When you are undertaking a commercial construction project, it is very important that you stay within the budget that was allotted for the project. Thankfully, there are ways that to help ensure you stay within scope.
Here are three great tips for staying within your commercial construction budget.
Create a Detailed Design to Present
When it comes to presenting your design plans to your contractor, it is very important that you present a very detailed design. It can be difficult for a contractor to give you an exact bid when you don’t have all of the information about the structure. The more details that are included in your design, the more accurate the bid will be. If you were to show your contractor more of a vague design, this could cause the project to become more expensive when these detail were added.
Get Your Bid in Writing
When your contractor comes up with a bid for your commercial project, make sure that you get it in writing. You want this bid to be on all of the official documents that you sign when you hire your contractor. This protects your investment and ensures that the bid that they gave you verbally is in fact the bid that is documented.
Don’t Accept the Lowest Bid
It isn’t always in your best interest to accept the lowest bid that is offered to you because it may not be the most accurate bid. A low-bidding individual may not be experienced enough in the field of construction or the type of renovation you have in mind to offer a realistic bid or they may have offered low simply to get the job. In either case, you will likely end up paying more in the long run, due to costs that simply weren’t accounted for.
You can stay within your construction budget by creating a detailed design to present when getting bids, making sure that you get your bid in writing, and by not accepting the lowest bid that is offered to you.
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