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House Construction Cost Calculator in Excel

Using market prices to determine material quantities and costs before beginning any building activities, a house construction calculator can be used to assess the prospective construction cost. Numerous computations are involved in this process. Excel can be quite helpful when performing these calculations. This short tutorial will take you through the simple process of using Excel's house construction cost calculation.

How to Use an Excel Cost Calculator for House Construction in Three Simple Steps

This tutorial will take you through three simple steps to use an Excel cost calculator for home construction. In the part that follows, we will go over our calculations for Material and Labour Costs as well as create a detailed summary of all the costs.

Step 1: Calculation of Material Cost for House Construction

  • First, determine the Cost of materials for constructing houses. To determine the Material cost, we must first establish a table. Six columns will be present in the table.
  • To begin with, make columns called No. and Materials so that you can enter material names and numbers.
  • We next require the amount and price per quantity to get the total Cost for materials. Add the quantity of the Materials, Unit, & Cost of the Unit columns to do that.
    House Construction Cost Calculator in Excel
  • To compute the cost estimate for the construction of houses in Excel, estimate the Cost of the materials.
  • Utilising the following formula, determine the overall Cost of materials once all the columns have been created.
= D5*F5
  • In this case, F5 denotes the brick cost of the Unit, and D5 denotes the quantity.
    House Construction Cost Calculator in Excel
  • Next, use Autofill for an approximate cost estimate for all the materials.
  • Next, use the SUM function to obtain the total Cost of the materials. This is the SUM function:
    House Construction Cost Calculator in Excel
  • So press Enter. You may then determine the overall Cost of the materials, which comes out to be $310,047.50.
    House Construction Cost Calculator in Excel

Step 2: Calculate Labour Costs for House Construction

We will now calculate the labour cost estimate. For this, we will make another table. Six columns will make up this process.

  • Make two columns at first, titled Labours and Enter the labourers' names and numbers in these columns.
  • The number of labourers who contributed to the building must be listed in a column after that.
  • Next, make a column called Hours and another called Per Hour Cost.
    House Construction Cost Calculator in Excel
  • Now, use the following formula to get the total Cost of construction workers for the building.
= D5 * E5 * F5
  • Labour, hours, and per-hour costs are denoted by the letters D5, E5, and F5, respectively.
    House Construction Cost Calculator in Excel
  • Next, AutoFill the remaining cells inside column G using the formula.
    House Construction Cost Calculator in Excel
  • We will also use the following calculation to get the total labour cost.
  • Therefore, hit Enter to obtain the required result.
    House Construction Cost Calculator in Excel

Step 3: Create an All-Costs Summary

It's now time to create a list of all the expenses/costs.

  • Enter the total Cost of materials first, taken through the Material Cost Estimation table.
  • Similarly, include labour costs from the table of labour cost estimation.
    House Construction Cost Calculator in Excel
  • Next, insert all other construction-related charges using the SUM function to get the overall construction cost. This is the SUM function:

House Construction Cost Calculator in Excel

Construction Technique for Houses

First, you might supply the building supplies, and the contractor will just offer a workforce (carpenters, masons, etc.) to construct the house. In the latter case, you request that the contractor supply the Labour and the materials (cement, bricks, sand, etc).

Each method has benefits and drawbacks when it comes to building a home. Which is the greatest option for your benefit to build a house? Let's examine each one individually.

1. Contract of Labour

A labour contract limits the contractor's access to supplies exclusively. All supplies needed to build a house must be provided by you, and the contractor will provide or handle the labour job.

Depending on the location and level of construction work you require from the contractor, labour contracts typically cost between 250 and 500 rupees per square foot.

Benefits of Labour Contract:

  • Top-notch building projects
  • The contractor employs the necessary quality of materials for building, without attempting to save any of the material because it is your property.
  • Owners and contractors have less disagreements.
  • For building a house, you can select the material quality you need.
  • Reduction in the Cost of materials.
  • It is possible to compare the Cost and performance of various building materials.

Drawbacks of Labour Contract:

  • Owner contractors use more material than is necessary for their material supply.
  • Wherever possible, contractors don't give a damn about saving material.
  • Continuous material delivery on-site is a concern for the Owner.
  • The Owner must buy materials and conduct a market analysis.
  • Due to house construction, the Owner's work schedule may be disrupted.

2. Materials + Contact of Labour

The contractor is given the entire task in this contract. It implies that the Owner will cover the Cost of the contractor's purchases and supplies of materials for the construction site.

With less work for the Owner, this is a preferred way of contacting contractors for house construction.

Generally speaking, the material plus labour contract pricing, also known as the contraction rate, ranges from 1000 to 2000 rupees per square foot, depending on the area, reputation of the contractor, and level of work quality.

Benefits of a Material + Labour Contract:

  • The Contactor handles the procurement of materials, freeing the Owner to work on other projects.
  • An owner can effectively oversee work.
  • Because the contractor has purchased goods before, he will choose high-quality supplies for the project.

The Material + Labour Contract has certain drawbacks:

  • The contractor will try to cut costs when purchasing materials for construction.
  • The construction quality is subpar.
  • Poor construction is the outcome of the contractor telling the labour force to use less material.

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