Frequently Asked Questions

FAQ

How many estimates should you get for a project?

Schedule estimates from at least three contractors.

If you have time, schedule more. But you need to get at least three estimates, because without three, you'll never be able to tell if one estimate is an outlier. Even beyond the price of an estimate, it's important to get three because a contractor might be wrong.

Should I get multiple bids?

2. Remember the power of 3. Receiving at least 3 bids from contractors is beneficial because they can provide you with enough options to get the expertise and quality you need. If you have less than 3 bids, you might not have enough to compare.

Why do contractor prices vary so much?

Contractors don't all use the same method and even when they do, they may not approach it in the same way. This is why, when you're looking for bids, some contractors will present a much lower price than others.

Why do home improvements cost so much?

Labor and Materials Shortages and Their Effects

Projects that were once affordable were now costing upwards of 20% to 35% more. So, spending increased because while more people were doing work on their homes, projects were also costing a lot more.

Why is it important to get multiple quotes?

So, we recommend before making a decision, get multiple quotes. This way, you can compare prices, you can see what products and services each company offers, and ultimately make the best decision for your home and budget.

What should a written estimate include?

Your estimate should include the:

• Overall price.
• Breakdown, listing the components of the price.
• Schedule, detailing when you will do the work or deliver the products.
• Terms and conditions.
• Time period the estimate is valid for.
• Payment terms or schedule.

What should be on a construction estimate?

In any case, your estimates will include the cost of materials, labor costs, and any other costs associated with their construction project. Your goal is to provide a detailed cost estimate so the client can determine whether they can afford you and so their expectations are realistically set from the very beginning.

What disclaimer to put on estimate?

This estimate is not guaranteed. The price named in the estimate is an approximation of the project requirements as described by the client. The actual cost may change after all of the project elements have been negotiated and finalized. The client will be informed of any changes in cost in advance.

What terms and conditions should be on an estimate?

Here's what your general terms and conditions might look like: This estimate is not guaranteed. The price named above is an approximation based on the project requirements defined in conjunction with [client/customer]. The actual cost may change after all elements of the project are negotiated and finalized.

Are written estimates binding?

An estimate is a non-legally binding document. It is an approximation of costs for a project, drawn up by a business to send to a client. It is not a promise.

What do you call a person who remodels houses?

For example, someone recently asked what do you call a person who remodels a house? Well, the short answer is a renovator or a general contractor.

What is a quote in construction

What is a remodeler job description?	Remodelers use physical ability and mechanical skills to replace and repair walls, floors, roofs, cabinets, counters, and fixtures of all types in order to build new rooms and refurbish existing rooms. Employers and individuals look for remodelers who have the skills needed to perform these tasks.
What should a contractors estimate include?	A contractor's estimate should include: Itemized costs of materials. All labor costs. Costs of hiring any subcontractors. Estimated total before taxes and fees. Taxes and fees. Profit and overhead.
What is a fancy word for remodeling?	Fix up. Modernize. Overhaul. Rebuild. Recondition. Redesign. Refurbish. Rehabilitate.
How do you ask a contractor for a quote?	Tell the contractor what you need from them. Then ask them to give their best possible estimate, and they'll know how much work is involved before providing an answer. Explain in detail the timeframe for your repair. Very few general contractors will quote you a price more than three months out.
How do people pay for their renovations?	If you do not have time to wait for an insurance claim to go through, a loan could be your best option. Home improvement loans and credit cards may work best for smaller repairs, but larger repairs may require a home equity loan or HELOC.
How do you price work for construction work?	To determine how to price a construction job, there are two fundamental formulas: Price = Cost x Markup. Net profit = Income – Cost of goods sold – Expenses.
What is a good markup for construction?	As a general contractor, this is your profit margin, or in other words, the amount left over after paying all of the costs of the job. A typical contractor markup is usually calculated by percentage, with the average markup varying from 7% to 20% or more.
Are construction estimates negotiable?	Many contractors are willing to lower their cost or negotiate particular contract terms if they're competing for the work. For example, in a recent Angie's List poll, more than 80% of contractors indicated they were willing to drop their prices to get a job.
How do you tell a contractor their quote is too high?	Contact the Contractor About Your Concerns To follow up, begin with a non-hostile phone conversation. Ask the contractor to explain why the price rose so dramatically from the initial estimate. He will likely say something about unexpectedly high expensive labor and materials.
How do you negotiate a construction estimate?	How to Negotiate with a Contractor Set the Right Tone. Talk with Previous Clients. Get Multiple Bids. Get Details in Writing. Be Clear About Your Budget. Ask for Help Trimming Costs. Be Creative About Reducing the Price Tag. Know Who to Call if Things Go Sideways.
How to do construction estimates?	Construction Cost Estimating: A Step-By-Step Guide Review bid package. Conduct a site visit. Perform a material takeoff. Solicit pricing from suppliers and vendors. Evaluate labor requirements. Determine insurance and bonding costs. Calculate overhead and indirect costs. Account for profit and contingency.

