To estimate construction costs, first list the materials needed (e.g., concrete, steel, tiles) and find their prices per unit (e.g., per kilogram, square meter). Then, calculate the quantity of each material based on your project dimensions and multiply the price by the quantity to get the cost for each material. Add labor, equipment, and overhead costs, and include a 10-20% contingency for unexpected expenses. Sum all costs to get the total estimate and compare it with your budget to determine if the project is worthwhile.