PERFECT! You are ready to start your #HomeRemodel! You have a book of ideas and many pages earmarked in catalogs to show your potential contractor the amenities you want in your home. Now it’s time to get the expert opinion of a Fully Licensed and Insured Contractor about the cost it will take in order to make your dream a reality. During the consultation you layout all the high points of your #HomeRemodel including cabinet color and tile choice. You are feeling great and on top of it you LOVE your contractor. A few days later you receive an ESTIMATE for the work that will be done to your home. But what is an ESTIMATE? Is that going to be the FINAL COST of your #HomeRemodel? In simple terms the answer is NO and here is why:
The nature of an estimate is to make an educated projection on the cost of the #HomeRemodel based on labor and materials. Contractors can’t see behind walls and they can’t foresee a product you want being discontinued. This is why estimates are just projections. Some of the major reasons an estimate changes are the following:
- Faulty Wiring in the walls that is not up to code and a fire hazard.
- Deterioration in the structure of your home. It could be mold or something like termites.
- Plumbing issues such as asbestos lined pipes.
- Discontinued or back ordered materials.
That being said contractors will do their best to stay within the estimated price point. But unforeseeable changes can alter cost which doesn’t always mean more money. Estimates can fluctuate both up and down it all depends on the build. When you receive your FINAL BILL you should expect a change from your estimate. As a #HomeOwner knowing that estimates are different than final bill costs will help you to better budget your build. Always allow for wiggle room to ensure that your expectations can be met within your budget.