What’s The Difference Between An Estimate And A Quote In Home Remodeling?
For Memphis area homeowners wanting to get a price on a home remodeling project, the language can get confusing.
What exactly IS the difference between a quote and an estimate?
While we can’t promise you every Memphis remodeling contractor will use the terms correctly and precisely, here are the definitions of each term:
ESTIMATE = a price range your remodeling project or home addition will be within. This will give you a good ballpark number to plan around.
QUOTE = a precise, firm dollar amount that the project will cost.
Some Remodeling Contractors Play Fast & Loose With This Language…
And That’s A Problem
Here’s a key point for any homeowner shopping for a remodeling contractor:
Always understand if a remodeling contractor is giving you an estimate or a precise quote (no matter what they call it).
Some companies will call it a quote, but then will treat the price more like a starting point and then keep adding on as the project progresses. This is why it’s so important to understand the pricing process of a company before you hire them.
It will save you a lot of stress and headaches later.
Here’s How We Do It At Robbins Construction
At Robbins Construction, we’ve developed a method for pricing a remodel or addition to your home in a way that is fair and transparent. It keeps the homeowner in control of the remodeling budget.
The first step is to come to your home and talk with you about your project. We listen carefully and hear your goals for the project.
After that we go back to the office and calculate an estimate. This will be a price range for your project – a solid ballpark estimate.
At this point, you obviously have the choice to say the range doesn’t work for you. If that happens, we part as friends and no harm done.
If the range does work for you, we ask for a small deposit and get to work designing and planning out your remodel. A big part of that process is working with you to make exact product choices.
For example, if you want moderately priced, good quality flooring materials, that will keep your final quote toward the lower to middle end of the estimate.
If you want a super-premium, ‘nothing-less-than-the-absolute-best’ flooring, that will push your final quote toward the high-end of the range.
And then we move on to talk about your next selection. Choice by choice, your budget gets filled out. Once we have everything planned out and all your choices, we provide you with a final quote.
There will be no surprises or hidden fees – where you fall within the original estimate range we gave you will all be based on the choices you made.
Many Memphis Area Remodeling Companies Do This Wrong
Many remodeling companies will come in and give you a quote right off the bat (instead of giving you an estimate range). When that happens, one of three things are likely happening:
- They’re quoting you a big enough price to cover whatever choices you make. With this method, you are likely to be overcharged for what you get because the company has built in an outrageous profit margin. Instead of the price being based on your actual choices, it’s based on what the company thinks they can charge.
- They’re an inexperienced contractor and they don’t know what they’re doing. If this happens, they’ll either be pressuring you later to increase your budget with each choice, or they’ll be the kind of company that goes out of business very quickly (and they won’t be there if you have a problem later).
- They’re bidding low to win the job and will later pressure you into change orders. Some companies are willing to go with a low, vague quote to win the job. Then as the project proceeds, you’ll be told that many things “cost extra.” They’ll want you to agree to change orders that push the budget up and up.
When you compare our process to some of these other pricing methods, we think you’ll prefer the Robbins way.
We think our way is more clear, fair, and less stressful for homeowners. You’re always in control, and you’ll know exactly how each choice you make impacts your final cost.
Contact Us For A Sane Way To Budget Your Remodel Or Addition
Reach out to us now for a free estimate for any of the following projects in the Memphis area: kitchen remodeling, bathroom remodeling, additions, porches, or outdoor kitchens.
Are you ready for your next remodeling project? Let us take it to the next level. Schedule a free consultation today!
