There have been countless local and national news stories about unscrupulous contractors disappearing with homeowner’s deposits, operating without a license, or never completing their work and in most all the situations, the victims were blinded by a low-bid estimate.
Remodelers and contractors often make unrealistically low bids just to get a job… but they can count on your trust and then find plenty of reasons later during the project to increase the price high enough to allow for a profit. When your new kitchen, bathroom or full home remodel is under way, it becomes prohibitively expensive to fire the contractor and start again. The owner has now become a hostage of endless bills, headaches and runs the risk of the project never being completed nor does it result in what they wanted.
When it comes to your home remodeling project, it is extremely tempting to go with the lowest bidder, especially if their price is the only one within your budget. However, one thing you must remember is that just because it is the “best” bid does not mean it is the best value.
If you receive a contractor’s bid that is 15% or more below another bid – it simply isn’t the same project. They are more than likely cutting corners or neglecting important facets of the project and they will make it up later in large monetary change orders, which you will be obligated to pay.
There are many contractors who hide behind low prices. Often times, a low-bidder isn’t licensed or insured and they are hoping if they offer a low price, you will overlook other shortcomings. Remember this fact from this article. An unlicensed or uninsured contractor will expose you to a myriad of personal legal and monetary problems.
If a bid seems to be good to be true, it is. It is easy to be fooled by the low price and a “nice person.” Call at least three of their references and ask if they would hire the contractor again. Then call Pikes Peak Regional Building for their license and be sure to CALL their insurance company to verify their coverage. One of those will probably not align with what you are seeking.
Remember this is your home and your new remodeling project represents one of your major investments you will be living with for years to come.
Professional Remodelers with experience and integrity will provide you with a thoroughly thought-out proposal which will include references, licenses, a comprehensive design, a project management plan, a set of specific details of all materials and work required for the project, and of course, a guaranteed price.