Renovation Estimate Template

Remodel vs. Renovation

In the design and construction fields, the word remodel and renovate have distinctly different meanings. Though the words are sometimes used interchangeably, a remodel tends to involve the alteration of structure and use of available space while a renovation will focus almost exclusively on cosmetic changes and improvements. Because a remodel and a renovation can share many of the same types of improvements, the distinction is not always clear and there is often some overlap.

What to Include in a Renovation Estimate

For any estimate, starting with general information and working toward more specific details makes for an intuitive layout. The following are some things that can be included with general information:

Scope of Work

Renovation is a broad term that covers a wide range of possibilities from the sprucing up of a single room to a complete home makeover. A renovation project can take just days or might last for months and can cost anywhere from a few thousand to hundreds of thousands of dollars. A renovation can mean many things. Therefore, a concise description of the scope of work is important. This helps to avoid miscommunication and subsequent disagreement between contractor and client and it helps to ensure profitability for the contractor or company doing the renovation.

Line Items and Associated Costs

Once the scope of work has been established, the overall cost can be determined by listing each of the items or tasks required to complete the job along with their individual costs. The length and detail of the list will vary depending on the complexity of the job. A simple living room renovation might only include the following:

• Minor drywall repair
• Crown molding
• Baseboards
• Paint
• Labor
• Total cost

Payment Terms

For smaller jobs that don’t require much capital outlay to start or complete, payment upon completion may suffice. If a job is bigger and it requires significant upfront expenditures for material purchases or labor costs, it may be necessary to require deposits in addition to payments on a specified schedule. Whatever the arrangement, it should be clearly spelled out in the estimate.

Notes

Notes can be useful for including information about warranties, for listing anything that is specifically being excluded from the work, and for identifying anything extraordinary or unusual about the work that should be recorded.

Renovation Estimate Cost Considerations

Every renovation job is unique and will pose particular challenges for the renovator. However, there are some issues that frequently pop up and can have potentially significant impacts on the total price of a job.

Removing Hazardous Materials

For projects of any size, hazardous materials like lead and asbestos need to be identified and mitigated. Specialized crews may be hired to perform certain tasks and their cost will be passed on to the customer by including them in the estimate.

Permits, Building Codes, and Engineering

Familiarity with building codes and basic structural engineering is helpful when creating an estimate for a renovation. Knowing when to involve the local building department and when to call in an engineer can save the contractor headaches and exposure to liability down the line. Perhaps a customer wants to open up their floor plan by removing a wall that separates the kitchen and living room. Simple enough. However, if the wall is load bearing and nothing is done to properly distribute the load in the wall’s absence, an unsafe condition will exist.

How to Use the Renovation Estimate Template

To use the renovation estimate template, simply download and fill out or use our free generator.