What Exactly is an Opinion of Probable Cost?

In remodeling, an opinion of probable cost is a professional estimate of the likely cost of a project provided during the project’s early stages. An opinion of probable cost, or OPC, or OPPC, is used to help clients understand the project’s cost implications and to make informed decisions thereafter.

The important details of an OPC is that it is a pre-construction document, it is freely viewable by all participants in the process, can have different levels of detail, and, most importantly, is not a set-in-stone warranty of the final cost of the project, only an estimate.

What does “probable cost” even mean?

As an estimate, an opinion of probable cost is not to be taken as the definite end-figure of a project’s cost. “Probable cost” means simply that: that this document contains a probable cost for the project in total. This is because of course any number of things can happen during a remodeling project that can either increase, or decrease, the budget. Examples include rising and lowering costs of materials, unforeseen repairs that have to be made, an expanded project scope, etc.

What makes Reliable’s OPC different?

Reliable’s Opinion of Probable Cost document is a very important part of our client intake process. Our OPC is our opinion of the value of investment for the type of project our clients are wanting built. When we get to the stage where we are sending you an OPC, we’ve already had conversations and talked about your project in-depth, and after providing preliminary bracket estimates, so the OPC is our best approximation of what the budget of your project should end up being. There are several caveats however, like the fact that the figures in an OPC should not be taken as gospel, much less contractual or enforceable.