How to use a construction cost calculator for budgeting
8 January 2025 – 4 Minute Read
Create a budget you can count on by figuring out expenses with construction cost calculators.
When you’re planning a new project that involves construction, knowing what the costs will be upfront will give you an excellent indication of the budget you need.
The cost of new construction can vary greatly from project to project, so when using a construction cost calculator you’ll find out how to calculate cost of construction per sq. ft.
Knowing an estimate of the cost of a project upfront can let you know how much you need to save to pay for the project, or how much you might need to borrow to complete it.
You can make your own cost calculator using a spreadsheet, but there are many sites that have already done the hard work for you and have their own construction cost calculators.
All you need to do is input the main details of your build and it will give you an estimate of house construction costs per square metre.
So, before you start using a cost estimation calculator for construction projects, let’s take a look at some of the many benefits.
Rather than trying to work everything out on paper, this type of online calculator can help you work out the construction cost per square metre for your specific project.
Detailed planning: you can work out the cost of construction at different phases of the build, such as laying the groundwork and building a second storey
Feasibility: by using a construction calculator, you’ll be able to see quickly whether the scale and scope of the project is feasible
Adjustments: if you use the calculator and the cost is too high, you can cut back on certain areas and see it adjust automatically for the new values
Contingencies: when you know a ballpark figure of how much the project is going to cost, you can set aside the right amount for any contingencies that arise
Managing resources: as you know what materials you’ll be using, you can arrange to have them delivered on time and stored properly, all within your budget
Convenient and accessible: online construction calculators can be used whenever is convenient for you, and can be shared with others in the project
As you can see, there are lots of pros to using a calculator to sum up construction costs and give you a good idea of how to move forward with the project.
You can make your own construction cost calculator with a spreadsheet by inputting the materials and labour into separate rows then adding them together.
However, there are many online construction cost calculators that you can make use of to simplify and streamline the estimation process.
You’ll still need to know all of the details, but it will help you to estimate house construction costs.
This will factor in construction framing costs, building materials, labour costs, and provide you with an overall house construction cost.
Have your basic details ready to go including how many rooms the build will have, the quality of the build, and the square footage
Next, add in your material costs and include everything you can think of such as how many windows, how many floors, and bathrooms, and so on
Now you can add in labour costs, if you know them, and the calculator will work out the labour rates near you, and take into account the build timeline
Fill in any other fields the construction cost calculator asks you for, as each one works differently and uses different values
Click to calculate, and the calculator will work out a total cost including everything from electrical and landscaping to roofing and plumbing
After you’ve got your cost calculations, you might want to resubmit the calculations with altered values such as square foot size to see if you can bring it in line with your budget, up or down.
It can be difficult to know exactly how much of a certain material you’ll need for a project, or how long it will take to build.
You might have to guesstimate the cost of services from tradespeople, which can leave you way over the budget if you get it wrong.
To find out the costs of materials, you can browse builders’ merchants and DIY stores and try to estimate the cost that way, but it can take a lot of time and you may be way off.
If you’d rather speak to a professional and get an accurate cost, you can find builders and building consultants on Yell in your area who can meet with you and provide a quote.
Likewise, you can post a free enquiry and let professionals contact you directly by phone or email. From there, they can provide quotes and estimated costs for your project.
For more cost-saving tips, DIY guides, and project advice, check out the Yell blog today.
