Building Cost Estimating (cont., pg. 3)

 

Building Cost Spreadsheet


A spreadsheet is an excellent way to keep a handy, organized record of projected costs, actual costs, and payments, among other things.

The spreadsheet will organize all of the items on one form, along with names of material suppliers, subcontractors, and the specific task that each is performing for you.


The options for spreadsheet software with building estimating capability are plentiful.


There’s nothing wrong with keeping an old-fashioned paper ledger as long as you’re diligent in its use and don’t leave anything out.

 

Building Cost Estimating Websites

There are websites that allegedly allow you to accurately estimate the cost of a house by answering some questions and punching in some numbers about the house you are about to build.

I can’t recommend one because I’ve yet to find one that’s anywhere close to being accurate.  One in particular overpriced a house I built by a shocking 40%, which happened to be about one hundred thousand dollars.

 

Building Cost Estimating Software

The software option is the preferred way, in my opinion. Software comes with many useful tools which you can customize any way you like.  And you can’t beat the easy, one-push-of-a-key reports.

Your cost-per-square-foot can and will vary greatly among different regional locations ─ and most importantly ─ how simple or luxurious you choose to make your house.

The software should figure these factors into the estimate it provides.  Do not, however, assume that it is infallible.  

If the software estimate of the cost of your house is out of line with what similar new homes are selling for in your area (remember there’s a builder markup in the price of those houses you see for sale) then the price for the real houses is probably more reliable.

Regardless of what any estimating software or what your own figuring tells you, remember that  as long as you are genuinely shopping prices in labor and materials and following up with good choices, you can be reasonably confident that you are building your house about cheaply as is possible.

And that means you are saving a ton of money.