Hard Costs vs Soft Costs in Construction To precisely gauge and plan for a construction project, a general contractor’s budget should integrate both development soft costs and hard costs. Soft costs can address a critical piece of development costs, so it’s fundamental that you thoroughly understand what they are and the way in which they […]
General contractors, in particular, often face financial challenges. Sometimes they’re unable to pay their bills on time (particularly upfront project costs) and those invoices are inevitably paid late. This is significant because half of all contractors don’t get paid on time and that creates some obvious pitfalls when a contractor applies for additional project funding, […]
Construction Equipment Funding – When to Rent vs. When to Buy Should general contractors / subcontractors rent or buy the tools they need for their construction projects? Conventional wisdom might lead you to believe that buying is a better strategy than leasing, but there are many factors at play. Monthly payments may be two to […]
The Importance of Accurate Construction Cost Estimating Getting an accurate cost estimation from a professional construction estimator is critical to developing and maintaining a realistic budget of project costs. Producing an accurate construction cost estimate can be tricky. The consequences of an underestimate or an overestimate can affect construction project to a great extent. What […]
Will the Price of Construction Materials Continue to Rise Construction material prices were projected to rise modestly in 2020 according to reports early in the year, but COVID-19 has added a new level of uncertainty to these predictions. But, as history has proven, you can consistently count on the price of construction materials to climb regardless of […]
