There are some things that you will need to know if you’re about to begin a commercial construction project. Patco Construction Inc. is a Southern Maine Commercial Construction company with over 30 years of experience in all types of projects. Patco is a specialist in the design and construction custom metal buildings.
1. Start with your budget
Your budget is a key factor in commercial construction projects. It is important to have sufficient capital or financing to fund the project. It is important to consult lenders to determine how much money you can borrow. This will affect the scope of your project.
After you secure financing, it is important to make sure that the money you receive is used for all costs. For unexpected expenses, you will want to keep about 10%. Your budget should include the cost of your contractor as well as any fees related to the design and fees. It should also cover the cost of the land and building.
2. Select a Contractor Delivery Method
Commercial contractors can use a variety of methods to build a property. You can use the design-build method, which involves working with one contractor through all phases of the process, from the initial design phase to the final construction phase.
There is also a hard bid. This is where you have already created the plans and contractors give you bids. You then choose the best contractor to complete the project. This is where the designer and builder are distinct entities, which you pay.
There is also a cost-plus agreement where you pay the contractor for materials and labor, as well as a fixed fee or percentage of your total project. A builder will leave knowing that they will make money, which can be an incentive to your project.
It is important to pick a delivery method that suits your needs and finances.
3. You will be working towards a realistic completion date
It is crucial to set realistic expectations when taking on commercial construction projects. It is important to take into account all factors that could impact your project. Weather delays, availability of rental equipment, weather delays, and the time it takes for building inspections to be completed.
It is important to take a holistic approach to the project, not rush it. This will reduce stress and give you the time to get your business running after the project is completed.
It is important to secure financing for commercial construction projects and have a budget that allows for some flexibility. It is important to select a contractor that you can afford, and that will deliver the results you want. It is important to establish a realistic completion time that takes into account all moving parts so that you can choose a start date for the property.
SCHEDULING: Before you start construction, set a deadline. This will help your team set a goal for completion. Your contractor should create a schedule for the duration. You will be able to see the steps involved in building or renovating your space. Sometimes, it can take longer to deliver building materials than you expected, especially if the project involves custom-made items. You should be prepared for unexpected delays in scheduling. As needed, have your contractor revise the schedule every month.
PREPAY FOR THE UNKNOWN. Construction usually goes according to plan, but there are always unexpected delays. You might discover that underground utilities or plans aren’t exactly as you expected or that a record is not available if you’re renovating a structure. This is most likely to be the case in older buildings. Mother Nature can be as unpredictable as we wish. Extreme cold and hot temperatures, as well as rain and snow, can also have an impact on construction.
PLANNING AHEAD – Allow plenty of time for approval if you have a deadline. Sometimes approvals can take 6-9 months before construction can start. Sometimes, it might take longer to get approvals from the city. They might also require you to make changes to your site that were not planned. It can be costly and time-consuming to get approvals from government municipalities. You might consider hiring a contractor to help you navigate the process, depending on the type of project. If you are planning to renovate or add to your existing building, it is important that you plan accordingly. You can still run your business as usual. Discuss the details of moving or how to deal with noise, dust, and increased traffic. Find the best way to minimize interruptions in your day-today operations during construction. Ask your employees questions and have your construction team meet with them.
