Square Foot Budget Cost of Mid Rise Condo 2

[cap4000]

Does anyone have any experience in a budget unit square foot cost price. I have a project in NJ which is a 4 story wood frame condo with an open parking level on grade as its first floor. The total residental square footage is 20,000 for the top three floors. A structural steel frame will support the building. Any feedback will be greatly appreciated.

 

[rheim]

cap4000,
my starting point would be 1% of the construction cost, like $100.00 per sqft (this might vary in your area). I am currently working on a 14,000 sqft condominium based on this pricing and so far I feel that the ratio effort/price is ok.
Then, you may look at reasons for a higher or lower bid, such as:
- your experience with this type of construction
- are you working alone or do you have staff, i.e some
overhead to consider?
- are you buried with work or do you desperately need that job?
- does the architect provide CAD files that you can use or do you have to start drafting from scratch?
- quality of these drawings
- are the other parties involved in this project experienced professionals or newbies?

There are more reasons for going with a higher or lower price, but of course that depends on your individual situation.

Hope this gives you an idea where to start and what to consider.

Good luck

Roland

 

[civilperson]

170/square foot plus land costs.