Home improvements are expensive. And large scale projects such as home additions and new builds can be difficult to handle and complicated to finance. Homeowners (and soon to be homeowners) need to cut costs where they can, but the temptation to hire cheap contractors can be dangerous. Each general contractor Virginia has to offer will have a slightly different take on your project, including varied prices, services and above all quality of workmanship. But how much of your satisfaction and investment are you risking by hiring a cheap general contractor?
Cost In Terms of the Overall Budget
When considering a new build or a home addition, the cost of a general contractor is somewhere between 5 to 15 percent of the overall budget. So when you come across a contractor that is 25 percent cheaper than the other quotes that amount may not be much when compared to the total cost. On the other hand, the more expensive your project is the more savings you are likely to pocket from a lower bid.
The best advice is to look at the numbers side by side, comparing overall costs. Consider the value of a knowledgeable and experienced general contracting firm and always hire a firm you can trust. When it comes to your home, paying an extra $5,000 or $10,000 to avoid headaches and warranty issues that arise from unqualified and sloppy generals just makes sense.
What Can You Expect From a Cheap General Contractor?
The most important thing to remember is that the original quotation from each general contracting firm may not be the price you pay. Each general contractor Virginia has to offer will quote based on a fixed price (which will need to change every time there is an alteration to the job), time and materials (where the total price is calculated at completion based on what was used and how many hours were worked) or a cost plus basis (similar to time and materials, except you pay the original costs of both materials and labor plus a fixed profit for the contractor). Be sure to find out which type of contract the firm is offering you.
All three of those options can result in additional costs. The larger your project, the higher the chances are that the price will creep up. Very often the general contractors that come in with a low quote (commonly called low bids or low bidders) will have higher costs for extras or complicated ways to calculate the time and materials. Be skeptical when a bid seems too to be true.
Besides the inflated price, cheap general contracting bids often result in rushed jobs and poor quality. The old adage is true – you will indeed get what you pay for. Hiring a reputable general contractor may cost you more, but the work they will do and the skilled way they will manage your project is well worth it.
A general contractor Virginia homeowners have trusted will be able to supply references. Contact these past customers to get a feel for the value these firms offer. You are not likely to regret paying more for a good quality job. Whereas when you hire the cheapest bid, the danger of additional charges and poor workmanship loom large.