Steel Building Prices – Calculate Your Cost
How much do steel buildings cost to buy? What about rent to own ones? It’s time to calculate your cost, and save.
Strong, versatile, formidable. They’re all adequate words to describe steel as a building material.
That’s why, if you’re looking for a metal building structure, you should be looking at steel as your material of choice.
But is the price of the steel expensive if you’re looking at a steel-built property, and if so, what are your options? Here are the typical cost associated with buying a steel building:
- Rigid-frame steel buildings cost $11 and $20 per square foot
- A finished metal building cost $19 to $28 per square foot (up to $40/sqr ft if more complex)
- Materials average between $6 to $14 per square foot
- Foundation costs $3.85 to $7 per square foot of poured concrete.
- Labor cost average $3 – $5 per square foot (billed by the hour)
To help you decide, here’s a rundown of steel building prices, from renting to ownership.
Cost of Purchasing a Steel Building
Steel prices have risen, on average, over 15% over this last year. This cost inevitably has to be covered by somebody and that somebody is the end consumer. You.
So, does that make purchasing a steel building a poor option? Not at all.
The prices of commodities will always fluctuate, so it’s ill-advised to try and ‘time’ the market in the hope of costs decreasing. If you’re looking to build, there’s no better time to buy than today.
At the moment, a 40′ x 60′ building – imagine a typical garage or barn – could cost you around $20,000. Something smaller, like a carport, could cost you less, from around $6000 to $15,000.
The size of the building you’re looking to build will determine the amount of steel you need, which will have an impact on the cost. For estimates on larger steel buildings please describe your needs to our team.
If you’re thinking of building industrial or agricultural metal buildings, you should be able to negotiate discounts on the cost of steel per several thousand square feet, thanks to bulk purchase options.
You’ll also need to factor in typical building costs, such as insulation, lighting, and security, as well as the cost of transporting the steel to the build site. You may be able to purchase readymade steel building kits to reduce the overall cost of your build.
Renting to Own: Is It Worth It?
If you’d rather buy and own your metal-built structure, but you’re concerned about the cost, you could look at rent to own schemes.
These are ideal for residential owners who need a metal building without the excessive cost. We’ve already touched upon the cost of carports, and it’s these kinds of structures that could be available as rent-to-own structures.
But what exactly is rent to own, and is it worth it? Do you get to own the building completely?
They’re offered by manufacturers and sales companies as an option to spread the cost of a build, making them more affordable. Like any kind of loan arrangement, the property is yours, but you spread the cost over a longer period.
You would typically need a down payment to be able to proceed with a rent-to-own building or structure. Most providers will also allow you to pay off the cost without any penalty if you decide to settle early.
Carports, garages, barns, and storage sheds are all examples of residential rent-to-own buildings that you could build without needing the full, upfront cost at your disposal.
Renting a Steel Building
Do you need to build?
There are plenty of steel structures that are already pre-built that could make renting a more appealing option, depending on your own requirements.
Consider agricultural buildings, for instance. There are over 2 million farms in the United States alone, and they average over 400 acres in size. With some hustle, it could be possible to negotiate leasing agricultural buildings from an existing estate.
Speak to local realtors in your area to register interest and see if they’re aware of any buildings that might be available that could suit your purposes.
If you need a more typical industrial metal-built unit, you could look at industrial plots as an alternative. Depending on the size and location, these could vary from cents to several dollars per square foot.
Consider Steel Building Prices Before Making Your Decision
As we’ve already mentioned, the cost of steel will vary, but the impact of that doesn’t necessarily need to be a bad thing if it can help you make a decision.
The cost of steel is also only one part of the consideration you need to make before you decide whether buy or rent-to-own your own steel structure.
Like any building project, the design and purpose you have in mind will determine whether the price of steel makes it an affordable option.
The size of your building will have an impact on the amount (and cost) of steel you need to purchase, as will the climate and conditions you live in. For instance, if you live in an area that’s prone to excessive wind, you’ll need steel construction rated to withstand the demand.
If you’re planning to build, don’t forget some of the easily forgotten outlays like transportation costs, either. Custom built buildings can also cost you more, as will any alterations you decide to make to existing steel kit builds.
With any building project, decide on your budget before making any decisions.
Compare Prices Before You Decide
Steel buildings make great structures for residential, commercial, or industrial use.
Start by identifying the purpose of your building. From there, you’ll need up-to-date steel building prices to work from to help you decide which solution is best.
That’s where we come in.
Here at Steel Building Zone, we can help you compare the cost of residential, industrial or agricultural structures, no matter the size or purpose.