Sometimes it would be nice to have a quick and easy way to estimate the cost of a project.
Four inputs will provide a breakdown you can use as an initial pricing model for a project.
Obviously, your estimate numbers will vary based on your region and on your market niche.
If you find any wide variations thast cannot be explained by regional factors, check your estimate to make sure you have the right numbers.
Use caution if you decide to show the results to a prospect. This is a “sample of the kind of pricing the prospect might find for a basic project”, or some wording to that effect.
Do not sign a contract based on this pricing!!
For more detailed estimated pricing, consider using the BBOS Estimator from Builder Resources.
Enter the “Square footage of house”, Build Cost per sf”, “Interest Rate 1”, and (optional) “Interest Rate 2”. The worksheet will break out the phases based on the variables.
As presented, the variables are based on national averages.
The “Time in Days”, and “% of Cost” variables can be customized for your business model.
If you do customize the variables, just be sure that the totals still aggregate to 100%.
If you customize this tool for your business model, save it as a template so you can call it up to use for future analyses.
Use this tool to create a quick estimate of building costs and loan costs for a project on which you are responsible for providing the financing. These could include spec homes or model homes.