Request for info: Construction costs
Could use some help from the brilliant minds on this reddit forum. I am currently researching what average costs are by market for development construction. What are the best tools to use to arrive at some decent figures? Are there any construction indexes that I could use as a benchmark? I’ve heard of turners construction index in passive conversation. I am looking to improve my input assumptions for proforma and looking to forecast how the corona virus will affect construction values in the near to short term.

Thank you
[{"id": "fofyzga", "text": "There\u2019s a lot of variables in that. \n\nBut I guess the biggest questions are what\u2019re you building and where?", "replies": [], "depth": 1}, {"id": "fog04ie", "text": "The Turner &amp; Townsend International Construction Market Survey is pretty good and is free to download. It's an annual publication so you won't get up to date info. Last I checked it was pretty accurate but not perfect, at least for the market I'm in.\n\n[T&amp;T ICMS](https://www.turnerandtownsend.com/en/perspectives/international-construction-market-survey-2019/)", "replies": [{"id": "fog1edr", "text": "This is a good starting point, and a few case studies I've done in school have used it.\n\nHowever, as a professional in this industry, I have to warn you, depending on what you are trying to forecast, it could easily be double this number, or even triple, depending on where in the country you are building, what you are building, and as you've noted with the Covid stuff, the extant market conditions.\n\nIf you are doing this for school or just as an exercise, the index above is fine.  If you are doing this in real life, look at past construction bids for comparable projects your company has done and assume some kind of inflation/escalation value.\n\nIf you've got a project already in mind and have a design team on board, get a Schematic Design Narrative from them and send it to an estimator.  If someone in your firm is well versed in construction project management and you don't have a design team on board, have that person develop a schematic narrative to price out. Should be able to get a rough order of magnitude from that.", "replies": [], "depth": 2}], "depth": 1}, {"id": "foia0kh", "text": "I\u2019ve worked in construction estimating, usually the most accurate are going to be RSmeans or ENRs construction cost book. RSmeans has an online version that gets pretty specific based on size, location, type of building, etc.", "replies": [], "depth": 1}, {"id": "foik8lw", "text": "What country are you in?", "replies": [], "depth": 1}]