A construction permit or building permit is a permit required in most jurisdictions for new construction, or adding on to pre-existing structures, and in some cases for major renovations. Generally, the new construction must be inspected during construction and after completion to ensure compliance with national, regional, and local building codes. Failure to obtain a permit can result in significant fines and penalties, and even demolition of unauthorized construction if it cannot be made to meet code.
Economic impact of building permits[]
Since building permits usually precede outlays for construction, employment, financing and even furnishings, they are often a leading indicator for developments in the rest of the economy.
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