The Difference Between A Quote And An Estimate: What Homeowners Need To Know
SLG Contracting- Mar 19
- 2 min read
When planning a home renovation or construction project, understanding the difference between a quote and an estimate can help you manage expectations and budgets more effectively. While both are pricing tools used in the industry, they serve distinct purposes and can impact the outcome of your project.
What Is An Estimate?
An estimate is an approximate calculation of the costs involved in a project. It is typically provided at the beginning of the planning phase based on the contractor’s experience and initial assessment of the work. Because estimates are not fixed prices, they can change as more details become available or if unexpected challenges arise.
Key Points About Estimates:
Flexible Pricing: The final cost may vary depending on materials, labor, and unforeseen issues.
Rough Guideline: Useful for budgeting but not a guarantee of the final price.
Subject To Change: As more details are confirmed, the estimate may be revised.
What Is A Quote?
A quote, on the other hand, is a fixed price offer for a specific scope of work. Once a quote is provided and agreed upon, it generally cannot be changed unless modifications to the project are made by the homeowner. Quotes are more detailed and include precise costs for labor, materials, and other factors.
Key Points About Quotes:
Fixed Price: Once accepted, the cost should not change unless agreed upon.
Detailed Breakdown: Includes material and labor costs for transparency.
Binding Agreement: Legally enforceable once signed.
Which One Should You Request?
If you’re in the early stages of planning and want a general idea of costs, an estimate is a good starting point. However, if you’re ready to commit to a contractor and want price certainty, requesting a quote is the best option.
If you’re looking for a detailed quote for your home renovation or addition, SLG Contracting is here to help. Our team provides accurate pricing with transparency so you can plan your project with confidence. Contact us today to get started!
