Home Renovation Cost Management

$/square foot Estimation:

This method relies on historical cost data. It is reasonably reliable in general, however should be considered the least reliable method of the three discussed.

Bottom-up Estimation:

This method is based on historical cost data, current cost data, or a combination. It is reasonably reliable overall but requires accurate quantity takeoffs.

Trade Quotes:

This method is the most reliable as the the cost data will be provided by the trade that will be performing the work.

The series of images below are provided to show an example of each method of cost estimation using the scope documented for a simple 3-piece bathroom renovation project.