Home Renovation and Home Building Consultations
If you want to understand the realistic cost (versus a slapped together, taken out of thin air cost that many General Contractors are well known for) of your prospective renovation, home addition, or home building project before committing much time (and any money), you have come to the right place!
What is a Renovation Consultation?
BVM Contracting Renovation Consultations and the Value of Rough Order of Magnitude Budget Pricing
Don't have a design yet but want to know the cost to complete a renovation or home build at your home or investment property? Are you about to buy a new home that is in need of renovations but don’t know what the renovation cost will be? No problem!
Learn about Rough Order of Magnitude (ROM) renovation budget pricing at BVM Contracting below (otherwise known as our Renovation Consultation Service). Learn how this method of budgeting can benefit you (as a homeowner, landlord, or investor) and your clients (as a Real Estate Agent, Mortgage Broker, or Designer/Architect) in the Greater Toronto Area housing market.
What is Rough Order of Magnitude (ROM) HOME Renovation Budget Pricing?
In simplified terms BVM Contracting has created a process that allows us to cost out renovations, home additions, and new home construction projects before there is a design or final building permits available. We can do so with a high degree of accuracy, with our dedicated and in-house estimating team ready to answer any questions about your renovation or home building project!
We are able to give pricing before drawings are available by completing the following four activities:
We review the available property information (floor plans, home inspections, photos, Google Map View, etc.) to gather as much data about the property as we can. This helps us in our estimation process for home renovations and home additions, but is usually skipped for new home building projects because the footprint is completely new. For Garden Suites and Laneway Suites, we still need to analyze the existing home to determine the best way to tie-in utilities.
We schedule a call or in-person meeting so we can drill down into the scope of work. Would you like to install radiant floor heating? What type of kitchen would you like to install? Do you want pot lights in all of your bedrooms? All of these questions will be answered and will help us get an accurate budget for your project.
With our database of recently completed projects, from legal basement apartment renovations all the way up to 5000 square foot new home construction projects, we will be able to give accurate pricing based on previous projects with a similar scope of work.
Having great relationships with sub-contractors, vendors, and material suppliers allows us to make quick contact with industry professionals that can help determine the realistic costs of their specific activity in the scope of work.
Whether the proposed renovations are a legal basement apartment renovation, home addition or extension, or new home construction, all of these types of renovations and everything in between can be priced using this method.
In which scenarios would a Rough order of magnitude Budget or Renovation Consultation be completed?
We think the simple answer is “every time!” but lets dive into this question a bit further.
There are many ways that ROM budget pricing adds value to a home renovation process, even before the design of the proposed home renovation is underway. If you are a smart homeowner/landlord/architect/designer (which you are if you are reading this) you understand that it is unwise to design a renovation that you or your client can’t afford.
Unfortunately we have seen this scenario happen time and time again, where the homeowner designs a home renovation, home addition or home extension, or new home construction with no input from a General Contractor or Home Builder. This leads to a scenario where the home owner has a set of drawings that may be $50 000, $100 000, or more over their budget. This not fair to the client because when they tender out the design to local General Contractors and Home Builders the price is too high and the following decisions have to be made:
They pick the lowest quote and hope that the company can actually follow-through with the work (not a high-percentage strategy)
Have to get the home redesigned to accommodate their budget, which will cost extra money.
Have to wait to build or renovate the home until they can afford it, which might be 1-2 years or even 5-10 years down the road.
Have to wait to complete certain portions of the renovation scope (i.e. not finishing the basement).
Have to lower the quality of their finishes (IKEA versus custom cabinetry, vinyl versus hardwood).
In order to avoid this scenario, and to ensure that a home owner has a complete understanding of the cost of their proposed scope, ROM renovation budget pricing is used. BVM Contracting has used this concept in the following areas:
A client would like a renovation consultation at their primary residence or investment property to determine what the cost of a certain type of renovation is.
A client is looking to buy a property (either as an investment pr primary residence) and would like some input into the cost of renovations to update the home. This allows the client to properly budget the renovation in with the cost of the mortgage/home price so that they have room to complete the renovations once they take possession of the home. BVM Contracting would be able to work with the clients (with no commitments or strings attached) to get them a realistic budget for their proposed work
A client has just started with preliminary designs for their proposed home renovation or new new construction project and would like to get some input about the cost before submitting the plans for getting building permits. BVM Contracting has helped hundreds of clients at this stage in getting an accurate budget for their project before making any further of an investment into the project. This allows clients to make adjustments to the design before it is too late to change the design without getting hit with large redesign fees.
WHat is the cost to complete these Renovation Consultations and ROM Budgeting for (Your) clients?
The cost of this service is no charge. We firmly believe that if we put our best foot forward and help as many people through their home renovation or home building decision-making process that we will be rewarded with trusting and happy future clients. Whether it is this year or five years down the road, our process allows you to understand the true costs of your renovation, home addition, or new home build before sinking too much money into the process. Our goal is to keep home owners in the driver’s seat, you are looking to invest a lot of money so we understand that having control over the wheel is important in building trust.
Conclusion
This concept is very simple but very powerful; get to know the renovation or home building costs for your proposed scope of work before you make the investment in the design and submission of building permits. Let BVM Contracting help you on your home renovation, home addition, or new home construction journey! Start the conversation today!
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, 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.