Do's and Don'ts of Written Estimates
Understanding written estimate can be daunting most of the time, but you're getting work to your home done without this, you may be making a huge mistake. Written estimates will also tell you what type of contractor you are hiring. You can measure their knowledge on the project by looking at the estimates they came up with. You can also predict how diligent they will be if they finish your project by looking at their written estimates.
1. Time-table - Study how long will it require for your project to be accomplished. It is very essential to determine how long will your contractor work vis a vie the size and scope of your project. You can create your own timeline and schedule that will show how long will it require contractors completing the actual specified work, then compare the estimate submitted to you and the one you just created. Make use of your scheduler to tidy up the actions required to get the job done. Remember this information can be searched through the internet (contractor websites, product review sites, home improvement blogs, etc.)
2. Costs - Determine how much will it take for the project to be done. Know the price of the materials required to get the job done. Include the cost of the subcontractors just to be sure. Also, you can make use of your time-table to determine the number of hours you are likely to have to pay your contractor and their workers. Include the prize of any kind of insurance coverage they may have to do this type of work.
3. Estimate Write-up - This should also record labor, subcontractors, warranty, and rentals. Labor should include your employees' work as well as your own. Rentals should definitely be included on your record, since this also created a negative cash flow on your budget. If the contractor wishes to charge a special type of warranty, you should also include this on your estimate write-up. Don't forget when you write all these expenses down to categorize each based on what expense will it belong (e.g. Labor, materials, sub-contractors, warranties, rentals, etc.)
Remember, when comparing estimates on gutter system installation or on other home improvement projects for example, costs usually differ geographically and same with materials as they are always tied up with the current economic climate. Comparing estimations are often only applicable for a given period.
