How to Keep Your Commercial Remodeling Project on Budget
Working with a budget and staying on budget can be tough when it comes to commercial remodeling, especially if it’s a large project. However, it’s not impossible and our Maryland commercial remodeling experts have helped numerous clients complete a project without overspending. Here are a few tips we’d like to share to help you keep your project on track.
Create a Cost-Effective Design
The amount of money you allocate for a specific remodeling project is for the most part defined by the project’s scope. For example, if you are moving into a new office building and need all three floors completely remodeled, you are talking about tens of thousands of dollars. However, how many of these “tens” you will need depends on the design. There are often many different ways to achieve the same results, and here is where your architect/designer comes in. If your budget is tight and you want to spend as few “tens” as possible, hire an architect who will do the best with your building’s existing structure. Better yet, hire a design/build Maryland commercial remodeling company like Northstar Commercial Construction!
Get Several Bids
When you have a large project, it’s worth asking a few contractors to submit their bids based on your plans. At this point, many people who skipped the first step realize that they can’t afford to implement this expensive design. The bids keep coming in way above what you are willing to pay. What do you do? We’ve seen these situations before and we’ve responded by suggesting modifications to the design that can keep the cost down. For example, switching to less expensive materials or not moving plumbing can shave off a lot of money from the final cost.
If your design is viable and you are receiving reasonable bids, now is the time to compare apples to apples. Speak with each commercial remodeling company you are considering to learn more about their crew, experience and approach. Don’t hesitate to ask questions! You don’t want any surprises down the road.
Stick to the Schedule
You and your commercial remodeling contractor will establish a realistic timeline for completion of the project. But as you probably know, things happen and deadlines get pushed back. Meanwhile, every day your project is at a standstill, you could be losing money in leases, depreciation or inability to conduct business at full capacity. A big responsibility for sticking to the schedule is on your contractor, but you must also do your part diligently. Don’t leave your contractor hanging as they wait for your signature, approval or paperwork. Respond to emails promptly, return calls right away and don’t leave questions unanswered.
Consider Remodeling in Phases
If money is tight or your project comes to a halt, consider breaking it up into phases. You can build the minimum viable environment to get your business going at the new location, then finish the rest later. For example, the break room or extra executive offices can be left for later. Of course, you will run into some inconveniences, such as working at a construction site for a few months. But you have to do what you have to do, and with a flexible builder and understanding employees this shouldn’t be a problem as long as safety is maintained.
Contact us today if you need help keeping your commercial remodeling project on budget!