Renovations can be great work or a money pit. The estimate decides which.
In this article
- Why it's risky
- Site investigation
- Existing drawings
- Hazardous materials
- Existing systems
- Allowances
- Contingency
- Exclusions and assumptions
- Unit prices
- Know your numbers
- A message to the owner
- Where to start
- Common mistakes
- Presenting the estimate
- Frequently asked questions
- Frequently asked questions
Why it's risky
Older buildings rarely match their drawings. Behind walls and ceilings are outdated wiring, rotted framing, hazardous materials and undocumented changes. Estimating as if it were new construction leads to losses and disputes.
Site investigation
Walk every space, open ceilings where possible and take photos.
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Existing drawings
Ask for any drawings, surveys and past permits.
Hazardous materials
Asbestos and lead surveys before pricing demolition.
Existing systems
MEP systems may not support the new design.
Allowances
Use allowances for known unknowns.
Contingency
Carry contingency appropriate to the risk.
Exclusions and assumptions
Write them clearly.
Unit prices
Unit prices for repairs like rotted framing.
Know your numbers
Compare estimated and actual costs on past renovations.
A message to the owner
"Our price assumes the existing framing is sound. We've included unit prices for repairs, and an allowance for unforeseen electrical upgrades."
Where to start
Create a renovation estimating checklist based on surprises from past jobs.
Common mistakes
No site investigation, vague exclusions and zero contingency.
Presenting the estimate
Walk the owner through the allowances and unit prices. Owners who understand the unknowns from the start accept change orders more easily when the walls are opened.
Run tighter jobs and win the right ones.
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Frequently asked questions
How can contractors protect themselves when estimating old building renovations?
By investigating the site, requesting existing drawings and surveys, using allowances for unknowns, carrying contingency and writing clear exclusions and assumptions.