Learn More About Our Procurement-Based Budgeting Process
At BVM Contracting we understand that home renovation, custom home building, and home addition projects are expensive and require a lot of capital to complete. Many times when you are working with General Contractors in Toronto, they will help you estimate the cost of your project but won’t go so far as to finalize everything with their preferred list of vendors and subcontractors before a contract is signed. This leads to underestimations and unmet expectations about total project costs.
As a Family-run General Contractor in Toronto, the last thing we want is to start a project that cannot be finished. This does not benefit our clients and does not lead to a good reputation in the industry. In the sections below we outline our budgeting process and how we take the extra steps needed BEFORE any contracts are signed to give our clients the peace of mind to work with us and complete their project on time and on budget.
What is procurement-based budgeting?
Procurement-based budgeting is a term that we use to describe how we finalize our renovation or custom home building budgets. It is a multi-step process that includes:
Developing a detailed scope of work from working drawings that describes the construction work that will be completed. This is an itemized description of our activities to complete a project from beginning to end (or beginning to whenever a client takes over). This requires the client to have a set of designs/drawings that outline the work to be completed.
Coordinating a site visit to the project site (mostly for renovation and home addition projects, new home construction projects don’t need site visits most times unless there are environmental factors (ravine protection, tree protection, shoring) that may be needed)
Working with our subcontractors and vendors to finalize selections within the scope of work to get our clients the most accurate budget with finalized quotes from all of our subcontractors and vendors. This requires some legwork from our clients to decide on certain selections for a project (i.e. plumbing fixtures, doors selections, flooring, etc.) but pays off in the end with a finalized budget with a representative cost. Even if the selections are changed as the project moves along, at least the pricing is based on something instead of nothing.
Our goal with every project we budget is to have as many of the line items with what we call “confirmed pricing” before signing any contract. We do this so we can show you our capabilities as a General Contractor and to also ensure that we can reduce the amount of extras and change orders needed throughout the course of the residential construction project. Whether it is a $200 000 renovation or a 1.6 million dollar custom home build, the same process applies and leads to a lot of happy clients.
Conclusion
Although our final budgets will take longer to put together and will likely cost more than other General Contractors in Toronto, at least you will know that it is representative to the total cost of the project, and will know exactly what you are getting. We take a lot of pride in our reputation as a Custom Home Builder and Home Renovation company in Toronto, so we would rather lose out on work because it is accurate than win work because the pricing is not finalized.
About BVM COntracting
BVM Contracting is a full-service General Contractor or Home Builder located in Toronto. We provide home renovation and building services for major home renovations (kitchen renovations, bathroom renovations, basement renovations, full interior renovations, home additions, lot severances, and new home construction). Our goal is to help guide our clients through the process of renovating their home, from concept to completion.
Further than providing General Contracting and Project Management for major home renovations, we also offer value-added services such as renovation financing, renovation rebate consultations and services, building permit and design services, smart home installation services, and real estate investor services.
To learn more about our offering by visiting our services page.