What is the difference between a swimming pool bid versus V estimate. When you buy a jug of milk or a loaf of bread, the price is clearly marked.Cars and properties, despite negotiable prices, offer the advantage of physical inspection before purchase, ensuring informed decisions.
But when you start a pool building or remodeling project, pricing is a lot harder to come by. It is likely your project has never been built in the same size, finish, circumstances, and location you have in mind. That makes your project entirely unique and custom, which means the cost is, too. Arriving at a cost for a project involves creating plans and specifications, and requires considerable time, thought and sourcing. The more detailed the plans are, the more complex the price.
At its core, the price a contractor provides is an estimate of the labor and materials it will take to complete your project. In swimming pool construction, an “estimate” (also known as a bid) generally is not a firm price.
Estimates and bids are only as accurate as the information they are based on. An inaccurate estimate might rely on square-foot pricing, a pricing range, or a typical cost for similar projects, for example. The outcome won’t reveal the exact cost, but it will indicate if your cost expectations generally match the probable price.
This level of accuracy also means that you’re likely to get a wide range of estimated costs when you consult with multiple contractors, as each will have a different interpretation of what you have in mind and a different way of creating a ballpark estimate.
Using a car analogy, the Honda, BMW, and Porsche are similar in size and weight, but their prices vary significantly.
For the highest level of accuracy in your estimate, engineering must be completed and reflected in a construction plan; all finishes should be selected; and all bids should be secured from all the subcontractors. The ultimate estimate itemizes various costs for materials, labor, and subcontractors, revealing the fee sources and their cumulative impact. Due to the time-consuming nature, contractors often offer this estimating service after being hired for the project.
When a contractor uses this estimate as a basis for a pools construction contract, it is usually called a time and materials or cost-plus contract. The “plus” in the estimate is a contractor’s fee, added to project costs, covering overhead expenses and additional charges.
Pool Bid:
The alternative to an estimate is a bid, which means the contractor or subcontractor agrees to complete a specific scope of work for a firm price. If it costs less to finish the work, the contractor makes more money. If it costs more, the contractor could make less profit or even lose money on the job.
A bid typically means you see a bottom-line cost for the project with a payment schedule based on either time or milestones. The outcome won’t reveal the exact cost, but it will indicate if your cost expectations generally match the probable price. On complex projects, bids may include categorized costs like mechanical, engineering, finishes, etc., revealing the contractor’s fee alongside them.
For the bid to be meaningful, it needs to be tied to clear specifications and plans, the same documentation you would also look for in a time and materials contract. It would also clearly state any allowances included in the bid. Allowances are dollar amounts allocated for specific finishes — either materials or labor, or both that have not been selected yet.
A bid contract’s firm price can change due to work variations from the specified plans through change orders.The level of detail required for a bid means that a firm price is usually not possible early in the planning process. The extensive details and subcontractor time for large bids can lead contractors to charge fees or delay bidding until hired.
Of course, every contractor has a different method and means for a providing swimming pool bid V estimate, and some will provide one without charge however other may charge a fee. This complicates homeowner decisions when considering multiple contractors, as each may have distinct policies, adding complexity to the process. Understanding estimation language and processes simplifies initial project cost exploration, easing the first steps in the process.
Contact Downunda Pools Today for more detailed information on swimming pool design and bidding.
