Price Per Square Foot Estimation

[Darrell Noe]

Hey BP . Question on estimating square footage for new construction. I am currently building my business plan for a multi-home development that I will use for vacation rentals. Without a solid contact (yet) in the construction industry here in Georgia, I am looking to the BP community to pint me in the right direction of  good resource to do this. Do you have any tips, websites or general rule of thumb? It goes without saying that I understand it's an estimate only and not final numbers until the details are worked out, but it will help me put together a solid financial estimate when doing so. Thanks in advance. 

[Will Barnard]

Originally posted by @Darrell Noe:

Thanks @Tan Mehedi. I just purchased that book and its next up on the list. However I am looking for new construction estimates more that rehab estimates for this particular project. Does the same usually apply for both? I would image they would be different. 

 You are correct, they are totally different and estimating rehab budgets is not accurately done by a per square foot basis unless every one of you rehab projects are so similar that they are the same.

I can't give you a price per square foot without knowing the exit value, the finishes, the lot, etc. Prices in your area may likely be different than mine as well. The other factor is, are you hiring a general contractor or are you the GC? Makes a difference as well.