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Precast concrete can mean lower costs due to shorter construction times and reduced site defects.

National Precast Concrete Association

When priced in isolation, precast concrete may appear more costly than traditional construction methods. However, when factoring in the cost savings from other project inputs, the project as a whole can experience significant cost savings using precast concrete.

Precast concrete offers a faster construction option, meaning lower costs. The shorter construction times mean earlier completion, translating into earlier rental income, while high-quality precast results in reduced costs from site defects. On-site trade supervision and labour costs are often less, as are scaffolding and propping costs and storage costs of plant, tools and materials. Factoring in all these savings means that precast concrete is often a more economical choice.