Using the Square Foot Rate To price....

Gumbo

Found this quote from a QS Group. Thought it might be useful for people lurking on here.


What is Square Foot rate and is it accurate? 🤔

The square foot (Sq Ft) rate calculation has been around for a long time, using this formula the total floor area of the build is multiplied by a Sq Ft rate to calculate the construction cost. For example a 2 story house with a 1,000 Sq Ft ground floor and 1,000 Sq Ft first floor, has a total of 2,000 Sq Ft floor area, this floor area would be multiplied by a Sq Ft rate to calculate the construction cost (2,000 Sq Ft x €100.00 = € 200,000.00)

For this calculation, the exact floor area can be calculated very simply. However, there is a fundamental flaw 😬when calculating the Sq Ft rate. The Sq Ft rate is not based on any rules, therefore one persons Sq Ft rate may include all internal finishes another’s may not. Likewise the quality of finishes may differ. Most calculating their self-build budgets using this formula base the Sq Ft rate from advice received from others advising their own Sq Ft constructions costs. However, there are many elements that can alter the Sq Ft cost of two identical structures if they have different specification/circumstances.

Pricing the construction cost by Sq Ft may have worked in the past when the range of construction methods and choice of material was not as extensive as it currently is. However, the variables in the insulation alone could have a significant difference in the Sq Ft cost of a build, not to mention the many other factors to be considered.

A quantity surveying preparing a priced Bill of Quantities (BoQ) will follow the agreed rules of measure (ARM4) thus allowing universal costing for all building works. The Sq Ft is not based on any such rules, meaning some Sq Ft rates being discussed may include only the construction costs to a builder’s finish whilst another may include to turn key finish, the difference between the two will be significant.

Every build is different, as there are many variables to consider in the cost of a build which will affect the Sq Ft cost, some of the variances are summarised below:

• Location – labour costs in the West of Ireland v Dublin vary greatly.
• Site Conditions - a flat level site vs a sloping site.
• Land purchase cost or gifted, stamp duty and legal fees included or excluded
• Professional fees (council, engineer, architect, BER etc)
• Fees to utility providers (Irish Water, ESB and potentially fee for storm water connection)
• Type of house - two Story, Dormer or Bungalow
• Build type – concrete, timber-frame or ICF
• Size of house (Sq Ft Floor area)
• Shape of building
• Complexity of the build
• Direct Labour v Builder
• If using a Builder - Builders finish or turnkey, including or excluding VAT
• If going Direct labour, this will be dependant on the experience of the Self-builder different people have different abilities to do work themselves, construction knowledge and contacts in the business
• Extent of glazing and type (PVC v Aluminium) and supplier
• Roof finish – tiles v fibre cement slates v natural slates
• Quality of internal finishes basic, average or high end
• Heating systems – Heat Pump v Gas Boiler/PV combination or other
• Additional renewable Energy source - PV/Solar or other
• Ventilation – Mechanical v Natural
• Type of kitchen
• Insulation – spray foam in roof with walltight in cavity V earthwool in attic with pumped bead in cavity or other
• Number of Bathrooms and quality of sanitary-ware
• Tiling – extent of area to be tiled and tile type
• Flooring – carpet v solid wood flooring v laminate wood flooring
• Electrical appliances including or excluding
• Fully furnished including or excluding
• Extent of site works to be completed just enough to move in (footpaths/804 levelled roadway) or fully landscaped and tarmacadamed, plus the site area
• Site services – extent of works to bring water, electricity and broadband to site and foul/storm water systems to be installed

There are many variables to each build, that is why using a Sq Ft rate from another build is not the most accurate way of estimating the construction costs of your new build. A good QS is the best person to help prepare an accurate budget estimate for your new build, based on your circumstances and the many variables to your build.

CBear1993

Just type anything into the BCIS website indices

Victor

Gumbo wrote: »

Square Foot

1983 says "Hi".

Gumbo

CBear1993 wrote: »

Just type anything into the BCIS website indices.

Victor wrote: »

1983 says "Hi".

I know, I was going to convert to metric but if you look through the prices forum, the threads around ball park pricing seems to be 50/50 split on posters using foot/meter.

I’m 100% metric myself so don’t worry