What are the elements of a construction budget?

1. Materials: The cost of all materials required to complete the construction project.

2. Labor: The cost of hiring the necessary workers to complete the project.

3. Equipment and tools: The cost of renting or purchasing tools and equipment to complete the project.

4. Subcontractors: The cost of hiring subcontractors for specialized tasks, such as electrical work or plumbing.

5. Permits and fees: The cost of obtaining permits and paying applicable fees required by local and state governments.

6. Site preparation: The cost of clearing, grading, and preparing the site for construction.

7. Insurance: The cost of insurance coverage to protect against accidents, property damage, and other unforeseen events.

8. Contingency: An additional amount of money set aside to cover unexpected expenses or changes to the construction plan.

9. Design and engineering fees: The cost of hiring a design team or engineer to create plans for the construction project.

10. Legal fees: The cost of hiring an attorney to review contracts and other legal documents, as well as any associated fees.

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