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Cost per Square Metre Formula:
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Cost per square metre is a standard metric used in construction and real estate to compare building costs across different projects and locations. It represents the average cost to build one square metre of space.
The calculator uses the simple formula:
Where:
Explanation: This calculation provides a standardized way to compare construction costs regardless of project size.
Details: This metric is essential for budget planning, cost estimation, project comparison, and financial analysis in construction projects. It helps stakeholders make informed decisions about project feasibility and cost efficiency.
Tips: Enter the total construction cost in dollars and the total built area in square metres. Both values must be positive numbers. The calculator will provide the cost per square metre.
Q1: What costs should be included in the total cost?
A: Include all construction-related expenses: materials, labor, permits, design fees, and contractor overheads. Exclude land acquisition costs and furniture.
Q2: Does this include external areas?
A: Typically, cost per square metre calculations are based on internal floor area only. External areas like gardens and driveways are usually excluded.
Q3: What is a typical cost range per square metre?
A: Costs vary significantly by location, quality of finishes, and project complexity. Residential construction typically ranges from $1,500 to $4,000 per square metre.
Q4: How accurate is this calculation for budgeting?
A: It provides a good preliminary estimate but detailed cost analysis should include itemized quotes from contractors and suppliers.
Q5: Can this be used for renovation projects?
A: Yes, but renovation costs per square metre are often higher than new construction due to existing structure constraints and demolition work.