How to Calculate Residential Construction Cost Estimator in Excel: 3 Methods

Method 1 – Calculate Material Cost for Residential Construction

  • Create columns named No. and Materials to add numbers and names of materials.
  • We need the quantity and price per quantity to calculate the total cost of materials. Add Quantity, Unit, and Unit Cost columns.

Estimate Material Cost to Calculate Residential Construction Cost Estimate in Excel

  • After creating all the columns, calculate the total cost of materials using the following formula.
=D5*F5
  • D5 refers to the Quantity, and F5 refers to the Unit Cost of Steel.

Estimate Material Cost to Calculate Residential Construction Cost Estimate in Excel

  • Autofill the formula to estimate the price of all materials.

=SUM(G5:G16)
  • Hit Enter. You will be able to calculate the total material cost, which is $161,335.00.

Estimate Material Cost to Calculate Residential Construction Cost Estimate in Excel

 


Method 2 – Estimate Labour Cost for Residential Construction

  • Create two columns and name them No. and Labours. Put the numbers and names of labourers in these columns.
  • We need a column with the number of labours who worked in the construction.
  • Create a column named Hours along with another named Per Hour Cost.

Estimate Labour Cost to Calculate Residential Construction Cost Estimate in Excel

  • To calculate the total cost of construction labor, use the following formula.
=D5*E5*F5
  • D5, E5 and F5 refer to Labours, Hours and Per Hour Costs.

Estimate Labour Cost to Calculate Residential Construction Cost Estimate in Excel

  • AutoFill the formula to the rest of the cells in column G.

  • Calculate the total labor cost using the following formula.
=SUM(G5:G10)
  • Press Enter to get your desired output.

Estimate Labour Cost to Calculate Residential Construction Cost Estimate in Excel

 


Method 3 – Prepare a Summary of All Costs

  • Input the total Material Cost from the Material Cost Estimation table.
  • Add the Labour Cost from the Labour Cost Estimation table.

  • Insert all the other costs of the construction and find out the total construction cost using the SUM function. The SUM function is,
=SUM(C4:C8)

How to Calculate Residential Construction Cost Estimate in Excel

Notes:
  • Create additional rows and columns to add more items to the table.
  • Be careful when giving cell references or you will get the wrong results.

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Alif Bin Hussain
Alif Bin Hussain

Alif Bin Hussain earned a BSc in Civil Engineering from Bangladesh University of Engineering and Technology. As an engineering graduate, he has a deep passion for research and innovation. He loves to play with Excel. In his role as an Excel & VBA Content Developer at ExcelDemy, he not only solves tricky problems but also shows enthusiasm and expertise in handling tough situations with finesse, emphasizing his dedication to delivering top-notch content. He is interested in C, C++,... Read Full Bio

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