Are you in the initial stages of planning an extension or renovation? You might be in the process of comparing building quotes.
Traditionally, builders provide lump-sum quotes that fail to breakdown expenses, and don’t reveal what is and isn’t included.
At RMW Built, we believe our clients deserve to know precisely what they are paying for. That’s why we deliever transparent quotes.
In the article, we’ll look at the importance of transparent quotes in more detail. Plus, we’ll show you an example of one of our quotes, so you know exactly what a transparent quote looks like.
Transparent building quotes detail what is included
Unspecific building quotes are a lucky dip – you never know what you’re going to get. If the quote is comprehensive and you believe the price is fair, then that’s great. But if it isn’t, you could end up with nasty financial surprises further down the track.
Here’s a good analogy. Imagine trying to bake a cake with a recipe that doesn’t include the ingredients. You know what the cake is supposed to look and taste like, but you have no idea what goes into it. You could guess what’s in the cake, but that might end in disaster. You’d be much better off switching to a recipe with the ingredients and measurements clearly indicated.
We can apply similar logic to a builders’ quote. You have the lump sum, but you’re not quite sure of the individual components. This confusion can make it difficult to compare quotes, choose the right builder for your project, and come in on budget.
Transparent building quotes detail what isn’t included
Here is a common scenario that demonstrates just how important it is to know what isn’t included in your quote.
A couple plans to add an extension to their home. After reviewing a number of lump-sum quotes, they opt for the cheapest building company. The quoted price was about 10% below budget. Perfect.
A few weeks into the project, the building company asked the couple to purchase tiles for the new bathroom. This was an added expense the couple had not considered, since they assumed all materials were included in the original quote. Since the original quote was below their budget, they could afford the additional cost.
A couple of days before the builders were set to leave, the couple noticed the walls had not been painted, nor had the timber floors been polished. Unsure, the couple asked the builders how they would finish these tasks in the next few days. The builder informed them that interior painting and floor polishing was not included in the quote, and that they’d have to purchase these services separately.
With these two additional expenses, plus the tiles, the total cost of the extension was 10% over budget, not under budget.
What Does a Transparent Quote Look Like?
At RMW Built, we invest a few hours into preparing detailed quotes. We include a full work and trade breakdown.
Here is an example of how we prepare a detailed, transparent quote.
In the example above, interior painting, floor polishing, tile supply, and driveway extension were not included.
In our quote, our clients can see exactly how the costs add up, and additional services they will need to purchase and pay for separately.