LIFE CYCLE COST
Developers and builders quickly learn that quality terrazzo flooring not only enhances a building’s image, it appreciates with the value of the investment, and when compared with maintenance and replacement costs over time for alternative flooring systems, terrazzo pays for itself.
KANSAS CITY MUNICIPAL ARENA
TERRAZZO COST CALCULATOR
Adapted from The National Terrazzo & Mosaic Association’s NTMA® Terrazzo Cost Calculator
Whether planning a new corporate headquarters or designing a new government facility, the main concern [of developers and builders] is with life cycle costs and the functionality of the new building. During the life of a building, the total cost of flooring can cost 35 times the initial installed cost.
To help decision makers evaluate the performance and life cycle costs of various types of flooring, a survey was made of floor finish materials across the United States. From this survey and from a study of other data available, a model was developed illustrating the actual cost of flooring during the life span of a building.
Through analytical study on a number of buildings, costs varied greatly due to traffic volume, proximity to a street entrance and standards of excellence set by the building owners or managers. However, the costs used here are typical for a corridor in a commercial building. Lobby areas, shopping centers, airports, or any area with heavier traffic will obviously require more maintenance and more frequent replacement of carpet or tile.
Developers investing in buildings for short-term resale soon discover that inexpensive flooring on the front end of an investment may cost them much more than their initial savings. Depreciation of value and compromised building image typically occur with bargain flooring. High quality flooring enhances a building’s image, appreciates with the value of the investment and often allows for higher income generation by the building’s owners.
TERRAZZO COST SAVINGS
The National Terrazzo & Mosaic Association (NTMA®) conducted an extensive study, compiling statistics from its own membership, the Institutional Research Associates, US Government Agencies, Sanitary Supply Organization and other agencies to determine national averages for installation, maintenance and replacement costs of various typical finishes used in hospitals, schools and other institutional facilities, based on localities. This information will provide a valuable guideline in determining flooring cost and performance.
Click to the left to download the original NTMA Cost Calculator PDF.
NOTE: These figures were compiled and averaged based upon installation costs of interior finish products across the United States. Therefore, they are to be utilized as a guideline to compare average life cycle costs. The actual installed and maintenance costs can vary respectively (either higher or lower) depending upon the design intricacy and location of the particular project.