Normally, in our professional practice, in doing cost estimate, it will always depend on the design, location, materials, and method of construction. Usually, we itemize all the scope of works and construction materials, based on plans which are produced or drafted by the architect (or by us). However, it will take days or a couple of weeks to produce such detailed data.
But for quicker budgetary projection, we can also compute a rough estimate cost for labor and materials of a certain project by multiplying the total floor area of the proposed building to the up to date cost per square meter. This is just a quick basis or reference of how much will it cost to construct a structure.
For example: A two-storey house with a ground floor area of 50.00 sq.m. and a second floor area of 60 sq.m., with a total floor area of 110 sq.m. x Php 18,000.00 (Basic Cost) = Php 1,980,000.00.
But for quicker budgetary projection, we can also compute a rough estimate cost for labor and materials of a certain project by multiplying the total floor area of the proposed building to the up to date cost per square meter. This is just a quick basis or reference of how much will it cost to construct a structure.
For example: A two-storey house with a ground floor area of 50.00 sq.m. and a second floor area of 60 sq.m., with a total floor area of 110 sq.m. x Php 18,000.00 (Basic Cost) = Php 1,980,000.00.
We have prepared friendly reference or guide for our quick computation on our cost estimate. Based from the image above this paragraph, we have categorized the rates into three. First is the "Basic Cost", then the "Mid Cost", and then the "High Cost". From our project requirements, we can now easily determine a quick budgetary projection, by multiplying the computed total floor area of the proposed structure to the cost mentioned or pictured above.
Our client, somehow, can now have a brief idea on the construction cost of his house or building.
Our client, somehow, can now have a brief idea on the construction cost of his house or building.