
What to consider before you build

Planning a construction project? Whether you’re hiring a contractor or doing it yourself, ask these questions to help make your construction project a success.
- General contractor
- Build it yourself
- Do you have a fixed cost contract, and have you set up payment and appropriate work schedule deliverables?
- Have you completed a budget and cost overrun analysis? Plan for an extra 20% for potential unexpected costs.
- Do you have detailed quotes from three contractors and checked their references?
- Do you have construction liability/contractor liability insurance, business interruption insurance and course of construction insurance?
- Does your contractor have all the correct permits secured and know the bylaws of where you’re building?
- Do you have itemized costs/estimates and materials and labour budget?
- Have you completed a financial and cost overrun analysis? Plan for an extra 20% for potential unexpected costs.
- Do you have detailed quotes from three sub-contractors and checked their references?
- Do you have full replacement cost property insurance, commercial liability insurance, business interruption insurance and course of construction insurance?
- Do you or your sub-contractors have all the correct permits secured and know the bylaws of where you’re building?
Other considerations
- Commit to a project plan (blueprints, site prep, materials, estimated start and finish dates) as closely as you can.
- There are different warranties and liabilities depending if you’re building for a business vs. personal use. Check your provincial government website for specifics.
- Plan for site inspections and progress reports.
Need financing? Check out your options with the FCC Construction Loan.

Know your cash flow
In any construction project, it’s important to know your cash flow. Download our cash flow planning guide to help give you a clear financial picture.