Quotes

A quote is normally the most expensive option of the five pricing methods however it is also the most popular. A quote is a set price whereby while the final invoice may be lower, it can not be higher than the price quoted. A quote is given using a “worst case scenario” philosophy, and is not necessarily based on a straight forward process of your project. Any extra work added after the quote is presented will be charged accordingly, and is not included as part of a quote.

Estimates

The estimate is not a set price like a quote, and can vary, though it must be no higher than 10-15% of the original estimate. The exception to the rule is the “rough estimate” or “ballpark figure” which is verbal, and can vary with no limits.

Hourly Rates

This option is normally the cheapest, though to pay an hourly rate requires a high element of trust. You will generally gain a fair idea of what a tradesperson can achieve in a given space of time. If you are after the cheapest option, hourly rates are the way to go, but be careful. They might end up costing you more than you ever imagined.

Flat Fee

A price given that is set whereby the work completed from one job to another may be more or less though the price is the same. Flat fees generally apply to small jobs.

Capping

Capping is whereby the customer has a budget. The tradesperson works until the job is completed, or until the budget has run out.