BNi Building News Home Builders Costbook 2023 Edition
Residential construction costs have increased by about 28.7% since January 2020, according to the National Association of Home Builders. And costs for some materials are witnessing even higher gains; softwood lumber has increased 73.9% since September 2021, and gypsum prices have risen 31.4% since August 2020.
The 2023 BNi Home Builder's Costbook can help you take control of this chaos.
It brings you up-to-date material costs and labor costs for every aspect of residential construction. It is the first place you should turn, whether you're preparing a preliminary estimate, evaluating a subcontractor's bid, or submitting a formal budget proposal. It puts at your fingertips accurate and up-to-date material and labor costs for thousands of cost items, based on the latest national averages and standard labor productivity rates.
What's more, the 2023 BNi Home Builder's Costbook includes an expanded set of over 600 regional cost modifiers for adjusting your estimate to your local conditions.
For 76 years BNi has been a trusted source of accurate pricing data, presented in an easy-access format. And this year the research staff at BNi has gone the extra mile to make sure that every cost item in this book is based on the latest and most authoritative information available.
The BNi data doesn’t just give you the costs for major commodities such as plywood and concrete, it presents you with precise details for virtually every component used in residential construction. For example, the costs of wood decking, floor sheathing, trusses and ornamental woodwork are all broken out separately, as are the costs of drywall, tile, roofing materials, railings, siding, and insulation. And you get this same level of detail for masonry, concrete, painting, plumbing, electrical, HVAC and more.
The costs presented in the 2023 BNi Home Builder's Costbook are further broken down into material, labor, and equipment costs, to give you maximum flexibility and accuracy in estimating. As a result, you’ll be able to quickly and confidently prepare bids, check prices and calculate the impact of change orders. And for each item you are given the man hours per unit, so you can see the basis for the labor costs based on standard productivity rates, as well as the latest prevailing wage rates from the US Department of Labor.
All data in this Costbook is organized in the CSI division format. This industry standard provides an all-inclusive checklist to ensure that no element of a project is overlooked. In addition, to make specific items even easier to find, there is a comprehensive alphabetical index.