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Does My Build Price Change?

The Pricing Journey Funnel

The Pricing Journey

The cost of your project is always evolving. The initial budget is based on several assumptions from conversations with you and our experience with similar projects. Those assumptions are worked through during design, a buildability review, and final estimating.

Picture the pricing journey as a funnel. There is a lot of uncertainty and grey area when we start. Through the process, we get a more focused grasp of the exact scope of work and selection of materials. The result is providing a more accurate price moving into the Build phase.

The Pricing Journey Funnel

How Do You Come Up with the Initial Price Range?

The initial price range results from an assumed scope of work that we present in a Good, Better, Best format (sometimes referred to as the “G.B.B.”). Good, Better, and Best range is solely based on material selections. The price range does not include differences in the assumed scope of work. 

How Does the Good, Better, and Best Initial Range Factor into my Final Price?

The initial range is the best guess of where the pricing will land, but it is not your final build price. The Good, Better, Best range guides our team to understand the scope of work and materials that will go into your project. As you work with our designers, the best solution for you may include layout changes or materials that fall outside the initial price range. 

Our team will provide budget updates with the most current information available. Still, the price range always evolves and will change until we determine the final price after estimating is complete.

What Causes Price Change During Design, Build Review, and Estimating? 

During Design, the price range changes come from the smallest details up to the large scope of work changes. 

Small details include things like the square footage of tile or countertops. Our Project Developer assumes how much we will need on the front end, but until the final layout and material selections, the countertop and tile price are just a guess.

Larger scope changes include things that involve more than one trade to achieve. We determine these as something we can no longer buy from one supplier or have one trade partner complete. Since we charge by the number of weeks we are on the project, these scope of work changes add more than just materials and labor to your price. 

An example is changing from a standard vanity mirror to a custom-sized, backlit mirror. It may seem small, but we have to get an electrician to run wires, framers to provide blocking, a trim team to create a panel that can raise the mirror off the wall, and mount the vanity twice so the mirror team can get their installation precise. Not only does it require multiple trades, but it adds more time to the project.

During the Design phase, the Build Review is a point where our Build team compares the plans to the scope of work. The Build team reviews how to build what is on the plans from a 30,000-foot view and reviews if the given scope of work will cover what the plans are detailing. The price range will change if we find a portion of the scope of work missing, the budget for a given scope of work does not appear large enough, or build details need to be added to achieve your design plans.

The final build price is determined during Estimating, where we move from the 30,000-foot view to the granular view. Final estimating begins after all layouts and materials are finalized. The Estimator will come to your home with your Designer to thoroughly review your Final Design Plans compared to the physical space. The Estimator will put redline notes on your plans that they can more intimately discuss with the Trade Partners and your Project Manager. After that meeting, the Estimator will meet the Trade Partners at a Trade Walk. Each Trade Partner is focused on their specific task and may find details we did not catch during a more general review. The Estimator will take the final information and trade partner quotes and put them into your final build price.

Will You Update Me on Pricing Along the Way?

Our team provides weekly snapshots of your current price range with the most updated information that we have available. Some suppliers and vendors take time to get pricing back to us, so the updates are not 100% accurate, but they are the best we can provide at any given time. 

Will My Final Build Price Change?

Outside of homeowner-requested change orders, we have an extremely good track record of sticking to the final build price. 

We go into each project with a Contingency Fund. The Contingency Fund is a bucket of money that is part of your contract and used toward items we cannot reasonably plan for or see. Items could be rotten subfloor, hidden pipes in the wall, and price escalation for materials, to name a few. Your Project Manager will notify you if something comes up and we need to pull from the contingency fund. The unused contingency funds will be credited against the final draw.