The Ask the Builder New Home Construction Estimator, developed by national award-winning builder Tim Carter, is a simple spreadsheet that helps you estimate the cost of your new house.
This amazing spreadsheet will get you in the ball park giving you a rough idea of what your new home will cost as long as you input the correct data.
This product is NOT a substitute for taking the large amount of time to get actual bids from all suppliers and sub-contractors. If you want the exact number your new home will cost, then invest the time to get all those bids.
Time-tested formulas that thousands of lenders have used for decades to ensure builders do NOT get more money than they deserve at each draw are embedded in the spreadsheet.
WATCH THIS VIDEO:
- Easy to use
- Saves you thousands of dollars
- Prevents misery
This spreadsheet works in Microsoft Excel, Apple Numbers programs, and it opens in Google Sheets.
How to Use:
1. Get estimates for just three simple things on your new home like:
- roofing labor and material
- drywall labor and material
- electric labor and material
2. Enter just one of these numbers next to the cell in the spreadsheet with that name.
3. Click your RETURN key on the keyboard and all other numbers are magically filled in!
ONLY ENTER ONE Project Item NUMBER to get the best result.
To arrive at closest estimate for your new home, repeat the above using a bid from a different aspect of the project. Average the total costs created by the spreadsheet to refine the total estimate.
For example, create one total entering in the Roofing estimate. Record the TOTAL estimate cost. Then start over and enter in the estimate for the Foundation estimate. Then start over and enter in the Drywall estimate.
It's super easy!
High-Priced Items DANGER: If you decide you want a deluxe kitchen in your dream home and you've gone to a showroom to get the cabinet bid, this single number could cause the total estimate to be way off. For example, you may select cabinets that are priced at $65,000 when a normal house this size may have cabinets costing $20,000.
Many of the Project Items in the spreadsheet are linked to one of my AsktheBuilder columns or search results. This way you can just click on an item and get more information about the subject.
The spreadsheet breaks the cost estimates down into each component of new house construction. If for some reason your construction won't include a particular item, just enter a Zero for the cost and it won't be included in your total.
This screen shot shows just a few of the over 50 items listed.
This product is meant to be used as a tool to provide a generalized estimate for a new home. All homes are different, and custom homes can have specialty materials that can cause the square-foot cost to greatly exceed national averages.
Do not use this tool or the Project Total Cost figure this tool creates as a basis to borrow money for a new home or to enter into contracts for any home-building project. This tool is designed to just give you a rough idea of what the total cost for building your home might be.
It's always best to obtain a written estimate from a reputable builder and then contact an attorney that specializes in negotiating building contracts before you sign any document committing you to building your new home.