How Do You Estimate the Cost of a Commercial Construction Project?

9/6/2021

Before you start a new commercial construction project, it’s helpful to estimate its price. This exercise can help you get an idea of the real cost of your project so that you’re better financially prepared. The first step is to measure.

To correctly estimate the cost of a commercial construction project, there are several factors to keep in mind. Firstly, the square footage of your project is crucial to begin estimating the cost. Next, consider the furnishings and amenities that you’d like to include. Then, get quotes from contracting services. When estimating expenses, it’s important to include indirect costs like permits, inspections, and insurance. Finally, speaking with a trusted contractor can provide you with an accurate estimate of the cost of your commercial construction project.

Since 1990, the team of commercial contractors at D’Lauro and Rodgers have provided transparent pricing to our clients. We can honor your budget and help you estimate the cost of your plans. To discuss your project, call the commercial contractors at D’Lauro and Rodgers today at (215) 542-0100.

How Can You Estimate the Cost of a Commercial Construction Project?

Estimating the cost of your new commercial construction project can be helpful in the long run. It can reduce costs and prepare you for potential problems. But with so many aspects of the commercial construction process, how can you estimate the price?

Measure Square Footage

The most basic way to begin estimating the cost of a commercial construction project is to know the project’s square footage. Whether it’s new construction or a remodel, you should know the estimated size of your project. Most commercial contractors will charge you per square foot. Multiply the square footage of your project by the price per square foot of several contractors. This equation will give you a basic idea of the foundational cost of your commercial construction project.

Consider Furnishings

Suppose you want your commercial construction project to be fully outfitted by its completion. In that case, you should consider the cost of furnishings. Think about the amenities and features you want to include in your new space. Understand the cost of those items. Doing this before you break ground on construction can help you better estimate of the cost of your entire project. Such features are often forgotten about or not included in total construction expenses. However, these final touches can make your space come to life. Leaving the cost of furnishings and amenities out of your project cost estimate can cause you to spend more money than you anticipated.

Get Quotes

A significant portion of the price of your commercial construction project is the cost of labor. It’s beneficial to get quotes from multiple contracting companies to compare and contrast. A low quote isn’t necessarily a good thing, though. After you’ve gotten quotes, check out companies’ references and reviews. Judge for yourself if their quality of work supports their quote. Because client satisfaction is a top priority for the commercial contractors at D’Lauro and Rodgers, we highlight client testimonials and our portfolio on our website. That way, clients can see our work and success before they decide to partner with us.

To estimate the cost of your commercial construction project, you should consider these three major factors. Doing so will help you understand the bulk of the expenses throughout your project.

Other Ways to Estimate the Cost of a Commercial Construction Project

Measuring the square footage, considering the furnishings, and getting several quotes can help you form a general idea of the price of your commercial construction project. Of course, other, smaller details can become expensive if overlooked. These indirect costs include things like permits, inspections, and insurance.

The indirect costs of commercial construction can affect your budget in ways you might not have anticipated. For example, commercial construction often requires building owners to get permits. The larger a project, the more expensive these permits can be. Commercial construction projects can require multiple permits, which can chip away at your budget. It’s important to include these costs in your project expense estimate from the get-go.

Before you begin construction, you’ll need to get several inspections and surveys of your space. These inspections will reconvene once construction has finished. Inspections are important to survey the safety of your new building or space. Because inspections are a necessary expense, it’s important to include their cost in your estimate. Insurance is another necessary expense that should be considered when estimating the cost of your commercial construction project.

Can a Contractor Help You Estimate the Cost of a Commercial Construction Project?

The right contracting service should be clear about the estimated cost of your commercial construction project. Otherwise, your project can go over budget. The team of commercial contractors at D’Lauro and Rodgers prioritizes our clients by remaining transparent about cost.

Budgets are important to our clients. Commercial construction can be expensive and should be a positive experience for your business. Because of that, the commercial contractors at D’Lauro and Rodgers can help you estimate the cost of your project. We’ll honor your budget and proactively solve problems that threaten it. Our creative team can design a plan within your budget, so you don’t have to compromise on key features and amenities.

Estimating the cost of your commercial construction project shouldn’t be your responsibility alone. The commercial contractors at D’Lauro and Rodgers will help you understand construction costs before we break ground on a project. Our transparency can give you confidence in the success of your project.

Call Us to Help You Estimate the Cost of Your Commercial Construction Project

Before you begin your commercial construction project, it’s important to be comfortable with the cost. To discuss your project, call the commercial contractors at D’Lauro and Rodgers today at (215) 542-0100.

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