Why Get Multiple Construction Quotes from Builders?
- August 3, 2023
- 4:20 am
You finally received the green light for your new project and you’re more than ready to jumpstart it. But there are a thousand different things to do, and you haven’t settled on a builder or contractor yet.
While you have a budget already, you don’t have a clear picture of how much you’re going to spend for this new build. You’re also thinking about whether it’s better to get a quote from one highly rated contractor/builder and sign him up immediately or is it better to get multiple construction quotes instead and weigh your options.
In this new blog, we’ll try our best to provide a solution to this dilemma. We’ll also discuss why it’s better to get multiple construction quotes and choose the best builder based on the quality of their work and their pricing. Let’s get started.
Getting an estimate is just one of the many steps to starting your new project. It gives you a bit of an idea of how much you need to spend on a given project.
Construction quotes, on the other hand, give you a crystal clear picture of the total project cost. These figures allow you to allocate your money properly and help you avoid going over budget.
Getting multiple construction quotes also lets you save money. Multiple quotes allow you to compare the costs presented to you and lets you choose the best contractor that fits your budget. This lets you build your project at the right price and with a set timeline.
Obtain construction quotes from as many contractors as possible so you will have a lot to choose from. Next, narrow it down by trade. Get at least two to three quotations for every trade (plumbing, masonry, HVAC, laborer, mason, etc.).
For pricier construction projects, we recommend approaching at least four to five subcontractors so you can get a clearer picture of the partial or full cost.
Keep in mind that different trades have varying price tags, so don’t be surprised when a contractor provides you with a higher quotation than the other. For example, the price of paying an electrician is higher than the price of paying a glazier or a laborer. Elevator mechanics also fetch a higher salary compared to other trades.
But don’t be afraid to expand your pool and send out a quotation request to other contractors if you don’t like the price quoted to you by the first three or four contractors. The bottom line is you should always hire someone that fits your budget.
In the construction industry, a quotation only gives you a clear picture of what you’re going to spend on the project. That doesn’t mean it’s final.
Negotiating prices is completely normal (and often expected), so don’t be shy to hammer it out if you like the contractor but you find their price too high.
We hope that you find this blog helpful in finding the right builder and getting the quotes you need to take your project closer to completion.