Construction Costs
If based on the Greater Vancouver area, this breakdown would provide a rough cost for projects located in Maple Ridge, Mission, Abbotsford, or Chilliwack.
Construction costs are rising. Both supply and labour factors are facing rising cost pressures.
How can builders mitigate for these cost pressure and pass on an efficient cost to homeowners?
There are many things a progressive builder can do to provide a lower cost to clients. Please see the following:
Detailed preconstruction process. Make as many design decisions as possible BEFORE construction begins. Also, hire the trade and supplier team BEFORE construction begins and remind them constantly of the build schedule. This will ensure a smooth and efficient build schedule. A tighter schedule will mean a less charges for site and project management costs.
Lock in supply price early. Once a contract is dually executed, the builder will lock in supply pricing on negotiated validity periods.
Overlap the trade work, where possible. Do you have to wait for the plumber to finish before the electrician shows up? No! Sequencing the work between trades, on-site, is imperative to a tight construction schedule.
Compare prices and update regularly. Framing materials are divided up mostly between joists, walls studs, and wall/roof/floor sheathing. One supplier may have better pricing on joists while the other one has a great deal on plywood sheathing. At Gold Lion, we may engage multiple suppliers to supply your home with wood materials. Overall, this can save a lot of money toward the builds costs.
