BUILDING TRUST BLOG
CONSIDER THE COST
Beware of evaluating the cost of a custom renovation solely on the price you're quoted.
Renovation problems can be avoided if identified soon enough. Ever avoid a big problem by heeding a simple warning or applying a small bit of knowledge? Sometimes that’s all it takes. Renovation problems are no different. They can be avoided if identified soon enough. Here's one big renovation pitfall to avoid.
Renovation Pitfall #1: Confusing Cost with Price
Getting multiple quotes for a renovation project is wise. But why? Many would say to compare cost. To illustrate consider the following multiple-choice question.
Suzanne is planning a master bathroom renovation. She articulates a clear scope to three different contractors. Her scope includes installing a new tub, countertops, toilet, tile flooring/shower surround, lights, sink and lighting fixtures. She has made all her selections. Each contractor agrees to quote her project. Which contractor will cost Sally the least?
A) Contractor Buck’s quote: $9.5K
B) Contractor Joe’s quote: $8K
C) Contractor Mike’s quote: $12K
D) The lowest cost cannot be determined.
(Note: A, B & C are all quotes. No estimates. A quote won’t tell you everything but is much more reliable than an estimate. The problem with estimates is they fluctuate in price, and usually in an upward direction.)
Correct answer is D! Contractor Joe appears to cost the least. Does he? Here's one possible scenario where he doesn't. Say Suzanne chooses Joe at $8K. Three weeks into the project Joe doesn’t seem really focused on details, or cleanliness, or showing up when scheduled (or at all). Suzanne still feels progress is being made and justifies choosing Joe based on how much she’s “saving”. Joe finally completes the projects, taking 38 days longer than he originally said. Suzanne is just happy to have her bathroom project finished.Unfortunately, the real problems are about to start.
Three months later a tile falls from Suzanne’s shower wall and shatters at her feet while she’s taking a shower. Suzanne immediately notices other wall tile are loose. For 2 weeks she attempts to contact Joe, calling him 6 times before he finally calls back. Joe doesn’t sound really positive and finally concedes, “Laying tile really isn’t my specialty. I just did it myself on your project to keep cost down. Really don’t know what to tell you.” Suzanne wants to waste no more time. She hires the most reputable tile installer she can find. He tears out and lays all new tile, both floor and shower surround. His charge: $5.3K. Suzanne’s bathroom renovation cost has risen to $13.3K, and she’s paying significantly more in terms of lost time and intense frustration.
Here’s the point. Delays, subpar craftsmanship, poor communication, and no warranty all contribute to your bottom-line cost. Yes, compare multiple quotes, but don’t stop there. Also compare the contractors who give them by requesting references. Look for a track record of prompt & clear communication, excellence in design & craftsmanship, clean & safe job sites, detailed scopes & guaranteed costs, satisfaction guarantee, and warrantied work. This is the best way to ensure you’re receiving an “apples to apples” cost comparison.
Are you contemplating a major home renovation? Speak with a Daniel Builders project guide by calling 864.506.5546 and discuss the best path forward for your custom renovation or get your renovation started here!
We’d love to hear from you! Whether you’re ready to start a major remodel, or simply learn more about our process, we’re ready to assist.
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