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Pay top dollar for construction equipment made by the best names in the business

As with most other tools and equipment, there are some manufacturers who are more recognizable than others in the construction equipment arena. Names like John Deere, Caterpillar and New Holland are familiar brands in construction equipment manufacturing, and you can get a good idea of the pricing and costs of construction equipment by looking at these manufacturers' selling prices.

I recommend: Find new John Deere tractor scrapers for just under $200,000 at Rock & Dirt. Contractors Hot Line features a long list of used and new construction equipment, including 2006 and 2007 models of Caterpillar excavators, many listed for between $200,000 and $250,000 depending on the size of the machine.

Consider renting as an affordable alternative to buying construction equipment

You won't likely need every type of construction machinery on hand at all times. You might consider renting certain types of building machinery only when certain projects call for that particular piece of equipment. Besides avoiding paying the high price tag for pieces of construction machinery you seldom use, with this option you'll also avoid having to pay any maintenance or upkeep costs as well.

I recommend: Turn to RS Equipment to rent backhoes, skid steers, loaders and more, from a few hundred dollars per day up to a few thousand dollars per month. Take advantage of significant savings if you rent from the company for extended periods. Grants Rental offers daily rates for Bobcat construction equipment, from below $50 per day for attachments, up to nearly $300 per day for large equipment such as excavators and backhoes.

Save on pricing by shopping for used construction equipment

You can keep the initial costs of buying construction equipment down by purchasing used construction equipment. You'll find great bargains for used equipment in good and even like-new condition. If you're in the market for construction equipment and your budget can't cover the pricing and costs of new construction equipment, going used is ideal.

I recommend: Visit Global Machinery Network for a list of used construction equipment for sale, priced from several thousand to tens of thousands of dollars depending on the type of machinery for which you're shopping. Bid for used construction equipment and in most cases spend well under $50,000, even for heavy construction equipment, at IronPlanet.

Use an online calculator to figure construction machinery costs

Do the math before you buy on leasing vs. purchase, operating costs, and useful life of construction equipment.

I recommend: The Custom Cost Calculator from EquipmentWatch factors in actual heavy-equipment costs so you can compare your situation to the norm for construction companies. Or use the calculator at Lease-vs-Buy.com.

Helpful advice for making the most of this Guide

• •  Factor in the rising cost of steel or iron and even gas prices when budgeting for the cost of new construction equipment.

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Determine the industrial building materials you need

Contact building inspectors or contractors to determine the type of construction work needed on the construction site. Then, ask for an itemized list or an estimate of the necessary materials and building supplies. This will give you the best idea of what you need to rent or buy for the site -- for example, you might find that a particular job only requires one truck crane.

I recommend: Machinery Trader lets you search for equipment for sale and rent. Estimate your renovation costs with the Home Renovation Estimate calculator. NES Rentals lets you rent specialty construction equipment.

Decide whether to rent or lease your industrial building materials and other needs

Once you have done the math, it should be simple to determine whether you get a discount by having your own building machinery and equipment. If you can realize significant savings by only paying for labor, you then need to decide whether to rent or buy your construction equipment. If you only do renovations once in a while, construction equipment rentals are optimal, especially if you can get insurance and transportation included in the cost.

I recommend: Truck Lenders has an array of construction equipment and materials for lease. RSC Rentals allow you to rent equipment, construction supplies and machinery from more than 500 local dealers.

Look at used construction equipment for sale or investigate renting through your contractor

You can buy heavy construction equipment and used industrial building material online, often at good prices, but by shopping this way you buy sight unseen. Unless you are very knowledgeable about equipment and building materials, it is better to buy from a dealer or via auction. Contractors are often a good source for used construction equipment.

I recommend: Ritchie Bros. Auctioneers is a good place to bid on used construction equipment online. Visit the Industrial Classifieds for more used equipment and supplies.

Helpful advice for making the most of this Guide

• •  Most contractors rent their construction machinery to improve cash flow and to ensure newer equipment. You may be able to reduce labor costs and the costs of equipment by working with other investors to share equipment expenses. If buying, just remember that storage costs as well as insurance are your responsibility. If these additional costs prove too much, consider leasing.

