It is one thing to predict the cost of raw materials and other inputs while planning production for regular products. However, construction is an entirely different ball game. Each building is going to be unique, and even if you build a block of buildings which look similar from outside, the costs are going to vary depending on the interiors and usage. Therefore, planning and cost estimates for your home in Hyderabad is a very complex job and has to be performed with absolute precision for each project.
If you end up inaccurately estimating the cost of your home, it can lead to the failure of the entire project. There are two types of inaccuracies, and both have their own adverse effects for the project:
Cost over-estimation: When the project costs are over-estimated, the home owner is likely to end up paying a lot more than the amount necessary. Alternatively, if the cost seems to be too high, it might dissuade the home owner and the project could be cancelled. At the same time, as a construction company, inflated cost estimations can harm the reputation of the business. It can give the company an image of a fraudulent organization that deliberately inflates the costs. As a result, one might not land any projects.
Cost underestimation: An error that leads to underestimation of costs can also have serious drawbacks for the project. It can lead to emergence of unplanned expenses during the construction stage. Depending on the terms of the contract, the unforeseen costs might cause a financial impact on the home owner, the contractor or both. We have seen instances where developers and home construction companies have suffered losses due to cost underestimation.
Causes of incorrect cost estimation
There is a wide range of materials used in a building’s construction such as cement, sand, steel, glass, marble and so on. These materials are sourced from different locations and their prices keep fluctuating all the time. Apart from that, the construction process also requires a lot of man-hours, fuel, and electricity etc.
In practical terms, it is almost impossible to calculate the exact quantities of all the materials that will be used in a construction project. The larger the project, the risk of inaccuracy becomes equally higher. The conventional estimation process would thus require a prohibitive number of hours to be spent by professional estimators, and each of those hours would be paid time. When done in a hurry, the process would leave ample scope for inaccuracies and cost-additions at frequent intervals.
Software driven cost estimation
Epikaizo Construction and our experts are well-versed with all the nuances and needs of a project. We have introduced a top-of-the-line cost estimation software. Combined with our market knowledge it is the best option for Planning and cost estimates for your home in Hyderabad.
When cost estimation is done wrongly, the project starts on a wrong footing and the entire construction process is plagued with constant changes, additions and compromises to the project. Eventually, the cost is inflated, delivery delayed, peace of mind lost and more often than not, the construction quality compromised. There have been instances where the final building cost turns out to be more than 50% higher than the initial estimate. If you are relying on loans from financial institutions for the project then it is unlikely that banks would later on offer additional funds to complete the project.
As the leading technology-driven service provider, we decided to use a cutting-edge software for the planning and cost estimates for your home in Hyderabad. We have experts with several decades of combined home construction experience who use the cost databases and advanced software analytics to create precise cost-estimates. Our software dynamically updates pricing changes and variations to avoid any error caused by such changes. Epikaizo construction price estimator works as efficiently as possible and keeps you completely in control of the construction situation.
It is this accuracy and faith in our software driven cost estimator that we offer you a price guarantee. Once you receive and approve a price quote from Epikaizo Construction ), that’s going to be the exact amount you pay for the project. There are going to be no hidden costs during the construction and no additional costs either.
By relying on the most advanced software for planning and cost estimates for your home in Hyderabad, you are not only going to save money but, also eliminate various other headaches involved with home construction. Go ahead and enjoy the experience by getting your home cost estimates calculated by Epikaizo Construction home cost estimation software today.