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Project Written Estimates

3 Feb 14

Whether you want your gutters changed, or want something fixed, or you just wanted to improve the look and feel of your home – you need to always ask for written estimates for the home renovation project. If you’re getting work to your home done without this, you may be making a huge mistake! This tool will help you project how much the renovation will cost. Understanding written estimate can be daunting most of the time, but this article will help you know the fields you should be looking for, how will it be dissected, and how you could create your own.

When looking at the contractors written estimate, you should be able to understand the following to ensure you fully grasp how the work or the project will be laid out, and how you can create one on your own:

1. Time-table

Study how long will it require for your project to be accomplished. It is very essential to determine how long will your contractor work vies a vie the size and scope of your project. You can create your own timeline and schedule that will show how long will it require contractors completing the actual specified work, then compare the estimate submitted to you and the one you just created. Make use of your scheduler to tidy up the actions required to get the job done. Remember this information can be searched through the internet (contractor websites, product review sites, home improvement blogs, etc.)

2. Costs

Determine how much will it take for the project to be done. Know the price of the materials required to get the job done. Include the cost of the subcontractors just to be sure. Also, you can make use of your time-table to determine the number of hours you are likely to have to pay your contractor and their workers. Include the prize of any kind of insurance coverage they may have to do this type of work.

3. Estimate Write-up

This should also record labor, subcontractors, warranty, and rentals. Labor should include your employees work as well as your own. Rentals should definitely be included on your record, since this also created a negative cash flow on your budget. If the contractor wishes to charge a special type of warranty, you should also include this on your estimate write-up. Don’t forget when you write all these expenses down to categorize each based on what expense will it belong (e.g. Labor, materials, sub-contractor, warranty, rentals, etc.)

Remember, when comparing estimates for example, gutter system installation and other home improvement projects, costs usually differ geographically, the same with materials as it is always tied up with the current economic climate. Comparing estimations are often only applicable for a given period, you can make previous estimates as an influence for current decision making and expectation settings but not as your basis.


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