Do you run out of building supplies mid-project? If so, the chances are pretty good that you are not a good estimator. You are probably guessing when you should be estimating and all of your projects and finances are suffering as a result. To make a construction project a success you really need to know how to make correct estimates. For proper financial planning and, ultimately, the success of your project, you need to make proper estimations of the costs. Do you need to put a new roof on a house? Estimate your expenses. Dont just look up and guess as to what the costs will be. If you guess wrong, youre going to lose money for sure. Guesstimating will not only lead to the loss of money. It will cause you to lose out on contracts that could have been yours. It will be your lack of time and effort that will lose those jobs for you. Suppose you overestimate and quote a high price. Youll probably lose that job to the guy who did good estimates and came up with a lower price. Any good competition that you have in the construction market will be making careful and correct estimates. Dont foolishly lose money through laziness. Yes, you can look at a job and guess what the labor, building supplies, time, etc., will cost. But every job is different and there are different needs for every job. Even if a job is similar to one youve done before, chances are pretty good that there will be differences. No two jobs are exactly alike. And even if the new job is extremely similar to a previous job, its just too dangerous to make an assumption that the needs will be the same as the previous job. Dont disregard all of your past experiences but dont make decisions solely on your past experiences. You need to focus on the job before you. So, don’t try to avoid sitting down and working it all out. It’s absolutely not a waste of your time. Methodically work out what labor, building supplies and equipment you need to finish the job. Consider your past experience, ask a knowledgeable friend for advice if needs be, and then weigh that up against that practical data that you can get yourself. In the long run youll save yourself a lot of grief and a lot of money.

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