Deciding to construct a commercial building on a piece of land for your business is a big commitment. It’s also a major investment that will soon require care and maintenance. You must make sure that the timing of the build is right, and that you have the funds to see the project through to the end. There are many things that can go wrong if you don’t plan well—for example, realizing that your budget is too small halfway through the project or regretting your choice of building materials later on down the road.
Are you getting ready to start a large-scale building project? Make sure you’ve done your homework! Here are five things you should consider before beginning commercial construction in Littleton, CO:
- Plans: Set aside a lot of uninterrupted time for planning your building project. Think hard about the appropriate size of the building, the best location to build, the number of rooms or offices that should be built, how much open space you want inside your building, etc. How are you planning to accommodate new employees? It’s also a good idea to consider working future expansion into your plans. Plan long and hard before finalizing construction.
- Budget: Budgeting goes along with planning. When it comes to budgeting, it helps greatly to make a list of all the known and potential expenses associated with your commercial build. Include as much detail possible, from the cost of building materials to labor to building permits and emergency funds for unforeseen expenses (keep an extra 10 percent on hand). Be as thorough as possible for a better chance at staying within your budget.
- Financing: To avoid a late start on your project or having to reschedule, be sure to secure financing well in advance. Ideally, you want to have the necessary funds ready to go as soon as your contractor is ready to start building. When you get financing from a bank, the land and the building may be considered collateral for the loan. Most lenders will require at least a 20 percent down payment, which is calculated based on the value of the property.
- Contractors: Do your research to ensure you are hiring the right contractor for the job! Once you’ve narrowed down your list of possible builders, check that they have the proper licenses, insurance, equipment and experience. Contact references and ask about the contractor’s ability to do the job. Note whether they have good customer service skills, and consider reliability, pricing, punctuality and whether they’ll clean up the site afterward.
- Project team: After choosing a commercial building contractor, it is time to meet the team. Why? Because it benefits you to know who will be working on your project and who you can expect to see on the project site. The team typically includes designers, architects, contractors, subcontractors and members of the construction crew.
For more information about commercial construction in Littleton, CO, or to set up a consultation, contact the team at Harrison Custom Builders, LTD. Don’t hesitate to call us with questions!
Categorised in: Commercial Construction