The next big question is: What about the square footage of the plot area that i.e. the size of the building as per its footprint on the plot area? This too can be calculated by using the thumb rule of calculation of square footage of the property and also by making use of some commonly accepted formulas to determine the square footage of a certain plot area in the real estate market, like Niven’s (1947), Appraisal System or Fables-type (19?? ), assuming normal commercial and residential properties. Now, using the square footage of the plot area, calculate Niven’s (1947) or Appraisal System’s (Fables-type) formula to determine the square footage of a property and also to find the average of Niven’s or Appraisal System’s formula for the plot area. In this way, you can easily find out how much construction cost you are going to incur for your new dream home.
Construction cost calculator