Modern Homebuilding Costs in 2021

Ravindra Ambegaonkar
Author : Ravindra Ambegaonkar
May 27, 2021
3 Minutes Read
  
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    One of the most unexpected outcomes of the COVID-19 pandemic was the disruptions to supply chains. Everything from cars to groceries was suddenly in very short supply thanks to plant shutdowns, transport problems, and panic buying. Many of these issues have eased in recent months, but one area with considerable volatility still in place is construction materials. The sudden price changes and scarcity seen in the sector are like nothing we've ever seen in peacetime, and the construction market has become very unpredictable and fluid.

    In changing circumstances like these, it's critical to have good tools to compensate. That's why CostCertified is such a powerful partner to anyone involved in a construction project.

    CostCertified is a real-time construction estimating software system that allows for instant updates to project costs with a few easy clicks. Here's how you can put it to work for you.

    Instant Updates to Project Costs

    Most of your clients understand that there will be some minor adjustments in the price of materials. It's never been easy to estimate the cost of materials six or seven months before you'll actually need them, but we have always been able to get into the ballpark...until 2020.

    With the sudden and unexpected changes in the prices of common materials, many project costs are seeing increases far beyond the normal variations. This puts pressure on you to keep your clients as current as possible with what is going on with material costs, and the only way to do that is with a calculator tool like CostCertified.

    When you see changes in prices (or when the client just gets concerned), you can quickly update everything and provide a bottom-line figure for the total cost of the project. If the client is comfortable with that, everything proceeds as planned. If changes are needed, it's easy to make adjustments and get back on track.

    Simple Evaluation of Options

    Along that same line, CostCertified makes it easier to walk through the "what-ifs" that your client may provide. Very few clients have their hearts set on an exact plan. There is always room for adjustments. What if we went with masonry siding instead of vinyl? What if we chose a better grade of windows? What if lumber goes up another five percent?

    Those questions used to be difficult and time-consuming to answer, but CostCertified takes all the pencil work out of reviewing choices with your client. You can plug in different costs on any part of the project and get an instant update on the total cost.

    Consumers are accustomed to easy speculation about choices. The car dealership can tell them what it would cost to upgrade the stereo. Online stores show all the choices with dollar figures. It just makes sense for a major transaction like home construction to be done the same way, and your clients will expect it.

    More Efficient Operations for You

    Everything CostCertified can do could be done before it came along, but it was much more difficult. You would have either had to spread out papers and make adjustments for hours at a time or have a cost estimator on staff with you. The first option was a big waste of your time, and the second one was a big waste of your money.

    With CostCertified, you can slash the time it takes to make those changes without sacrificing accuracy. Instead of spending most of a client meeting doing math, you can talk through the available options, review the price situation, and really give your clients the opportunity to understand exactly what they are doing and what it will cost.

    With historically low interest rates, would-be homeowners are unwilling to wait out the surge in the cost of materials. Instead, they're getting their new homes under budget by carefully managing every last detail of the inputs.

    When you can present your cost estimate with the capacity to update easily as needed, your firm will stand apart from other bidders. The client will love having the ability to make changes along the way and get instant feedback on what it will cost. That's how CostCertified will help you build your business out of materials that will not break the bank!

    Tags construction contract | home construction

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