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How To Accurately Estimate Construction Costs Obtain repeat clients and more referrals. Avoid the mistakes that cost YOU money. Mike Otto –Fair and Square Remodeling

Estimating Remodeling Costs

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This presentation will help designers 1) Feel confident about setting construction budgets 2) Avoid re-designing and free designing to get back into a budget 3) Get repeat clients and more referrals 4) Learn how to quickly figure construction budgets and look for the pitfalls that can blow these budgets. This is an interactive presentation so bring your questions

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  • 1. How To Accurately Estimate Construction Costs
    Obtain repeat clients and more referrals.Avoid the mistakes that cost YOU money.
    Mike Otto Fair and Square Remodeling

2. About Me
Been in the building industry all my life
Started own construction company in 1992
Owner Fair and Square Remodeling
Over 17 years of experience in estimating construction costs
3. 4. How To Accurately Estimate Construction Costs
Communicate
Setting a budget
Cost vs. Value Report
When In Doubt
5. What Are the Key Ingredients in Setting a Budget?
Communication
Listening
Listen without your motor running
Ask questions
6. What Are the Key Ingredients in Setting a Budget?
Critical that you understand your clients wants and needs before talking budget
More critical that the client feels you understand them and are communication from a point of understanding
Otherwise you have no credibility
7. Asking about Budget
What kind of answer do you get when you ask What is your budget?
I dont know
Some unrealistic number
8. Asking about Budget
Why do you get these answers?
Your client is not in the position to know the answer
Think like a doctor
9. Asking about Budget
How solid is the budget number?
What if.
10. Cost Versus Value Report
Use the number given as the low end of the range and add 30% to get a high range

  • Watch out for:

- Read the specs, adding more to the job will increase the cost
-Unique complications
11. Cost Versus Value Report
12. Cost Versus Value Report
13. 14. 15. When in Doubt

  • Take photos and send to your contractor

16. Ask him or her if they have any concerns about an area