Land

If building on a new piece of property, is the land purchased?


Underground Utilities

Are they readily available? How far will they have to be extended?


Budget

When putting your building project budget together, think in terms of total project cost. Besides the construction cost, think about soft cost items like: permit, design and consultant fees, finance costs, testing, special inspections, utility company design/installation, sound and lighting systems, phone, data, security systems, and furniture and fixtures.


Selecting an Architect, General Contractor, and Lender

Select your architect and general contractor wisely. Be sure to check qualifications and references. Ask them if they have worked on similar projects to yours. Take the time and interview them one or more times. Remember, you are forming a partnership that may last several months or years. If a lender is needed, be sure to do the same. Just like your architect and general contractor, your lender is an important member of your project team!


Funding

Will the project be financed with cash on hand or will a fund raising period take place?


Invoicing

Contractors and design professionals typically invoice monthly so their payment schedule needs to be factored into your cash flow model.


Project Type

If the project is a renovation or addition to an existing facility, will the project be phased? If the facility is occupied, keeping the operations going and people safe while construction is in progress is imperative. Vehicle and worker access will also need to be considered.


Schedule

Consider timing and schedule. A construction project inevitably takes longer than you anticipate due to the planning and processes that need to occur prior to the start date. Programming, initial site application process with local municipality, design, and permitting process can take up to a year or more, depending on the project.


Project Owner

Like building a custom home, consider all the decisions by the owner that need to be made. Who is going to make decisions for the owner, such as color selections? Do committees need to be assembled?