5 ENSURE THAT YOU ARE GIVEN A QUOTATION AND NOT JUST AN ESTIMATE BEFORE WORK BEGINS An estimate is an approximate guide to what you can expect to pay. Once you have been given a quotation, this is the amount that a contractor is expecting to be paid for the job. Some estimates will include 'provisional sums' which are used for work the builder has to sub-contract and has not obtained firm estimates for. Make sure you are consulted before a provisional sum is converted into a firm price. 6 HIRING A PROJECT MANAGER IS ALWAYS AN OPTION Remember, if you don't feel up to managing the project and budget yourself, employ an experienced, efficient manager to do the job for you - this will ultimately save you money in the long run. Staying on top of your budget will help you to feel in control of your finances and your entire project. 7 ALWAYS GET THREE QUOTES BEFORE DECIDING WHO TO HIRE FOR THE JOB Be specific and get an itemised quote. You'll be able to see where and how to reduce costs if needed. You'll also be able to think about how much work to outsource, and how much you can do yourself. 10 REVIEW YOUR CALCULATIONS REGULARLY AS THE WORK DEVELOPS 8 DECISIVENESS PAYS OFF. IT'S SIMPLE - DECIDE WHAT YOU WANT TO DO AND HOW MUCH IT WILL COST IN TIME AND MONEY Make up your mind and stick to it. If you are indecisive it could end up being expensive. Decisiveness will allow you to manage the project with efficiency and precision, helping you get clearer quotes and timelines from contractors at the outset and hopefully make the entire process a smooth one. 9 BE CAUTIOUS ABOUT OPTING FOR THE CHEAPEST QUOTE A budget is a working document and something that needs to be monitored throughout the entire process, not just in the planning stage. Keep a detailed track of all costs and make time in your schedule to review so you can ensure that you - and your builders - stay on track. A builder who gives a low quotation may well realise halfway through that it was an unrealistic figure - this is where problems will start to set in and it may even end up with them leaving the job unfinished. A healthier profit margin for the contractor means that they are more likely to be on your job than another. A higher cost may also indicate a higher standard of work - long-term, a professionally run site will mean you spend less. www.athomemagazine.co.uk OCTOBER 2016 | 213http://www.athomemagazine.co.uk