Understand how to spend your money wisely

The various construction elements of a fit out are often consistent, however the scale and quality of these elements will differ for every project.

10 external factors that will affect the relative costs of the various fit out construction elements are summarised here:

1. Condition of the premises is the starting point (carpet, ceilings, lighting, a/c etc) – this will determine the need to spend money on this infrastructure on these items.
2. Scale of the project – larger projects attract greater buying power and bigger discounts can be leveraged through bulk procurement.
3. Quality decisions made during the design process on the choice of finishes & products – choosing more expensive elements to achieve an enhanced look and feel will add to the budget.
4. Construction time frame – working in an occupied building will often mean a fit out has to be staged. This approach will be more expensive than working in an unoccupied environment.
5. Sustainability & Heritage factors – some buildings will carry sustainability ratings, or a heritage listing, and some fit out elements may be more onerous to comply with the rules of the building. This may cost you more money.
6. Quality of the building – premium grade high rise buildings will typically be more expensive to fit out due to the landlord controlled standards of fit out. Fit out guides will often nominate various contractors and consultants that have to
be used in conjunction with the building rules. Less opulent buildings may not carry these restrictions making fit out pricing more competitive. Make yourself aware so there are no surprises.
7. Time of year – the construction market contracts during December and January as the industry relaxes for the holiday season. This typically makes the price of fit outs rise during this period. Demonstrate caution if you are embarking on a fit out during this time of year.
8. Geography – each CBD, Metro and Regional market will be at a slightly different stage in its prosperity cycle. This will create some differential state to state based on supply and demand.
9. Exchange rate / Import market – as the exchange rate shifts around so does the price of imported furniture and fittings affecting the market price in Australia.
10. Corporate standards – your firm may have a need to spend more on its IT infrastructure for example, due to security issues or head office guidelines. This may make some fit out elements more expensive.