![]() High-grade finishes cost more compared to mid or low-grade finishes. ![]() The finishes used in a building will affect its costs. Labor costs can be calculated by determining employee wages, training, and benefits. Labor costs are hard costs that take up from 20% to 40% of building costs. For example, a high-rise office building will cost more than a low-rise single-story warehouse. The building influences the cost per square foot as different buildings are used for different needs. Generally, building in a highly populated urban area like New York City will be more costly than building in a less populated area in the Midwest. The place you choose to build will determine the final costs you incur. The more expensive the building material is, the more expensive the construction will be.įor example, building with prefabricated material like wood will be cheaper than building with highly fabricated material like steel. The material used to construct a building will influence the total cost of the construction project. Some factors that affect the costs of building any commercial project are building materials, location, building type, labor, and finishing. Many experts use reference guides such as Spon’s Architect’s and Builder’s Price Book (by year) for typical construction costs. In order to get a true determination of the cost of build-out, you need to specify not only the square footage, but the height of the building, as well as the materials used in construction. However, it is important to note that this information isn’t attempting to account for the many factors that can cause such fluctuation, but to simply provide a general reference point with regard to the cost of different types of commercial buildings:Īs rates vary by region, you must specify this information before determining the costs of anything.
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