Estimating Costs Of Building Materials For Home Construction

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  • 1-10 hours
  • Intermediate
  • 50,000-1,000,000

Before beginning any project, make sure you know what building materials you will need and how much they will cost. Estimate the costs of constructing your new home to get an idea of how much money you need to save or what kind of home loan you need.

1. Time

Any estimation will only be applicable for a certain period of time. If you try to estimate your needs now, you might have to change that in a year or two.

2. Experts

Estimating your home construction is not an exact science, but you can get rough figures that will guide you. Contact a few different contractors in your area to get their unique estimations. All contractors will be able to give you a rough estimate based on:

Square footage

Landscaping

Kitchen size

Number of bathrooms

Siding choice

Home shape

Number of stories

Basement

Costs vary widely depending on your location so it's best to rely on local professionals who are knowledgeable about typical material costs in your area.

3. Overruns

Whenever you are estimating the cost of building materials, expect to have cost overruns. There will always be something that is going to be needed, or changes made, to drive the price higher. In preparation, add in at least 25 percent to the total estimation.