Whether planning to build a house, residential homes, building or renovate roads, the process is still the same; it needs to have a cost estimation. If not, it could risk the future direction of the constructed project, which can even lead to shutting a project down because of cost overruns. Therefore, it is in the best interest to spend time researching and studying the expenditures before constructing. To help you effectively complete a project without delay, we present to you our Ready-made Construction Cost Estimate Templates. Compatible with different versions of Google Docs, 100% customizable and print-ready in A4 & US Letter Sizes. Stop having second thoughts, subscribe to experience the convenient estimation now!
How to Make a Construction Cost Estimate in Google Docs
Construction costing is the approximate prediction of the expenses for various types of construction projects, from remodeling to structural efforts. Based on the US Bureau of Labor Statistics, in 2014, there are 213,500 cost estimators and is anticipated to grow by 9% over the next decade. In a competitive scenario, people more likely to get an estimator who quickly prepares a bid that fits their desired project design. So, as an estimator, the effort and time you invest in the estimation process must be feasible than other estimators. To help you flourish such skills, we have prepared well-research guidelines on how to make a fast but quality cost estimate for construction. Here's how:
1. Compile All Initial Information
Begin by putting the essential details such as the estimate no., issuance date, validity duration, estimator's name, and the project's name. You may also include primary information about the sheet's recipient, such as the company's address, logo, and email add. Additionally, if you are under an estimation company, you can indicate its brief contact information.
2. List of Essential Materials
As Dmitri Mendeleev quotes, "A plan without the material is nothing but a castle in the air." Of course, the physical structure of a project wouldn't be made without the materials. That's why, on this step, you need to list all the required items for the construction. Alongside this, you need to establish the quantity of each material.
3. Deal with the Costs
The highly recommended method in estimation is to affix a unit cost to each item listed in the previous step. Also, the calculation includes the labor services, equipment, technology, and tools needed in the construction project. Moreover, since this involves money, you can't afford to make errors for miscalculations lead to a significant loss. Hence, in attaching the cost, primarily reach out to qualified contractors for accuracy. Please take it as a suggestion that when cost estimating, apply the rounding method to the nearest unit for a quick estimation.
4. Create a Table and Transcribe Content
To present the details thoroughly, you need to make a table. Add some rows and columns, depending on your estimation. These include the information but not limited to the description, labor hour & rate, material prices, equipment costs, escalation, area costs, bonds, etc. You can also divide and label the cells according to your preference. Then, transfer the list of information and unit prices in the table. Moreover, unforeseen factors may arise to prevent such, include contingency, which typically has a predetermined budget for added expenditures.
5. Give the Document to the Client
It is advisable to present the document personally to the client rather than sending it through email. At some point, clients would need to clarify something on the constructed cost estimation. Thus, handing it face to face would build a connection, since you can address their questions directly. In this way, you could gain feedback and may result in future reference.
