If you’re in the construction business, you know that having a quality construction estimate is essential for landing new jobs. But writing a construction estimate can be tricky—especially if you’ve never done it before.
In this guide, we’re going to walk you through how to write a construction estimate template in eight easy steps. By following these steps, you’ll be able to create a professional-looking document that will help you win more business!
What is a Construction Estimate?
A construction estimate provides potential clients with an estimated cost for a proposed project. This document is typically used in bidding, where contractors submit their estimates to the client to win the job.
To create a successful construction estimate, you’ll need to include several key pieces of information. We’ll go over what you need to include in more detail below.
Why is a Construction Estimate Important?
A construction estimate is important because it allows potential clients to see an estimated cost for the proposed project. In addition, this document is typically used in the bidding process, where contractors submit their estimates to the client to close a deal and be given the job.
What to Include in a Construction Estimate
To create the most detailed and accurate construction estimate template, you must include all the right elements. Provide as much relevant information as possible to help them make an informed decision.
Make sure your construction estimate templates include the following:
- Description: a comprehensive description of the work that will be performed.
- Scope of work: a detailed outline of the proposed project, including any special instructions or requirements.
- Budget: an itemized list of the estimated costs for labor, materials, and other expenses.
- Timeline: a proposed timeline for the completion of the project.
- Payment terms: your terms and conditions for payment, including any deposits or down payments.
- Your company’s contact information: include your company name, address, phone number, and website.
These are a few examples of the elements you want to include in your construction estimate template. Remember, be thorough and provide as much information as you can.
How to Write a Construction Estimate
Now that you better understand what you should include in your construction estimate template, it’s time to put it together and create your estimate! To help you get started, here’s a quick step-by-step guide on how to write a construction estimate:
Step 1: Review the Project’s Scope
The first thing you’ll need to do is review the project’s scope. You can’t start writing your construction estimate without knowing and fully understanding it.
It would help if you also determined the following:
- The type of services you have to offer and if you will need a subcontractor.
- The cost of the project.
- Whether the client wants a complete breakdown of the costs or just the total.
- The projected completion date.
- Expectations you have for the project.
- Clients’ expectations for what the outcome of the project is going to be.
To determine some of these points, you might need a site visit and see what will be involved in the project. It’s also a great time to start building a good working relationship with the client.
Step 2: Provide a Rough Timeline
Your estimate needs to outline a rough timeline for the project. The timeline will give the potential client an idea of how long it might take and help them plan accordingly.
Including a timeline in your construction estimate also shows that you are organized and have a plan for how you’ll complete the work. This can give clients confidence in choosing you for their project.
Step 3: Determine What Work Needs Subcontracting
You can either take on all the work yourself, or you might need to subcontract some of it out. You’ll need to include which work will be subcontracted and the estimated cost in your construction estimate.
For example, you might need to get a plumber or electrician to do work outside your scope. Therefore, you will need a subcontractor to take on these specific roles.
Step 4: Create an Estimate of the Cost of Materials
Always keep in mind that costs tend to fluctuate, especially with harder-to-get materials or essential tools that are simply expensive. Therefore, it’s important to shop around and put together a good idea of the cost and the quantities of materials you will need to execute the project successfully.
Be flexible about this without resorting to overestimation or underestimation, as this will give the client a false expectation.
Step 5: Check Out the Competition
When creating your construction estimate, it’s good to check out what your competition is offering. This will help you ensure you’re in the ballpark with your pricing and give you a better idea of how to market your services.
Step 6: Outline Your Terms and Conditions
Your construction estimate should also include your terms and conditions. The terms and conditions are important because they set expectations for you and the client.
For example, you might want to include a clause that outlines how any changes to the scope of work will be handled and priced. By doing this, you can avoid any misunderstandings further down the line.
Step 7: Make Your Estimate Details and Professional
Be as detailed and thorough as possible when creating your construction estimate template. Include things like your company name and logo, your contact details, and a list of references.
You might also want to include a brief overview of your company and your experience in the industry.
Step 8: Submit Your Estimate
Once you’ve followed the seven steps and put together a comprehensive and professional construction estimate, it’s time to submit it to the client.
Before you do, ensure you’ve double-checked all the details and that you’re happy with everything. Then, once you’ve submitted it, all that’s left to do is sit back and wait to see if you’ve landed the job.
Why You Should Avoid Free Estimate Templates
Many of the top free construction estimate templates are available on platforms such as Microsoft Excel, Google Sheets, or any other number of websites.
While they’re not completely bad, some are inaccurate and might not include all the necessary information. Additionally, using a free template can make your business look unprofessional.
If you want to show your clients that you mean business, creating a custom construction estimate template specific to your company is important.
By taking the time to do this, you’ll be able to land more clients and keep the work coming in. So, what are you waiting for? Get started today!
Use Our Digital Clipboard to Create Your Custom Construction Estimate Template
If you’re looking to create a construction estimate template from scratch, DATAMYTE’s Digital Clipboard is the software solution that will make it happen for you. Our workflow automation software is capable of creating different forms and templates that you can use for your business.
With the DataMyte Digital Clipboard, creating an estimate is as easy as filling out a form. Take advantage of our drag-and-drop interface, add all the relevant elements to your form, customize it with your company’s theme, save your work, and you’re all set!
DATAMYTE wants to make it as straightforward as possible to help ease any complex work you’re doing—including creating estimates! With our Digital Clipboard, all you need to worry about is the information you will enter on your template. Once you have that information, creating the entire document will be a breeze.
To learn more about the DataMyte Digital Clipboard and what it can offer, visit our website now! You can also book a demo to see the software in action.
Creating a construction estimate doesn’t have to be difficult. Following these eight steps, you can create a professional and accurate construction estimate template to help you land new projects. So, what are you waiting for? Get started today!