Imagining a dream home is an easy task. Children do it all the time as part of their fantasy play and sometimes, adults do it too. Actually building a dream home is an entirely different thing and requires so much more than the ability to let your mind wonder through the possibilities. Rigorous planning and the employment of accurate cost estimating services are the elements that decide whether your house will stand in reality or shelter you solely in your mind’s figments.

Generally, a building cost estimator provides two major types of cost estimating services. The conceptual cost estimating, also known as parametric estimating, establishes your house’s cost before any graphical representation is developed. This is usually conducted through the means of a cost model that has the role of identifying the scope and the type of work necessary throughout the project’s lay-out. And a detailed cost estimate, resulting from the logical analysis of all the project’s elements to accurately predict the cost of a building.

All cost estimating services are based on quantity measurements and pricing, reflecting the possible construction costs practiced in your locality and assuming a competitive bidding for each part of the construction work. A building cost estimator bases his judgment on industry practices with regard to the cost of labour, equipment and materials as well as previous experience, without exercising any control on their fluctuations. The accuracy with which these estimations are conducted depends of course on a series of exterior factors but typically represents approximately 5% of the average bid.

There are three major sections of cost estimates currently operated with: components, elements and divisions. The components refer to essential parts of construction that perform a well-established function. For example, the foundations, the floor and roof structures, the exterior cladding, roofing and waterproofing, interior partitions, doors and glazing, staircases, plumbing and fire protection systems, electrical work, and all site developments necessary for the construction of the house and the assurance of thermal comfort. However, a building cost estimator cannot attribute all the costs encountered in the construction process to the components, other elements such as site establishment, storage facilities, security and general equipment are necessary.

You may wonder how things proceed if a building cost estimator reaches the conclusion that the cost estimate is too high for the affordable project budget. Do you have to postpone or give up a part of your desired home? Many construction processes have come to a standstill exactly because of poor initial cost estimating and budget overrunning. If the project budget overrun doesn’t exceed 5%, the construction can continue and solutions are usually found to modify certain components as to adhere to the general budget. If there’s an escalated difference, then construction work should stop and an engineering workshop maybe needed to address the issues or problems.
It’s recommendable that you do not underestimate the importance that a building cost estimator http://www.bies.com.au and the estimating services http://www.bies.com.au it provides have on the success of your house project, both in completion and financial terms.