Alternative To Marshall & Swift Res. Cost Handbook

[Lee Lansford]

I was just about to write a check ($189 + sales tax) for my renewal to the Marshall & Swift Residential Cost Handbook and it struck me--this is not an inconsequential cost.

I have used M&S handbook for "umpteen" years and I do rely on it. BUT, I am now wondering if there are some alternatives to the M&S service that, perhaps, are not as detailed but still provides a sound basis for estimating residential construction costs AND at a lesser cost?

Do you have any suggestions?


Lee Lansford, IFA

 

[sos]

I too have used M&S for years. However, last year I tried National Building Cost Manual from Craftsman Book. The cost was $23.00 with free shipping. I think after Jan 1 they raised the price somewhat. It not only includes residential costs but commercial. I find the cost more accurate than M&S. Typically M&S was always low. Check it out below


Craftsman Book


Jay Sosna

 

[Lee Lansford]

Thanks.
Since you have familiarity with both cost services--and because I am familiar only with M&S--can you tell me how similar in format this alternative is to M&S specific to the cost per SF method?

 

[GeorgiaBoy]

I am interested in this too. Does it have local cost multipliers?

 

[sos]

In their cost figures everything is included except air conditioning. You count the corners of the house (4,6,8 or 10), then look at the square foot area and use the correct location adjustment. There are 4 quality classes ( Low, Average, Good and Best). There are also quality classes between Best & Good, Average & Good and Average & Low. A total of 7 quality classes. There is a page in the book explaining each classification and what is included. After using it a couple of times, you get use to what class rating you use. Down here, new tract homes ($300,000 & up)are either Good of Good & Best. At the time, I figured for $23.00 how could I go wrong. I use this for residential and sometimes for commercial. However I still buy the M&S Commercial Book. I can double check residential with this.

Jay

 

[sos]

There are 16 location adjustments in Georgia. However nothing for Fayetteville.

 

[Neil Anderson]

I have loaned my M&S book to several local contractors I know who do the majority of building in my area and the reaction is unanimous - it’s an absolute joke.

 

[Jeff Horton]

My question is how would the Craftsman book hold up in court if you had to defend it? That is why I have stuck with M&S. Right or wrong it is a recognized source and should be defendable.

On a side note since most people don’t use the M&S handbook correctly I went with the CD since it walks me through each step and less room for human error.

 

[Terrel L. Shields]

R. S. Means (Reed Construction Data) has a book called Means Residential Square Foot Costs
It has economy average custom and luxury models - 1, 1½, 2, 2½, 3, bilevel and trilevel. You then have main building, and wing or ell sections, local modifiers, 1,2, or 3 family; detached, row or semi detached; and exterior wall modification

You can calculate insurable cost or replacement cost. It is illustrated. it has specs for each level, and breaks down the cost per SF.

But the bulk of the book is devoted to break down of individual features and that can be used to estimate repairs, etc. It also includes pools, fencing, driveway costs, etc.

It has location factors. It lacks a residual table or total life estimates, which I believe NBC has & NBC has commercial buildings and ag buildings. List price is $39.95. In my opinion, Means is a little more detailed than NBC and is nearly, if not, as detailed as M & S. In fact, the assemblies section is more detailed than M & S. Buy from Amazon and have it next week. I think Barnes and Noble may keep it as well.

I created a table in Word Perfect for both NBC and Means which I can input the costs and calculate a total per SF cost. I also have a 3 sales land grid which I put the table with and an introductory section which comprises my entire Cost approach in Narrative. I created it as a template and can usually knock one out if I have the three land sales in front of me in about 15 minutes.

I find Means more often calculates a unit value that resembles local builders costs derived from the market..especially for newer houses in the 1,200 - 2,400 SF range and average-custom quality. "Luxury" is just too variable...ditto for M & S high quality home estimates, too.

There is also a program which you can buy for like $99 PLUS the CD of the book (varies but $299 is about the max) for creating estimates via their program. The program will run the SF book, but also can be used for other Means titles, including the electrical contractors cost book, commercial cost books, etc. There are also on line updates you can download quarterly. They also list 27 software vendors who use Means Cost data in their calculator programs.

how would the Craftsman book hold up in court if you had to defend it?

Reed Construction is worldwide and has been around since 1942. Robert Snow Means established the cost service. They mention him in the past tense so I assume he is dead. I was told by a casualty appraiser that they relied upon their books exclusively and that part of the data used by M & S comes from Reed. NBC polls about 120 companies plus other sources of data. M & S may be the largest but they are not the only provider. Boeckh was older than M & S until they sold out to M & S. Boeckh was used by the insurance biz probably more than was M & S, which was assessor and appraisers. M & S has ruined Boeckh, which had the very best software for Residential estimating that I ever used.

 

[Will43]

Originally posted by Jeff Horton@Jan 14 2005, 10:39 PM
On a side note since most people don’t use the M&S handbook correctly I went with the CD since it walks me through each step and less room for human error.

What does the CD cost?