Repair Cost Estimator - The Basics
Learn the basics of the Repair Cost Estimator and how it can be used to estimate repair costs for your rehab projects.
- 00:35 - Description of Work Column
- 00:40 - Quantity Column
- 00:50 - Unit of Measure
- 01:00 - Unit Prices
- 01:15 - Calculations and Formulas Used (Quantity * Unit Costs = Total Costs)
- 01:30 - Total Repair Cost Summaries
- 01:40 - Sort/Filter Navigation Buttons by Scope of Work or Labor, Material or Subcontracted Work
- 01:55 - Estimating DIY Savings
The repair cost estimator is pre-built with 24 scopes of work and roughly 300+ common work items and costs that you will find on a typical rehab project.
These scopes of work, work item descriptions, and unit costs are completely customizable to meet your specific project and business needs.
Features & Layout
The Description of Work column is used to describe the work that is being performed.
The Quantity column is where you will input the quantity of work required based upon your field measurements of project quantities.
Unit column describes the unit of measure for the work. , For example, tile flooring is typically measured in SF.
The Unit prices section is where you can input unit prices for labor, material & subcontracted work.
Spreadsheet Calculations & Formulas
The calculations in the spreadsheet are quite simple, the Repair Cost Estimator uses your quantities of work that you provide and multiplies it by the unit costs to calculate the total Labor, Material & Subcontracted costs for that item and scope of work.
The estimate totals for each scope of work, labor material, subcontracted work & the entire project are then summarized at the top of the spreadsheet.
DIY Savings and Analysis
If you are a contractor or do-it-yourselfer, the DIY column will be a great tool for calculating DIY Savings and allow you to create more competitive offers, minimize construction costs & maximize your profits.
As you can see the repair cost estimator is an invaluable tool that will help you quickly and systematically estimate repair costs for your rehab projects. The hardest part is establishing the right unit costs to include, based upon your knowledge of the project, your market conditions & contractors.