When considering house renovations, a new bathroom or stairs, you know you are about to make a large financial investment into your home. Customers want bang for their buck. They want the job done properly for the budget they have.
But did you know that a Quote can cost you more money than an estimate?
Here is the difference between the two.
What’s an Estimate?
An estimate (or should we say, a guesstimate) is a rough, educated guess on what a job MAY cost you. Your contractor will base the estimate on previous jobs of similar nature, and calculate approximately how much time will go into the job and the materials necessary.
An estimate is usually a verbal guess – and is a quick and easy way for your contractor to calculate the approximate cost.
Estimates are not legally binding.
What’s a Quote?
A quote is much more formal and takes a lot of time to assemble. A quote calculates every single item required for the job and the specified hours staff will take to create the job, but where quotes get more expensive are the worst-case scenarios. Quotes must consider the weather, finding unexpected problems during construction, and anything that can go wrong. And these are built into the price.
So when a contractor has a range of pricing, a quotation will usually choose the most expensive choice in order to ensure the quotation covers the cost. Quotes are also legally binding.
Which is Better: An Estimate or a Quote?
It really depends on the job. Smaller jobs are better with an estimate, and the contractor charges you materials plus labour.
Quotes also take a long time to put together – and that is time the contractor has to take off the tools. Many contractors are now charging for the time it takes to put quotes together.
When you first meet with your contractor, they will usually have a good look at the job that needs to be done and will provide an estimate on the cost of the work. If you are confident that you have chosen the right contractor, you should seek a formal quote.
Remember – It Isn’t Just The Cost You Should Consider
When hiring a contractor for a job, you shouldn’t JUST consider the cost (although that is a big part). Remember that any job that costs over $3000 needs to be done with a QBCC License. If your contractor has no QBCC Licence, there is no comeback if that work is done poorly.
A QBCC Licence also offers a six-year guarantee of workmanship.
Other things to consider include:
Is the Contractor new to town?
Many new contractors who are fully qualified are moving to Gympie – and that’s fantastic! The town is growing, and so we need more tradies. But beware of the ‘Fly by night’ contractors who offer cheap work, do the work poorly, and then quickly move on to the next town. Ask how long your contractor has been in Gympie and how long they plan on staying.
Will you be able to call them in two years’ time when something goes wrong?
Ask to See Examples of Their Work
When choosing a contractor, always ask for an example of their work in real life. For example, if you are undertaking a bathroom renovation, ask your contractor to look at real examples of bathrooms they have completed. Even better, ask if you can speak with previous clients!
Tamara is a very happy customer!