You want a mountain cabin built for weekend trips, vacations, to host family, an

Question

You want a mountain cabin built for weekend trips, vacations, to host family, and perhaps eventually to retire in. After discussing the project with a local contractor, you receive an estimate that the total construction cost of your 2000 ft^2 lodge will be $150,000. The percentage of costs is broken down as follows: (a) What is the cost per square foot of the 2000 ft lodge? (b) If you arc also considering a. 4000 ft layout option, estimate your construction costs if: i. All cost items (in the table) change proportionately to the size increase. ii. The first two cost items do not change at all: all others are proportionate.

Explanation / Answer

a)

Cost per square foot= Total construction cost of the lodge/ area= 150000/2000=$75

b)

i)

Construction of 4000-ft2 layout will be double of construction cost of lodge because of increase in area .So construction cost=$300000

ii)

For construction of lodge cost will be $150000 as given.

For construction of further 2000-ft2 it will cost-77% cost of earlier construction. Because first two cost items do not change. Construction cost will be 150000*77/100=$115500.

Total Construction cost =$150000+$115500= $265500

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