As a business owner, making smart investments is a vital component of your success. That’s why you should always thoughtfully mull over a decision as costly as constructing a building. Without the proper preparation or reflection, you could end up with a building that is faulty, unsafe, and constantly demands pricey repairs. Below, you’ll find a range of things to consider before constructing a building, so you can feel confident in and rewarded by your investment.
Zoning and Permits
Every city has its own zoning laws and permits for construction, by which you must abide when constructing your building to keep civilians safe and avoid fees and fines. Secure permits in advance so there’s no hold up when it comes time to construct.
Some zoning laws have restrictions on building height, color, floor design, and more, so it’s best to check the construction site’s zoning requirements before creating a blueprint for your building. Zoning laws may encourage a revision of your initial building design.
The Type of Soil Around the Foundation
The ground on which you construct your building has a big influence on the structural integrity of the building. Soil contains different factors that impact infrastructure materials, causing corrosion over time.
Assessing your soil before starting construction can save your company thousands of dollars in building repairs. Explore the different types of soil testing to determine which will be best to help you maintain your infrastructure for decades.
How You’ll Finance the Building
Constructing an entire building is, of course, not cheap. Materials, construction labor, insurance—there are many budgeting things to consider before constructing a building. You must review your budget to determine how much you can allocate toward a new building.
For costs that you cannot cover with your annual budget, you may need to resort to a building loan. It’s helpful to hire a financial consultant when securing a loan to guarantee that the loan will be advantageous to your company, not leave it in insurmountable debt.