Tips To Stay On Budget During Interior Build Out Project

budget calculation

The goal of any interior office build out project is to stay within budget, but of course that’s easier said than done. These tips will help keep your project from breaking the bank so that you can get in the green and start making money faster.

1. Create A Budget That Makes Sense

You can come up with any random number you want but staying true to this number is going to be nearly impossible unless it was originated using trusted and true budgeting techniques.

The first step is to write down every single expense you expect to acquire for the office interior build out, from windows to flooring to construction cleaning costs. Add all of these numbers up and then add in a safety net of about 10-20% extra for unexpected expenses likely to crop up along the way.

If the final number surpasses what you want to spend, it’s time to start seeing where you can make cuts. These cuts should not be applied to your safety net. A well thought out budget that accounts for error or unexpected occurrences is much easier to stick to. Not to mention, it will help keep you sane from start to finish. 

2. Maintain Detailed Expenses The Whole Way Through

Creating an original budget and then hoping everything goes accordingly is just asking for trouble in regards to staying on budget. Interior build outs include countless working parts, and someone needs to make sure everything is on track in regards to costs and the original timeline.

We offer full service general contracting services for office interior build outs. As a part of this important title we watch day-to-day expenses like a hawk to ensure the budget remains on track. In order to achieve this level of oversight it’s fundamental that you host regular team meetings where all contractors are present. Detailed documentation of purchased materials, logged labor hours and all other costs are important to keep track of. 

If all aspects of a project are carefully monitored day-in and day-out the moment the budget gets out of whack it can be curbed in and taken care of. The alternative is out of control spending that may not be identified until it is too late to reverse the damage. It’s a full time job to keep track of all these components, which is why hiring a general contractor is your best bet to staying on budget.

Maintaining detailed expenses like this also helps highlight if something comes in under budget, in which case left-over funds can be allocated to something on the wish list that was originally assumed out of budget.

3. Only Hire Reputable Contractors

An unprofessional contractor could blow your whole project out of budget. Only hire reputable contractors proven to provide great work at fair prices. This means the cheapest contractor available might not be the best bet. The last thing you want is for a contractor to do a portion of a project and then leave you in the dust, having to scramble and find someone else to complete or even restart work you’ve already paid for.

The million dollar question remains: how do you know if someone is a reputable contractor? This question is further complicated if you don’t have a lot of experience hiring every single type of contractor required for a full interior build out.

PCI has amassed countless connections over the years, providing us access to the leading contractors for every facet of your office interior build out project. As a result, we know exactly who to hire to get the job done right the first time around, no matter if it’s for plumbing or new flooring. Plus, since we work with these contractors on a regular basis we score you the best prices in the industry—yet another win-win when it comes to staying on budget.

4. Avoid The “It Isn’t That Much More…” Scenario

Perhaps one of the most common reasons projects go over budget is because along the way contractors talk you into certain upgrades. Sure, a different type of flooring may only cost a couple hundred dollars more, but what happens when you say ‘yes’ to 5 different things that only cost a ‘little’ more? In the end you are way over budget. This is why it’s important to pick a plan of action and stick to it.

Staying on budget for interior office build outs isn’t easy, especially not with so many working parts and different contractors to deal with. PCI is here to help your project stay on budget while still achieving the first-class results you’re after.