Use a Contractor Estimate Template Word document for each individual job. Allowing contractors and subcontractors to create an estimate with your budget on the same page, saves time and energy in doing the estimates themselves. Word templates save time.
Knowing what to cut out and how much to change a project to get a lower cost estimates is time consuming and takes much thought and planning before starting. Have a contractor in on the decision making process first; let them know what you want before they start their estimates and how you want to spend your money.
Bids and proposals need to be complete before moving forward with a bid. It’s almost impossible to negotiate a price if you don’t know what you are going to get. In the end, it is their project and they are the ones who should pay. It is much easier to spend your time writing a proposal and allow your kids to go through their due diligence, and then after the project is done being confident in the bids and cost.
A basic estimate template is a tool to help with creating estimates. Word documents provide a very effective way to put in details and budget information without being 100% accurate, or spending too much time checking and rechecking.
Having someone else make estimates for you is a common mistake. Many contractors and subcontractors believe that they can write an estimate and send it to you and it will be accepted. Never accept a bid that is based on an estimate.
It is essential to have your estimate translated into the correct language by an expert, otherwise the estimate would not be accurate. As well, it is important to have a basic understanding of how to write an estimate. Be sure you know how to add new features, what to subtract from a project, and have a clear idea of the budget before starting the estimates.
Has the contractor to perform the estimating is extremely important. If you hire someone you trust to do the work for you, they will be committed to building a good estimate and saving you time, energy, and money in the process. Before any project starts, it is important to thoroughly review the estimate that you have received from a subcontractor and make sure it is accurate and doesn’t leave any surprises for you.
Your estimate doesn’t have to be complex, but it does need to include a realistic look at the total project cost. Check the contractor’s website for instructions and help and keep in mind the contractor’s responsibilities when it comes to project details.