If you are looking to get work done on your home, chances are that you are hoping to figure out what it will cost. Most of us would rather avoid spending an arm and a leg on an upgrade, which is why so many people spend time trying to understand how pricing works for this kind of work. The reality is that every project will cost a different amount of money based on various factors surrounding your home. Many people find themselves struggling to understand the difference between an estimate for work and an actual quote. In this post, we will explain these concepts.
What Is An Estimate?
An estimate is exactly as the name implies: an estimated cost. When you first reach out to a remodeling company to discuss the work that you would like to have done, they will likely ask you a few basic questions surrounding the project. Based on this, they will be able to provide you with a general estimated cost for the project. This is a loose estimate based on limited knowledge, which is why some find this confusing.
What Is A Quote?
A quote is the next step of an estimate. In order to give a more accurate view of the price, the team you are working with will take active steps to truly evaluate the project and give a more accurate price. For a quote, the team will visit your property or evaluate it using images and measurements to give a clear and concise breakdown of the costs. A quote should have the cost for each individual piece of work being conducted at your property.
How Much Do I Have To Pay?
Many people find themselves confused or even annoyed when a quote differs from an estimate, particularly when the price goes up. An estimate is designed to give you a generalized view of the order to help you map out your budget. A quote will be the final price that you pay. However, there can be exceptions. Sometimes a quoted price might change if the team comes across unforeseen circumstances or has to do additional work. While this can and does occur, it is not overly common. More importantly, the quoted price cannot change without your consent. Any changes to the agreed-upon price will need to be agreed upon by both parties involved.
When you are planning out your remodel, an estimate can do a great job of helping you to understand more or less how much an order will cost. Estimates are generally free and can help you to plan out how much you will want to save up for the job. When you feel confident that you are in the ballpark of the estimate, requesting a quote is the perfect next step. This can give you the final cost and help you to sort your finances and schedule the job. In most circumstances, the estimate and the quote will be fairly similar, so you can rest easy knowing how much everything will cost.