Major renovations can be costly, but this cost does not have to be out-of-control. There are critical planning measures you can adhere to that can help you better regulate the cost of your commercial renovation to protect your business's bottom line.
1. Carefully Craft the Budget
Take the time to plan a well thought out budget. A detailed budget should not just include a projected overall cost for the project, it should also breakdown cost per area. For example, details about how much you can spend on materials, labor, etc. When you break down the cost this way, it's easier to avoid overspending in one particular area and ensures the funds are dispersed correctly. Be mindful of any special services you might need to assist with the design and build, such as environmental engineering, to ensure add these costs. The budget should also include overages for unexpected events, such as a weather delay.
2. Establish a Project Hierarchy
You should approach the renovation with an understanding of what you need and what you want. Based on this information, you should then create a hierarchy by which you will complete the projects. If you don't properly order the parts of the project based on importance, you can get off track and tell the contractor to perform one task, when it's more important for another task to be completed. With this type of mistake, if you are close to your budget limit, you could potentially walk away from the remodel without completing everything that you need to.
3. Do Future Work Now
It would seem that if you wanted to save money, you should keep the renovation lists as short as possible. However, when you evaluate savings, you can't just think in the short term; you also have to think about long-term costs, as well. Take a building that requires new doors and windows, for instance. Although these two projects might not be on the list of immediate updates, it would be a wise investment to complete these projects during the renovation. Not only will there already be contractors on site but figuring in the amount of extra money it cost to heat and cool a building with drafty windows and doors, resolving the issue now can offer cost savings in the long term.
Speak with a building contractor for more information about your commercial renovation project and how you can save money.Share
19 February 2020
When my husband and I took our "second honeymoon," we stayed at a glorious resort with an on-site spa. We booked couples' packages for massages and other treatments. When we got home, we decided our bathroom was not nearly as soothing or peaceful as it could be. Armed with inspiration from our visit to the spa, we ripped out the existing vanity, tub, toilet, and other fixtures, and replaced them with more spa-like models. A frameless shower door and a quartz-topped vanity were two of the best decisions we ever made. If you want to enjoy a day at the spa—without actually leaving your home—I hope you will use the information on this blog to make it happen for your family.