You have a projects in mind? You want to renovate your home or future home?
You have a plan and you are now ready to get an idea of price, so you get in touch with general contractors.
After visiting your home the contractors will send you how much they think your project will cost. No matter what it says, always calculate more or less 10%-15%, higher or lower, according to their experience with similar projects, they will have done.
It is often the most tempting to choose the lowest price, but often not the wisest.
It is important to look into other factors, as you might get some nasty and unwanted surprises along the way, if you just base your decision on the price.
Here are some tips to help you choose the best quote:
1- Quote Verifications
90% of the time, the lowest Quote you have receive will be missing one or more elements. If you are tempted to pick the lowest price, make sure you revise your quote with each contractors, to make sure you are comparing apples with apple.
2- Breaking it down...
Ask for as much detail breakdown as possible, this way you can see where your money is being spent and more importantly, you can compare between quotes to see if the charges align properly. For example: If one contractor is charging 1000$ for electricity and the other one is charging 4000$, is the cheaper contractor using a licensed and insured electrician for the work. If it seems too good to be true, it probably is...
3- Insurance and License
Always ask your contractor for a proof of insurance and license. These items don't show up on the quote, but they are essential for your peace of mind, in case something goes wrong.
A low quote might come from a contractor who doesn't have a up-to-date license and insurance.
4- Inclusions and Exclusions
A good quote will mention everything that is and isn't included. Make sure you go over those with all contractors. This will eliminate all grey areas after the work has started. A low quote often doesn't have as many inclusions as a quote that is higher and are quite often purposefully vague to win your project.
After the work has started, that's when the extras start to come in and dissatisfaction come along with it.
5- Tailoring your Renovations to your Budget
Tell your contractor from the start what budget you have in mind. Renovations are like cars, you have can buy the car that suits your budget. Renovations are the same. You can get a Mazda or a Mercedes, but this will be reflected in your quote. Make sure you mention it to all contractors who are preparing your quote. They can find the right solutions for the budget you have.
6- Fixed Price versus Hourly Rate
A fixed price quote won't necessarily finish at the initial price agreed upon. The bigger and more complicated project, the more unforeseen circumstances will arise. The contractor can give you an estimation of price, but cannot see through walls, therefore contingency should always be factored into your budget.
An hourly rate contract will allow more room for manoeuvre for unforeseen eventualities.
7- Planning Ahead
Plan ahead and book your contractor well in advance. If your contractor is busy for the next few months, it is good news for you. It means he is in demand and worth waiting for. If someone is available to start tomorrow, ask yourself why.
Do not make your choice of contractor on how quickly they can start.
We hope these tips will help you before you get your project started. But on a last note, in case things go wrong... Make sure you contact all contractors, after you have made your choice, to advise them if they have won or not, as it will come in handy if you need them in the future.
Lineaire General Contractor has made peoples dream renovation project come true for many year and has a team with a vast experience. For a quote on your project, please contact us at: 514-686-0661 or visit our website at: www.lineaireconstruction.com
Good work ain’t cheap, cheap work ain’t good!