How can I estimate costs for a renovation project?
Estimating isn't an exact science and it is only accurate when you know exactly what materials are needed and the number of man hours needed to complete the job. The most accurate estimates are determined by itemizing all the material cost and amounts, man-hours and labor rates, costs for subcontractors and finally overhead and profit. The material costs can be figured by seeing a blue print or knowing what is to be done. You may have a more difficult time knowing what to calculate for overhead and profit. So depending on were you reside and the contractor it would be safe to assume a mark-up of 20-40% of the total costs for material and labor.