The Hard Part! Comparing Bids!

This may be the hardest part of the entire process but it is also the one that has the biggest rewards.  After you have received all the information from different home remodeling contractors you are ready to find the one that is best for you!

This is where your initial homework starts to pay off. Each estimate your receive needs to be in writing and it should have a specific scope of work that mirrors the information that you provided them. And in most cases the estimate will have more detail. If the Contractor's estimate is vague and lacking specific details relating to the work, this is a Contractor that you may want to pass on. If you accept an estimate that does not specifically describe the work that the Contractor is proposing to complete, you are leaving yourself open to costly "Change Orders" at the discretion of the Contractor. It's not a good position for you, as a homeowner, to put yourself in. So keep in mind, it's your responsibility as a homeowner to make sure the Contractor has a complete understanding of the work you want completed and it must be conveyed in writing on the estimate.

Once you have established that each estimate is for the same scope of work, let's now look at each price. When it comes to remodeling, the saying "You get what you pay for" is a good guideline but it definitely doesn't mean that a more expensive bid is your best choice. For example, you could have (2) bids that are somewhat higher than your budget and a lower bid that may be a little less than your budget. Most of us would automatically consider the lowest estimate initially but we have to figure out why that Contractor's bid is much lower than the other two. Below are some questions you need to ask each bidder.

- Did the Contractor omit a portion of the scope of work? If so, have them revise the estimate.
- Does the Estimate include having the Contractor prepare architectural drawings, if necessary?
- Are they using lesser quality materials (paint, cabinets, tile, etc.)?
- How long will it take to complete the work?
- Are they insured with a General Liability policy?
- Can they provide a minimum of 5 to 10 references from previous projects?
- Are permits necessary and if so, is the cost included in the estimate?
- Is the Contractor willing to let you visit several of their jobs?
- What type of Warranty does the Contractor provide?