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How to estimate construction costs – The complete guide

The most important part of profitable construction projects is getting the costs right. If you undervalue the price, then you are going to lose money. If you are overvaluing your estimates, then you will most likely lose bids. Either way, incorrect cost estimates can destroy a builder or construction company. It can eat away at your profit margin or damage your reputation.

Many large construction companies understand the importance of a construction proposal, but it is often overlooked by smaller builders and remodelers. That is usually because they don't understand what a construction proposal actually is.
The construction industry is one of the top start-up business sectors, but it is an industry where well over half of new businesses don’t make it through the first five years. However, if you can successfully manage your construction company, you can avoid this pitfall and be set up for long-term success. 

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