What to look for on an Estimate

When you are in the market to find a General Contractor in Florida and South Florida it is important to be educated and know what needs to be on your estimate and what you need to ensure is included when you get one. There are many factors when it comes to finding the right General Contractor. A job estimate helps a small business manage the expectations of its customers. It’s important to make a job estimate before each new project, even with existing clients, so the client knows exactly what to expect (and what not to). You can also ask the customer to sign and date the estimate. Having an accurate estimate is crucial for business success. Making mistakes—such as cost that is too high or too low—can have significant implications on the top and bottom lines. The total production cost is calculated based on the cost of each resource. Having an accurate estimate is crucial for business success. In this article, we will discuss important components that need to be included.

how to select a general contractor

What you should know about a job estimate

First, let us talk about what should be included in your job estimate:

  • Job description. Explain the work you’ll be doing.
  • Materials and labor. Provide a high-level view of the necessary materials and labor and the costs for each.
  • Total cost. Clearly and correctly tally up the total costs of the project
  • This is a big one.
  • Sales and company contact info

An estimate is a document that helps you present a quote to a customer. An estimate helps you show a customer a breakdown of what you expect to charge them if they decide to work with your business. An invoice is a formal document that shows an amount owed by your customer after they have done business with you. Most quotes are only good for one month. This can change based on who offered the quote and what that company’s policies are. If it has been more than one month since a quote was issued, verify that it is still valid with the company before moving forward. In some cases, it may be honored. An estimate is a non-legally binding document. It is an approximation of costs for a project, drawn up by a business to send to a client. It is not a promise. The contract is legally binding under contract law and if either party doesn’t fulfill his or her promises, they can be sued. Quotes are expected to be sent after an estimate is approved. They are similar to an estimate except quotes are expected to be more detailed and precise and can be accepted or signed by the client to begin the project, often as an addendum to a contract. An invoice is a bill for those products or services once a customer does, in fact, hire you or purchase something from you.

Keep in mind that, Estimates are a rough idea of price. They should be used as an initial GUIDE PRICE ONLY. Quotes are legally binding and should ONLY be used when you are certain of the costs involved. NEVER label a written estimate as a ‘Quote’ – You can be held to the figure provided. If the contract price or scope of work needs to be changed, it MUST be done with a written “Change Order,” signed by the customer and contractor prior to the change, which then becomes a part of the contract. A pro forma invoice is a document that provides information regarding the particulars of the goods or services yet to be delivered to the buyer/customer. A formal estimate shows the goods or services needed and the total amount owed to the products or services. Look for a bid that thoroughly outlines every aspect of the job, from the cost of the porta-potty for the crew to the fee for the town building permits—and of course the contractor’s price for each and every element of the project, with a bit of detail about the options that he’s priced.

A trusted General Contractor will have no problem giving you an estimate for the job you have asked to be completed. Take the time to look over the estimate, and ask as many questions as you need to.

Taylor Builders; Ready with proper Estimates for the Job

If you are looking for a General Contractor in Florida or South Florida check out Taylor Builders. They have done excellent work over their many years in the field and can provide proper timely estimates. Go to the trusted contractors at Taylor Builders, contact us for more information.