When starting construction projects most people tend to only think about the cost of labour and materials.
However, there are other factors that could impact your total cost by as much as 40%.
These should be considered before starting the project to avoid any cash flow problems along the way.
Finding the funds to set up a site office and toilet is probably the least of your worries when planning your finances for the project.
However, they are a must on every site and they should be in place before work starts on the site.
Scaffolding and site fencing are two other hidden costs that should be considered when starting a project.
Ensuring your site is locked and secure can also be costly but it is something that must be done.
Locking the site at the end of each working day ensures nothing is damaged and keeps the public away from unsafe grounds.
Providing safety equipment for employees and visitors is a hidden cost that often gets forgotten about.
Safety equipment and information should be given to anyone entering the site so this is a cost that needs to be paid for.
And finally, skips are not the most exciting thing to think about when planning or starting a construction project.
However, chances are they will be needed many times to clear away rubbish and old materials so always consider this when planning.
Moorgate Construction Finance can help you with finance to cover all these hidden costs.
We have a team of construction experts that know the ins and outs of the construction sector.
They can provide finance for all these hidden costs, as well as funds for equipment and land purchase.