Combine a basic construction estimate with land, professional fees and contingency.
Project Budget Calculator
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Table of Contents
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What is Project Budget?
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How to Use This Calculator
- Enter or select Construction Type, Covered Area, Cost per sq ft, Number of Floors, Plot Price. Complete any remaining fields required by your chosen method.
- Check the unit beside each measurement. For a percentage or rate, use the scale and time period stated in the form.
- Choose Calculate, then compare the output with the formula and example below. If you change a value or option, calculate again to update the result.
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Formula Used
Base construction estimate = total covered area × cost per unit area; add the separately included project allowances.
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Variables Explained
| Input | What it means |
|---|---|
| Construction Type | Choose the applicable option; it determines which relationship or conversion the page applies. |
| Covered Area | Surface size in square units. Covered area is different from a plot’s total land area. |
| Cost per sq ft | The cost amount included by this calculation; keep it on the same basis as the selling amount. |
| Number of Floors | Number of floor levels included in the total covered-area assumption. |
| Plot Price | The stated purchase or selling amount, in the same currency as the related costs. |
| Architect Fee (%) | The stated rate or percentage, entered using the scale and time period shown in the form. |
| Contractor Fee (%) | The stated rate or percentage, entered using the scale and time period shown in the form. |
| Contingency (%) | The stated rate or percentage, entered using the scale and time period shown in the form. |
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Worked Example
Two floors of 1,000 ft² each at an assumed rate of 150 per ft² give a base estimate of 300,000 before extra allowances.
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Why Use This Calculator?
Treat the result as a planning allowance. A measured bill of quantities and current supplier quotes are needed to price a specific design.
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Common Mistakes
- Avoid counting floor area twice. Unit rates and material quantities vary with drawings, specification, location and date.
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Frequently Asked Questions
Is this a contractor’s quote?
It is an estimate from the inputs and assumptions on this page. It does not establish a scope of work, an agreed price or the actual quantities required by the drawings.
When should I round a measurement?
Carry the measured values and conversion factors through the calculation first. Round the final result to a precision justified by the original measurements.
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Sources & References
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