Tips to Manage a New Construction Build
As your business grows, your office space needs to grow along with it. This also involves renovating an existing house, adding to the infrastructure, or building a whole new structure. Today on the blog, our Sacramento commercial builders share the following tips to manage a new construction build.
By sticking to these tips, you could save thousands on your finished house, making the whole process easier and less stressful for your entire staff.
1. Consider your options.
When you decide whether to add or renovate your current building or build a brand new facility, it’s time to find a Sacramento general contractor who can direct you through the rest of the process. If you have extensive experience in the commercial construction industry, it is often best to find a general contractor with proven connections. They will be responsible for recruiting and overseeing teams who will manage the different sections of the construction process. This is including brick masons, electricians, plumbers, Sacramento HVAC companies, drywall hangers, or any other professional you may need. This method is time-consuming and tedious if you try to do it on your own. In addition, you’re unlikely to get the rates that the contractor would secure for you.
2. Take a peek at the sales & expenditure forecasts.
At this point, you need to estimate what your business profits and expenditures should be during the construction period so that you can plan what you should spend on the project. From there, you’ll know what money you can have on your own and what you need in terms of funding. Through accurate estimates, you can also decide what kind of payment terms you can handle. This is so that you do not have more debt than you can actually afford to pay.
3. Take control of the legal rights.
Apart from federal legislation and legislation unique to each jurisdiction, each municipality has its own licensing, zoning, etc. requirements. Again, selecting a good general contractor who is familiar with the particular area where you are building or renovating will help direct you by choosing a property in the right zone. They will then secure all necessary permits to start the construction process. Surveys are likely to take place along the way, and construction is often stopped so the inspector can visit the property. Be sure to prepare for these types of delays in your construction plans, as well as any possible snags, such as an inspector requesting extra materials or safety measures. Our friends at Specialized AV, an AV company in Sacramento, recommend installing security cameras to ensure that your assets are covered.
4. Consider how the build will affect your ordinary business operations.
It is very normal for companies to underestimate the time it takes to connect with their general contractor and make numerous decisions along the way. Will you be able to take time away from operations and your own customers to answer questions, make important decisions and negotiate with your contractor during the construction process? Note, their time is your money, too. Thus, delaying answers to their important questions will take the project longer in both time and money. Many organizations create a link to work with the contractor to ensure minimal interruption of operations and customer support.
5. Seek expert advice.
Costing a commercial building involves monitoring the price per square foot, including contract inclusions and exclusions. You need to know what the “completed contract” means before the construction begins. Does this involve paving your parking lot? Hooking up with utilities? This part is important for securing funding, particularly if funds are tight during construction.
6. Build a breathing space in your plans.
Don’t keep things too tight when designing the building and costing plans. Know, weather systems, market volatility, and other factors outside your control can dramatically alter the time and cost of a Sacramento construction project. A construction project can also reveal some of the issues that could not be noticed before, such as mold and infrastructure problems.
7. Stable funding before anything else is done.
Start with your current financiers. If you’ve built a strong relationship with a bank or other lending entity, you’re likely to be refunded. Don’t forget about other, less traditional ways of funding business projects like construction, venture capitalists, and crowdsourcing. They are more likely to make money available for an existing company like yours than for an untested start-up.