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How to Determine Estimated Project Costs

To arrive at a realistic estimate of what the whole project is going to cost, you need to get a grasp of the major project component costs. Some major costs include:

Site Costs: This is probably the most under-considered cost in the whole process. Site costs not only include the cost of the real estate, but everything it takes to get the site ready for its ultimate use. Excavation, parking lots, curbs, and drainage – they all have to be figured in, and they may cost more than you thought. Get an excavator or civil engineered early in the process.

Design Costs: Largely depends on how much design you need. If your building project requires the services of an architect, you can expect to pay some significant fees. For Design/Build, most design fees are included in the total package and are considerably less.

Construction Costs: Includes cost of actually constructing your building, plus internal and external subcontracted work to get it operational.

Furnishings, Landscaping & Signage: Most people are surprised to learn much these essential features actually cost.

Financing Costs: Includes costs of principal and interest on any loans you need to take out.

It’s important to communicate your situation to the designer and/or builder so he can provide the information you need. There’s no point working through specific design issues to gather detailed pricing information at this point if all you need is rough ballpark to confirm if your idea is worth pursuing. Be clear about where you are in the process and the builder should be able to give you enough pricing information for you to determine if you want to proceed further.

As a prospective builder, it is also important to remember not to spend unnecessary time and money on design until you’ve determined whether your project is feasible and fits into your budget requirements.

If you need help designing and planning, please contact FBi Buildings at 1.800.552.2981 or click here to email us.  If you are ready to get a price, click here to request a quote and a member of our sales team will call you!