The first thing to do when breaking down commercial construction costs is to find out as much as you can about this specific project and its geographic location. You must know exactly what type of building it will be and what type of businesses will occupy it. Next, you need to know everything you can about where it will be. What kind of architecture prevails there? What is the weather like? The answers to this question are important because you need to make sure that your project is safely adapted to any type of people who frequent it. You should also be familiar with any local ordinances that may dictate what type of structure it can be. Once you have the answers to these questions, you can estimate the different costs that your construction will involve. What are those individual costs? Now we will take a look at them.
The key factor here is the cost per square foot. To determine this, it is a good idea to understand the community in which this project will be located. That is because; To calculate YOUR budgeted costs per square foot, you need to know how much each tenant will be charged after the project is complete. In other words, you need to know how much profit you will get in return once it is completed. There are research sources that you can access on the Internet that will give you an estimate of the square footage involved in the construction of various types of projects, as well as by different regions of the world. The data provided by these websites is quite extensive and will be of great help to you.
The next factor we will examine is the cost of building materials for your pending project. This is another thing that will vary greatly; depending on who you buy your supplies from and, again, where they are physically located. The type of materials you plan to use for your building will also help determine your costs. The costs of a concrete building will differ from those of a steel one. If you have a lot of glass or marble or other more elaborate materials on the outside, the costs of these will go into your income statement. What about the surrounding grounds of this building? Will it contain more grass and trees or shrubs? Will it have rocks and stones of different sizes and types? Will it have any water features like a fountain, a small lake or pond, or something like that? All these things that you intend to include in the construction of your commercial project will surely enter your costs.
Another thing that will contribute to your costs is if there are already structures located where you want to build. If there are, there is most likely a cost to demolish the other structures. After all, that kind of activity won’t be done for free. You may have to pay it upfront, include those costs when it’s time to get your money back once construction is complete. There may also be permit costs and other legal fees associated with removing other buildings. You should consider these as well.