How to Estimate Commercial Construction Costs
Understanding how to estimate commercial construction costs will give you a clear idea of the different factors that will affect the overall cost of your construction project. At Twin Maple Construction, we understand how important it is to set a realistic budget for constructing a commercial building. That is why our team will work closely with you to ensure that your budgetary requirements meet your building expectations.
Factors that Affect the Cost of Commercial Building Construction
It is important to keep in mind that not all commercial construction projects are created equal and that the costs of building will vary from one location to the next. Some of the main factors that can affect the overall cost of constructing a commercial building include:
Since commercial buildings have different elements that influence the cost—type of walls, roofing, etc.—commercial buildings are often separated into three different classifications:
- Class A—High-quality commercial buildings that are equipped with top-tier fixtures, aesthetically pleasing interiors and exteriors, and are most commonly located where land prices are steep. Most high rises fall under this classification.
- Class B—Average quality commercial buildings that have details and fixtures that are not as impressive as those in class A buildings. These buildings are usually less than four stories tall.
- Class C—Buildings located in lower income areas and have the least amount of amenities and modern fixtures. These buildings offer the lowest construction costs.
Design & Architecture
The more complex the architectural design for a building is, the more it will cost to build. This is because complex builds often require additional general contractors and materials to complete the scope of the project.
When trying to decide what kind of materials to use for a commercial building, it is important to take into account not only the costs of the materials but also taxes and shipping charges. In most cases, larger buildings will have high commercial construction costs per square foot due to the amount of materials required to complete the project.
Permit fees should always be factored into the overall cost of a new commercial building. The cost of the permits will depend on the location of the building and the type of work being completed onsite. It is also important to take into account the costs of the consultants required to complete the design and engineering for the building plans, which will need to be provided in order for the proper permits to be obtained.
Mechanical & Electrical Systems
Mechanical systems— air conditioning, heating, cooling, and plumbing—and electrical systems are must-have features for any commercial building. Ensuring that mechanical and electrical contractors are involved in the early design stage of the project can help minimize errors and provide cost-effective solutions.
If you would like to learn more about how to estimate commercial construction costs, or if you are interested in our commercial construction services, please contact Twin Maple Construction at 604-854-6790 or by filling out a contact form on our website.