I’ve written many times about how to choose a builder. I have continually advised to get 3 quotes, but I am not so sure I have shared with you what to do with your 3 quotes once you have them. Deciphering your quotes can be an arduous task, BUT it can save you thousands of dollars. Let’s take a look at what to do with your builders quotes.
What to do With Your Builders Quotes
You’ve met with 3 builders, you have talked them through what it is that you want, perhaps even presented them with plans. Those 3 builders have gotten back to you with their quotes, but what on earth are you looking at? This is where this process can get a little tricky. Ensuring that you read and compare your quotes thoroughly at this point, is a guaranteed way to save money and more importantly, stress. But what should you look for?
Each builder is likely to present their quote differently. This makes the process of comparing even more challenging. The first check you want to make is ensuring there is enough information on your quote. This should include allowances for any items you personally specified, it should be transparent about what it does include even if only a budget.
Allow yourself a couple of hours quiet time, make a cuppa, and sit with your three quotes. Compare them side by side. Make notes on each quote about what it does and doesn’t include. Not sure? Send an email, remember that you always want to get everything in writing to save possible disputes in the end. Not sure of a word, look it up. Do your best to get educated in what your quote is saying.
Common misunderstood words or terms used include PC and PS figures. I have explained in depth in this post, however these are allowances for items (such as a bath tub) or for services (Such as a kitchen) These areas are often difficult to accurately quote on, so the most fair way to represent these items in the quote is using these allowances. Remembering that if you over spend on the allowance, you as the client will have to pay the difference, if you under spend, your builder will issue you a variations and pay back the difference.
You should expect your quote to be anywhere from 12-20 pages long with plenty of detail. Be extremely wary of smaller quotes. The less information you receive, the more room for blowouts along the building process.
Your decision should not only be made on price. The most expensive builder on reflection, could easily be your best choice if everything is included in the quote. The least expensive builder is rarely a good choice. Don’t forget how important communication is, and it is essential to have a good working relationship with your builder. If you don’t like them, there is a good chance you wont like the finished product.
I cannot advocate asking questions highly enough. If you are not sure, ask! After all it’s your project, your money and your home.
Have you had a quote recently? Did you have any trouble reading your quote? Would you like to renovate your home?