1. "Estimate Your Line-Item Construction Budget" worksheet
Enter only the “Total Construction Cost” figure, and the worksheet will break out the phases based on the survey results.
This information provides a quick glance at what you can expect for costs on the project. THIS IS NOT AN ESTIMATE FOR YOUR CLIENT. It for you and your estimator to use as a check on your estimating process.
2. "Your Project" worksheet
Use this template once an estimate is created to see how the costing on your project lines up with the costing in the survey.
The first entries in this worksheet will be the “Overhead” and “Profit” percentages expected for the project. We generally have a base of 12% and 10% respectively, but, if your market will bear it, adjust those numbers. If you have to go below the base numbers to get the project, you need to consider both your market and your process.
You will enter numbers in the green boxes, drawing those numbers from your project estimate. Once you are finished with the input, you can check your relative percentage of construction cost with the survey percentage of construction cost.
In the top section, “SALE PRICE BREAKDOWN”, you can enter a number in the “Total Construction Cost” cell or allow the defaulted entry from the “CONSTRUCTION COST BREAKDOWN”.
You will enter estimated costs or actual costs in the four other cells. The process will result in a potential Total Sales Price that you can compare with the information your estimating platform provided.