Are you planning to get a new home for yourself? Well, if it’s a readymade home then there isn’t much to do. But if you are planning to build a home from scratch then you might just want to be aware of a few things before you begin the process.
Inaccuracy while estimating a construction can be an expensive mistake for you. Estimation is considered to be one of the most challenging jobs in the construction industry. Every project is unique in its own way.
Takeoff Service
Thus, you cannot use the same methodology of estimations for all projects. I AM Builders, a construction estimating takeoff service, knows exactly the quality of work that needs to be put into each estimation.
Let us now understand a few very common constructions estimating mistakes which people are guilty of committing while building their dream home.
1. Not analyzing the construction site properly
Different construction sites ask for different levels of analysis. No two construction sites are identical. Hence, always ensure that your builder visits the construction site before beginning with the process. A proper measurement is expected to be taken rather than designing an entire blueprint of the construction on the basis of mere assumption.
Road access and traffic around the construction site help in determining how much space is available for staging, equipment, and materials delivery and storage. In addition to it, it gives an overall idea of what environmental precautions must be taken during construction.
2. Labor costs estimation
Labor costs are considered to be the hardest and the most expensive cost to estimate before the construction begins. Availability of workers for the project, experience level of these workers, pay rate of them and the productivity rate, all determine the labor costs.
It is simple, a good and experienced level worker will get a higher salary for the high productivity rate than someone with less experience. Do not forget to consider the construction plan while fixing the wage rates.
Every project is different from each other and you cannot afford to have a labor strike for a wage hike due to incorrect estimation.
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3. Materials and supplies cost estimation
Estimations of materials and supplies costs are a prime requirement before beginning the construction process. It needs a thorough analysis of the entire construction site to estimate the materials and supplies which will be required. It is also considered to be one of the most difficult costs that can be estimated.
Estimate materials and supplies cost accurately so that you don’t fall short on the budget later. Try and build strong relations with the product manufacturers and suppliers. This has a great advantage in the form of fixing an accurate price or providing you with an alternative material best suited for your project when the original stock gets over. Isn’t this really helpful?
4. Incorrect assessment of risks
Building your dream home from the scratch comes with significant risks. A proper assessment of risk is really crucial for your dream project. Risk assessment helps in a better understanding of the problems which you might come across during the construction process.
A prior estimation for contingencies helps to avoid any risk. In simple words, the bigger the risk, the more your project manager has to spend time resolving the risk. Obviously, giving an impact on your other costs.
5. No reviewing of work
Mistakes are fine. We all are prone to making mistakes. Estimations actually mean calculations on the basis of a few assumptions. Hence, there is a probability of a mistake while making estimations. Reviewing those estimations is as crucial as estimating altogether. Always remember, one estimation error can result in a very expensive mistake.
Ask your estimator to take adequate time and if required pay him extra. Do not risk cutting down on your estimator’s budget. It might just turn into a very expensive mistake. You can only profit from a project if you have a well-prepared estimation of costs. Ensure that your estimator uses the best construction management software for the estimation of your project.
Over to you…
Well, if you are seriously planning to get your dream home ready, then you know what are the things you must look into before you begin with the construction. Make sure you don’t commit these common construction estimating mistakes or else you will have to regret it later!
