The BIG Question

Why is there such a big variance between remodeling quotes?

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There are many factors that go into remodeling estimates.
We often hear homeowners mention concerns about huge differences in price from one contractor to another.
Today, we aim to break down many reasons that prices vary so much between different contractors.

The first thing that is important to understand is a somewhat harsh reality.
Not all contractors will do what they say they will do.

There are essentially 4 difference versions of events that may take place when you make a payment to a contractor.

They may take that payment and disappear forever.
They may take that payment, start the project, and pick up and leave before they finish.
They may take that payment, complete your project, but not meet the standards of speed or quality that you were looking to achieve.
They may take that payment, start and complete your project perfectly.
The inconvenient truth is, it's hard to know which direction it will go. One of the main pieces of advice we recommend for avoiding a negative outcome is, always go with a company as opposed to an individual. Companies generally have more to lose when their projects have negative outcomes.

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Now, what about the big variance between companies?

Well, there's a lot that goes into that as well. The first question to consider is, are these contractors performing the same scope?
Often times, contractors will come in to provide an estimate, and they will recommend certain items to perform, or not perform.
This leads to a difference in scope, which will almost always lead to a difference in price.

The next question to consider is, what quality of materials are they providing? Do they work with material allowances? If so, what are their allowances compared to the other contractors? A contractor with 20k in allowances that is 5k more than a contractor with 10k in allowances is actually SAVING you 5k on labor.
Make sure that information is considered.

Another question to consider is, what does their process entail?
Some companies save a lot of cost by having 1 person manage everything. This, however, leaves a lot of room for error and can also lead to an inability to reach somebody in charge when you need them. A company that has somebody for walkthroughs, design, and project management will more likely have somebody skilled who is available to help you when you need them. Those people may also have the expertise to provide options and solve problems that could make you very happy you chose them instead of the "one man show".

Lastly, who will be performing the work?
A company who pays its employees $20 per hour will likely be cheaper than the company that pay its employees $40 per hour, but at what cost? The most affordable tradespeople are typically affordable for a reason. Could there be issues with drugs and theft, or just slow and poor quality workmanship? It is less likely that the highest paid tradespeople will share the same issues.

If there is one thing I'd advise homeowners to take from this article, it's the fact that the lowest price is not always the greatest value. It never hurts to ask a few extra questions to your contractor. After all, it's your project and your money. Never regret what you can prevent.