Free construction estimate templates

Creating accurate construction cost estimates is crucial for small businesses in the construction industry. Providing clear construction estimates helps builds trust with clients and can help protect your construction business from cost overruns. Below is our step-by-step guide to help you estimate construction costs effectively:

1. Understand the scope of the construction project – Meet the client to understand their requirements, obtain blueprints and drawings and undertake a site visit to assess conditions like terrain and accessibility.
2. List all construction tasks – Make a breakdown of phases from foundation work to finishing touches.
3. Estimate required time for construction tasks including some buffer to assist with scheduling and labor cost calculations.
4. Outline materials and skilled labor that is needed – List quantities like number of bricks and cubic yards of concrete. Estimate number of hours or days required.
5. To maintain profit margins, add a percentage of total cost to cover unexpected expenses (e.g. 5-10%).
6. Download our free and customizable construction estimate template to generate professional construction and building estimates when scoping new jobs. To save even more time, try Bookipi‘s estimation software for free. Get pre-formatted estimate examples for construction and building jobs. Tailor estimates to your specific building project. Streamline the sales process by using online esignatures for client acknowledgement of your estimates. Easily generate new invoices based on estimates, get paid via our secure card payments and track all your sales documents in one simple software solution.

A business estimate for a construction project should include several sections to ensure that costs and expectations are transparently communicated to clients. Key elements on a construction estimate include the following:

1. Your construction business’ information
2. Customer’s information
3. Construction estimate number and date – An unique estimate number helps with tracking and provides a reference point when communicating to clients.
4. Detailed description of the construction job – Provide a thorough description of all building work and outline the scope of the project. It may be helpful to provide a construction project timeline including dates, building phases and any dependencies.
5. List all raw material costs and scaffolding and machinery equipment rental charges
6. Labor costs for construction contractors and sub-contractors –  Construction projects involve varied skilled workers with different wages. It’s best to provide detailed information on the number of workers, hours or days required and labor price lists of hourly rates or fixed costs.
7. Additional services and costs such as  machine transportation and permits.
8. Subtotal amounts – Provide subtotal amounts of construction materials, labor, and other costs before adding any taxes or discounts.
9. Total construction cost estimate cost – List the final amount that a client would be expected to pay. Estimates are approximations so your construction business should formalize the actual price for a construction job in an invoice.
10. Terms and conditions – Include payment terms for your construction job including any payment schedules that have upfront payment amounts or progress payments.
11. Other notes – As estimates are not generally legally binding, it’s useful to specify how long your construction estimate is valid for and any additional information like the expected start date and any contingencies.
12. Construction timeline – It could be helpful to add a construction project timeline depending on the complexity of the construction job.
13. Signature and approval section – You can add space for your construction business and the prospective client to sign and and date the estimate to indicate agreement or consideration for the construction work.

Generate professional construction estimates when scoping new jobs using Bookipi software. Forget manual paperwork like using construction invoice templates. Speed up invoicing, enable online client eSignatures and get paid using the same solution.