Budget is Way over Bid - Can you help?
novahomesick
14 years ago
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rsc2a
14 years agolast modified: 9 years agoluckymom23
14 years agolast modified: 9 years agoRelated Discussions
What did you go over budget on and why?
Comments (27)Worthy - I totally understand what you're saying. I've read enough of your posts to get a feel for how thorough you are. I know the work before saves heartache in the long run. I'm hoping my contractor is current enough and understands my desires as far as finish. I've asked for a detailed list from him where we fill in what exactly we're expecting. He is currently building two homes, both about our size, and he says the finish is very comparable. Experience and knowlege is a great asset in a general. 8mpg- I work for an electric cooperative, so I am in tune to the market in our area. I will also be able to purchase the unit direct from the manufacturer. This will save me an additional 3k or so. Unfortunately, I don't live on our electrical system and won't qualify for the additional rebate of $750 per ton. That would have eliminated any need to balance the cost/benefit. I'm planning to install a bibs fiberglass insulation system. The contractor does very good work and comes highly recommended. I'm tossing around the sheathing material and still unsure if it is smart to put insulation under the slab. We are planning to finish half of the basement and plan to stain the conrete. I'm concerned about how cold the floor may be. Thank you all for taking time to post. Many folks say they over-run or they upgrade and I at times have wondered why they just didn't tell their contractor they wanted granite, hardwood, ground source, etc... in the ffirst place. I guess Worthy is correct in saying experience and planning are important. Not underestimating in the first place... that is the trick it seems....See MoreCan anyone help with confusion over custom cabinet bid
Comments (20)My custom cabinet maker priced the same way, and I also questioned him at first because it was new to me. He told me that over 20 years of building cabinets it's the simplest and fairest way he has of quoting and it all works out pretty closely in the end. Think of it this way: all kitchens have appliance cutouts, it's not unique to your kitchen, and it's already factored into their price per foot to begin with. That is, he could have told you it's $500 x 10 linear base feet for the range wall so a total of $5,000. Or else he could have told you it's $833 per actual cabinet footprint after measurement, so $833 x 6 feet of base cabs plus $0 x 4 feet empty range space = 5,000. It's not like yours in the only kitchen that's ever had space for appliances, so they are already taking that into account in their calcs and it wouldn't have changed the answer. In fact, I'm amazed they even offered to give you another $500 off -- I would take it and run. :) Same thing for the range hood. They already knew they were pricing the hood before they gave you the quote, so their hood price reflects the delta cost. Would it make you feel better to see it itemized as a lower price per linear foot, then a higher price for the hood? The number would be the same in the end because they know what it costs them to build you a quality kitchen and that's ultimately reflected in the bottom line, I hope that helped. I know what you felt because I had the same initial reaction until my cab maker explained it to me and when I thought about it I saw he was right. Bottom line, if you think it's a fair price go with it, if not go somewhere else, but don't get too hung up on the methodology behind their calculations. Good luck with your new kitchen!...See MoreOur architect designed, with builder input, a house WAY over budget
Comments (78)Yes take a comb through the materials and price them out. Have at least 4 builders price out your project with all the trades. Sometimes GCs that offer a level of self performance like carpentry can avoid double mark ups. Did you see any of the major quotes like excavation, framing, plumbing, etc? I'm doing a lower level finish. One bid was 60% over budget....another 44%....then with due dillengence we ended up 4% over budget but went with the contractor that was 10% over budget. Pricing wasn't the only varible at the end of the day. I'd hold the line and get more bids if you can - too much time and money vested - but if the bids come back similar time to cut the cord unless the redesign to meet budget is free....See MoreContractor bids all over the place?
Comments (17)Princeton is the weirdest town I have ever encountered... If you give a price for remodeling too low, homeowners think it's too low and go for a higher price... If the price is too high neighbors suggest using their contractor who is much cheaper but never shows up or charges an arm and a leg and botch-up the job, some estimate the jobs to get a foot in the door to lock the job and if accepted they don't return calls thinking they bided to low, etc heard many stories like this, especially from contractors that come recommended, or the other way around they're expensive thinking recommendation got the job in the bag but the customer says "wow, that is high". I know many good contractors who don't go into that town to give estimates simply for the reasons I mentioned and all that drama with the homeowner mentality in that town. I myself in all the time in business did only a few jobs there one was an office for a Stock Brokerage firm in the early '90s (I think it's a Jammin Crepes place there now) did a deck remodeling on one of the Estate homes. One job I never forget... I gave a price there on a simple kitchen update, nothing major, small house, direct kitchen replacement, I was @ around 15k, haven't heard anything from the homeowner, did a follow-up and he said they will use a guy who did some work for the neighbor... I live 5min from Princeton, hang out there all the time in the summer, nice college town, lots of good restaurants, etc about 1 year later I ran into a homeowner with the kitchen, he was in the same restaurant (Blue Point Grill I suggest you visit if haven't been there yet) at the table right next to me, and we started talking and he said I wish I hired you because he got screwed royally on that kitchen, the guy who came highly recommended charged him 30k and botched up the job and never returned to make it good on it. That being said, don't go by what websites say PER SF Pricing, they are all misleading. You cannot price any job, especially remodeling job by SF. I know the approximate cost of what I can build a New Home on spec per SF other than that I never base estimates on PerSF bases, every job is different and based on materials-overhead-profit. Especially in Princeton, depending on what area you are in, if you are in the heart of Princeton some places you cannot get dumpsters in, or have to deal with other restrictions so the cost is always up to conduct business there, many trucking company's, excavation companies and even contractors, they hear Princeton and they don't wanna do anything with it unless they can get their numbers. Many surrounding towns have Princeton addresses, like RockyHill, Montgomery, Franklyn, Princeton Junction, etc the remodeling cost in this area is much more reasonable because they have fewer restrictions. As for investing money goes, if you are in actual Princeton Township or Princeton Boro (not sure if they combined the two yet, I know they did that with the police a while back) It's worth investing, you cannot go wrong with that. Everything sells like hotcakes there and very fast as most surrounding places with Princeton addresses ( some people just want to have a Princeton Address even if they live in a different town) :-). Good luck...See Moremdev
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