The Home Renovation is an unpredictable and interesting job and you may get few cost surprises during this job. It is important to add a small percentage to cover the margin of error and this can be beneficial for the renovator. If you want successful completion of the renovation work, you have to estimate everything in advance. The estimate should show the actual cost of the project. The small margin is beneficial to keep, because the prices of the materials are increasing day by day and underbidding can be dangerous for the contractor. It will be beneficial to prepare customers in advance for the possible increase in the cost of the project. Following are some useful tips that will help you to accurately estimate your home renovation work:
· In the first step, you have to look for the overall cost of the material that is important to complete the renovation job. You can prepare a list of things needed and track down estimated amount, including hammer, nails, fixtures, etc. Multiply the each number on the list to estimate your actual need.
· It will be good to conduct some market research to know about the cost of materials. Get at least three quotes and choose a perfect one. You can contact the whole sellers of the industry to get the best quotes.
· It is time to estimate the number of people you required in the completion of home renovation project. Calculate their estimated wages and the paycheck you will get from the customer. The salary of the each contractor in your team should be estimated to give details to the customers.
· Exactly calculate total duration of time that is required to complete the job. It will prove helpful to give an accurate estimate to customers. Add up the total cost of material and the working hours you need to pay for the workers to get the most accurate estimate for your customer.
· Prepare a proposal for the customer and break down all important tasks on the paper. You have to spell important needs of the project and write the time required for the completion of the job. Precisely write purpose for each task. Use easy to understandable language and answer all questions of the customers.
· Write everything according to the customer and explain any unwanted detail to make the customer satisfied with your work. Send your proposal to the customer and ask him to point out the problematic areas. You can update these areas, according to the needs of the customer.