Estimating

Four builders working on a roof

How to estimate construction costs – The complete guide

The most important part of profitable construction projects is getting the costs right. If you undervalue the price, then you are going to lose money. If you are overvaluing your estimates, then you will most likely lose bids. Either way, incorrect cost estimates can destroy a builder or construction company. It can eat away at your profit margin or damage your reputation.

A builder estimates a project using Buildxact on their laptop.

What is a quantity takeoff and how are they done?

It doesn’t matter whether you prefer to call it material takeoff, construction takeoff or estimation takeoff, a quantity takeoff is an essential part of any building project. Whether it is a large or a small job, accurate quantity takeoffs can mean the difference between a financial disaster and a completed project that keeps everyone happy.

Buildxact customer Hagen Shaw of Shawco using a laptop on a construction site

The importance of construction cost estimation

Estimating construction costs accurately relies on many elements. It’s a necessary process and is what underscores the pricing of construction projects. The accuracy or inaccuracy of an estimate can make or break a business’ profitability. However, the elements involved can complicate the process and result in a lot of risk, whether from material price fluctuations to uncertai

The buildxact takeoff tool in a laptop screen on a job site

Construction takeoff software generates accurate estimates faster

The construction takeoff process when done manually with paper plans and a scale ruler is time-consuming and frustrating. It’s a process that often requires repetitive work while still resulting in inaccuracies. Because construction takeoffs are a necessary part of the construction industry, having a takeoff process that is efficient and accurate, is essential.

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