Changes with respect to commodity prices and currency movements mean that it has now become even harder to assess the costs of construction. From the standpoint of a general contractor trying to determine a bid price there are four major pricing or cost elements: (1) materials; (2) labor; (3) equipment; and (4) mark-up or profit margin. From the viewpoint of an owner contemplating building a structure, there is a fifth element, financing costs. This article attempts to disentangle some of the key issues.