Choosing the right contractor to manage your home construction or restoration projects is a time-consuming activity. You are going to spend a lot of money and time in ensuring that your project is implemented, so it is important to get things done in the right way. One of the most important considerations is settling for a price range. Studies show that one in every 10 clients get construction bids that are 25% off the estimations of their engineers.
The idea of bidding
Some contractors bid way below what you expected, and this is not always a bad thing. However, you need to step back and evaluate why a bid should be so far below your estimations. Admittedly, a spread of up to 15% would be expected, but there are offers that should trigger the alarm bells in your gut.
So, why do you need to avoid low bidders?
Figures do not lie. You did the Math, and you got a reliable estimate. You may not know the exact cost of the project, but you have a solid idea. This means that the contractor is either wrong or lying. A good percentage of homeowners complain that contractors make an offer but when it is accepted, they start making more demands. The client is forced to pay some additional fee, which now raises the project price to around 5% more than the average put forth by the top bidders. Remember, add-ons are a reality in construction, and unscrupulous contractors use them for leverage.
Cheap rates always have a catch in them
Construction projects are all about the quality of the materials used, and you want yours to make use of top-notch sheets, tiles or concrete in order to increase the lifespan of the property. If the contractor is too cheap, then it means they will use the least-costly materials on your job. By doing that, they do not only rip you off, they proceed to considerably shorten the lifespan of your building.
Low rates hint at a lack of experience
Some contractors are relatively new on the scene and are desperate to land a contract. They will not think through your project, they will just bid low in order to entice you. This miscalculation becomes a disaster somewhere along the way. You end up stuck with someone boasting little experience and even less credibility.
Some bids are hard to turn down because they seem so promising and feasible. However, you need a realistic quote, and you need someone you can trust with such a task. That someone is certainly not going to be the cheapest in the room.