Basement Developments - Huge difference in pricing

[ExtraSlow]

I did a search on this and didn't find anything. If a thread already answers this, please let me know.

Anyway, I'm looking at getting my basement developed. Not looking for discussions of why I should do it myself, or for contractor reccomendations.

What I want to know is, how can two reputable, legal, insured general contractors quote so differently for the same specs? I'm talking a difference of 2x higher.

Finishes and fixutres are identical in both quotes, and are to match the existing on the main level, so I don't feel they are quoting very different materials. Both companies did a site visit and took measurement to verify. Both had a couple of extras as "add-on" on top of the original quotes.

Obviously some contractors will higher higher end trades, and have higher profit margins, but I'd guess that would add up to a few bucks a square foot, not a diffference of say, $50 per quare foot.


Thoughts from those who are in the building trades? Thoughts from those who have had a few quoate for a basement?

[Alterac]

Chances are either one of them doesnt want to do the job, so they jacked the price.

Or the lower priced one has no work for their crew.

[AndyL]

3 more quotes needed... time to see where the middle ground really is.

[ExtraSlow]

I should add, I have three quotes. Two were high, and very similar.
One of the quotes was from a "cost plus" builder, which gives an interesting perspective on the profit margins and price for each peice of the job.

[Sugarphreak]

...

[89coupe]

My builder charged me $37/ sqft if you want some numbers. That's for a fully developed basement, full bathroom, bedroom, HT room and office, 9' ceilings.

[G]

I am in the middle of getting mine developed right now and am totally enjoying the process. I did get 3 quotes (x, y and z). The prices ranged from 48k to 74k. What I noticed is that you get what you pay for.

Did not like x because they pushed monthly payments and their finance options more than what they can do for me. Their 50 page quote was like WTF to me. X was too big and tries too hard to streamline and cookie cutter the whole process.

I really liked y but they where just way too high for what they offered and timeline took too long.

I chose z because he understood what we wanted right away and my son really took a liking to Mr Trent. Also, he did my friend's basement and I really like the work. z just happens to be the lowest priced...but that is about to change....hahaha.

I really like z because he gave me many great ideas of what people did in their basements. Never really pushed any upgrades from our initial plan just optioned things in the quote. I liked the flexibility Trent gave his crew for example the quote included 16 pot lights but we ended up with 28 but we worked out the price with the electrician and will be paying him separately for the extras.

Initial quote was 48k for about 1000 sqft of developed space which includes bedroom with walkin closet, closet in foyer, storage room, washroom, playroom, home gym with gym flooring, media room.

We added a fire place with stone work floor to ceiling, 6 ft dry bar with uppers cabinets and granite counter top. This brought the price up to ~54k (wife picked some backsplash that was $40/sqft and some exotic slab of granite )

Then the media guy came to wire for 7.1. I ended up spending 14k for a full media set up with 80" tv and a 42" in the gym.

Knowing and seeing work done really helped us pick Mr Trent. So far, he has been awesome with his work. He works with the same group of trades for all his jobs so the quality isn't a crap shoot. He is part of the framing crew so he gets his hands dirty too. Also, while framing he said it would be really nice to cut the stairwell wall so that it opens up to the basement. I said great idea and he just did it for free...stuff like that really added a lot of value to me. Time line is pretty spot on. Framing done, plumber in, plumber done, HVAC in and the electrician spent 4 days to finish his part. Inspectors are coming today and drywall next week. We are sound proofing all walls and ceiling. Also liked the fact that payments are divided into 4 stages. There where many nights that wife and I asked do we really need to spend x amount for this for the basement? But we decided that since we are staying for a few more years why not enjoy it and not having a mortgage helps.. So final price should come in under $70k.

Seeing the work is the best way to choose. PM me if you want more info or want to come take a look at the progress I am in the good part of the SW.

more...also included an interior designer to help pick tile, stone, granite, flooring...etc.

When we went to the vendors to pick the fireplace, trim, doors, etc...they where all like oh right Trent said you were coming...and spoke highly of him. This proves that he pays his vendors on time which says a lot as well.

[prosh]

Who are the company's you've gotten quotes from?

