6 Ways a General Contractor Can Reduce Commercial Renovation Costs
Every commercial renovation is a bit different, but one factor that has remained the same throughout time is the need to keep projects in line with goals and financial expectations. As a business owner, if you are tackling a commercial construction project, ensuring the budget stays in line with your goals is critical as that can define its long- and short-term success. Commercial renovation costs are a core component of that success.
There are many ways to minimize costs, but one of the most effective strategies is to use a commercial general contractor to manage the project for you. A general contractor will work closely with you from start to finish, ensuring costs are in line with your objectives throughout the process. Consider how they can help to reduce construction costs.
#1: Effective Project Planning
Commercial general contractors work to identify cost-saving opportunities for you throughout the project, including the selection of materials and building layout. Their job is to help ensure that the entire project is planned to keep costs in line with your budget and minimize overspending.
While doing so, they ensure they are reducing construction costs while not compromising the quality of the project. Finding this balance takes the skill of a professional with experience.
#2: Accurate Cost Estimation
Another core way they reduce renovation costs is by ensuring that the starting budget is actually realistic. Many projects will have some level of overrun in cost, but a qualified general contractor will ensure this is as minimum as possible because the starting budget is acceptable and well understood.
This includes accuracy in every area of the project, including labor, materials, equipment, and permitting. Their job to oversee each area plays a big role in this outcome.
#3: Strategic Supplier and Subcontractor Management
The general contractor works to utilize their network throughout the project. For example, they tend to have good relationships with local suppliers and subcontractors, ensuring the work will be done properly and within project goals. At the same time, they will ensure that they are getting competitive bids, negotiating a favorable price, and monitoring supplier products.
In addition to this, they handle the management of all subcontractors on the project. That includes ensuring the work is done properly but also within the budget expected by the assignment. All of this plays a vital role in reducing renovation costs.
#4: Efficient Project Scheduling and Time Management
Minimizing delays is also crucial for reducing construction and renovation costs. The general contractor’s job is to ensure that each subcontractor can work in a clear path, one step at a time, to complete the work. They define which subcontractors need to come in at a given time. If there are any delays in hammering out and managing this schedule over time, it will ultimately cost the project time and money.
Commercial contractors develop a realistic and efficient construction schedule. They are constantly providing oversight of the project to avoid any delays within that project. The goal is to minimize any downtime and reduce overall labor costs associated with the project.
#5: Lean Construction Practices
Another core area of the work a general contractor will do is finding the balance to streamline workflows in an effort to ensure proficiency and efficiency. This includes working to reduce non-value-added activities on the job site. The key is not just to keep people working but to move projects forward one step at a time. By doing so, they can reduce renovation costs.
General contractors apply just-in-time delivery methods as well. This helps minimize any extra inventory or storage costs but ensures that the entire team is able to work hand-in-hand to get the work done correctly.
#6: Continuous Cost Monitoring and Control
The job of a general contractor continues throughout the project, and through that is the need to provide robust cost-tracking and monitoring systems. This will be key in keeping projects moving ahead and reducing construction costs.
This constant review of project expenses also allows for identifying opportunities to reduce costs. When changes to the scope of the project occur, they find ways to balance that within the project when possible. They are always looking for areas of cost reduction.
How Buildout Pros Helps Reduce Commercial Renovation Costs
Commercial construction cost reduction is one of the most important steps in a successful project. Keeping costs as low as possible means there’s the potential to build out more or enhance the property. With the help of a commercial construction general contractor, it is possible to better manage the project with a careful eye.
At Buildout Pros, we work with our clients to ensure the very best long-term outcome. To do that, we ensure that there is always strong communication and expectations.
Contact our team today to find out how we can save you money on your project.