Remodeling estimating is a wide and deep subject because several variables need to be factored into cost estimates. Whether you are doing a home improvement, remodeling a bathroom, or a commercial organization that is quoting on project work, you need to consider all the variables and do the necessary research to come to an accurate conclusion regarding what the project entails. This article will consider some of the most important aspects you need to cover for home improvement estimating.
A great way to get ballpark remodeling estimates is to take advantage of the calculators offered by sites such as contractors.com. These calculators allow you to enter dimensions and produce rough guides based on material and labor estimates. You should consider the actual remodeling cost per square foot can vary considerably from location to location due to labor, equipment, and fixture costs.
Some websites can assist with contractor estimating that be used to produce guidelines for labor remodeling estimating. Due to the variations in operating costs, labor costs are the single biggest contributing variable that can influence your project budget. It is estimated that insurance costs for workers’ compensation and liability can cost contractors up to 30 percent more in the Northeast than it does in the Midwest. This raises unit labor costs in the Northeast accordingly and is passed onto the consumer.
Individual contractors each place a value on their time. In situations where there is tight market demand, competing resources can contribute to inflated labor quotations. You should remember that your $30,000 remodeling job is also competing with larger more lucrative $100,000 propositions. When labor is scarce, contractors raise their prices. An overheated housing market is an example where remodeling cost estimating can experience a wide variation in bid prices which sometimes reflects the contractor’s availability.
Outright fixture costs also need to be factored into home remodeling estimates. There can be a great deal of difference between a simple bathroom makeover and a full-scale makeover with new gold-plated fixtures and a Jacuzzi. Ballpark figures that do not allow for variations in quality and quantity of fixtures can fall well short of reality. You should consider material costs as part of your remodeling estimate. You should also be aware that contractors who source materials add a margin on top of the material costs. Knowledge of fair margins in the associated area and industry can assist with producing more accurate remodeling cost estimates. You should also build in a variation allowance for projects in case additional work or changes need to be made to the original specifications. This will provide greater overall peace of mind and minimize the chance the project gets derailed due to cost overruns.