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Some practical tips to compare your quotes

Last modified: 2021-03-15 | Approximate reading time 3 mins

Karine Dutemple

In the early stages of a renovation project, there are several options to consider before making your final decisions, including comparing each option before starting anything. Materials, contractors and prizes are all examples of the different choices that will be presented to you during your research.

Fortunately for you, our editor Léa recently started writing a column on the renovations she and her husband undertook to refurbish their condo, detailing her various experiences, such as her meeting with an interior designer, the choice of materials and the preparation before starting the project. You can read all the articles in this series here!

That being said, an often infuriating task at all these stages is the process of comparing quotes. Is there a way to make this step simpler? Is there a quick and easy way to choose the right contractor? Are you being fooled? That's what we're talking about with you today!

Compare quotes

Some research to learn more about contractors

At RenoQuotes.com, the contractors that are part of our network are certified and their application form is reviewed by our employees. By taking these precautions, we are making sure that we are easing the burden for our customers so that it is easier to decide in the end.

However, while we work hard, no one is perfect and this also applies to the contractors you will do business with, whether they are in our network or outside! It is advisable to select a contractor who will be referred to you by a friend or neighbor or who has good references and several positive comments online (especially on our platform), in particular with photos!

It is also good to have at least 3 quotes so that you can compare them easily and as they should.

The contractor that will present to you the cheapest quote will not automatically be the least good among the lot and vice versa for the most expensive. There are several other factors to consider. This brings us to our next point!

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Know how to compare prices equally

I found an interesting article on the website of Construction Leblanc and I think I couldn't have explained this part in a better way. In their words:

"The first thing everyone looks at in the choice of the contractor is obviously the price.

For some items, the contractor will operate with allowances in his quote (e.g. kitchen, lighting, etc.).

For example, he's going to give you a $20,000 stipend for your kitchen. Another contractor could give you a smaller allowance, which will lower the total price of the quote. You have to be careful to compare items on a similar basis."

In short, it is good to compare each item with its similar on your different quotes rather than the total price, as it could change considerably.

Check out our article How to Find the Right Contractor for Your Renovation Project to learn more.

Two types of contracts for your quotes: compare total prices 'cost plus' versus 'fixed cost'

Another important detail to consider is that of fixed-price contracts and those "cost plus". A contractor who charges you a fixed total will tend to take a larger percentage because the risks to them are greater. For example, if the total cost, in the end, is higher, the contractor will pay and you will not. However, the price of the materials in allocation must be taken into account, which could also cause the final cost to vary.

On the other hand, there are "cost plus" contracts. Since this type of contract is often less risky for the money-making contractor, it may seem lower in the end since the percentage taken will be lower. It includes the price of the project with materials and labor, a percentage of their profits and the hours worked. The principle is that if the contractor's estimate is correct, the project could cost you a little less in the end, versus the fixed one that has a slightly higher percentage.

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In the end, it's not just the prices you can look at when comparing quotes

The dynamics you will have with your contractor are just as important as the prices that the contractor will give you. If you experience some differences of opinion or small clashes from the first meetings (even if they are minimal or infrequent), perhaps you would be better off with another professional?

In the end, the project belongs to you and it is your home. Make sure you feel comfortable with the person you hire to avoid unpleasant surprises or bad experiences. Ask all your questions, good or bad! The contractor is there to answer them and to allay your worries.

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Get 3 renovation quotes for your home renovation project

RenoQuotes.com can help you get quotes for your home renovation project. If you submit your project to us, we’ll put you in contact with top-rated contractors. Fill in the form on the homepage (it only takes a few minutes), and you will get estimates from trusted professionals.

Dial 1-844 828-1588 to speak with one of our customer service representatives

 

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