Various factors define the cost of construction of your real estate project. If you are able to control these factors favorably, your construction project can be quite cost friendly. Finding a good balance on how to ensure these factors are favorably harnessed to achieve your preferred budget is something that a building professional can assist you to do. Your architect will assist you to get your design done in a manner to suit your budget.
Being clear with what kind of real estate that you intend to develop on your property
Your building type is a major determinant on the cost of your construction. Whatever activities that you are going to carry out in your building will define the type of fittings and fixtures that you will have within your building. A good example of how function influences a building’s construction can be seen in the way office design incorporates elements such as quality wall coating, aluminium composite panel claddings and curtain walling on facades. Definitely, such the use of such elements on building projects are priced more highly than what you would ordinarily do on ordinary residential projects.
In today’s contemporary architecture, you may witness builders incorporating elements that were traditionally part of commercial buildings are now part of residential buildings. For example you may find that more residential buildings are being constructed with large windows previously recommended for storefronts, or open planning of residential functions in a manner akin to an office environment. Depending on how these building elements have been executed, they do shape your cost per square footage of area on your construction, making it pricier.
Such contemporary finishes and fittings installed on your building will increase your unit area costs by as much as twenty five to forty percent additionally, though they have a beautiful effect that ordinary construction does not have.
The type of structural system for your building is a major key to determine your real estate building costs
It is true that the kind of building you are intent on constructing will influence the type of construction system you are likely to use on your building. Buildings that contain modular spaces defined by particular repetitive structures are better constructed using post and beam or framed structures, as opposed to using ordinary structures. Homes on the other hand may be easier constructed using load bearing walls, and only braced with post and beam structures where spans do not allow ordinary walls to be utilized.
As the structure of a building bears as much as 60 to 70% of a building’s cost, the type of structural system that one chooses to build with greatly influences the cost of your building. Reinforced concrete plays a major role in the type of building structure that we have, and the cost of your building varies much based on its usage. By doing an efficient building structure, you can reduce your overall costs.
Thus, wisdom dictates that it is a good idea to enhance your building structure and its efficiency through the use of materials and techniques that will reduce on materials used on site, as well as enhance the time it would take to build a project with requisite strength and solidness during the building process. It calls for willingness though on the part of the developer to embrace these new technologies as they build.
The kind of spaces and their provisions of buildings in your real estate project
In the construction of real estate projects the size of rooms be constructed in each unit tend to be subject to lots of discussion. Buyers may not get value for money when each unit has rooms that are too small. Spaces provided in each room must be adequately sized to cater for their functions. Should you desire larger spaces it is imperative that they cost more. larger spaces as well as rooms with greater finishes will call for higher letting or selling rates.
Finishes and fittings are big players in determining the costs of real estate
Choosing finishes and fittings for your building do have a major impact on the costs of building your structure, and your preferences play a major role in defining these costs. In addition green fittings which are adopted for a sustainable lifestyle and offer better value for money over the course of the building
Of particular interest are elements such as sanitary fittings and building electronics. Their use depends on your approach when building your structure. For example you may opt for the highest quality fittings which have higher price ranges, as would be the case in many European brands. They are considered to be higher quality due to their rigorous testing and manufacturing process. A good buyer however plays their part looking at products coming from even the Middle and Far East which offer competitive pricing. You benchmark is to gauge your trade-off between price and matters of durability.
Your services and level of their sophistication
You may pose a question regarding how complex your building systems are. Are your building services too elaborate for your building functions or are they inadequate for the needs of the building to meet its functions? You may have an example of a security system within a home or office which may require simple access key controls for its operation as opposed to having a biometric reader controlling automated access doors. Too much automation and sophisticated controls will inflate your budget considerably. Make enough provisions for enough building services that would ensure your building can operate normally.
External works determine a big proportion of cost in architecture
Perhaps one of the most overlooked items when considering prices of homes is the effect of external works costs on the bottom line. Builders sometime overlook this cost when considering what they have spent on their projects, yet the cost of this element is quite substantial. Not considering this would bring a major discrepancy in your pricing.
External works are a major price contributor as they are responsible for the works shaping exterior spaces to a construction project. They typically include bulk items such as guard houses, landscaping, driveways, sewer and storm drainage, and a big one…. the boundary wall. Should you do a boundary wall around a half acre property, expect to spend close to a million shillings. Items such as connection of power and water utilities, treatment of parking and driveway facilities and those above must be valued and their cost apportioned to each development
Taking each one of these items into account it is a necessary factor to achieve success in your building project. Have you done your building yet? Get in touch with us using our contact form and we shall guide you on the way forward. If you already have constructed your building, did you get your cost factors right?
