07/07/2025
Ah, the argument of the ages. Not really. It’s pretty well accepted as a projection tool. However, the real question is how accurate is this method? Truthfully, there is a science to it. At the same time, there is a pretty broad range of variables, inherent latitude and more than a pinch of SWAGing. There have been several estimates of how many components are in the “average” house. The number floats somewhere around 3 to 5 thousand. That’s a pretty big number and doesn’t represent necessarily how many “pieces” there are. It’s complicated. So, how can we track average costs per square foot? Very carefully. It’s tedious on a good day. As a designer, we have a unique advantage of working with multiple builders on projects we have originated. We have the ability to see how different builders price the same project in a competitive environment. Everyone receives the same plans so their pricing is based on the exact same criteria. We’ll talk about actual construction costs at another time. For now, we’re looking for a platform that can help you assess if your budget is realistic or not. Reade more...