credit card used for remodeling project

Why You Should Always Let The Contractor Know Your Budget

budget

 

Trust Who You Hire

Kitchen and bath remodel’s are usually very large jobs. An average remodel will cost anywhere from thirty to sixty thousand dollars depending on materials.  If you don’t give the contractor some idea of what you want to spend, you will create a frustrating process for both of you. If you feel you can’t trust your remodeling budget with a contractor then how will you trust a $40,000.00 remodel on your biggest asset? If you feel uncomfortable from the start trust your gut and move on to another contractor. Never trust someone with a large project such as this if you feel honesty about your budget isn’t an option.

Do Your Homework

Today, the internet has helped to keep contractors honest. Do your homework, read reviews, and check the Better Business Bureau. If a contractor does not have an online presence I would be leery. Many contractors close businesses when they incur issues and reopen under new business names. If a contractor is in business for several plus years you can bet the farm on the fact that there are reviews out there.

Share a Realistic Budget Range With Your Contractor

A part of the bid process is picking products. A contractor will offer good, better, and best products. If you tell a contractor you want to spend less money, to protect your budget, you are screwing yourself. A good contractor is going to use your calculations and try to get everything you want completed within that price range. In order to stay in your price range you will force them to pick lesser quality items. If you are paying for a kitchen or bath remodel, and putting money into an investment, you need to buy quality products. Maybe not the most expensive, but not the least expensive either.

Bidding a Remodel is Work

There are so many variables in a bid of this size. Not being honest from the start is going to waste your time and theirs. Let them know from the start and if you feel uncomfortable with the bid, get a second bid. It is that simple. You should usually get three bids anyway. Putting together a bid for a remodeling project usually takes hours. If you are not honest, the contractor is going to spend hours preparing a bid that is useless. Going back and asking him to spend several more hours redoing all the numbers is going to start the relationship off on the wrong foot. Don’t play games with your contractor and then expect him to show you respect. Be honest from the start so the process is easier on both of you.

Remodeling Costs Money, Make Sure You Have the Available Funds Before Getting a Bid

If your price range is unrealistic from the start a good contractor will tell you and there is no reason to move forward until you can afford the project. Getting pricing today for something you can’t afford for another year is useless. Trends change and pricing goes up and down. The price you get today won’t even be valid in a year. Remodeling companies work long hard hours. They stay up late at night writing bids. Be considerate. Make sure you have a line of credit available, or your refinance is a go before wasting your own and an estimators time.

 

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