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How Much Will It Cost?

Posted on 10/23/2017 in new construction renovations construction budget

Factors to consider for your next construction project

Whether you plan to build a new hotel, office, restaurant or home, inevitably the question you’ll ask your builder is “So, how much will this cost?” It’s important to know from the very beginning if what you’re envisioning fits within your finances so that adjustments can be made in the pre-planning phase. Making important decisions before building begins will help you stay within budget and allow you to communicate well with your builder from the get-go!

Decisions, Decisions

As you think about the look and functionality of your building, it’s important to carefully consider the details. What do you want the external shape to look like? Will your building include arches, columns, or another specific design aesthetic? How many floors will it have? What type of roof? Do you prefer brick over siding? You can see where I’m going here – there are literally thousands of details to consider – and that’s just in the building and design!

Site, Soil & Scenery

You’ve likely heard that location is crucial when it comes to buying and selling real estate but with new construction, location becomes a factor in ways that you may not have considered. In fact, when you’re thinking about where to build, the type of soil that you’re building on is the most important element that will affect your structure – and its long term stability. Along with the weight of your building, the soil type will determine the foundation that will be necessary to keep your building structurally sound.

In addition to the soil, you’ll need to consider what will need to be cleared from the property and what will be kept. Will trees need to be removed? Does the land need to be leveled? The cost for clearing and preparing land before building can vary greatly – all dependent on land grading, brush and tree removal, and the equipment and time necessary to get the job done properly.

Light It Up

Your building’s location will also determine the cost of your utilities. If you’re building on undeveloped land, public utilities may be very far away and getting access to electricity, gas, water and sewage can contribute greatly to your building cost. This is often a consideration that people don’t think about in advance but if it’s factored in from the very beginning, you won’t have any unwelcomed surprises (meaning additional costs!) during the building phase.

Figuring Out Finishes

Once you decide on the exterior design of your building, you can better formulate a budget when you choose materials for the interior. There are literally thousands of options but with the help of the web and some handy apps you can “try” different flooring, cabinetry, and even paint colors before you commit to them.

So, how much will it cost? Much of that depends on you! With careful planning and communication, you and your builder can stay on budget and produce a building that you’re proud to call your own.

Dawn Morgan has owned Collins Construction since 2009. The firm has recently celebrated its 25th anniversary and has offices in Savannah, GA and Beaufort, SC.