One could argue that, in the eyes of a real estate developer or investor, the most important element of constructing a new commercial building is cost. After all, cost has a direct correlation to profit, which is arguably the ultimate purpose of building and constructing new real estate. Initial thoughts are generally focused on developing basic fiscal expectations, but because there are so many factors involved in determining the overall cost of commercial construction, it can be almost impossible to gauge the exact amount of capital required to finish your particular project.

Continue reading to learn what you need to know about calculating the average cost of constructing a commercial building, plus which commercial construction company in Central Indiana to trust for superior project results.

Indianapolis Indiana Commercial Construction Company 317-253-0531

Budget Planning and Preparation for Commercial Construction

With the right budget planning and preparation, you can maximize your business’s utility, function, and overall operational efficiency, plus artistically depict your organization’s culture, all while remaining within your anticipated budget. You can achieve. These objectives and more with the help of a licensed Indiana commercial construction management company.

There are several methodologies that can help you and your commercial general contracting team accurately calculate the total cost of your commercial build, such as precision budget analysis, economic data integration, cost foreseeability charting, and contingency forecasting. A skilled commercial construction company will have the proper knowledge, training, and resources to properly apply and implement these methodologies for more accurate cost evaluation.

Common Commercial Building Cost Considerations

Although every commercial construction build is unique, there are some baseline costs that can help you establish a fundamental outline for a budget. Your commercial construction management team can help you determine which baseline costs to include in your budget outline.

Factors that will most likely influence the total cost of your commercial construction project include the size and scope of the build, the building square footage, building location, intended use of building, building structure assembly, building codes, zoning/permitting, architectural design, and much more.

You also need to consider the costs for fire protection systems, security systems, HVAC requirements, and plumbing. Additionally, there are other costs considerations that may come into play with your commercial construction project, like the market demand for the materials being used for your project and similar economic conditions.

Are you ready to begin the planning and preconstruction process for your new commercial build in Indiana? Contact BAF Corporation at 317-253-0531 for professional commercial general contracting services in Indianapolis, Indiana. We serve commercial and industrial clients all throughout Central Indiana.