As Costs Soar in Some Cities, Is It Time to Buy Used Equipment?

three construction workers

Nowadays, some building contractors are having a hard time because construction equipment is becoming more expensive. Used steel tipper bodies for trucks and other earthmoving equipment seem like a better choice for cash-strapped builders in Sydney, where construction prices are soaring due to the booming industrial real estate sector.

An analysis showed that construction costs in the city reached US$2,818.1 per square metre in 2017. It may not be among the most expensive markets, but it remains unaffordable for many companies.

Expensive Markets

New York City ranked as the costliest place for construction worldwide in the previous year. Prices in the Big Apple cost $3,900 per square metre, followed by $3,736.7 in San Francisco and $3,703.9 in Hong Kong. Zurich and London completed the top five with $3,652 per square metre and $3,617.7 per square metre respectively.

This means that buying second-hand yet durable equipment isn’t only applicable in Sydney, although there are certain things to consider before shopping for used construction equipment. For starters, buying pre-owned machinery may be more time-consuming than not purchasing a defective unit.

Buying Tips

It’s better to assume that the machine may not meet your requirements despite the previous owner experiencing the opposite. You should research the machine or equipment’s history, including details about possible loan obligations related to it.

If you’re buying a digger, check the vehicle’s fluids to learn more about its maintenance in the past. Be vigilant about any sign of water in the engine oil, since it can mean more severe problems. Don’t skimp on payment as well no matter how good the deal may seem to you. Low-priced equipment that only clocked in 1,000 operational hours will still be more expensive than a machine that can run for 10,000 hours.

Pre-owned construction equipment or machinery can be beneficial as long as you buy from trusted suppliers. How much do you intend to pay for used resources?