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Views: 0 Author: Site Editor Publish Time: 2021-02-02 Origin: Site
Accurately estimating construction costs is essential if you aim to complete your house on time and within the allotted budget. Underestimating cost and you risk both not being able to complete and the additional expense of securing additional financing. Overestimate, and you unnecessarily increase your financing costs with higher fees and the cost of having funds tied up that could have been used elsewhere. Even if you are contracting the entire job to a professional, you benefit from knowing how he arrived at his estimate and whether or not it is reasonable.
Have an architect or draftsman draw house plans, or purchase a set of bid plans. Bid plans are used for estimating and cannot be used for actual construction. The plans should include the materials to be used in constructing the house, as well as the house's dimensions.
Contact a general contractor to get a quote for total labor cost or, if you are comfortable overseeing construction yourself, contact individual trade contractors for cost estimates. Contact the following contractors: grading, cement, framing, siding, gutter, roofing, plumbing, electrical, HVAC, insulation, drywall, flooring, finish carpentry and paint. Add the costs to find the total labor cost.
Take the plans to a local supply house or to the pro desk of a large home improvement, such as The Home Depot or Lowe's, and request a material estimate for lumber, doors, windows, trim, pipes, wires and siding. Prices for light and plumbing fixtures can vary greatly, depending on your personal preferences, so total these items separately. Add all costs to find your total material cost.
Add total labor cost, total material cost and the cost of plans, permits and insurance to find total construction cost.
