Turnkey projects are a popular option that can save time and money. However, it’s important to decide whether it’s right for you. Today, we’re looking at what turnkey projects involve and what the benefits are, so you can make the right choice.
A turnkey property is one that is completely ready for the owner. There is no additional work for them to complete; all they need to do is turn the key.
This means that the chosen company is responsible for all of the work in turnkey projects, including project management. Depending on what stage your project is in, they could work on the design, getting permissions, landscaping, and more.
Whether you need a remodel or full-scale construction, the turnkey property should be delivered in the best condition. You don’t need to worry about anything.
There are a lot of working parts in a construction project. Handing over the project management and responsibility for completion gives you a single point of contact for everything.
This can reduce stress and allows your chosen company to draw on their vast experience and network. That way, they can pull in the best quotes, labour, and materials, and you get the most out of your build.
Your chosen company will create a plan that outlines delivery times so you know what to expect. As an experienced contractor, they can optimise processes and use their project management expertise to help everything stay on track.
Often, you can expect to agree to one, set price for your turnkey project. So, whether you’re remodelling a commercial kitchen or building a Mallorcan villa from scratch, you know how much to set aside.
Of course, sometimes the unexpected happens. By having one point of contact, you know you’re speaking with someone you trust who has good negotiation skills and will keep you as up to date as you want on finances.
One of the main drawbacks of choosing a turnkey project is that you need to put all your trust in one company. But, if you choose right, that drawback quickly turns into a benefit. So, how do you pick a company that will be an asset?
Companies that can handle turnkey projects should have a strong portfolio that they can show you. This will help you see the scope of their work and even give you ideas for your project.
You don’t have to guess when it comes to staying in the loop. Find out from your chosen company what to expect in terms of communication. When will they provide updates? That way, you can put your mind at ease.
Of course, when you agree to a turnkey project, most of the responsibility is transferred to the project manager. But there are a few things to think about.
What will the payment schedule be? Do you need to do anything to give them site access? Are there any meetings to attend before the project starts or anything you want to choose (e.g. design features)?
A good turnkey project company will clearly tell you what they need in advance.
Local companies make local connections. This means your chosen provider might have a strong network that they can utilize to get good deals from trusted suppliers and partners. At LF91, for example, we often work closely with Epic Constructions on local Mallorcan projects, finishing work to the very highest standards.
We have managed over 175 projects to date. This includes commercial and residential work. Our priority is always to simplify the process, no matter your budget or project size. Our aim is to always deliver high-quality work, on time and within budget.