The Value of Paid Estimates in Construction Projects

We understand that clients aren’t always keen to pay for estimates, especially when many builders still offer free quotes. However, there is a significant difference between a free quotation and a paid estimate. A paid estimate, prepared by a qualified quantity surveyor (QS) or estimator, offers a detailed and accurate pricing structure for your project. Unlike traditional methods based on a builder’s experience or guesswork, modern estimates leverage advanced technology and tools to provide precise insights into your project’s costs.

Why Choose a Paid Estimate?

A paid estimate delivers a comprehensive breakdown of all charges and costs associated with your project. This detailed approach allows you to identify items you may want to add or remove, providing clarity and control over your budget. For example, a recent estimate we completed was 18 pages long and took five full working days to prepare. While not all projects are as complex, most standard estimates we do take 1-5 full days to complete, depending on the project size off course. This level of detail not only answers most client questions upfront but also saves a lot of time in corresponding, reduces the need for revisions, and speeds up the decision-making process, especially if there are timelines applicable.

At Retro Construction, we use cutting-edge software to prepare professional and comprehensive estimates. This technology enables us to cover every aspect of your project with precision and thoroughness. By leveraging software designed specifically for our industry, we ensure that our estimates are not only accurate but also include all the critical details, giving you a clear picture of your project’s scope and costs. This proactive approach helps us address potential challenges early and provides you with a well-planned roadmap for success.

Our extensive industry experience further enhances the quality of our estimates. With 31 years of building experience, including 20 years in construction office management, 10 years of project management, and 28 years of quoting experience, we bring unparalleled expertise to every project. This depth of knowledge means you benefit from detailed, transparent quotes that avoid surprises, trustworthy service guarantees, and exceptional project planning.

Free Quotations vs. Paid Estimates

If you’re looking for a general idea of costs for your own planning purposes, we can provide a ballpark figure. This figure is usually close to accurate, within a range of about $10,000 on a $150,000 project, as an example, however, such estimates lack detail and clarity. While they can be useful for initial planning, relying solely on simplified quotes from multiple builders can lead to surprises down the line. Builders providing free quotes may miss key details, resulting in unexpected costs during the project and in most cases material or pricing would not have been confirmed, which could end up in a halt of your project for an unknown period. Even if a builder claims their price is fixed, unforeseen expenses can be passed onto you, possibly even without you knowing it.

The Benefits of a Paid Estimate

A paid estimate provides numerous advantages:

1. Fixed Pricing Contracts: With a paid estimate, we can offer a fixed-price contract, minimising the risk of costly variations during your project. (Please note this does not refer to extra work/changes that may have in influence on cost, a client may add onto the fixed price contract).
2. Accurate Material Planning: By confirming materials and pricing early, we mitigate the risks of stock shortages and price increases, which is a huge issue in the NZ market, ensuring your project stays on schedule.
3. Time and Cost Efficiency: Comprehensive planning reduces disruptions, avoids misunderstandings, and ensures smooth project execution. It also allows us to draw up a planning schedule for the project, we can than share with the client. It is very possible without decent planning that a project can run 100% over schedule, taking double the time it could have taken.
4. Transparent Pricing: We obtain quotes from three suppliers for larger items, accept where we are using an already vetted supplier, ensuring you get the best quality and value for your investment.
5. Confidence and Peace of Mind: Detailed estimates provide clarity and transparency, helping you navigate the process with confidence and ease. It also helps a client to see the bigger picture of the project and the result before even starting.
6. Quality: When materials are chosen and adequate time is taken to source and compare these materials, off course it could only mean choosing the better product at the best possible price or even compare and request for discounts when possible!

Planning for Success

Good planning is the foundation of a successful project. Investing in a paid estimate ensures that everything is thoroughly thought through from the start, avoiding surprises and unnecessary expenses later. It will also avoid the knock-on effect of one problem escalating into another, until it might become unmanageable and a big mess. While there is an upfront cost for a paid estimate, it can save you thousands throughout the project by minimising errors and maximising efficiency.

When you’re investing your hard-earned savings into a building project, the peace of mind that comes with a detailed estimate is invaluable. It’s a small cost in the grand scheme of your investment and can make all the difference in ensuring your project runs smoothly and successfully. Choosing a paid estimate, where we have spent perhaps a day or days, to provide the best estimate for you possible, considering every aspect of the build, means choosing clarity, control, and confidence from start to finish over your project and that is real peace of mind!!!

Looking for a professional estimate?