square foot method

square foot method

The practice of estimating the cost of construction work by reference to the number of square feet in a structure. For example, houses of a certain quality might cost $100 per square foot to build.One might obtain a wide variety of bids for subcontracting work,such as plumbing and painting, because of the ability of some subcontractors to review plans and calculate the labor,materials,overhead,and profit necessary for them to accept the job,while others use a simple square footage method and hope that it all works out okay.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.