Model for estimating construction costs for low-rise residential buildings

This paper introduces a multi-regression model for estimating construction cost of various structure and envelope types of low-rise residential buildings in Canada. The model is capable of predicting construction cost per square feet for six envelope and structure alternatives in various combinations. The structure types were of wood and steel, and the envelope systems included wood, veneer brick and concrete cavity wall. The predictor variables were building envelope type, area, number of story and story height. The model was developed in four main steps: literature review of the existing methods, real construction cost data collection of completed projects, preliminary diagnostics over data quality, generation and verification of the model. The developed model was successfully tested and validated with real-time data. This model can provide reliable conceptual cost estimate of low-rise residential buildings at the early design stage with reasonable accuracy. It helps owners for budget allocation and/or conducting economic analysis with less effort and complexity.