Comments (82)
Thank you for reporting this comment. Undo
tmaxs
Hmmm, the reason clients don't like to give a number to their designers or contractors is fear of over paying for materials and services. If I tell my contractor that I have a $50,000 budget and in reality, the materials and labor is more in the neighborhood of $30,000, do you think that contractor is going to do the job for the 30k? Or charge more for his own fee? I only bring it up because so many of my contractor friends ( and family) have told me about actual costs and budget costs. For instance, a neighbor contacted a contractor that I happen to know, he gave him a budget of $550 sq foot to build. In actuality, the builder told me that the build could be done for about $350 using extreme high end materials. Did he bid the job based on the 550sq ft...YEP!!!! Sorry to be a cynic, I just wish there were more honest contractors. Then I would be able to get my OWN house done and establish a realistic budget based on realistic expectations.
6 Likes    
Thank you for reporting this comment. Undo
PRO
T.F.W.

Tmaxs said:
"For instance, a neighbor contacted a contractor that I happen to know,
he gave him a budget of $550 sq foot to build. In actuality, the builder
told me that the build could be done for about $350 using extreme high
end materials. Did he bid the job based on the 550sq ft...YEP!!!!"


.............Now you know "you're" friend!


The reason WE ask for ballpark budgets is to be sure this potential client isn't price shopping and is in a realistic range. Keyword "Realistic" I could waste 4 hrs with A site visit and A detailed scopes all year long..... I would get no work done and earn nothing.

1 Like    
Thank you for reporting this comment. Undo
Jill Krol

The best thing the Client could do is to research really well all the products and finishes they want, including what they cost. Then the Client should triple the cost price. That will give them a rough ball park figure, but it won't include things that are necessary that the Client doesn't think about. Hey, nails and tape cost money too! If that rough ball park figure is reasonable to them, they should give that as an approximate budget and still have a 20% contingency set aside. If that price is not reasonable to them, the Client can start over and change some of the products/finishes to accommodate their needed budget. Then the Contractors can bid the project much more realistically and if the two parties can agree, work can be done! As a Client, that's my 2 cents worth.

   
Related Stories
Working With an Architect How to Hire the Right Architect: Comparing Fees
Learn common fee structures architects use and why you might choose one over another
Full Story 130
Most Popular Your Guide to a Smooth-Running Construction Project
How to save time, money and your sanity when building new or remodeling
Full Story 104
Shop Houzz December’s Bestselling Bar Stools With Free Shipping
By Houzz
Elevate your bar’s style with our top-selling stools
See Products
Budgeting Your Project What to Consider Before Starting Construction
Reduce building hassles by learning how to vet general contractors and compare bids
Full Story 53
Budgeting Your Project How to Stick to Your Remodeling Goals
Avoid getting lost in the sea of remodeling decisions by using these 5 steps as an anchor
Full Story 29
Working With an Architect Construction Timelines: What to Know Before You Build
Learn the details of building schedules to lessen frustration, help your project go smoothly and prevent delays
Full Story 67
Working With Pros Contractor Fees, Demystified
Learn what a contractor’s markups cover — and why they’re worth it
Full Story 132
Contractor Tips 9 Questions to Ask a Home Remodeler Before You Meet
Save time and effort by ruling out deal breakers with your contractor before an in-person session
Full Story 22
Shop Houzz Up to 75% Off Oversized Area Rugs With Free Shipping
By Houzz
Find a rug that fits your larger space's style and dimensions
See Products 1
Most Popular 10 Things to Do Before the Renovation Begins
Prep and plan with this insight in hand to make your home remodeling project run more smoothly
Full Story 84