A building cost guide is an essential tool used for planning and estimation of what it would take to invest in a given building project. A building cost guide is usually very efficient in determining the cost of properties and they are largely accurate because they use current pricing and GFA (Gross Floor Area) to help come up with near-accurate estimations of costs. Unlike construction cost estimation software that are used by engineers and architects to estimate the cost of mainly large construction projects, building cost guides are comparatively easier to use and can also be used in calculating the costs of small projects such as building a house for a small family. Typically, building cost guides are used based on the type of construction to be undertaken and at times comparisons can be made against existing buildings.
This therefore means that a person who is interested in building a penthouse will not just depend on his knowledge, but will also want to research widely and find out the cost of land in that locality, the cost of sand, timber, sand and other materials in accordance with the prevailing market prices within the area. A building cost guide is also a very useful tool for those people who are undecided on whether to purchase homes that are readily available or to construct them from scratch. Learn about cordell estimating software here.
Unlike a construction cost estimating software, a building cost guide is not a software but it is more of a catalogue, with a number of items listed on it. For business people using the building cost guides, it is important that they leave room for overheads in order to be able to make profit. Building cost guides are based on a number of variations that come as a result of projects being built on different localities. Even though these guides are usually available online, it is important to note that they keep on changing due to time variations which ultimately lead to variations in prices. Therefore contractors must make sure that the building cost guide that they intend to use is one that is based on the latest market prices for the products they intend to use.
It is also important to note that you need to incorporate certain externalities such as tax depreciation and environmental regulation standards and practices because they can ultimately affect the cost of the project. Different regions also use different models to come up with building cost guides. Some of those include Fully Enclosed Covered Area (FECA) UCA (Unenclosed Covered Area)