Pricing Equipment for Construction Estimating

Equipment expenses constitute a significant part of construction costs. It is important to accurately quantify and price them when preparing an estimate for a job to ensure that the bid is both competitive and profitable.

In this post, we will discuss how the equipment expenses can be calculated and presented in an estimate. We will also take a look at the process from two different points of view – as a general contractor, and from a trade contractor’s perspective.

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Types of Construction Estimates

The aim of preparing an estimate is to convert a set of construction documents, such as drawings and specifications, into an accurate and useful budget to find out the approximate cost of the project.

Each type of estimate relies on a particular source of information and offers a different level of detail, and, consequently, accuracy.

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Construction Estimating Process

Whether you are a project owner, general contractor, subcontractor or an advanced DIY enthusiast, getting a good idea of what costs will be involved is the first very important step on the way to the success of your construction project. Exceeding budget, overbidding and loosing a tender or ending up with no profit is something we simply cannot afford.

Though not a rocket science, construction estimating is a fundamental discipline that  sets out a framework for predicting the building costs with  a reasonably high degree of accuracy.

There are different ways of estimating a construction job. Here, we propose a method that features the following 5 steps:

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