We got a quote from Planit Builders and for a complete gut, they came in not at the high but definitely not at the low either.

[G]

Originally posted by prosh
Who are the company's you've gotten quotes from?

We got a quote from Planit Builders and for a complete gut, they came in not at the high but definitely not at the low either.

Planit = X
Wallace and Fleming = Y
Affordable Basement Renos = Z

Mod can edit it out if this isn't okay.

[410440]

Wow crazy money to have someone do this.

I have a smaller basement about 650sqft, but I did it myself for about 5k all in.

[G]

Originally posted by 410440
Wow crazy money to have someone do this.

I have a smaller basement about 650sqft, but I did it myself for about 5k all in.

You can definately tell the difference between a DIY vs a professionally developed basement. I know its cheaper to do it myself but not everyone can swing a hammer.

[prosh]

Originally posted by G


Planit = X
Wallace and Fleming = Y
Affordable Basement Renos = Z

Mod can edit it out if this isn't okay.

Our quotes have come in as such,

Planit came in ~$52k (complete gut, average finishings)
Contractor Y $70k (complete gut, higher end finishings + allowances)
Precision $35k (redevelopment, higher end finishings)

Since our basement was partially developped (1 giant room drywalled up with carpet. We're looking at just adding walls instead of gutting everything given the huge difference in cost.

We're adding a couple walls and moving another couple walls to create a good sized bedroom, walk in closet and a 6'x11' bathroom with heated tile, corner gas fireplace and living space.

[danno]

I did mine my self and hired a carpet installer and taper who worked for beers because he was my moms boyfriend. Being a electrician makes it way cheaper. I think mine was 8k or so. How much are you guys spending on electrical. The most I ever charged for a basement was 2500$ that was about 700sq ft.

[Perfect Dark]

Originally posted by danno
I did mine my self and hired a carpet installer and taper who worked for beers because he was my moms boyfriend. Being a electrician makes it way cheaper. I think mine was 8k or so. How much are you guys spending on electrical. The most I ever charged for a basement was 2500$ that was about 700sq ft.

Being some kind of useful trade really helps out for sure, I'm an electrician as well and I probably saved myself 3-4k by doing the work myself and getting better pricing on my materials.

The contractor doing the rest of the work is a good friend of mine so that keeps the costs down too

[InRich]

I'll develope your basements. i'll give u access to the best contractors in calgary, everything will be done right, with permits and everything for cost +37%

u can come take a look at my basement to see the quality

[prosh]

Originally posted by InRich
I'll develope your basements. i'll give u access to the best contractors in calgary, everything will be done right, with permits and everything for cost +37%

u can come take a look at my basement to see the quality

Wow, cost + 37%, even the high quote I got was cost + 18% and thats thru Willowbrooks sub contractors and pricing. I'd have a hard time spending $100k on a basement reno for 1 bedroom, bathroom, walkin closet and to fix up the living area. Just my opinion.

[InRich]

u wont spend more then 50k
I did my entire basement, 900 sq feet, the highest quality material and labour available. PLUS all the tv, surround sound, seats, bed, frames and everything down there for 51k.

[wtf im nameless]

who do you use for home theatre and automation inrich?

[G]

Originally posted by InRich
u wont spend more then 50k
I did my entire basement, 900 sq feet, the highest quality material and labour available. PLUS all the tv, surround sound, seats, bed, frames and everything down there for 51k.

You probably neglecting the fact that you did not hire yourself to do your basement. Take $51k add your 37% to that....that is what I paid.

I got pretty decent HT stuff too.

Sharp 80" LC80LE844U 3D
Sharp 42" LCD for gym
Denon AVR 2313 receiver
Samsung BluRay BDE5900
Shaw DXC3400
Current Audio WS651 left, right and 2 x center in wall speakers
Current Audio CS501 in ceiling rears x 4
Sunfire HRS 12 sub
URCMX900 remote

[89coupe]

Originally posted by InRich
u wont spend more then 50k
I did my entire basement, 900 sq feet, the highest quality material and labour available. PLUS all the tv, surround sound, seats, bed, frames and everything down there for 51k.

Why haven't you posted here then?

http://forums.beyond.ca/st/348819/po...theatre-setup/