3 Extra Costs to Expect When Choosing a Location to Build Your Business

As you finalize your selection of a property to build your commercial building on, you understandably may be focused on finding an affordable property that meets your business’s various needs. For example, a retail business may need a location on a busy thoroughfare, and a manufacturing facility may need easy access to shipping services, supplies and more. In addition to focusing on these and other business-specific factors, understand that the lot that you select will impact the cost of construction in several important ways.

Excavation

Before the construction crew can begin building on your lot, the trees and other vegetation must be removed. The land will need to be evened out and prepared for the foundation to be laid. A lot that is relatively free of vegetation and that has minimal slope may have much lower excavation costs than a heavily-treed lot with a steep slope. The work may also be completed faster so that you can relocate activities into the space as soon as possible.

Underpinning and Foundation

Many people fail to properly estimate the cost of laying the foundation or the importance of paying for quality underpinning service. Underpinning includes the pillars, rods or other support features that are essential to ensuring that your structure is built on a solid foundation. Keep in mind that the cost of the foundation will be impacted by the square footage of the footprint as well as by the height or depth of the foundation. A sloped lot will require more concrete for the foundation in many cases.

Utilities

If you are purchasing a lot in an urban area, there is a good chance that utilities have already been run to the lot and are ready for immediate connection. On the other hand, if you are purchasing a lot in a less developed area, you may need to pay to have utilities connected to your property. Alternatives are to invest in a septic tank, a water treatment facility and solar or wind energy. Likewise, you may need to pay more money to pave the roads leading to your business property if they are not already paved.

These are among the more significant costs that are directly affected by the specific lot that you select. If you search for a commercial lot with an experienced real estate agent, you may be able to analyze costs more efficiently. You may also consult with your builder before finalizing your land selection so that you can keep construction costs as low as possible.




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