• Consider Your Budget When Building

    Evaluating Direct and Indirect Costs

Direct and Indirect Building Costs

Investing in a new building is a big decision, and that means you’ll likely be creating a detailed budget. The most obvious expense that must fit within those parameters is the building itself, but there are other factors that must be considered. If you’re looking to estimate building costs, we’ve provided a brief explanation of budget considerations often associated with purchasing a steel building.

Metal Building Costs 101

Direct Building Costs

  • CheckmarkAtmospheric Conditions: Snow, wind, seismic
  • CheckmarkIntended building use
  • CheckmarkPrice of steel

Indirect Building Costs

  • CheckmarkBuying Land
  • CheckmarkPermitting
  • CheckmarkUtilities

Steel Building Cost Estimate

The most logical place to start your budget is the price of your steel building. This is determined by a few factors. The first is the location of your building. This is important because it determines what local codes must be satisfied, including wind and snow loads as well as any potential seismic activity.

The second factor is the building type and how you intend to use the building. While all of our buildings begin as a base building package, our team works with you to ensure your building design reflects your specific needs, whether you’re building a workshop, garage, or commercial warehouse. Once you determine what size of building is needed, you can start assessing other related costs, including whether you will need a contractor to erect the building.

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Permitting

Permits and fees will also need to be factored in. Based on the size of land you buy, how the parcel is zoned, what you’re building and how you’re using the space, you’ll need to pay various fees and permit costs. This will vary city to city, so check with officials to see how much this will be for the calendar year and when you’ll need them. You’ll also want to check with the local utility costs to see what you’ll need to do to get water, power and more for your steel building.

Estimating Your Land Budget

The Price of Steel

The third factor is often overlooked but can make a substantial difference in your final steel building cost estimate. The price of steel is not fixed and can fluctuate depending on the world economy, the strength of the American dollar, and even natural disasters. The best strategy for countering this volatility is to pursue your project quickly and complete construction before it is impacted by a steel price increase. Your Project Consultant at General Steel can advise you on where the price of steel is right now and where we expect it to go in the near future.

If You Don't Already Own Land

Land will be the next budget expense that may be up in the air until you talk to the city or landowner. Land prices will vary based on how much you need, whether you buy or lease and what you intend to do with it. Luckily you can hedge this investment by negotiating contingencies that dictate whether or not you have to go through with the purchase.

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