These days, construction costs are tough to stomach.The rising prices of labor, commodities and land are all on pushing the cost of construction up, and they don’t look like they’ll take a break any time soon.
To help mitigate some of these costs, Skender, a construction, design and manufacturing company, put together an eBook listing 101 ways to build quality buildings for less.
"It is essential that everyone involved in a new building look for innovative ways to deliver high-quality projects while stemming the tide of rising costs…in this eBook, we are sharing some of the best practices we've learned with our clients and project partners over the past six decades,” Skender CEO Mark Skender said in a statement.
According to Skender, more than half of the tips in the eBook are applicable to any project, and the other half are asset class specific best practices.
Here are four highlights that can help reduce costs for any project, according to the Skender.
- Lock in pricing to hedge against rising interest rates. In an inflationary environment, lock in materials and equipment costs as soon as possible. As prices escalate, it often pays off to pre-purchase materials to avoid price hikes.
- Build lighter and smarter. Sometimes owners ask for materials and equipment that are larger or more powerful than the anticipated use requires. Your contractor may know of a less expensive way to get the job done.
- For owners, installing smart tech now can mean big facilities management savings later. Installing certain technologies that represent cost increases during construction can deliver large future savings, such as remote programming of HVAC and security systems.
- Go Lean. Start by hiring an integrated design and construction team with experience in Lean Construction, our industry's take on the Toyota Way. These pros will share a focus on reducing wasted materials, time and labor costs.