What to expect when starting a projectPosted: Updated:
What is the typical estimated cost per square foot for basement finishing?
According to the Home Improvement Research Institute, finishing a basement only costs $40 to $75 per square foot. The full basement finishing projects we have done ranged from $28.00 to $55.00 per square foot.
How long will it take?
There are numerous factors involved. We typically take an average of 6 to 10 weeks start to finish. To ensure a shorter completion schedule, we work with our clients in establish their finish choices, i.e. carpet, cabinets, plumbing fixtures, counter top choices, etc.
Should I shop for the best price?
In today's economic environment, the market itself does a good job in protecting you from any excessive profit proposals. Moreover, it is very much the old saying, 'you get what you pay for'. Although the pricing may seem high at first glance, most contractors make less profit percentage than other businesses that do the same type sales and revenue. In general, a contractor after all expenses may make between 2% and 10% pre tax profit. Much of this has to do with how well they bid and manage the project. Beware of bids that come in significantly lower than other competing companies. A bid of more than 10% difference may look like a great price but simply be a forecast of major problems to come.
Pricing is affected by:
- The contractors company's size. Larger is more expensive (more employees) but will generally be faster in completing your basement.
- The company's sub contractors. Does the contractor shop for the best price, and forfeit possible quality?
- The company's insurance requirements. Contractors are required to carry General Liability Insurance. A low bid may mean an under insured company. Your home project is far too important to base a decision on price as the major consideration. Like all things, a home addition, basement finishing or kitchen remodel simply is going to cost a certain amount. Trying to do a $30,000 basement finishing for $20,000 will simply lead to disaster. If you do not have the funding, bring the project down in scope, or wait until you can afford to do the project right.
Why Should I use R&D Construction?
- 100% Customer Satisfaction:
R&D Construction's business model is to provide the highest quality work. We are focused on adding value and enhanced comfort to our client's homes. Many of the basements we have finished have appraised for more than the cost of finishing.
- Fair and Accurate Job Cost Estimates and Contracts:
The common practice amongst Contractors nationwide is to give homeowners a 'low-ball bid' to get their 'foot in the door'; then once a homeowner has signed a contract and work has begun, contractors will charge for 'unexpected situation'.
R&D Construction has NEVER charged a homeowner more than their contract stipulated for the work described. We take great pride in this.
- R&D Construction is recognized for integrity in the business and construction industry. We are active members of:
o Spokane Better Business Bureau
o Spokane Homebuilder's Association
o Washington Building Industry
o National Association of Homebuilders