Calculate the Cost of a New Home

Hi, I'm Tim Carter Ask the Builder. How would you like to know how to calculate the cost of a new home or a large project like this? Not too hard. Four steps. Number one, you need to create a list of all of the tasks that have to happen. Look down in the video description for a link to that. Number two, put an accurate number behind each of those tasks. It's not as hard as you might think. It takes a little work. Number three, add up all of those numbers. Okay

Then multiply by 7%. That's your contingency because there's going to be problems on the job

And then finally, take 25% of the number. That's the profit and overhead for the builder

You want the builder to make a profit, and he has all types of overhead costs

You want him to be around to solve problems. If you're a builder, share all those numbers with your homeowner

You'll get the job. If you're a homeowner, get the numbers. Okay, you know what to do

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