The steel industry has undergone a number of transformation in the past decade. In effect, these changes have changed the way steel buildings are viewed by the construction industry. Even though steel has been around for hundreds of years, owners as well as designers of steel buildings are seeing a lot of increased benefits of this material. Due to streamlined manufacturing processes, energy saving coatings and paints, insulation panels and other similar innovations, steel buildings have become a cost-effective option for consumers. As a matter of fact, the cost of steel buildings is generally half as compared to traditional construction methods and takes half the time to be erected.
But, how much does a steel building actually cost? If you have checked steel building prices online or consulted with construction companies, you will notice that the price fluctuates from one building to the next. This means that you cannot find a standard steel building pricing list. The actual cost of a steel building depends on several factors. You can determine the cost of steel buildings after looking at these factors, some of which are:
Location and design
An engineered structure, a steel building is especially designed for the exact location of the end user. There are wind loads, snow loads and seismic factors unique to every location and influence how the structure is fabricated and engineered. The building codes of every area are also different and can impact the cost. Likewise, a steel building can be completely customized and can be found in every shape and size. The more complex and bigger they are, the more money you have to spend. Thus, you need to consider both location and design for determining cost.
Demand and supply
Not unlike gas and oil, steel is also regarded as a marketplace commodity, which means demand and supply can have an impact on its price. In simple terms, the price of steel is lower if demand is low and supply is high. Likewise, prices increase when demand is high and supply is low. This market is volatile and tends to change on a daily basis and can affect your building’s cost.
Buying from a broker or manufacturer
Who has the responsibility of fabricating and delivering your steel building? Are you planning to buy from a manufacturer or broker? Brokers are essentially middlemen who only make contracts and don’t manufacture anything. They will take your dimensions and other requirements and outsource the work to actual manufacturers.
Most of the time, these brokers are concerned with getting the cheapest building, outsource the design and engineering to others and arrange the purchase on your behalf. In contrast, with manufacturers, you can go over every step of the design, discuss details and make changes as the project goes on. The cost will be high when you go with brokers because they will also charge a fee for their service whereas the same doesn’t apply when you consult a manufacturer directly.
You can consider these factors for determining the cost of steel buildings.