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One of the first items any future homeowner needs to start considering if they want to build a custom home is getting a quote, estimate, or preliminary budget. But what is included in your quote or estimate will depend on the builder and the process they implement. As experienced builders in Edmonton, we have put together a couple of items that we think every homeowner and investor should understand and that should be included in your custom home estimate.

For Edmonton custom home builders to keep a steady flow of work, they need to provide clients with competitive, detailed, and transparent estimates to build their dream homes. It is important to understand the difference between a quote, an estimate, and a construction budget.

Quote Vs. Estimate Vs. Construction Budget

A quote usually refers to a fixed price that generally does not change once it is accepted by the customer. Nonetheless, custom building, providing a fixed price might not be possible until you have all your selections done and the correct set of drawings to price your whole project. An estimate is a non-binding approximate of the cost of your project. If you have a pretty good idea of the location you want your new custom home to have or if you already have your lot and a general sense of the style, materials, and details you want to have in your new custom home, based on previous recent projects, your Edmonton builder should be able to give you an estimate for your project.

Your construction budget is the final agreement you will make with your builder. This will include every step and item needed to build your home, from design and permitting to completion, and it is essential that you find a transparent and organized builder that allows you to have access and keep track of your construction budget to avoid any setback. At Edmonton Custom Home Builders, we manage all our construction process through Co-Construct, this online construction software allows our clients to track their budgets, schedules, and progress in real life. Learn more about it in our article What is CoConstruct and How does It impact Your Custom Home Building Experience?

Scope of work and pricing

While comparing estimates from several home builders in Edmonton, you need to know that the price might not be the only variable to consider. Quotes and estimates may vary in the way the building process is broken down, the size of the custom home building company, the experience, and procedures of each builder, the quality of the drawings, the specifications, and materials each of the builder usually selects. Make sure that your home builder explains and includes as many details about their process as possible. An excellent way to help your builder understand the scope of work of your project is by creating a wishlist.

Quality of your Building Materials

Your Edmonton home builder should be able to provide you with detailed information about the quality of the materials that will be used when building your dream home. At Edmonton Custom Home Builders, one of the key elements of our process is green building. For us, it is essential to use quality building materials within the Built Green Program. Learn more about making your home greener here. When your Edmonton builder has a set of final drawings for your project, they will be able to prepare a more accurate estimate of the cost of your project's materials.

Process and Timelines

Having a clear idea of the ideal or approximate amount of time your building project will take, and also, the duration of each phase of the building process becomes essential when comparing builders and comparing estimates. Having completion times per stage will help you plan and work on your selections and to be aware of your project's progress, which will help you obtain your final construction budget.

Ready to build your dream home in Edmonton? Contact Edmonton Custom Home Builders today!

We will prepare a summary budget for your new custom home and provide you with more information about our custom homes in Edmonton and the Fort Saskatchewan area!

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Too Long Didn’t Read (TLDR)

When requesting and comparing the possible cost for your new custom home, it is vital to understand the different pricing documents your Edmonton builder can provide you with and the items to look for. Make sure the scope of work covers every detail, that our materials are high quality and durable, and that you understand the process and how to create your final construction budget.