Three Benefits of BIM in Real Estate Development

The world of real estate development is constantly evolving, and with it comes new technology. Building Information Modeling, or BIM, is a technology that we at Beach City Capital use and utilize often. This technology offers many benefits, including fewer building mistakes, and better cost forecasting when designing a project.

Here, I uncover the three benefits of building using BIM technology when developing real estate and how it works.

How BIM Works

BIM stands for Building Information Modeling and is the latest digital transformation in the architecture, engineering and construction industry. A 3D building design technique, BIM allows pre-construction clash detection, which mitigates and eliminates potential issues when it comes time to actually construct the project. Instead of multiple sets of drawings, BIM uses a coherent set of interactive building models that outlines the physical and functional characteristics of the building. In turn, it reduces mistakes upon construction, allows for better cost forecasting of the overall project, and actually reduces building costs. In addition, it improves time management, as it allows all components of the building design to work together.

Three Benefits of Using BIM

1. Clash Detection

Clash detection is extremely important when developing a building, and it is something that BIM can assist with. Essentially, it helps identify any interference in a project model, reducing human error when it comes time to build. Enabling contractors, architects, and engineers to work together, it ensures for a smoother building process overall. An example of clash detection would be piping throughout the building. BIM technology can identify if any of the piping in the walls clash with one another before the development begins.

2. Better Cost Forecasting

As an investor, this is key when investing in real estate development. The use of BIM technology helps to better forecast the overall cost of the entire project. This, in turn, lessens the risk for investors, as it is fairly predictable. With a more solid understanding of the actual cost of the project, BIM allows developers to truly grasp and accurately portray the final costs, eliminating surprises to finances. According to The Construction Executive, BIM can estimate cost within 3% accuracy.

3. Increases the Use of Prefabrication

Prefabrication and BIM go hand in hand, as it allows us to develop walls off-site and then transport them to the construction site. This saves on the cost of labor, as it does not require as many workers, while also saving on time. It also helps to shorten the schedule of the project, which is appealing to investors. Through the use of BIM, we are able to use prefabrication on all of our projects.

At Beach City Capital, we make it a priority to work with the most up to date technology available. It is important for me to see my team working in an efficient manner. If you are interested in investing with us, I’d love to hear from you and discuss the opportunities we can provide to expand your portfolio. Feel free to send?