You probably had plans to establish an office building, but the price has made you think twice. The office building construction cost nowadays is higher than before. You cannot blame the builders, the pandemic has made it harder for them to work comfortably and find enough supplies for a project.
But it does not mean that you should let go of your dream of owning an office building. Learn how you can reduce office building construction costs.
Average Office Building Construction Cost
Before learning how to trim down some cost of your construction expenses, you should know how much the average construction cost is to give you an idea of what to expect. The price varies, depending on where you are in Australia.
According to Financial Review, the following are the average construction costs in major cities in Australia.
- Sydney: $2640 sq.m.
- Melbourne: $2576 sq.m.
- Brisbane: $2448 sq.m.
- Perth: $2142 sq.m.
- Adelaide: $2070 sq.m.
Office building construction costs can vary due to many factors; such as location and the materials.
But one thing is for sure. Experts predict that the cost will continue to grow despite COVID-19 currently affecting the industry, due to the limited workforce and supply of materials.
However, the construction cost in Australia is cheaper than in Tokyo, Hong Kong, and San Francisco.
Ways You Can Reduce Your Office Building Construction Cost
Reuse and Recycle
It is good to use new materials and furniture in your new building. But if your goal is to trim down your construction cost, you should settle on what you have as much as possible.
Before planning the construction, create an inventory of the materials you can reuse for the new construction project. This will save you a significant amount of money on your office construction cost.
Be Involved in the Planning
It may sound cliche, but many commercial property owners do not thoroughly plan their building’s construction project. They entrust everything to their architects or builders.
When it comes to planning, you have to get yourself involved to avoid surprises and to identify the possible problems at the early stage.
Also, do not plan everything yourself. Consult a professional who can give you cost-effective suggestions.
Find a Local Supplier
One reason for the increasing office building construction cost nowadays is the lack of suppliers and materials. If you can find a local supplier who has the materials you need, you will save time and money. You do not have to worry about the shipment fee or the time it will take to get the materials to your place.
Avoid Scheduling Construction in Peak Months
Many commercial companies choose to have their construction before the peak of the shopping season. This is because many retailers want to take advantage of the hoard of buyers, so they decide to schedule the construction of their building before the season comes.
Due to the high demand, the office construction cost will also increase. For this reason, you should avoid going to the retailers during the peak months, and schedule yours for after the holiday shopping season.
Check Out the Other Possible Options
Once you have a plan worked out with your architect, it does not mean that you should stick to it 100%. It is helpful for you to look for other more cost-effective options from your general contractor. General contractors can give you the best alternatives on materials you can use for a cheaper option.
Always Keep Yourself Updated on the Progress of the Project
Even though you already have a draft of your office building construction project, it does not mean that you can trust your builders to rely on it 100%. Changes can happen. That is why you need to keep your communications open.
After all, nobody likes surprises. If you fail to learn what is happening on the project, you won’t know your builders’ changes to your building. Even though your builders can stick to the plan 100%, it does not mean that you will like its outcome.
As a result, you might end up paying a higher office construction cost. You might have to buy more resources for your builders to make adjustments or repairs to the work that they have done.
Conclusion
Everyone wants to make the most out of an investment. Being able to save on your office building construction cost, will allow you to use your money for something more important. But do not let it be the reason you sacrifice the quality of the construction.
We know how expensive it is to hire construction services nowadays. That is why you should not risk your investment by hiring just anyone. Work with builders who have a long history, are experienced in the industry and can provide results.
Allow MKJ to help you turn your plans into reality. We can help you maximise your budget without going beyond it. We also offer our services at a reasonable price. Contact us today.
