When it comes to home improvements, some of us are all thumbs. Even the best intentions and most valiant efforts can fall short, and a professional is needed to get the job done right. If you decide to hire a contactor for your renovation project, you need to know how to spot an honest home improvement estimate.

The most important thing to remember about a home improvement estimate is that it is, in fact, an "estimate". The prices given to you may vary in one way or the other, and no price is set in stone. That said, you'll seek a home improvement estimate when you're just not sure how much it will cost for a home repair or renovation job.

An experienced contractor can give you a "ballpark figure", providing an idea of the total cost of your project. Having a home improvement estimate is a great way to figure out how much money you'll need to spend, before you dig in and start working.

Careful Calculations

Your contractor will use the dimensions of your home to determine the cost of the project. No reputable contractor will give an estimate "sight unseen", so be wary of anyone who offers a price before visiting the property, inspecting the area and taking dimensions.

Once this information has been gathered, you'll work with the contractor to determine the materials required to complete the job. The contractor will explain his or her markup system, and compare the job to regional pricing. All of these steps will contribute to the final calculation, your home improvement estimate.

Pricing Your Materials

Contractors base their material costs on information gathered from researchers. These figures are based on compiled costs gathered from hundreds of different lumberyards throughout the United States. Similarly, researchers will compile labor costs by tracking the labor trends and collecting certain data from professional remodeling contractors. Make sure that the contractor you choose has access to this information, and uses it in his or her calculations.

Costs, fees and prices are gathered from different sources and areas, and used to determine your home improvement estimate. Each job is unique, so these costs should reflect the price of your specific project. Your contractor will take other factors into account, such as your residential area, to calculate a truer estimate. Be as helpful as possible. The closer the estimate is to actual costs, the easier it will be to get the job done.

The information that you share with your contractor will be used to determine your home improvement estimate. This can be a good indication of what the project will cost but, remember, the actual price may vary just a little bit.

As the work progresses, your contractor will be able to make more accurate measurements and provide additional details. The actual price that you pay upon completion may be more or less, depending on these additional factors. There are also unforeseen elements, such as scheduling conflicts, poor weather and uneven terrain that can also affect the final price.

It's important to use current material prices when calculating your home improvement estimate. Use the prices that you would pay if you were to purchase the materials at your local building centre. If you contractor offers to provide materials at a discounted or bulk price, it's like getting a little bonus when the job is complete.

If you insist on certain products for their quality and style, however, you'll know exactly what you're getting. Those materials purchased at a reduced contractor's rate may not offer the same guarantee. The extra money is often worth added satisfaction and peace of mind.

Do not agree to hire a contractor until you've received a written home improvement estimate. If the price is higher than you can pay, go ahead and haggle until you've agreed on a price that makes you both happy.