Understanding and Evaluating New Home Construction Quotes
Going on the adventure of remodeling a home is not a small project and it can be especially stressful if you have a very limited budget. It is even more stressful when you’re building a new home from the ground up. When that’s the case, you will want to make sure you get new home construction quotes from competing companies to be able to compare the offers.
It’s not too hard to go out and ask different construction companies if they are willing to help you build your dream home, however interpreting the quotes may not be equally easy, which is why this article should hopefully give you a better understanding of what you should be looking out for and how to make sure you’re choosing the right company.
Be sure that you get the most accurate quotes and that you start off on the right foot when you work with contractors. Use the tips presented in this article to make sure you end up making better decisions.
We also encourage you to fill out the form at the top of this page and we’ll work on our end to match your project with the most relevant contractors that will be able to reach out to you to hear more about the project.
Come Up With Working Plans and Drawings, Preferably as Accurate as Possible
The more detailed the plans you’re able to provide your contractor with, the better, and they should preferably be made by an architect too. They should include different dimensions and different rooms, as well as specific details and materials you wish to have used and how much of the material you estimate in each of the given rooms. Detailed plans allows contractors to also provide as accurate quotes or estimates as possible.
You don’t want any unexpected surprises and nor does the contractor. By providing the contractor with accurate plans from the beginning, you’re also showing the contractor that you can clearly communicate what it is that you want which a contractor will appreciate as it leaves less room for confusion.
A Specification for Construction is the Best Option For Contractors to Go Off
With a specification for construction there’s basically no room for misunderstanding and these are what the contractor will prefer. Building specifications is what a contractor will use when they need to do the calculations on their end, and it is no longer simply building plans that you’re giving them.
Getting Itemized Quotes Makes it Easier for You to Evaluate the Companies
When you’re getting quotes, no matter if it’s for new construction, siding or something else, you should make sure that the quotes come itemized. What that basically means is that the different aspect of the project are broken down into line items which means you can see the individual costs for each project, how much will be spent on labor etc.
This is what part of it will look like once it’s been broken down. The numbers here are arbitrary and will undoubtedly depend on your project.
- Roofing – $9,500
- Windows – $4,500
- Electrical Costs – $10,500
These number should not be perceived as what you will in fact end up paying yourself as every project is its own set of specifications. When you have the different costs outlined like that you can see where each contractor estimate the different costs and when you have 4 quotes where one company may quote you 3 times as much for plumbing, you can ask the contractors why that is and how they came up with those numbers.
If you simply have 4 different quotes with a simple number and no further specifications it is very hard to compare anything.
Do Not be Afraid to Ask Questions
The contractors are used to having homeowners having probing questions they wish to get answered before you get started. it is by asking questions that you actually figure out the necessary information about their company and how they plan on executing on the project.
If you have received a quote which somewhat says what the different things are for without being specific, then be sure to ask more questions. What they have quoted you, does it include landscaping, fence installation and other costs that may be very easy to otherwise forget. You should also make sure that hidden costs such as costs of permits are included. They may not be included in the quote and if they aren’t, it’s better that you know about them now than at a later stage instead.
Compare the Quotes
After you have talked to the different contractors and gotten quotes, it’s time for you to compare them. Since you don’t do this every day, you don’t know how much different aspects should cost, increasing the importance of competing quotes. When you get more of them you are more likely to also get a more accurate understanding of what a fair price is given what it is you want done.
Along with the quotes, the different prices should also indicate what it is that’s being done so that you only sign something that clearly indicates what the cost includes. Without any specifications, the quoted price doesn’t mean a lot.
Find Out What Is Included in the Contract
We cannot stress this enough. The more detailed anything is when you need to sign it, the more protected you are when something doesn’t go according to the plan. If it simply says “install new flooring” that is not sufficiently specific, as flooring material aren’t all the same. There should be details about what material is used, in which rooms and what grade to make sure the right types of floors are installed in the appropriate places. There are a lot of components that go into building a home that are very easy to miss in a quoted project. If having trim installed by a carpenter is something that you wish to have in your home, has it been included in the quote in a satisfactory manner?
All the different aspects of the new home construction should be described in the quotes you receive, including materials.
Has the Cost of Windows Been Included?
You cannot live in a home that does not have windows and it’s an important part of the quote to make sure to have included in there. You will also want to make sure they’re both up to the quality you desire as well as the right materials. Cheap windows won’t have the same insulating properties as do better quality ones, and they may not be able to live up to the standards of Energy Star.
Window materials include aluminum, PVC, vinyl, wood and fiberglass with all of them having different features. Vinyl being the cheapest ones, wood being the ones requiring the most maintenance, and then the details should also specify if it’s a double pane, single pane or triple pane window that’s being installed too. The higher quality materials will increase the price but lower the energy bill long term too.
While they may seem like a small part of the overall home, they provide a significant amount of protection and insulation that you require. Building a home has so many different things to it that you may not be thinking of as a first time home builder, which is why careful scrutiny is especially important with a project of this size. In fact, the companies will likely be surprised if you don’t have a bunch of questions for them after getting the quotes.
While you may be on a budget and not go overboard, there is more to it than simply hiring the company that has quoted you the lowest price. You need to make sure that all the things you actually want have been included in the project, and we hope that you now feel a little bit more ready to take this big project upon you.
Getting Quotes Using Contractor Quotes
We will gladly help match you with the most relevant contractors in your area. All you need to do is fill out the form at the top of the page, and we’ll get to work with finding the 4 most relevant construction companies that are then given the chance to reach out to you to inquire about more information before providing you with quotes. It’s completely free for you and takes a couple of minutes to do. What are you waiting for?