Today’s post is about how to estimate architectural service costs using the square foot method. First and foremost, let’s discuss value. You need to determine the value of your services per square foot.
We’ve previously explored a similar process in our video on estimating architectural service costs based on construction costs per square foot. However, this method specifically focuses on the square foot approach. Initially, you must ascertain the value of your services per square foot.
It’s important to understand that any estimate you provide for a job is just that—an estimate. It’s not set in stone because you haven’t completed the project yet. You’re projecting the potential cost based on your assessment, but the final figure may vary. So, start by determining the value of your services per square foot.
Next, assess the area. Calculate the total area of the work you’ll be undertaking. Once you have the value and the area, you proceed with the calculation. Simply multiply the value per square foot by the total square footage of the project.
For instance, if your cost per square foot is $20 and the project area is 1000 square feet, the estimated cost for architectural services would be $20,000. However, keep in mind that this figure may differ from what the client is willing or able to pay.
Now, how do you determine the initial value? Review your past work. What have you charged previously, or what did previous projects cost? Analyze the value you’ve delivered per square foot in previous projects. Additionally, research what other architects are charging to get a sense of industry standards.
You can also reach out to clients who have completed projects to understand the actual amounts paid. This may provide valuable insights into determining the value. Various services are available to help you understand pricing, but having a clear understanding of the value of architectural services per square foot is essential for accurate estimation.