How to Estimate House Construction Costs

There are many things to be considered while constructing a house. But the most preliminary step is getting a cost estimate for the construction. The costs vary depending on how the house needs to be built, on the location, and how much is your budget, etc.

Now, you might be wondering why the initial estimate is necessary? Outsourcing construction estimating or getting the estimate done from professional companies has the following benefits.

• Getting a rough estimate of the total construction cost
• It helps clients in choosing the potential contractor
• Gives information beforehand on the materials required
• Allows to manage the budget, cost, and time
• And the project can be planned and executed quickly

However, to help you understand the process, we have jotted down the steps on how you can do the estimation of your construction project.

Steps for House Construction Cost Estimation

Identification of Floor Plans

The foremost step to do the estimation is to get the drawings or floor plans ready. You can do this by contacting the local construction consultants. This way, you will get blueprints of the type of house you want to construct as per your requirements. Moreover, you can find a variety of floor plans on the internet as well and from there you can select a plan that you find the best fit for your plot.

Additionally, the drawings on the internet can be customized. So, you can choose a plan and customize it accordingly. Also note that stairs, lobby, kitchen, washrooms, bedrooms, and all desired units are indicated in the plan.

Share Plan with The Builder and Compare It With Nearby Locations

Once you draw all the elements in the floor plan, the next step is to share it with the builder or contractor. This will help you get the cost of the construction of your house per square foot. The cost depends on the quality, size, features, and styles of different elements included in your plan. The contractor or builder will tell you the estimated house construction cost by multiplying the cost per square foot by the total area covered.

It is recommended to have 2 or 3, floor plans ready and get the quotation from different construction estimators to validate the final result. While estimating the cost, you should also compare the cost of houses already constructed in your area. All you have to do is find a house similar to your dream house and get its total cost. Then subtract the land cost from the total cost. Divide the calculated value with the total area and you will get the unit price per square foot.

Use Online Tools for Fast Estimation

For a quick estimation of house construction costs, you can also try some online tools. These tools help you calculate the approximate total cost you will need to construct your house. The costs of materials and labor vary, depending on the location, so you first have to select your locality.

Furthermore, while trying online tools you also need to provide additional details such as the size of the building, number of floors, doors, windows, number of bedrooms, etc.

Features, Quality, And Style of the House

The cost estimation not only depends on the dimensions, size, and location of the house, but it also depends on its features and style. Style means the dimensions of different units you want to select such as the style of stairs, porch, or terrace. It also refers to the shape you select either rectangular, square, or some different shape.

Similarly, the cost per square foot of a multi-story building is less compared to the single-story with the same total square footage.

While talking about quality, colors, types, and dimensions are considered and the cost depends on the quality of materials used. For example, if you opt for marble countertops, the cost will be increased compared to the granite tops.

Final Words

To get the most accurate cost estimate, we recommend you consider all the parameters necessary such as specific features, location, dimensions, quality of materials, etc. It’s good if you know how to estimate, however, if you outsource construction estimating services, you will achieve almost precise results.