Accurate Estimating vs. Ballpark Estimating

 

 

 

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You’ve dreamed of building your ideal home in the Blue Ridge Mountains. You’ve been on Pinterest and pinned all sorts of home ideas for every room but now you need to know how much it’s actually going to cost. You know how many square feet you want and even have a few ideas about materials. So you seek out a few builders asking for a ballpark estimate. Now you are even more confused because you just received 3 completely different figures. Why are they so different and what is included and not included? Which one should you use for budgeting purposes?   

Accurate estimating isn’t usually the first thing that comes to mind for a custom home build, but it is one of the most important parts of the home building process. Unlike ballpark estimates, accurate estimates involve experienced construction estimators who work with vendors and partners to calculate all potential costs of the project and ensure that it will be completed on time and within your budget. They consider every single part of the process, from leveling the land to handing over the keys. To create a comprehensive estimate, they must account for materials, labor, equipment, and more. 

At Morgan-Keefe Builders, we prioritize the estimating step and spend the time necessary to ensure our estimates are as accurate as possible. This paves the way for a seamless process and a home built within budget. 

 

Why Estimating is Critical

Minimizes Surprises

Incorporating all potential costs in the construction estimate helps minimize surprises, and reduce client frustrations down the road. It prepares clients for potential issues such as delays caused by a difficult site or possible structural concerns. This helps create realistic expectations. From our longevity in the market and over 40 years of experience, we’ve come to understand that such frustrations are greatly reduced with a well thought-out estimate. 

Improves Productivity

Having an honest estimate also allows us to build trust, increase familiarity, and ensure repeat business with our partners, including sub-contractors, architects and designers. By having a team of dedicated partners that we know and trust, we can complete construction in a timely manner, and often speed up the process due to our long term relationships.

Establishes Trust

We value our client relationships and value establishing trust by demonstrating that we are responsible and accountable. By providing the most transparent estimates, billing and bookkeeping, we are able to supply a very clear picture of projected construction costs. This level of transparency creates trust between us and our clients as well as a beneficial and positive working relationship. 

Provides Best Prices

Honest estimating involves extensive research and obtaining multiple estimates from our sub-contractors. By seeing all of the different options laid out before us, we are able to weigh the possibilities and choose cost-effective options. This helps us to ensure that our clients are getting the best value at competitive prices. 

 

Morgan-Keefe Builders provides artisan-crafted luxury homes as well as a building process that is transparent, efficient, and team-driven. If you’re ready to live in your own work of art,  Morgan-Keefe Builders is ready to partner with you! Contact us today to learn more about creating your dream home. Visit morgankeefe.com.