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Building Cost Calculator

Posted by In Blog, Cost Estimation, Outsourcing

House Building Cost Calculator | Cost Estimator | ServiceSeeking Price Guides

 

How do I estimate the cost of building a house?

For example, if your new home is to be 2,000 square feet and your builder estimated that it would cost $350,000 to build, then your cost per square foot is 300,000 divided by 2,000, or $175.

These costs per square foot do not include the cost of land, local impact fees, financing costs, marketing costs, or sales commissions. The cost of land or building site varies tremendously depending mainly on location.

For home builders, the ideal breakdown of the selling price or market value of a new home is as follows:

25% material, 25% labor, 25% land cost, 12.5% builder profit, and 12.5% builder overhead, which includes the cost of running their business, construction financing costs, and the new home’s marketing and sales costs.

All builders must constantly balance the material, labor, land, and overhead costs when estimating the costs of building a new home. This is what construction cost estimating is all about.

How many bags of cement do I need for 1000 square feet?

About 0.38 cement bag is used per sq ft of construction. So, around 400 bags of cement (50kg each) are consumed for 1000 sq ft home. Sand is not only required for preparing RCC, mortar and plaster but also used for filling and flooring too. Sand consumed is about 1200 cubic ft.
How much does it cost to build a house? - hipages.com.au

How much should I charge for labor?

Industry average of $35/per hour. Industry average cost for this job = $4200 (120 x $35) To achieve a 30% gross margin, this labor cost needs to be marked up approximately 43% Industry average price = $6006 ($4200 x 1.43) – so this is the labor rate (price) included in the quote to the customer.

Consider the Style, Quality and Features of your House

The cost doesn’t only depend on the size and dimensions of your house but also on features and styles that you select from architectural point of view. Talking about style, we refer to the shape and dimensions of various elements like stairs, terrace etc. The cost for the element which is square or rectangular in shape is lesser as compared to round or some special shape. Similarly, if we have multiple stories in a building then the cost will be lesser as compared to a single story with same total square footage.

Quality takes into account the type, color and dimensions of of various construction materials. The cost greatly depends on the quality of material. For example, Marble counter-tops will cost you more as compared to granite counter-tops. Moreover, building features like the roof pitch, overhang dimensions and span lengths will also impact the total budgeted cost of project.

How Much Does It Cost to Build a House? | DaveRamsey.com

Here are a few benefits of purchasing a Cost-to-Build Report:

 In two business days, you will receive your personalized Cost-to-Build along with 24/7 online access to your budget for 30 days after purchase. Plus, you can download your Cost-to-Build Report at any time during that 30-day period so you can share it with others and reference it in the future.
 you’ll get a customized quote estimate based on the actual house plan, your location, your finish choices and even sweat equity contributions.

Cost varies by region

Region is one of the biggest cost factors in building your own home. According to the ”U.S. Census Bureau Survey of the Median Price per Square Foot” of new single-family homes in 2017, the average cost was $161.53 in the Northeast, $139.48 in the West region, $100.01 in the South, and $106.79 in the Midwest. It will cost you the most to build in the Northeast.

Steinke also says that there are build restrictions that vary by city, county, and state. Check the land rules and regulations before embarking on construction, which an agent can also help you do.

“Having a Realtor who knows the local area mitigates your risk,” Steinke says.

If you’re trying to save money by building in a rural area in particular, you’ll also need to consider the costs of installing a septic system or sewer hookup, propane for heating, and how much concrete you’ll need to reach the road.

Systems that are considered more luxury or high-end, including plumbing, electrical, and HVAC, can cost around $34,000. The HVAC alone can cost anywhere from $3,250 to $12,586 for a 2,000-square-foot home, while plumbing and electrical work will cost around $10,000 each, depending on the size of the home and number of bathrooms.

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