Planning and Budgeting
Wellcore Corporation is one of the very few custom home construction companies in the Greater Toronto area that can supply you with an accurate costs estimate from the moment we start designing your project.
Our company is structured around our customers, including the way we work with the budgets. Our company’s budgeting process is one of the most complete, accurate and efficient systems in the construction industry.
Financial planning and budgeting with Wellcore starts in the early design stage, when we begin to discuss the concept of the future project. Utilizing the decades of the project management experience, our architect is able to provide the estimate of all ideas brought to the table by the homeowners. If anything exceeds your budget expectations, you have the capacity to alter your design right away to avoid unexpected charges down the road. When the drawings are ready, and the project is submitted to the City for building permit, our customers receive the preliminary construction estimate, based on real to-date numbers. Based on our years of experience in design/construction industry, we can say that a preliminary estimate can vary from the actual budget by 5% to 30%. This variance much depends on the price level of chosen finishes, possible upgrades and, in rare cases, unexpected costs like serious drainage issues that need to be dealt with.
Customers often ask us how they can lower the construction budget, and we always suggest several possible solutions. In general, the costs of the project, assuming no significant changes are made to the permit drawings, are flexible by about 30%. The prices can be negotiated for a fixed number of things, such as major utilities jobs and interior finishes and fixtures (flooring, appliances, bathroom fixtures, kitchen fixtures, cabinetry, and electrical fixtures).
We utilize our long-standing connections in the home building industry to work out the best quotes for the sub-contractor jobs. The homeowners can reduce the construction costs by finding the better deals on kitchen appliances or hardwood flooring or tiles. If the price of these items are below the budget costs, we credit the difference to the customer‘s account,
We are proud to provide detailed and accurate budgets without any hidden costs or misleading information. This allows our customers to plan their finances accordingly and lets them go of financial stress.