7 INTERESTING FACTS

A GOOD CONSTRUCTION ESTIMATE TAKES INTO ACCOUNT

WHAT MAKES CONSTRUCTION ESTIMATIONS SO TRICKY?

What is the first step to make sure your project is delivered on time and in budget?
That’s impossible if the initial estimation was wrong!

You don’t want to consider a quote that is too high, for obvious reasons. But a quote that is too low can be worse.

A quote that is too cheap means your builders might leave your project site as soon as they realise they cannot make profit out of it. In the best case scenario a cheap quote means the builders will cut corners to make ends meet.

Some tiny variables can make a huge difference in the final cost of your project. Find out some facts you have to consider to get your estimation right.

FALSE BENCHMARKS

In Cyprus construction costs may vary between €900 and €1500 per square meter, even higher.

BUILDING MATERIAL COST VARIABILITY

Cost of materials can increase by up to 10% in one year.

KNOWN UNKNOWNS

A good estimate predicts likely surprises like contaminated soil or a deteriorated brick wall.

WEATHER

Rainy weather can double excavation time.

UNCLEAR REQUIREMENTS

Missing or unclear specs impact the cost. For example, the price of bathroom tiles can vary from from €20 to €70 per sqm.

DESIGN OVERSIGHTS

Human errors are inevitable like inaccurate window counting in a big building.

PREPARATION & PLANNING

For example, the schedule and budget need to consider the use of a crane if big windows cannot be moved inside a building.