This may give you the advantage to get through the approval phase what was once considered an “impossible” project. Take advantage of this situation as best as you can, and build that facility you’ve always wanted.
The Cost of Construction
The other reason now is a great time to build is the costs related to development or construction have declined. We’ve seen a substantial decrease in the cost of materials including steel, concrete, paving and other building components. Land costs have come down in many areas due to the sluggish real estate market.
The decrease on construction volume makes resources more available and affordable, which can mean higher-skilled labor at better prices and shorter lead times. When you take into account the changes in development costs, a project that last year was marginal may now be feasible. In addition, hiring a general contractor is easier, and fees have also been trimmed.
Taking all this into consideration now is a great time to find that good location, build your facility, and be in position for the economic rebound you know is going to come.
Jamie Lindau is the national sales manager for Trachte Building Systems in Sun Prairie, Wis. Lindau has crisscrossed the United States and Canada for 23 years helping people plan, develop, build and profit from self-storage. Drawing from his own experiences as a former self-storage owner, he has also led more than 200 Trachte seminars since 1988. For more information, call 800.356.5824; visit www.trachte.com.