Commonly Overlooked Factors That Impact Your Building Budget

Detailed planning is essential for successful construction projects that are completed on time and within budget. While unforeseen circumstances influence the end cost of a new building, anticipating potential costs ahead of time can reduce unpredictability. This article discusses five commonly overlooked factors that influence building budgets. 

Location and Logistics

Materials that originate far from the construction site require costly transportation. As a result, shipping costs can dramatically affect the total cost of the project. Project costs similarly increases the further the construction workers, lifts, and other equipment have to travel. Research what similar projects in your area have cost to better understand how transportation costs may influence your final budget, and consider purchasing materials that can be sourced close to home. 

Plan Quality

While poorly drafted plans lead to confusion and mistakes, increasing project costs, an accurate and detailed plan increases operational efficiency and can help reduce costs. Ambiguous plans may lead to confusion and even construction mistakes that have to be rectified later on, significantly adding to the construction costs. In addition, inaccurate or problematic plans cause project delays, increasing the total cost of equipment rentals and labor in addition to the cost of correcting the design. It is critical project plans are reviewed by veteran construction professionals to ensure that they will produce clean construction project. 

Insurance

Construction workers, tools, and equipment all need to be insured from the risks associated with construction. In addition, standard payment and liability bonds and contractor liability coverage should be purchased. Any special risks that the project may entail will ultimately increase the cost of such insurance plans. Finally, equipment and materials that are particularly expensive or shipped over long distances should be insured to protect them causing unanticipated costs. 

Construction Site Conditions

Finally, the condition of the construction site will have a large impact on the final cost of the project. Poor soil, contaminated materials, wetlands, as well as buried pipes, cables, and sewage lines must be resolved before the construction project can begin. This can dramatically increase the cost of the project in its initial stages. It is thus crucial to survey the land in the early stages of planning not only to ensure that the cost projections are accurate but also to ensure that the plans are appropriate for the construction site. 

Take the First Step and Start Planning

Ultimately, the best way to plan a building project is to consult construction experts directly. The professionals at Pro-Line Building Company have decades of experience building post-frame buildings of all shapes and sizes. Working closely with their clients, Pro-Line ensures that the building will not only achieve their clients’ dreams but also have the finest construction quality available. Contact us today to learn more about how to begin your building project.