On today’s show we are talking about how to reduce the cost of construction. Is it worth your time to look for savings in a construction project, or should you just accept that things cost more? On one of our projects we have been going through a value engineering exercise. This is where you look closely at the design specifications and find ways to save money in the project without compromising the end product.
You can sometimes face escalating costs because of the assumptions being made in the project. Our team has been meeting twice a week, and sometimes three times a week to pull cost out of this one particular project.
I’m going to show you a few ways in which we are saving money on a large scale. What I’m going to share are real life examples from one of our development projects.
We saved nearly $1M in the budget in about an hour of work.
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**Real Estate Espresso Podcast:**
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