Calculate Home Construction Bids in the Master Tracker

Learn how to use the Novel Master Tracker to estimate construction costs, apply client upgrades, calculate margins, and finalize purchase agreement prices.

June 10, 2026 By Lucas Paper

This guide explains how to use the Novel Master Tracker to calculate standardized home construction bids. By completing this workflow, you can accurately configure floor plans, select lot and upgrade options, and generate a final Purchase Agreement (PA) contract price for clients.

This process is designed for project managers, sales agents, and builders. It should be used whenever a new client selects a floor plan and requires a customized construction bid.

Establish the Client Profile

Begin by logging the foundational details of the client and the timeline.

Step #1: Enter the client's full name in the Client Name field. — Enter the client's full name in the **Client Name** field.

Step #2: Input the buyer's agent representing the client in the adjacent field. — Input the buyer's agent representing the client in the adjacent field.

Step #3: Set the meeting origination date and specify the Target Close Date for the project. — Set the meeting origination date and specify the **Target Close Date** for the project.

Configure Build Specifications

Configure the core components of the home build. The underlying spreadsheet automatically populates standard bids and hard costs when you change the base model.

Step #4: Select the desired floor plan from the Model dropdown (e.g., The Red River). — Select the desired floor plan from the **Model** dropdown (e.g., The Red River).

Step #5: Enter the Lot Price corresponding to the property address. — Enter the **Lot Price** corresponding to the property address.

Use the following core configuration options to define the initial scope before adding upgrades:

Specification	Description	Standard Options
Garage Size	Determines the footprint and hard cost of the attached garage.	2 Stall, 3 Stall
Basement Status	Sets the level of completion for the basement space upon delivery.	Finished, Unfinished

Step #6: Select the preferred garage configuration from the dropdown. — Select the preferred garage configuration from the dropdown.

Step #7: Choose the basement completion status from the dropdown. — Choose the basement completion status from the dropdown.

Step #8: Review the Included Interior Amenities and Included Exterior Amenities to confirm the standard baseline inclusions for the chosen model. — Review the **Included Interior Amenities** and **Included Exterior Amenities** to confirm the standard baseline inclusions for the chosen model.

Select Optional Upgrades

The spreadsheet automatically populates the standard bid based on the selected floor plan. Use the optional upgrades section to customize the build beyond the base inclusions.

Step #9: Scroll down to the optional upgrades table and select any desired exterior and interior additions. — Scroll down to the optional upgrades table and select any desired exterior and interior additions.

Step #10: Review the calculated total cost of the selected option upgrades. — Review the calculated total cost of the selected option upgrades.

Calculate Margins and Final Contract Price

The project overview and margin calculation sections are for internal project management only and should not be shown directly to clients.

Step #11: Review the standard hard costs, which are dictated automatically by the selected floor plan. — Review the standard hard costs, which are dictated automatically by the selected floor plan.

Step #12: Verify the calculated margin. The total margin is determined by adding the standard cost and upgrade costs, then applying the standard 10% baseline target. — Verify the calculated margin. The total margin is determined by adding the standard cost and upgrade costs, then applying the standard 10% baseline target.

Step #13: Confirm the projected commission calculated for the real estate agents. — Confirm the projected commission calculated for the real estate agents.

Step #14: Review the final PA Contract Price, which aggregates the base price, lot cost, upgrades, internal margin, and commissions to finalize the bid. — Review the final **PA Contract Price**, which aggregates the base price, lot cost, upgrades, internal margin, and commissions to finalize the bid.

Q: How is the total margin calculated?

A: The margin is calculated by taking the standard hard cost of the selected plan, adding the cost of optional upgrades, and applying the target 10% standard margin.

Q: Should the project overview section be shown to clients?

A: No. The project overview tracks internal metrics like hard costs and target margins and is strictly intended for internal project management.

Q: Are markups already included in optional upgrade prices?

A: Yes. The optional upgrade prices shown in the tracker already account for the required markup, ensuring change orders and customizations remain profitable.

Term	Definition
Hard Cost	The direct, baseline construction costs associated with building a specific floor plan, excluding margins and commissions.
PA Contract Price	The final Purchase Agreement price presented to the buyer, inclusive of the base build, lot, upgrades, margins, and commissions.
Contingency	A financial buffer built into the standard bid to account for unforeseen project costs.
Change Order	An amendment to the original construction contract that alters the scope of work, typically incurring additional marked-up costs.