Tips for Managing a Commercial Construction Project on a Tight Budget

The costs of commercial construction projects in South Florida are always in flux, and much of what we see with price swings fall to the whims of the market. Labor is tight, demand is high, and the cost of construction materials remains elevated.

All this news may have you wondering if it is even worth pursuing a renovation or new buildout right now or whether you should wait. While that’s ultimately for you to decide, the reality is that waiting to start your project may not necessarily be a safe bet either.

The good news is there are ways to successfully manage an office buildout, restaurant renovation or construction project of any kind regardless of your budget or what’s going on in the market around you. Here are three smart moves you can take to ensure your project is completed on time and on budget.

3 Strategies for Controlling Costs During Construction

Cost overruns are commonplace when planning is done haphazardly and communication between vendors and owners is scarce. If you’re working with an already tight budget, you have little room for error. Keep costs under control with these three things:

  1. Hire an owner’s rep – The number of decisions that need to get made during a commercial construction project can be too high to count. And without expertise in the industry, you risk grasping at straws as you try to weigh your options and make the best decisions in short timeframes. Save yourself time, money and headaches by hiring an owner’s representative to act on your behalf. An owner’s rep is your advocate who will work closely with the construction team to ensure your project goals are achieved – and that includes staying on budget.
  1. Undergo thorough pre-construction – Scope creep, change orders and misaligned goals can turn a good budget bad in a hurry. Nip potential issues in the bud by anticipating hurdles and developing a plan to address them during pre-construction. Even better, is to do so with your owner’s rep at your side.
  1. Take a design-build approach – Alright, we’ll say it. Sometimes architects and builders don’t always see eye-to-eye. A grand design may be all good and wonderful, but when it comes to construction, the plans may not be feasible – or they are feasible, but for with a high pricetag. When budgets and timelines are tight (and when aren’t they?), we encourage clients to go the design-build route. That means hiring your general contractor first to serve as the lead on your project. Then, together with an architect, engineers and other team members, we can all work together to create an exceptional build without sacrificing quality (or precious time and money).

Each construction project in Miami presents a new challenge, but at Seacoast Construction, we pride ourselves on rising to the occasion each and every time to achieve on-time, on-budget builds for our clients. If this sounds good to you, then please get in touch to schedule a free consultation.

 

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