Estimating costs for commercial construction projects in South Florida depends on several factors, including the type of commercial project you’ll be taking on (e.g, office, restaurant, medical, etc), the scope of the project, current material costs, and other variables.
In this article, we’ll help you understand the core components of any commercial construction budget so you can best prepare for your Miami build.
Factors that Make up a Commercial Construction Budget
All commercial buildouts share a few line items in common. While the specifics of those items will differ, every project will include:
- Hard costs
- Soft costs
- Vendor fees
Hard costs encompass the materials you need for the buildout. This includes everything for the mechanical, electrical and plumbing costs; concrete; framing and drywall; and any other materials such as paint, flooring, doors, frames, etc.
Material costs are always changing and are based on current market conditions, An experienced general contractor will be able to give you a good estimate for your project, even when it’s very early in the project’s planning. To learn more about cost estimation, you can read about the five levels of construction cost estimates here.
Soft costs and vendor costs may vary depending on the team you hire, but it’s worth remembering that paying a little more upfront for an experienced team can reduce your overall project costs and timeline because you’ll end up with fewer change orders and other issues along the way that can cost you money and time.
Soft costs are sometimes calculated as a percentage of the project or are quoted as flat fees. Vendor costs will be influenced by the type of commercial construction project you take on and the related furniture, equipment, technology, and moving costs associated with your needs.
If you’re planning a commercial construction project in South Florida, please get in touch with our team at Seacoast Construction. We offer owner’s representation services as well as general contracting, construction management, pre-construction coordination and more. Call us at 786-433-8740 to schedule a free consultation.
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