How Many Bids Should You Get for a Job?
One of the most important things that a new homeowner must realize before getting work done is that they can get multiple bids before hiring a contractor to do any work. Not only can a homeowner ask for bids from multiple companies before pulling the trigger, but they are recommended to get three separate bids. Doing so ensures that the price of the chosen contractor is fair, and that the work being done is higher quality than the very first contractor that you talk to.
The Three Bid Rule
- Give you high, low and middle prices
- Give you more ideas for your project
- Ensure you have a quality contractor
It’s important to get three bids for your next construction project. That’s because it gives you the chance to feel out the market a bit and make sure that you are getting a fair price. Let each of the contractors know that you’re getting a couple different bids before you make your decision and then ask for their numbers and the work plan. With the detailed plans in your hands you should have no trouble deciding which of the contractors you want to work with based on the work proposed and the cost of the overall project.
Compare Three Similar Contractors
Before you start comparing different contractors and getting bids from all of them, make sure that you are comparing options that are like one another. You don’t want to compare a large contracting company to a small mom and pop operation because you’re getting a different level of service. Make sure that everyone is roughly the same and offering the same services before you compare prices.
Never Rush into a Project
There are plenty of contractors that will try and talk you into signing on for a project the same day that you receive your first bid. While it might seem like the easy thing to do, this isn’t what you want to do. Instead take the time to see the other two bids from the other contractors and then take another day or two to look them all over and decide which option is best for you. Deciding who your contractor is going to be shouldn’t be a rush, because it’s an important decision.
Act Quickly After Receiving the Bids
Contractors are busy, they don’t have time to wait months for you to respond to their bids. They will expect an answer within a week or two after giving you your bid, and if you wait too long you might have to work with someone else. After going through the trouble of getting bids, make sure that you take one of the contractors up on their offer and that you do so quickly. That’s the only way to ensure that you’re going to get the work done at the quoted price and that you won’t have to wait months to work with that contractor that is suddenly busy on a different project.
This isn’t a hard-and-fast rule, but it’s a good way to get started with any project and asking for multiple bids helps ensure that you hire quality contractors for your job.