There are two parts of the general contractor estimate: One is the summary which shows the cost of every trade by CSI division and then adds general conditions, overhead, profit, and contingency; and the other is the detail sheets which show each line item with quantity, unit and unit cost. Both a full summary for a new 2,400 sq ft house ($543,594, $226 per sq ft) and a commercial tenant build-out with line item detail are shown below.
A real estimate will give you the quickest insight into the way one is made. The following are general contractor estimates – these are simplified estimates (much like the sample provided) in the form that our general contractor estimation team uses when we estimate for our GC clients, and have sample prices included so that you understand the structure and the math. They are a guide, not a quote for your project – the price depends on the location and specification. See our full guide to construction cost estimation for a full detail of how estimates are constructed.
What a General Contractor Estimate Includes
| Section | What it shows |
|---|---|
| Project information | Project name, address, drawing set and date, estimate date, estimator |
| Basis of estimate | Drawings and specs used, addenda, assumptions, and the design stage |
| Summary by division | Total cost for each CSI division or trade |
| General conditions | Supervision, temporary facilities, cleanup, permits and insurance, priced from the schedule |
| Markups | Overhead, profit, bonds, insurance and contingency, shown as separate lines |
| Detail sheets | Line items with quantities, units, unit costs, labor and material |
| Inclusions and exclusions | What the price covers and what it does not |
| Allowances and alternates | Placeholder amounts for undecided items, and priced options |
General Contractor Estimate Example 1: New 2,400 sq ft House
A new 2400 sq ft house on a slab foundation, wood frame, asphalt shingle roof, vinyl siding at front with brick veneer, mid-level finishes. Lot is level and clear, utilities are “at the street.
| Division | Description | Cost |
|---|---|---|
| 01 | General requirements (supervision, temp facilities, dumpsters, cleanup) | $30,000 |
| 03 | Concrete (footings, foundation walls, slab, flatwork) | $36,000 |
| 04 | Masonry (brick veneer at front elevation) | $9,000 |
| 05 | Metals (steel beam, posts, lintels) | $4,000 |
| 06 | Wood and plastics (framing, sheathing, trim, cabinets) | $96,000 |
| 07 | Thermal and moisture (roofing, insulation, siding, sealants) | $44,000 |
| 08 | Openings (windows, exterior and interior doors, hardware) | $28,000 |
| 09 | Finishes (drywall, paint, flooring, tile) | $56,000 |
| 10 | Specialties (bath accessories, mirrors, shelving) | $3,500 |
| 11 | Equipment (appliance package) | $9,000 |
| 12 | Furnishings (countertops, blinds) | $12,000 |
| 22 | Plumbing | $27,000 |
| 23 | HVAC | $22,000 |
| 26 | Electrical and low voltage | $25,000 |
| 31 | Earthwork (clearing, excavation, backfill, grading) | $15,000 |
| 32 | Exterior improvements (driveway, walks, landscaping) | $14,000 |
| 33 | Utilities (water, sewer, power service connections) | $11,000 |
| Subtotal, direct cost | $441,500 | |
| Permits and fees | $6,500 | |
| Overhead (8%) | $35,840 | |
| Profit (7%) | $33,869 | |
| Contingency (5%) | $25,885 | |
| Total estimate | $543,594 | |
| Cost per sq ft | about $226 |
Illustrative prices for a mid-range build. Land, design fees and financing are not included.
The key to notice is that wood framing and finishes make up the most significant costs, and that the MEP (plumbing, HVAC and electrical) cost is approximately 17%. These totals are one of the reasons for the huge range of numbers we have for our cost per square foot to build a house guide—just one example, change the finishes or the region, and the per-square-foot figure changes quickly.
General Contractor Estimate Example 2: 5,000 sq ft Office Build-Out
Interior tenant improvement to existing building – new partitions, two restrooms, new break room, new ceilings, new light fixtures, HVAC distribution and finishes. The base building shell, roof and main HVAC units are existing.
Detail Sheet: Framing, Drywall and Ceilings
| Line item | Quantity | Unit | Unit cost | Total |
|---|---|---|---|---|
| Metal stud partition, 3-5/8″ 25 ga at 16″ o.c. | 4,200 | sf wall | $4.10 | $17,220 |
| 5/8″ Type X gypsum board, both sides, hung | 8,400 | sf | $1.45 | $12,180 |
| Tape and finish, Level 4 | 8,400 | sf | $1.10 | $9,240 |
| Sound attenuation batts in demising walls | 1,600 | sf | $1.25 | $2,000 |
| Acoustical ceiling tile 2×2 on suspended grid | 4,300 | sf | $4.75 | $20,425 |
| Gypsum board soffits and bulkheads | 260 | lf | $38.00 | $9,880 |
| Total | $70,945 |
Unit costs include material and labor. Illustrative only.
