How Many Quotes Should I Get For Construction Project?

Home Love Construction’s Brad tackles the question of how many bids a homeowner should get for their construction project. With the hot real estate market in the Tampa Bay area in March 2022, Brad offers a perspective based on the current state of the construction market. He explains that getting three to five quotes is a process that can take one to two months to complete. This is because finding contractors to be interested in a project is challenging in the current market.

To help the homeowner make an informed decision, Brad suggests doing independent research to find two or three companies to consider. He stresses the importance of looking into licensing, reviews, and other information to get the facts right. Brad dispels the myth that the cheapest contractor is the most reliable, stating that the most reliable contractor is the one who does the most work.

He also highlights the dangers of working with a contractor who may be down on their luck, as they may have financial issues that could affect their ability to complete the project. Brad suggests adopting the fact that the most reliable contractors are those who have a large customer base and maintain a good reputation. They are more likely to act ethically and for the greater good, which ensures they get paid fairly.

Brad also mentions that homeowners should be careful when making a deposit for a project. The deposit is a significant amount of money, and if the contractor has financial issues, they may take the deposit and leave. Brad has seen this happen many times and cautions homeowners to be aware of the risk.

In conclusion, the number of bids a homeowner should get depends on the market conditions, but getting three to five quotes is a reasonable starting point. The homeowner should do their research to find two or three companies they are interested in and make an informed decision based on the facts they gather. The cheapest contractor is not always the most reliable, and homeowners should be aware of the potential risks when making a deposit.