Home-Cost.com announces its receipt of a U.S. patent for the technology used in Resi-Cost(TM), its online home cost estimating software for consumers and construction professionals.
The patent, #7389255: "Dynamic Residential Construction Cost Estimation Process," breaks new ground in residential estimating technology because it allows construction cost calculations to occur in real time over the internet, as a user makes choices on home design and material options, and it does so for virtually any home design, with or without the use of house plans.
This patented technology serves as the estimating engine in Resi-Cost, the primary online estimating product of Home-Cost.com. Resi-Cost works by calculating the simulated computer geometry of a home created from the design and material choices made online by a user. It then uses a proprietary database of construction costs for over 40,000 zip and postal codes, accurately estimating the cost of a specific home design anywhere in the continental United States, Alaska or Canada. As a user adjusts design choices, construction costs recalculate in real time. Home-Cost.com is the only online estimating company to provide a guarantee of cost estimating accuracy.
Resi-Cost software also includes construction options for environmentally green and energy efficient technology like structural insulated panels (SIP) and insulated concrete form (ICF) construction. Home-Cost.com sells Resi-Cost estimating software on a monthly subscription basis with web-based access provided over the Internet from any computer.
"The award of this patent confirms the value and unique estimating product Resi-Cost offers the residential construction industry. No other software application is able to provide accurate real time cost estimating at such a detailed and custom level or is able to provide immediate cost feedback to a user of any home design change. The computing power, accuracy and value that Resi-Cost brings its customers are significant," stated Robert Formisano, president of Home-Cost.com.
In addition to being used by consumers, contractors and architects, Resi-Cost is also utilized by proprietary building product companies such as Riverbend Timber Framing Inc. of Blissfield, MI. Riverbend designs and supplies timber frame and structural insulated panels (SIP) and has used Resi-Cost in various versions since 2003 to budget the overall costs of client homes.
"By using Resi-Cost as part of our project design and planning process we are able to make sure hundreds of our clients can afford the complete home they want. When the client can take risk out of the construction cost portion of the process, they buy our work and everyone wins. Designing a home to a Home-Cost.com budget enables us to provide a superior building with real value. By using Resi-Cost, Riverbend was able to reduce lost sales from 10% to about 1%," stated Stewart Elliott, regional sales manager of Riverbend Timber Framing.