What’s the difference between an estimate and a quote?

What’s the difference between an estimate and a quote?

What’s the difference between an estimate and a quote?

If you’re in the market for a budget estimate or work quote, you might be asking yourself “what’s the difference?”  The answer is scope of work.  This blog post breaks down the differences between estimates and quotes so that we can better understand which one we need when we are working on our next project!

A budget estimate is often used to get a feel for how much something might cost and if it seems feasible, then your contractor will ask for more details and move into quotes and proposals.  A budget estimate gives you an idea of costs without going into detail about what will happen on your project.   

Quotes, on the other hand, are very specific. They include a detailed scope of work that includes specific materials and labor costs. Quotes are often used for construction projects because they require an accurate breakdown of how the project will be completed.  This is especially important in situations where budget creep could occur- when the cost of the project starts to spiral out of control because of poor planning.  

In general, the more complicated the project, the more a strong design and selection process is critical to eliminate costly change orders.  That’s why it’s important to get an accurate quote from your contractor- so that you can budget for your project accurately and avoid any surprises down the road!

The BGW Construction Design/Preconstruction Process aids in developing an accurate scope of work quote by guiding our clients through the numerous decisions that need to be made. We take the time upfront to learn about your budget, schedule, and objectives in order to provide a scope of work that is tailored specifically for you. After your design is accepted, we’ll provide you with an itemized estimate of our charges so that you can see exactly what you’re getting and how much it will cost.  This way, there are no surprises when it comes time to start construction! If you’re interested in learning more about our process or getting a quote for your next project, please don’t hesitate to contact us for a consultation.

This content is brought to you by BGW Construction, a leading provider of design/preconstruction services for custom homes and home remodeling projects in the Hendricks County area. Connect with us on Facebook, Instagram, and Houzz for more tips on budgeting and planning your next project.

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