Estimate Summary
| Division | Description | Cost |
|---|---|---|
| 01 | General conditions (10 weeks: superintendent, temp protection, cleanup, dumpsters) | $58,000 |
| 02 | Selective demolition | $14,000 |
| 06 | Millwork (reception desk, break room casework) | $26,000 |
| 08 | Doors, frames, hardware and storefront glass | $41,000 |
| 09 | Finishes: framing, drywall and ceilings (detail above) | $70,945 |
| 09 | Finishes: flooring, base, paint, wall tile | $57,000 |
| 10 | Specialties (signage, toilet accessories, fire extinguishers) | $6,500 |
| 21 | Fire sprinkler modifications | $16,000 |
| 22 | Plumbing (break room, two restrooms) | $29,000 |
| 23 | HVAC (VAV boxes, ductwork, diffusers, controls) | $62,000 |
| 26 | Electrical, lighting and data | $68,000 |
| Subtotal, direct cost | $448,445 | |
| Builder’s risk and liability insurance (1.2%) | $5,381 | |
| Overhead (6%) | $27,230 | |
| Profit (5%) | $24,053 | |
| Contingency (4%) | $20,204 | |
| Total estimate | $525,313 | |
| Cost per sq ft | about $105 |
Two things stand out on commercial estimates. First, general conditions are a real line priced from the schedule, not a rounded percentage: ten weeks of a superintendent is a known cost. Second, most of the dollars are subcontracted (HVAC, electrical, fire sprinkler, plumbing), so the quality of the GC estimate depends on how well those quotes are leveled against the scope.
Construction Estimate Template (Copy This Layout)
Whether you use a spreadsheet or estimating software, this structure works for almost any general contracting estimate:
| Column | What to enter |
|---|---|
| Division / cost code | CSI MasterFormat division and your internal cost code, such as 03 30 00 Cast-in-place concrete |
| Description | The item of work, specific enough that someone else can price it |
| Quantity | Measured from the drawings, with waste noted separately |
| Unit | cy, sf, lf, ea, ls, hr |
| Material unit cost | From a dated supplier quote |
| Labor hours | Quantity divided by production rate |
| Labor rate | Burdened hourly rate |
| Equipment | Rental or owned equipment cost for the item |
| Subcontract | Leveled subcontractor price, if the item is subbed |
| Total | Material + labor + equipment + subcontract |
| Notes / source | Drawing sheet, spec section, quote reference and assumptions |
Below the line items, add rows for general conditions, overhead, profit, bonds, insurance and contingency, each shown separately so you can adjust them without touching the direct costs.
What a Construction Estimate Report Should Contain
When an estimate goes to an owner, lender or design team, it is usually sent as a report rather than a spreadsheet. A good construction estimate report includes:
- A cover page with project, date, estimate type and design stage.
- A one-page summary with totals by division and cost per square foot.
- The basis of estimate: documents used, assumptions and pricing date.
- Clear inclusions, exclusions, allowances and alternates.
- Contingency and escalation, explained rather than buried.
- Detail backup, if the recipient needs to review quantities.
Rough Estimate vs. Detailed Construction Estimate
A ballpark figure for the construction of a building is typically a square foot figure, such as 2,400 sq ft at a typical local cost per square foot, and with a wide range. It can be helpful in determining the action to take if you decide to move forward or not. A detailed estimate such as those listed above is created from a complete takeoff, and is the estimate you sign a contract on. We provide detailed information about the different types of construction cost estimates, including what they are and how accurate they are.
How to Tell if a Contractor Estimate Is Fair
- It is itemized by division or trade, not a single lump sum.
- Quantities and allowances are stated, so you can compare bids on the same basis.
- Exclusions are clear. A low bid that excludes site work or permits is not really low.
- Markups are reasonable for the project size and risk.
- It is close to other bids for the same scope. A price far below the others usually means missed scope.
- It matches a square foot sanity check for similar projects in your area.
Our article on what a construction estimate is lists the terms and conditions a contractor estimate should spell out.
From Estimate to Bid
Construction bid estimate occurs once the final numbers for subcontractors are included and once the contractor has applied markup to the bid based on market and client requirements and will submit a price on the bid form. Most changes will occur on bid day in the last few hours, as sub quotes are received. For bid-day strategy check our construction bid estimating guide.
Get a Complete Estimate for Your Project
Design Estimation creates complete general contractor estimates and trade takeoffs, broken down by CSI division and quantities, unit costs and a bottom line. Check out real full building estimate samples of GC work or submit estimates for 24-48 hours’ turnaround.
To get the bigger picture of the different types of estimates, the various ways to estimate costs, the expense of the estimate, and the typical pitfalls to avoid, check out our construction cost estimation guide.
Part of Our Complete Guide
This article is part of our complete guide to construction cost estimation, which covers the full process step by step.
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Frequently Asked Questions
Quick answers to the questions contractors ask us most.
Why are there such differences in contractor bids?
Differences in scope coverage, subcontractor pricing, markup and how busy each contractor is. When comparing bids, be sure to match each line to ensure bids are for the same work.
Let's take a look at the general contractors estimates.
It provides a summary of costs per CSI division, general conditions, overhead, profit and contingency, with detailed line items. Line item quantity, unit, unit value and total value.
What is included in a contractor cost estimate?
The material, labor, equipment, subcontractors, general conditions, overhead and profit & contingency. A good estimate also lists inclusions, exclusions, and allowances, and indicates the length of time the price will be available for.
What is the price of a new constructed house?
Size, finishes, and location are the critical factors. The above sample 2,400 sq ft home before land, design and financing is approximately $543,594.
Do you have a free construction estimate template?
Yes, the above column layout is a free template to be used in any spreadsheet. Each line item should be in a separate row, group rows by CSI division, and include markups as separate lines below direct costs.
What is the difference between a construction estimate and a construction bid?
An estimate is the price that the work will cost the contractor and a bid is the price that will be put forward to the owner. The bid includes the numbers of the final subcontractors and the decisions on the contractor’s mark-up.
Contractor estimates – how accurate are they?
The accuracy of the detailed estimate is around 5%-10% using complete drawings. The estimates of rough square feet may be in error by 20-30% or more.
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