Estimates vs. Quotes

What’s the difference between an estimate and a quotation?

Knowing the difference between an estimate and a quotation, and using the right one at the right time, can protect you from any costly surprises when work commences.

The first thing to understand about estimates and quotes is that they are NOT just two different names for the same thing. Estimates and quotes each have distinct benefits & disadvantages. Knowing these is key to avoiding critical problems that can cost you time, and money.

Let’s take a look at estimates, first..

What is an estimate

An estimate is free and basically a ‘guesstimate’ or rough, educated guess based on what a job MAY cost. Often it is supplied either before you know all the details of the work, or during a site visit.

What is a quotation

A quotation (or quote) is valid for 30 days and is the exact price for the job. As such, it is fixed and CANNOT be changed once it has been accepted by you, the client.

Quotations (or quotes) are normally only issued after a site visit, once the client is confident in the contractor and feels comfortable proceeding. It’s important to understand that quotations are formal documents and represent a contractual agreement between you and the company. As such, they can be relied upon as a legal standpoint for price should a dispute arise.

Follow the link titled “How much will a quote cost me?” to see how much we charge to prepare a quotation.