• How do you send a construction quote?
  • When making yours, you'll want to be sure to include these basics:
    1. Company name and contact information.
    2. Company logo.
    3. Document title, such as, “Construction Quote”
    4. Individual or company name who is requesting the quote.
    5. Individual material and labor cost breakdown.
    6. Total project cost.
    7. Your quote's expiration date.
• How many quotes should you get from contractors?

  • 3

    We recommend 3

    In each of these cases, two of these quotes are pretty evenly matched, but one stands out. One is very cheap and one very expensive. Quotes that come up a lot higher could be from a larger construction company.

• How can I request a quote?
  • Here's a list of steps you can take to request a price quote via email:
    1. Write a subject line.
    2. Develop a strong opening.
    3. Ask for a quote for specific items.
    4. Add additional details and requests.
    5. Close the email.
• What is the most expensive part of remodeling a house?

  • Typically, when homeowners remodel their kitchen countertops, they invariably succumb to the temptation to purchase all new appliances as well. This helps to explain why kitchens are typically the most expensive room to remodel.

• How fake are home renovation shows?
  • DIY projects shown on TV are actually being supervised and largely executed by pros behind the scenes. One participant on Trading Spaces Family had this to say: “On screen, they show just the families working, but behind the scenes there's like 6-10 other people that come in the room to expedite the process.”

• What part of your house is the most worth remodeling?
  • Kitchens and baths are the areas in a home "where you can tell if money has been well spent or not," says architect Steve Straughan, a partner in Los Angeles-based KAA Design Group. "They're the most expensive areas of the home in terms of construction. And they're where people spend time in their homes."

• How does HGTV shows do renovations so cheaply?

  • "Design work is paid for by homeowners," the statement said. "HGTV pays for some labor or costs to expedite production if needed, but generally, homeowners are paying for their services. And, they may have access to discounted services or goods."

• What is the most expensive thing to fix in a house?
  • Here are the top 10 most expensive home repairs:
    • Repair or replace hot water heater.
    • Termite damage.
    • Water damage.
    • Repair or install new pipes.
    • Heating/AC repair.
    • Mold Removal.
    • Electrical issues.
    • Septic system repair. A septic tank not working properly can be a big, messy problem (ew).
• What should a construction quote include?

  • In construction, a quote is a document that has a detailed breakdown of the expected costs that are associated with a proposed project. This includes facets like labor cost, material costs, and quantities. Usually, quotes are only going to be valid for a certain period of time–generally about a month.

• How do you write a construction work quote?
  • When making yours, you'll want to be sure to include these basics:
    1. Company name and contact information.
    2. Company logo.
    3. Document title, such as, “Construction Quote”
    4. Individual or company name who is requesting the quote.
    5. Individual material and labor cost breakdown.
    6. Total project cost.
    7. Your quote's expiration date.
• How do you quote a construction project?
  • Construction Cost Estimating: A Step-By-Step Guide
    1. Review bid package.
    2. Conduct a site visit.
    3. Perform a material takeoff.
    4. Solicit pricing from suppliers and vendors.
    5. Evaluate labor requirements.
    6. Determine insurance and bonding costs.
    7. Calculate overhead and indirect costs.
    8. Account for profit and contingency.