When it comes to planning for your home remodel, one of the first, most important steps is setting the scope and budget for your project. In order to do that, you need to talk to a couple of remodeling contractors and/or design-build firms in your area to get an estimate, quote, or proposal.

But what’s the difference between those three options, and which will give you the best understanding of your project’s cost? 

Below, we’ll discuss what you need to know about the differences between an estimate, a quote, and a proposal, so you have a better idea of what will best set your remodeling project (and your wallet!) up for success. 

Estimate vs. Quote vs. Proposal: What’s the Difference?

The main goal of estimates, quotes, and proposals is similar: to figure out how much your remodeling project will cost. However, each of these options has some subtle, yet important differences — especially in terms of time, specificity, and cost. 

Estimates — Pros and Cons

A remodeling estimate is the most basic type of assessment. Think broad ranges and general numbers. It’ll give you a fast and ballpark understanding of your project cost, rather than a careful and accurate one. 

Pros:  They’re usually free, and they’re usually fast. Since they’re not very thorough or detailed, you’ll probably have an estimate back to you in just a day or two — in fact for smaller projects —some contractors might even be able to answer your request immediately. 

Cons:  However, the benefit of a quick turnaround does come with some negative consequences, including: 

• Less accuracy - It’s called an estimate for a reason. The cost listed is likely either a broad range, or it’s on the lower end of what you’ll really end up paying. Most times, you’ll end up spending more than the estimated cost once your project is underway because the contractor really hasn't invested the time to fully understand the project scope.

• Less opportunity to vet the contractor - While an estimate might be a good way to assess a contractor right off the bat, it’s not going to give you much of an understanding of their work. 

• No feasibility for large remodels - For a large remodel job, you’re unlikely to even get an estimate from a reputable contractor. They know it’s impossible to come up with anything close to a realistic estimate until they have a thorough understanding of your home and what you want to do with it. 

• No design consultation included - In most cases, nothing is included within an estimate except for the estimate itself. You’re missing out on useful information and recommendations from design experts. 

Quotes — Pros and Cons

A remodeling quote is a more in-depth assessment of what you’re specifically looking for and what it’s likely going to cost. It will take more detailed factors like the size of your home and your remodeling plan into consideration. 

Pros:  Since remodeling quotes are a bit more comprehensive than estimates, you’ll get the following benefits from them: 

• More accurate numbers and timelines - A quote requires a contractor to at least come out and look at your home, which will usually result in a much better initial price range, even though it will still be somewhat of a loose ballpark number. It will also give your contractor, and you, a more concrete idea of how long your project will take. 

• More personalization - A quote will give you a better idea of cost based on the price range of your specific needs and wants. 

• Feasible for large remodels - For a large remodel, this is probably your first best option anyway, since many reputable contractors can’t comfortably give an estimate until they see your home. 

Cons:  Although quotes can give you a bit better understanding on the cost of your remodeling project, there are still a few ways they fall short of the comprehensive information you need to make the most informed decision. Here’s how:

• No concrete information - With a quote, you’re still not going to get a concrete idea for timeline and project cost. With any large remodel project, until the design is set, the finishes selected and any issues with the existing structure identified, it is difficult for any contractor to stick to a quoted timeline and price. More often than not, you’ll finish the project spending more than you originally anticipated with a longer construction timeline.

• No design consultation included - Similar to estimates, usually nothing is included within a quote except for the quote itself. You’re missing out on useful information and recommendations that result from actually spending time discussing your goals with a designer or experienced remodeling expert. These recommendations could save you money and headaches in the long run.

Proposals — Pros and Cons

A remodeling proposal, or bid, is the most comprehensive type of assessment. It will serve as the most reliable, true foundation for your project. 

Pros:  We’ve found proposals to be, by far, the best way to get an accurate cost for your remodeling project. It’s an important step in Meadowlark's design-build process because it offers our clients the following benefits: 

• Concrete budget and timeline - Because of the amount of time and research put into creating a proposal, it will give you the most accurate timeline and cost forecast for your project. The goal is to have fewer surprises and financial stressors come about once the project is underway. 

• Design consultation included - Someone comes to your house, physically analyzes your space, and talks to you about your goals and concerns for the project. Then, they take that information and deliver design recommendations or concepts for you to start with. The beauty of an experienced designer is that they often present options that you didn't even think were possible.  

• Clear and complete communication about project logistics - The proposal includes everything you need to understand how the project will go, and what is required from you to complete it. It keeps you and the contractor on the same page. 

Cons:  The only drawbacks of proposals? They’ll take a little more time, and they’ll cost you a little more money. Your contractor or design-build firm needs to understand your home's structural requirements, gather costs, create a timeline, and develop concepts — none of which can be done in a day’s time, and since you are using trained and experienced professionals, they will also require a fee for their expertise. 

But while you may be paying a bit more for a proposal than the other two options, you should remember that you’re essentially receiving a tailored-to-you roadmap for your remodel that outlines cost at the very start of your project. It’s a huge benefit that streamlines the remodeling process, taking some of the work off your plate and ensuring you’re satisfied with the end result. 

Proposals are our preferred form of forecasting project costs at Meadowlark. Usually, our proposal process goes like this: 

1. You come to us with your remodeling project in mind, then we send our design team to your home so they can look at the space and learn more about what you hope to achieve with this remodel. 

2. After that, we’ll both sign a Preliminary Planning Agreement (PPA) and you’ll put down a design deposit, which pays for our work in delivering two things: 1). Two to three design concepts based on what your goals for the space, and 2). A project budget for each concept.

Estimate vs. Quote vs. Proposal: Which Is Right for Your Project? 

So, between estimates, quotes, and proposals, which one is right for you? Well, it depends on your project. 

If you’re just swapping out cabinetry in the kitchen, or looking to add new flooring, a free estimate might be right for you. But if you’re planning any kind of significant remodel, where you’re changing layout or reconfiguring multiple elements, you should at least start vetting contractors by asking for a quote. 

At Meadowlark, we encourage our potential clients to shop around and request a few quotes from builders and remodelers they feel might fit their project. Once they compare initial quotes, many will pick their top two options, then request a full proposal from that point. This is particularly well-suited for large-scale projects like whole-home remodels. 

If you’re planning to take on a large remodeling project, you don’t want any surprises. Getting a full proposal helps you guarantee that you’re on the same page with your remodeling contractor, you like your design direction, and you have a solid understanding of the cost and timeline associated with it. 

Looking to get your remodeling project rolling? Contact Meadowlark Design + Build. We’ll get started by listening to your project goals and expectations, then delivering a comprehensive and accurate proposal for you to review. We’re all about client satisfaction, and we’ll work with you to deliver a refreshed home you love, without stressing about what it may end up costing.