Choosing a Contractor, Part 3 of 3:
What to Expect from an Estimate
You’ve got your short list of possible contractors and you’re comparing estimates. The cheapest one is the best one, right? Not necessarily. Some contractors come in with low-cost estimates because not everything is included. Add-ons and hidden fees can significantly increase the final cost of your project. Be sure that any budget you’re considering includes:
- Details of your project
Scope of work
Timeline for the project
Breakdown of sub-contractors
- A clear breakdown for each line item
i.e. framing, insulation, painting, etc.
- Clarity regarding labor and material costs
Markup on materials
Cost differences in labor rates between sub-contractors
- A separate line item for profit/overhead – your contractor does this for a living and should generate income by taking on your job, but you have a right to know how much. Demand transparency.
- Anticipated final project cost
What’s the variance on the overall cost of the project (5%/10%?)
In this series, we’ve covered ways to find contractors, interviewing candidates, and parsing out estimates. Are you ready to move forward with a home renovation or addition? With 20 years of experience, references from past and present clients, and the clearest estimates in the business, Elite Renovations is here to help. Are you ready to turn your house into your dream home? Call David Sciascia at (203) 650-8017 today to get started.