One of the most commonly asked questions we get is how to cut corners and save money on construction projects. While we have the most effective budget-saving hack and many of our clients have used it to save money in the long-run, this answer is difficult for many to accept. Even if it’s a difficult pill (and bill) to swallow, this is the number one secret to saving money on your construction project.
The Secret: View Construction as an Investment
Construction isn’t something that can be done properly for a low cost. In fact, if you talk to a couple contractors and one is offering a much lower price than the rest, it’s probably too good to be true. I’ve seen so many clients turn down my proposal initially because it’s too expensive. They went with someone who was cheaper, only to end up paying hidden costs down the road, getting a poorly done construction project, and finishing the project later than expected. Even after the project is finished, they have to come back to us to get it redone. This entire process costs them much more than if they chose a high quality contractor in the first place.
When you are considering who to hire for your construction project, the ticket cost isn’t the only thing that matters; construction is the foundation for your physical office. When hiring a contractor, paying more upfront can save you money in the long run.
How to Hire a Good Contractor
So how exactly do you hire a good contractor? The first thing to know is you should shop around and get a couple proposals. Speaking with multiple contractors allows you to analyze their offers, ask them questions about their services, and compare costs.
When you meet with a contractor, here are a couple of questions to ask which can help you understand their process and if they’re the right contractor for you:
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What has the timeline been for past projects and have you stuck to those timelines and the proposed budget?
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What are the names of some companies you contract out work to?
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Are you licensed and what is your area of expertise?
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How are you addressing inflation and the supply chain problems in the current market?
Signs of a Good Contractor
Once you’ve interviewed multiple contractors and gotten their proposals, it’s time to make a decision. Ideally, you should be looking for a contractor who has worked on many successful projects in the past, is a good project manager, and has not overpromised on timeline or cost.
Here’s a checklist you can use to determine how different contractors you talk to stack up:
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Proposal is about the same price as others I’ve talked to/the industry average
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Good track record of staying within the timeline and budget for past projects
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Contracts work out to high quality companies with good reviews
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The contractor also has good reviews and past clients are happy with their work
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The contractor is a good communicator and I feel comfortable working with them on this project
Takeaway
At the end of the day, cutting costs on a construction project isn’t truly about the initial price. To save money, you need to find a contractor who can stick to a timeline and budget and provide a high quality construction project which won’t need to be redone. This option sets you up for financial and construction success as you will need fewer renovations in the future.
Carlton Building Services in Hampton Roads Virginia
Carlton Building Services specializes in repairs, maintenance, renovations, remodelings and build-outs for a variety of clients in Hampton Roads, Virginia Beach, and Chesapeake areas. We have years of experience handling projects in the retail, office, and healthcare space and would love to work with you on your next project!
To learn more about our services, check out past project highlights or contact Carlton Building Services to see how we can help with your next project.
