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Analyzing Quotes from Your Home Builder
In any home building plans, getting quotes from contractors is one of the very first steps. It is therefore important that the homeowner knows how to analyze the bid of a contractor. In most cases, homeowners think that the price set by a contractor is way too high. Before jumping into conclusions, take the following facts into consideration:
- Any home builder uses tools, equipment, and vehicle in order to get the job done. These items need constant maintenance and replacement so they could perform well. Also, a contractor needs a place for the business. All of these things have cost. There are also contractors who provide free estimate. The time spent to do such task incurs opportunity cost as well.
- While operating, a business entails payments and other necessary costs like insurance, permits, and the like. In order to gain enough profit, home builders pass these costs on to the clients.
- Lastly, the materials needed for the home repair do not come for free, they have to be purchased. Some materials can be costly especially if you prefer those of the highest quality. If you want to have an idea on how much an item costs, you can go to the retail shop yourself. In doing so, you can rest assured that you are paying the right price. Though the home builder has the advantage of a professional discount, the small amount will not greatly affect the cost of the item.
You may want your contractor to be in the market for a couple more months after your transaction so that he would be around in case anything goes wrong. In order to get the business going, your home builder definitely needs some profit.
If you want to have an idea on the average amount of your needed repair, it would be wise to consult different contractors. You can get a list of eligible contractors from your distributor.
Getting contractors to show up is as difficult as choosing the right one, sometimes even harder. It would be a good idea to offer incentives for contractors willing to provide written estimates. A good $50 should be enough motivation.