Here’s an understatement: 2020 has been a year of change. We’ve changed where and how we work and learn, even how we connect with friends and family. And over the last year, construction costs have experienced an unusual amount of change.
Construction Cost Changes
Since January 2020:
57% of construction materials costs increased.
82% of construction equipment costs increased.
98% of labor costs increased.
With material, equipment and labor costs rising, it’s clear that construction will cost more in 2021 than it did in 2020. And if you’re using outdated construction costs for your estimates, even costs from a few months ago, you could end up with overruns in budgets that are already airtight.
All this change is a lot to keep up with. But with updated RSMeans data from Gordian, you’ll have all the construction costs and tools you need to estimate projects accurately for 2021.
With 300+ new line items, over 25 new assembly models and specialized modifiers to account for the effects of COVID-19 on construction projects, plus quarterly data updates, our 2021 data will make sure you’re prepared for anything that comes your way in next year.
Find out everything you want to know about changes to the RSMeans database, straight from our insiders at our 2021 RSMeans data Release webinar.
COVID-19-related Construction Costs and Modifiers
COVID-19 has changed the way construction gets done. Masks and personal protective equipment are now part of every project. So are temporary barriers for social distancing, and new protocols for preventing the spread of the virus.
All of these changes cost money and time and they must be accounted for in accurate construction estimates.
That’s why Gordian has added special COVID-19 line items and modifiers to our 2021 RSMeans data release. Available in RSMeans data online and in select book titles, these new additions will help you estimate the cost of every mask, glove, temperature check and more.
