You’re planning for a home remodel, and you’re starting to get excited! It might be your kitchen, your basement, a whole floor, or even just a single bathroom, but you’ve got a pretty good handle on what you want, from the materials to the colors to the timeline, and you’re ready to start budgeting and looking for a contractor to do the work.
So, you send out your queries and the quotes come back, and then the lowest bid wins—right?
Well, not so fast.
Sometimes the best bid, and the best value on the table, isn’t the lowest offer. Here’s why:
1. Unusually Low Bids Might Not Be Accurate, or Honest
Some contractors will intentionally toss out lowball bids as a negotiating strategy to get you roped in. These quotes will often omit specific details regarding materials and work needed, as well as explanations and on-site consultations.
According to a 2007 Wall Street Journal Article, “Construction firms often make unrealistically low bids to get jobs… but they can count on finding plenty of reasons later to jack the price up enough to allow for a profit. When the building is underway, it becomes prohibitively expensive to fire the contractor and start anew. The owner has become a hostage.”
If your contractor doesn’t put in the time to give you a complete and detailed estimate up-front, there’s good reason to think that their goal posts are going to move as soon as you start working with them.
2. You Get What You Pay For
To stay in business, all contractors have to make a profit. So, if you receive a number of quotes and one is 15-20% lower than the others, it might mean that that team is going to be rushing the work, cutting corners, using low-quality labor, or playing games to make up the difference in cost.
Craftsmanship takes time, so invest in a team of professionals who will do the job right and give it the time it deserves.
3. They May Have Left Something Out
Compare the bids carefully. It’s sometimes possible one bidder has left out a portion of the project intentionally or unintentionally. This will lower the cost, true, but you’ll be in for an unpleasant surprise later on when you realize that your project won’t be finished when your contractor is finished with it.
4. The Bidder Might Not Be Legitimate
Sometimes low bidders aren’t licensed or insured contractors at all. Instead, they’re working under the table, using low prices to turn projects around quickly without properly permitting the work or doing their due diligence, and that can lead to big problems for you if someone is hurt, if they walk away from the job with your deposit before it’s finished, if they do poor quality work, or if your less-than-legal project is eventually found out in the future.
These “contractors” leave a black mark on the industry. Make sure that your chosen business is properly licensed, insured, and committed to high-quality craftsmanship.
Work with Your Local Fort Collins Home Remodeling Experts-
If you’ve been seriously considering moving forward with a home remodeling project, it’s important to take the time to find a contractor you can trust, and with the reviews and references to back up their past performance.
So, we hope this blog helps you to understand why the lowest bid might not be the right way to go. At Artisan Remodeling & Design, we work hard every day to be just that kind of contractor.
When we provide a bid, it is 100% all-inclusive – the price you see is the price you’ll pay. No surprise billings! Additionally, we are licensed, insured, and take our work and reputation very seriously. When you hire us, you’re choosing a company that puts quality, integrity, and communication above all else. Check out our portfolio of recent jobs to see what we can do for you!