07
Dec

5 Ways to Save Money on Construction Equipment

Working in the construction industry means you will require access to a lot of impressive machinery. But for any building project, the use and maintenance of this equipment will make up a significant portion of the costs. It doesn’t matter whether it’s an excavator, crane, or oil drilling equipment: the costs can prevent you from taking on contracts or lead to overspending and project delays.

To help you keep all your building projects on track and have access to all the tools you require, here are five ways to save money on construction equipment.

Order the right equipment for the job

Some construction companies seem to think that bigger is always better, when really you just need the most appropriate tools for the job. Buying or leasing the biggest equipment will be more expensive, as well as necessitating higher fuel costs and more maintenance. Of course, you also want to refrain from getting machinery that’s too small as this will impact your efficiency. Do your research and find out the most efficient option needed for the job at hand.

Don’t skimp on quality

If you’re looking to save money on your construction equipment, it can be tempting to choose the cheaper, lower-end models or go secondhand. But be warned. If you buy poor quality equipment, you will inevitably end up facing malfunctions and breakdowns. Your projects will be delayed, and you’ll have to fork out for costly maintenance and repair. It will ultimately be more cost-effective to pay slightly more for a reliable, high-quality piece of equipment.

Consider leasing

The big question when acquiring equipment for a big construction job is whether to lease it or to buy it outright. For projects with a short timeframe, it is often cheaper to rent machinery than to buy it. But if the project is likely to go on for an extended period, it may be more cost-effective to purchase it, particularly for smaller items. If you do rent, make sure you closely scrutinize the rental rates and what they cover to avoid any unforeseen charges.

Provide equipment training

The last thing you want is to acquire an expensive piece of equipment, only to have it immediately break down because a novice employee used it incorrectly. With any high-end machinery, it’s advisable to provide company-wide training to teach everyone how to operate and maintain your equipment. Your employees should learn how to spot problems, deal with them quickly, and conduct routine daily maintenance.

Keep spare parts on hand

If your equipment breaks down in the middle of a job and needs a replacement part, you don’t want to have to halt the project while you wait for it to arrive. Consider which parts you are most likely to have to replace, and keep a supply on hand to enable you to get up and running quickly if anything goes wrong.

In conclusion, construction equipment can be a costly endeavor. Still, with forward planning and the right strategies, you will be able to save huge sums of money and ensure your construction project runs as smoothly as possible.