Perhaps, it’s not easy to estimate the painting cost of a house. Those who are new to this field can find this job tough and there are chances of error too. On the other hand, hiring a professional construction estimating company can save you from various problems. But estimating the right prices is crucial. It can help you have more clients as well as make you more competitive in the market too.
Given below are the seven most important steps that can help you in the right estimation so let’s begin.
1. Visit the site with construction estimating companies
While you begin your estimate, do yourself a favour and go to the site. There may be elements that drive inflation, such as the quality of the walls. If you’re painting dark walls, you’ll need more paint. It will take longer to decorate with additional theme walls and varied colours.
Inquire if the buyer only wants the walls painted, or if they want the roof, trim, and doorways painted as well. Jobber advises asking if they’ll provide the paint and, if not, whether they require a particular brand and whether the colours would need to be specially blended.
Addressing all of these queries ahead of time will improve the quality of your estimate and also save you time in the long run. If you don’t have any painting or estimating experience, attempt to bring somebody with you to your job site who is running professional construction estimating companies.
2. Estimate the Cost of Paint
Remember, paint cost varies in different regions. Well, usually the paint prices start from $15 to $80 or more. Paint prices mainly depend on the chosen brand and quality. However, contractors usually pay approximately $45 for a painted gallon.
To maintain a good cost you can negotiate with the suppliers. It’s quite possible that they can give a discount to the contractors. But in most cases, it mainly depends on the quantity you are buying frequently or your relationship with the supplier. For painting a house interior never compromise on the quality. No doubt there are too many reliable brands you can choose from.
3. Don’t Forget to Estimate the Cost of Materials
Undoubtedly, whether you are painting the interior of the house or the exterior there are certain elements that you always need. Perhaps, the cost of materials is calculated based on 2500 square feet of space. Moreover, most of the material cost depends on the preparation materials such as primer or caulking.
4. Consider Estimating the Cost of Labor
No question at all, calculating labour cost is also tricky. along with labour, there are so many elements too. However, keep in mind the labour cost is usually $20 per hour. Well, it can vary based on the project. Also, it varies on the type of project such as large or small.
5. Estimate the Cost of Marketing
For any project, there is always a hidden cost too. The construction estimating companies also tell you about the hidden cost. To identify hidden costs marketing pay for leads, printing, and distributing flyers are usually considered. Always find out your hidden marketing cost. However, make sure you are not spending more than 10% of the total budget. Else, you will suffer a lot.
6. Apply Your Markup
While having the construction takeoff services make sure you are going to do it right. However, what percentage markup you apply entirely depends on you. Again it depends on the knowledge of painting. If you are new to the business, you can cross-check the values. Keep in mind if you are new to this job a 30% markup is a good idea. On the other hand, if you are a pro you can also take up to 50%.
7. Do the Final Calculated estimation
There are certain formulas with the help of which you can calculate the final estimation of the painting project. Moreover, you can also take assistance from the construction estimating company in this regard. However, calculate the final estimate by using the below-mentioned formula
Material cost +paint cost +labor cost +marketing cost markup cost = total project cost.
Remember some of the estimating companies include the marketing cost along with markup cost so it’s up to you.