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Estimate, Guestimate, Budget, or ROM

“Hey just give me an estimate”, “If you had to guess what would it cost”.
We’ve heard those before.

And these terms get thrown around freely in the construction world.

We could go ahead and define each one, but unless we standardize them across the industry that doesn’t do us much good.  What means one thing to one contractor may mean something completely different to another.

Estimating construction costsSo let’s approach it from a different angle.

For the sake of this conversation let’s use the term budget.

At Fidelis Builders we want to help you a develop a project that maximizes your budget.  This doesn’t mean driving up costs and delivering a half a** product.  We’ve heard enough of those horror stories in this industry.  This means YOU determine how much you want to spend, YOU determine the finishes you want, and we work with YOU to deliver the best possible product within those parameters.

Want to spend $150,000 on a kitchen we can do that, want to spend $400,000 on a kitchen we can do that too.

But first the details because without those none of the above is possible, and that’s where we come in.

Sure we can look at past projects, and lean on previous experiences, but each and every project is a prototype, unique in its own way.

A good contractor can give you a range that we think your project will land in based on limited details but until we develop those specifics an estimate is just that a rough guess based on limited information.

Let us know what you think about Estimates, Guestimates, Budgets, or ROMs.

And don’t forget to check us out @FidelisBuilt

*What is a ROM in construction?
A rough order of magnitude estimate, also known as ROM, is an estimation of a project’s level of effort and cost to complete. ROM estimates take place early in a project life cycle and guide strategy and planning choices.