Don’t jump to sign a contract with the lowest bidder. Do your research. Because what you really should want is someone you can share your home with for the duration of your renovation project. Find out the following…
Does the company have a good reputation in their service area?
Do they have a wealth of happy and repeat clients?
What is their track record on completing projects on time, within budget and issuing change orders?
Is the crew respectful not only of clients and their property, but also of their neighbors?
Does the contractor have a solid team of sub-contractors with whom they work cohesively on a regular basis?
What is their average rate of call-backs for repairs, (i.e. long-term quality of craftsmanship)?
Positive answers to the above are professional virtues that should not be overlooked in favor of a lower price. If you weren’t already aware, you should know that there are contractors out there who will low ball their bid to be awarded the project with every intention of making up their financial loss with multiple change orders. (Another very good reason to have a solid project plan and specifications!)
Consider hiring the contractor with whom you feel you will gladly develop a long-term professional relationship, even if he is not the cheapest. Peace of mind and smiling faces at the end of a project are worth every penny. After all, the lowest bidder may not turn out to be a good financial investment at all.