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Construction Costs vs Project Costs

Article Link: https://neumannmonson.com/blog/constr... Budgets are the driving force behind every building project. If you’re beginning your first project, you may find it daunting to account for every necessary expense. Beyond construction, you may need to budget for legal fees, professional fees, site acquisition fees, and more. Clients often ask us to clarify the difference between construction and project costs. The two terms are used frequently in the building industry, but they may not be clear to those unfamiliar with architectural jargon (“archi-speak” as we like to call it). At Neumann Monson, our goal is to help you break down the costs so you can effectively budget. In this video, we explain the difference between construction and project costs and outline some of the expenses you can expect to encounter on most building projects. By the end, you will have a better understanding of the expenses you will need to account for when you are planning your project’s scope.