Tips for Reducing Construction Costs

Perhaps you have not noticed the increase in raw material costs. Since the year 2000, materials such as rubber, cotton, metals, minerals, and steel have seen an increase of more than 100% in price. Many markets, including energy and agriculture, are finding new ways to approach this issue and finding new ways to save construction costs. The construction industry — an industry that deals almost entirely with taking and combining raw materials and turning them into something strong, durable, and often beautiful — is not immune to this struggle.

Develop a Solid Plan

Just like in any successful business, the point of taking on a project is to hopefully make a profit. Keep a close eye on your budget and hammer out all the details. Many times during a construction project, time and money is wasted on late decision-making or a change in plans. What resources and material storage will you need during the building process? In the design phase, you have the opportunity to search for all the cost savings possible.

Standardize and Repeat

Cutting down on the one-off variations and dimensions will allow you to buy in bulk and utilize the same tools. Consider buying “off the shelf” items that could be at local hardware warehouse stores or fabrication shops if need be. You won’t lose anytime waiting for special order materials to arrive if you can always go out and pick them up yourself.

By repeating layouts or building multiple function areas around or on top of one another, you can greatly reduces costs. It is much expensive to build one level of a building than a multi-level building with similar layouts. Of course, once you start adding on many levels, the cost savings goes down again.

Use Alternative Materials

When considering the future purpose of the building, consider using alternative materials. Have you ever heard of recycled steel or using a structural insulated panel? Recycled steel is one of the most recycled materials on the planet! Even though it’s not a brand new version of the raw material, steel can last for decades. Structural insulated panels function much like a surfboard in that they have a hard outer shell of plywood and a thick, yet lightweight, insulated core. These methods allow you to use used or cheap materials that stand up to the test.

Consider using fabric structures. These fabric buildings are strong, portable, easy to set-up, and durable in harsh conditions. Fabric structures can provide you with all of the benefits a steel or brick-and-mortar building can offer at a fraction of the price. With the advancements in fabric building construction, you can fully equip them with insulation, electricity, and the comforts of modernization. By selecting a translucent roof, you can even avoid the need for daytime lighting.

Keep Labor Costs Low

Probably one of the most impactful ways to cut costs and save money on construction is by cutting back your labor costs. Make sure that you are staying on top of productivity and equipment storage costs. Analyze project variables such as overtime or delays. With today´s advances in technology, you can also keep track of your employee’s timesheets and productivity online for better system integration. Maintaining your diligence in project management will help avoid lost dollars and wasted time.

Save Time and Money

By tightening your margins and clearly defining your plans ahead of time, you are on the right track to savings. Make sure that you are utilizing today’s modern technologies to your advantage. While we often rely on what has always worked, we can’t be afraid of trying new things, like fabric buildings for instance, in order to save. Every penny saved is a penny earned.