Built-in construction calculators to generate unit and total costs, markup percentage, profit margins and more.Construction category and subcategory input worksheet to organize the line items of your project and proposal.Project and company input sheet to add your logo, company information and project details.
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How to Calculate an Accurate and Profitable Job Estimate If not using software, Pearson suggests pulling price information from independent cost databases.
#Building estimate software#
Many software programs also let contractors use industry cost databases to quickly and accurately find prices. While not perfect, software programs often include features to help eliminate errors and prompts to make sure contractors are filling out as much detail as possible. Software Solutions Create Accurate and Fast Estimates One way contractors can work toward a more accurate estimate is by using estimating software.
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"Unfortunately, too many contractors provide ballpark estimates or simply agree to a subcontractor’s fee without verifying actual costs by comparing similar bids in the market or using a reliable database," Pearson says. Well an estimate is just that and not an exact quote, customers are looking for estimates that will be as close to the final total as possible. While it may be impossible to put together an exact time schedule for each phase of the project, make sure your bid reflects that your schedule is well thought out, well planned and organized. In addition to preparing a detailed bid, also be prepared to answer customers' questions in detail as well. Pearson suggests going even further into a thorough analysis of individual items such as the exact quantity of materials, subcontractors fees and the amount of time each laborer will spend on site. Instead of submitting a bid that just breaks costs between a few categories (such as materials and labor) consider detailing the cost breakdown even further for every phase of the job - and include completion times. "The level of detail in a contractor’s bid is an excellent indicator of how accurate the estimate is," Pearson says in the article. While this particular article is geared toward the customer, contractors can pick up a few tips on how to adjust their bids and estimates to reflect what a more educated customer is looking for.
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The national average cost to build an apartment building is between 4.5 and 50 million, with most people paying around 10. And if the customer is looking for it you'll want to consider giving the customer what he or she wants. This means that the cost to build an apartment building has an enormous range.
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Understanding the Variables of Successful BiddingĪ recent article on Software Advice written by Daniel Pearson offers customers suggestions on what to look for on a contractor's bid. With the vast amount of research and educational articles available online, customers are becoming more savvy about what they want not only in their construction project but also what they should look for on a contractor's estimate. In an economy where competition is fierce and customers are hesitant, what you provide in your estimate can offer you a leg up (or put you behind) the competition.