Planning an office renovation budget is complicated by numerous factors, and it can be especially challenging when you’re attempting to do so in a volatile economy or if you are managing the build from out of state. With prices seemingly fluctuating by the day, it can be challenging for project owners to predict what they’ll spend on a project that may not start for another 6-12 months.
One of the best ways to get a handle on cost estimates for office buildouts in South Florida is to simply ask a local construction expert. Any one of us from Seacoast Construction is more than happy to talk you through the current market in Miami-Dade and give you an understanding of where things stand with material and labor pricing. We can also help you make sense of competitive bids you’ve received, as rarely are they set up for an easy apples-to-apples comparison.
Factors to Consider When Planning Your Office Renovation Budget
At the highest level, your office buildout costs can be broken into the following categories:
- Hard costs
- Soft costs
- Vendor fees
Hard costs are all those items needed for the physical makeup of the space. These include things like mechanical, electrical and plumbing costs, framing, drywall, concrete, paint, flooring, doors, frames, etc. While material costs are always in flux, an experienced general contractor will be able to give you a good estimate for your project. (Hint: waiting for costs to go down is not always a safe bet.)
Soft costs include design and management fees, permitting costs and any other project needs not directly associated with the physical construction. They may be calculated as a percentage of the project or are flat fees. Lastly, vendor costs tend to be a catch-all category and will include expenses related to furniture and equipment, technology, signage and moving costs.
If you have questions about office buildout costs in SoFla, don’t wonder, just ask. Contact us today to set up a free consultation to discuss your build.
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