There will always be a demand for commercial buildings, even in a remote work environment. Many people prefer to interact in person instead of working from home. You’ll also need commercial space for industrial tasks and warehouses.
That’s why building commercial properties is still a great idea today. And when the average return on commercial property is 9.5%, it’s a great investment opportunity.
Building a commercial building takes a different skill than a residential project. Keep reading to learn the steps of construction you should take to complete your new project successfully.
Create a Building Plan
The first step to new construction is to plan what the building will look like. You’ll come up with the general design of the building and then come up with the structural elements that keep everything up.
You’ll probably need to work with an architect during this process. Your architect will help you design something that works and doesn’t go against any of your local building codes. You don’t want to put a ton of work into a design and have it turned down by your local government.
Get Permission to Build
Getting permission to build your new construction is the next part of building a commercial property. Every location has sets of rules that govern how people set up buildings. This is because there is a way to do things that will keep everyone inside a property safe.
That’s why your local government needs to approve your commercial property design. You shouldn’t have a problem if your architect knows the local rules. However, a few tweaks may be necessary if you want to do something unique that doesn’t comply with the rules.
Find a Contractor
The next step to getting a commercial property built is finding building contractors to handle the job. There are many options out there that say they can handle the job. Unfortunately, not every construction company is reputable and will do bad work.
You’ll need to do plenty of research into your options to ensure you get a great result. Research each company’s past performance with past clients and question the companies you speak with to see if they have the knowledge for the job.
The chances are good that you can get recommendations if you work with an architect. Many architects regularly work with building contractors, so they can recommend the companies they had a good experience with in the past.
Pick Your Materials
Having a plan for a building doesn’t mean you’ll have the materials chosen. Some architects come up with general designs but then work with clients later to decide which materials to use after getting permission from the government to build.
Think about the types of materials you want to use in your building and the impact they’ll have on the space. You’ll need to consider everything from commercial flooring to types of lighting.
Your budget will play a big role in this. It’s easy to buy premium for everything and spend a small fortune on your building. However, you can spend a fraction of the money and still build an amazing commercial space.
Find Vendors
You’re ready to find vendors once you figure out what materials you’ll use for your building. If you use a large building contractor, they may be able to help you with much of this. They can procure things like wood, siding, roofing, and other common building materials.
However, there may be other things that you need to handle on your own. Things like light fixtures, office furniture, doors, and other products are more easily sourced by you.
Look for the popular vendors for office products to see who offers the best deals. You don’t have to go overboard and buy nothing but the best. But you should look to get the most value for your spending.
Start Construction
You’re ready to start construction once you have your materials from your vendors. It will largely be hands-off for you during this process. All you’ll need to do is monitor progress to see how progress is coming.
Of course, you may run into unexpected issues that cause delays in the building process. You’ll need to make some tough decisions during this process. It can both delay construction and increase your costs.
Run Utilities
Utilities are the next thing to take on once your construction starts. You don’t want to wait until the building is completed to start this process. It should ideally happen alongside the building process to make things easier.
Here are a few things you’ll need to set up:
- Internet cables
- Plumbing
- Wiring
- Phone lines
Of course, this can change depending on the features you want in your building. Work with your building contractor to determine the best places to run your utilities to ensure things get put in the right place.
Get an Inspection
You aren’t finished with the job once construction completes. Even if you got your building approved by the government, they still need to inspect everything to sign off on construction.
Governments do this because not every construction company will follow the rules. In other cases, they make mistakes.
A building inspector will perform a walk-through of your property to ensure everything is up to code. They’ll let you know if it isn’t so your construction company can resolve the problem.
Once you’re finished with the inspection, your commercial building is complete.
Start Your New Construction Commercial Building Project Today
You’re putting a lot of money on the line when you build a commercial building. They normally cost more than residential properties, so you have more to lose if your project fails.
Luckily, there are a few things you can do to go through the building process correctly. Follow the guide above during commercial construction to maximize your chance of a successful build.
Head back to the blog to find more tips that will help you when developing property.