More and more people are choosing a house renovation or extension over relocating, for a multitude of reasons. Stay in your comfort zone, keep your job and the kids in their schools but enhance that lifestyle and add thousands to the value of your investment – it’s no surprise that it’s a popular choice. But too many people fall into traps that mean that home renovation costs way more than they planned for.
What’s the solution? Firstly, make sure that when you get those renovation builder quotes, you know what to look out for! Because by avoiding some of the most common mistakes when it comes to that builder quote, home extension prices are much more affordable than many of the other alternatives at your disposal. But get that builder quote wrong, and your house extension cost could blow out exponentially.
So read up and keep that home extension cost under control by avoiding these traps when it comes to comparing renovation quotes:
1. Getting quotes from the wrong builders
It sounds obvious, but ‘the right builder’ can make that home renovation more affordable and the entire process as stress-free as possible. For home renovations you should be seeking quotes only from specialist, experienced home renovation builders – because a great new home builder might not know.
2. Comparing apples with oranges
It goes without saying that you should be getting more than a single renovation quote. But when you’re comparing multiple builders quotes, make sure you’re comparing apples with apples. For instance, the bottom line on one quote might be a lot cheaper, but are there any important things missing – quote ‘exclusions’ – that will cost you a lot down the line? If in doubt, ask the builder what exactly is included and what is not.
3. Not questioning the cheapest quote
Additionally, if price is really the most important thing to you, beware of that cheapest quote! Often, you’ve found an experienced, quality gem of a builder – but just like a used Datsun is cheaper than a new Porsche, that price might be low for a reason.
4. Not understanding the quote jargon
In particular, understand the common quote jargon, like ‘prime cost’ and ‘provisional sums’. In both cases, they’re basically allowances for costs rather than a guaranteed price, and some builders will creatively use these conventions to make their quote appear artificially competitive. If you’ve hired a drafting service to prepare your renovation plans, they should be able to give you assistance with this.
5. Not digging deeper than the quote
If you think you’re happy with that builders quotes, don’t stop there! Look on the builder’s website for testimonials. And don’t be shy to even ask the builder if they can refer you to a couple of past clients who can vouch for their work.
6. Not getting to know the builders
Lastly, while a carefully scrutinised and double-checked quote is all good and well, at the end of the day you’re going to be dealing with human beings – and getting on with those people is important as they are charged with your house renovation. So if something doesn’t seem quite ‘right’ with the relationship, that might be a good reason to look again at the other quotes or get another one.
If you get three quotes to buy that new car or fridge, you definitely want to do the same for a home renovation and carefully assess those builder’s quotes.