The renovating market faces challenges heading into the coming year. Rising interest rates and slowing home sales in the US will contribute to an expected year-over-year contraction of spending well into the second quarter.
In Australia, recent news presents a mixed picture. The pace of renovating has declined from the highs experienced during the COVID-19 pandemic; however, the dollar-value of those declining jobs remains healthy. Finally, UK material supplier Travis Perkins reports conditions similar to the US as it downgraded its profit forecast.
While all of this doesn’t add up to great news, builders and tradies still can find profitable opportunities using modern software to manage potential customers, quote competitively, and to direct projects under tight deadlines that stay on budget.
Software helps builders and trades navigate challenging times because the software speeds the many tasks needed to successfully win more work. While they can choose many types of software tools to help accomplish these preconstruction tasks more easily, successful renovators are increasingly turning to cloud-based digital software platforms that bring all aspects of their business together.
All-in-one renovating software brings a holistic view of their projects from first customer contact to final invoicing. With all software features integrated, this means there’s one source of truth and one stop to get administrative work done throughout a project’s lifecycle.
What’s involved in a renovating job?
Every project is unique, but every successful project demands careful planning, coordination and management. It’s not just about expert craftsmanship. It’s also about skillful job management. Builders need to handle a diverse range of tasks, from preconstruction through to task management and finance.
Here’s what the builder must typically master:
- Creating takeoffs: Before anything can happen, builders need to know the type and amount of materials needed. Measurements based on blueprints need to be on point to calculate the right amount of materials. This is why accurate takeoffs are essential for any successful renovating project.
- Building estimates: Once material counts are in place, builders then work in the costs from suppliers, as well as contract labor and other expenses, such as permitting, creating a comprehensive overview of the project cost.
- Quoting to customers: With estimate in hand, the renovator then shares it with the customer via a detailed quote that breaks down the scope of work, setting clear timeframes for completion, and detailing material, labor and overhead costs. This is also the opportunity to allay any customer renovating fears and set expectations.
- Buying materials: Builders need to consider quality and quantity, as well as variables like cost and availability. When material shortages impact project timelines and costs skyrocket, builders must keep a close eye on changes affecting their bottom line.
- Securing permits: Ahead of starting any work on site, builders need all the necessary permits to keep work on track. Failing to secure relevant permits beforehand typically results in significant project delays, or additional costs in the form of fines and penalties.
- Scheduling tasks: As a final step in the preconstruction process, builders create their construction schedule, planning the order of tasks, coordinating with subcontractors, and setting realistic timelines. This informs everyone on the job and prepares them to handle scheduling changes as they occur.
- Cost tracking: As well as project progress, builders need to consistently track costs, so they can stay on budget. Success in renovarting relies on robust financial tracking, with quick responses to unexpected events, and the ability to adapt to keep costs in check.
- On-site work: Once work starts, renovators need to stay across several moving parts. This includes managing labor, coordinating subcontractors, tracking material use, ensuring safety, adapting to client requests, and monitoring external variables like weather and material deliveries. Major events and progress should be documented in site diaries that keep work teams and the customer on the same page.
- Customer invoicing: As well as cost tracking, renovators need to stay on top of invoicing so they can maintain a healthy cash flow and cover expenses like labor, materials and overhead. Timely invoicing is crucial for accurate bookkeeping and accounting.
Simplify and enhance each step with renovating software
With a myriad of tasks to juggle during any renovating job, builders must consistently multitask – doing everything manually adds difficulty and extends work into evenings and weekends.
Managing tasks like takeoffs, estimating, material buying, labor and expense tracking by hand eats up valuable time. It also means you’re at risk of human error—including measurement mistakes, forgotten materials, misplaced paperwork or missed deadlines.
This is why renovating software presents a real go-to solution for home construction professionals, helping to streamline job management, and boost productivity.
Here’s how software supports your renovating project:
Centralizes documents and cuts admin time
Nowadays, relying on generic spreadsheets, or any paper-based system, isn’t feasible. The volume and complexity of modern renovating jobs demands the right renovating software. With it, you can keep all project-related documents in one place, including permits, legal papers, invoices and variations. This reduces the risk of lost paperwork. With a centralized digital hub, accessing necessary documents also becomes quick and easy.
Generates accurate estimates in a fraction of the time
Estimating has always been one of the most time-consuming, laborious tasks for renovators. With estimating software, you can do them up to five times faster, freeing up your valuable time. It also leads to accurate project quotes, eliminating errors like double counting or missing an item. Digital tools enable quick and easy takeoffs, calculate material costs using preferred supplier pricing, and allows re-use of templates from previous jobs for time-saving efficiency.
Presents detailed schedules and progress tracking
Job management software allows you to confidently stay across projects while managing your team. It creates comprehensive schedules directly from the estimate, saving you hours, or you can use a template with pre-selected tasks. Assigning work and monitoring progress from start to finish becomes seamless, with built-in collaboration features ensuring everyone stays aligned and informed. Instant updates and notifications ensure all work teams stay informed when schedules slip or require adjustment.
Monitors project profitability in real time
Cost tracking software helps builders to stay on budget and in profit, allowing you to effectively monitor all project expenses, and easily see how much has been spent as the project progresses. By seeing up-to-date numbers, you can minimize risk early and identify opportunities to save on costs. This type of software ensures that no crucial financial aspect goes unnoticed; so you can make informed decisions throughout the project. All of this is made easier when using the same software to also create accurate purchase orders, work orders and invoices, all while syncing with any existing accounting software that you use.
Manage renovating projects in one place
As you can see, rather than relying on individual software tools for each step of a project, it’s worth the time to learn an all-in-one solution that streamlines the entire renovating project. With an integrated renovating software system, you get a seamless end-to-end workflow, allowing you to oversee all aspects of the project in one place. This way you can accelerate estimates, manage schedules, track progress and monitor profitability in real-time, ensuring efficient and informed job management from start to finish.
Ready to supercharge your next client renovating project? Try Buildxact’s integrated renovating software at no risk to you. Start a 14-day free trial or book a demo today.
