Building Cost Estimating

 

You Can Make A Good Building Cost Estimate Before You Begin


The total cost of building a new house is determined by the standard of “cost per square foot.”  

This is generally figured by using a dollar multiple times living space (heated area) and does not include the garage or carport. 

Professional house builders can get an accurate total cost-to-build figure in advance, somewhat because of experience, but more because of the fact that most of the houses they build are houses that they have already built several times before.


Estimating is less precise on a house that you are building for the first time.


That is true not just for the “build a house yourself” person, but for professionals as well.

 

You can still do a reasonably good job of cost-estimating and you should make the effort.

 

Hard and Soft Building Costs

 

There are two kinds of house building costs, known in the trade as “hard” and “soft” cost.

Hard cost consists of the cost every single tangible object (“matter” if you’re a physicist) that is nailed, screwed, glued or otherwise attached to the finished house.

Included in that hard cost is the cost of the labor to put all of it there.

Soft cost consists of the intangibles:

  • Builder’s Risk Insurance
  • General Liability Insurance
  • Temporary Utilities
  • Dumpsters
  • Permits and Fees
  • Construction Loan Interest
  • Soil treatment
  • Surveys


Anything else that you can think of that is not a physical part of the finished product should be considered a soft cost.

 

Read more about Building Cost Estimating...

 

 

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