As the economy in Canada continues to strengthen, one good side effect is that the Canadian dollar will continue to rise and eventually reach parity with the U.S. dollar. This will manifest itself in a variety of great ways, and one of them is bolstering the prefab steel building industry and all of the other industries that it affects. It’s always imperative that you think about what you want your structure to be like in the end so you can get exactly what you’re looking for at costs that will be reflective of a stable economy. Here are just a few ways that a rising dollar means good news for prefab steel buildings.
Prefab steel is already affordable, more so than buying raw materials to build a structure of the same size. There are times when products or add-ons will need to be shipped from the United States in order to complete the project, and with conversions and shipping this is something that can add up in cost quite quickly. As the loonie strengthens and becomes closer to parity with the American dollar, it becomes less expensive to order anything from the U.S. This is perfect because orders you might have been putting off or purchasing in small quantities to offset the total cost in CAD can be ordered much faster. It will be much easier to stay under budget when the final price won’t dramatically change from one currency to the other.
With a higher dollar, more options will open up to you in terms of your steel building’s final appearance. This could mean a variety of things, from ordering custom siding that would have otherwise been too expensive to getting cheaper shipping costs if any part of your structure has to be shipped from elsewhere. A stronger dollar means a lot more choice for buildings to look a variety of ways. Oftentimes, some of the more intricate customization options have to be shipped in from the U.S., so a stronger Canadian dollar gives you the opportunity to order these items without having to think about the converted costs being exorbitant.
Stay On Track
Making initial purchases for your steel building is one thing, but it’s the costs that may come up later on during the building process that can sometimes throw a project off course. With a Canadian dollar that’s much closer to the American dollar, you can anticipate some of these costs much easier. In addition, the value is projected to continue to increase and level off the well into 2018, so it will be simple to anticipate long term project costs and stay under your agreed budget.
When your budget frees up because you end up saving money from a more stable dollar, this frees up capital to create more structures either now or later. Whether you wanted multiple structures in the first place but decided against it due to cost or your needs changed later on, the savings will give you the ability to put up structures in other places as well.
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