FORMATURA Design & Build Inc. offers two approaches to the costs of your project: Working Budget Estimate or Comprehensive Quote. Both have advantages.
Working Budget Estimate
A Working Estimate is an approximation of final costs. We assign anticipated amounts to the categories specific to your project. The more you can tell us about your ideas and expectations, the more accurate the estimate will be. In particular, your finishing choices – exterior cladding, windows, doors, interior floors, trim, counters, cabinetry and bathroom fixtures – influence the final cost.
As the project proceeds, with each billing cycle we reconcile actual costs against the Working Estimate. You receive an update of costs to date, and cost projections to finish the work.
The advantages of this approach are:
- You only pay for actual costs incurred.
- You will be able to start your project before all the drawings, details and specifications are complete.
- Working from an estimate provides some freedom to make changes in your design, finishes and budget as the project progresses.
- The regular updates on costs to date and projections to finish the work provides flexibility to adjust your plan to accommodate unforeseen developments.
This is our standard approach and is part of our management service for your project.
A comprehensive quote is a firm price for a very specific scope of work. This approach is well suited for simpler projects such as installing new windows or building a garden shed where the goal and the process are quite straight forward. We provide you with an appropriate set of 2D schematic drawings to illustrate the improvements, together with a detailed breakdown of costs anticipated with the work.
We also offer this service to our clients for large scale projects such as a new coach house or home. However, to create an accurate quote, we need to prepare complete detailed architectural drawings, plus a Finishes Schedule. We must know ALL your specific finishing choices in advance. Exterior cladding, windows, doors, interior floors, trim, counters, cabinetry and bathroom fixtures all influence the final cost. FORMATURA must also solicit detailed quotes from our suppliers and trades.
Building a detailed quote requires a significant upfront time investment, from you as well as from us. Typically, it takes several weeks to source all of the required information. If you prefer to have a Comprehensive Quote, we will bill you on an hourly basis to source and prepare the information.
The advantage of this approach is:
- Certainty: you have the opportunity to tailor the total cost to the your desired budget before construction starts.
This approach best suits a person comfortable making multiple decisions and commitments far in advance. Inspiration photos are a big help.
Contact us to discuss what will be the best approach for you!