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Get construction equipment news and trends straight from the horse's mouth

No one is likely more qualified to offer the latest in construction equipment news than the manufacturers themselves. Learning about what top names such as Caterpillar, John Deere and New Holland are doing in the way of improving engine capacities, offering the newest features and options and providing state-of-the-art accessories, is key to keeping up with construction equipment news and trends.

I recommend: Click on any of the items listed under Construction Equipment at New Holland, such as skid steer loaders or compact excavators, and read about the features and capabilities of each of the newest models. Get current news about Caterpillar construction equipment, such as upgrades, enhancements and improvements to their line of loaders and tractors, at Warren CAT, a leading Caterpillar dealer.

Keep up with the latest construction equipment operations

Overall, construction equipment has come a long way in the past few decades. From productivity capabilities to comfort and safety features, top construction machinery manufacturers and less familiar companies alike increasingly draw upon new technology to improve their products.

I recommend: Check ForConstructionPros.com, McGraw-Hill Construction, Construction Equipment or Rental Equipment Register for updated construction machinery news. Heavy Duty Construction Equipment lists the latest innovations and updates to many types of construction equipment, from electronic operations to comfort features to improvements in maintenance. Read the blog at Machinery Stock for construction equipment buying tips, information about the newest machinery options, updates and technology and even construction equipment industry growth and outlook news.

Turn to construction equipment rentals for the latest in construction machinery

Construction equipment rental companies are a great place to view current models of construction equipment. Many manufacturers look to feedback from construction equipment renters to find out what users like and dislike about their construction machinery. Most rental companies offer the newest models from top manufacturers.

I recommend: Power Up Equipment Rental boasts about offering the latest models of construction equipment for rent; visit their website to see pictures and read about the features of a variety of models, from compressors to skid steers. Interstate Equipment Sales & Rentals lists 2007 and 2008 models of many types of heavy construction equipment, along with pictures of each piece of equipment available.

Helpful advice for making the most of this Guide

• •  Subscribe to magazines such as Construction Equipment Magazine or visit EquipmentWorldMagazine.com regularly for current headlines pertaining to construction equipment.

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Post hole digger

A post hole digger is a piece of equipment that is used to make a hole in the ground for posts. This is useful when building decks or porches, and installing mailboxes or any other items that are secured with a pole anchored in the ground.

I recommend: CoolHousePlans.com offers information on various types of post hole diggers.

Generator

A generator is a self-contained piece of equipment that produces power for other machines. In construction, these are useful for providing power to lighting and tools when the conventional power to the construction site hasn't been completed.

I recommend: Portland General Electric offers information to help you choose the best generator for your needs.

Crusher

A crusher is a piece of construction equipment that is used to crush rocks and other solid materials. In construction, these are used to make boulders smaller and easier to move. However, they can also be used to break up large pieces of cement and concrete.

I recommend: NationMaster.com offers information about commercial crushers, including specific information on various types of crushers.

Pile driver

Piles are used in some building and road construction or when constructing piers, to secure a structure to the earth. A pile is a heavy wooden or steel beam. In order to get the pile into the earth far enough to anchor the structure, a pile driver is used. This specialized piece of equipment repeatedly drops heavy weights onto a pile. The force pushes the pile into the earth.

I recommend: WiseGeek provides in-depth information about pile drivers.

Crane

A crane is a machine that is used to lift heavy or bulky objects. In order to be classified as a crane, the machine must have the capability to move the load horizontally after it is lifted but before it is lowered.

I recommend: The Occupational Safety and Health Administration offers a basic definition of cranes and discusses various types of cranes.

Bulldozer

A bulldozer, also called a dozer or wheel dozer, is a piece of equipment used to move soil, dirt and debris. It can be used to level the ground or move unwanted materials to another location. Some bulldozers have buckets, which enable you to scoop a material and dump it elsewhere.

I recommend: See a variety of bulldozers at the Caterpillar website.