Remodeling Talk... Maximize Value by Minimizing the Risks of LOW BIDS

In this economy, builders know the allure of low bids, so it’s important to discern price from value. Since most qualified builders pay about the same for products and services, what you get when you pay less is usually…less. It may be less material. Sometimes it’s less labor, or less training in best practices (critical, but completely at the discretion of the builder).

How to get more value for your budget:

INTERVIEW CONTRACTORS

Texas has no contractor licensing or industry regulations, so you’ll need to check levels of professionalism, experience, and training. Rank three candidates and make your calls from the bottom up. Discuss their experience and training, your budget, how you envision the process, and the final outcome.

1. Best ways to create real long-term value within your budget

2. If the proposal will include transparent itemized costs and profit

3. Contact information for previous clients who have had similar projects completed

4. How they have increased cost-efficiency over the years

5. What they have delivered at a range of price points for this type of project

Lake Highlands Town Center

A FISH STORY

06.29.11 Something big is happening at the Lake Highlands Town Center. No, Prescott didn’t sign some coveted specialty grocer, but there is a place to get fresh fish.

Watercrest Park was the site of a recent fishing expedition by several boys from the White Rock North School summer camp program.

1. Proof of experience for the work you need

2. Proof as to the reliability of your quote

3. Objective tools to evaluate and compare the value of bids

SIGNS OF TROUBLE

A disturbing trend in this business, the “pyramid” is used by some businesses that aim to provide the lowest price to get your business, but lack the resources or ability to completely deliver on promises. Your deposit funds their next job. When deposits stop, the business is hit with liens from suppliers until it collapses, leaving you with a paid-for, but unfinished project. We have completed many of these, and the customers are always regretful.

Telltale signs of trouble include:

No office or place of business

Ads and sales pitches are focused on price

Answers to your questions are short on details, or evasive

Sketches and proposals are lacking in detail and precise language

Requests for sketches and customer contacts are denied

We hope these tips give you the confidence to select a builder that will deliver lasting value and maximize your budget while minimizing your risks. We’d love to be on your short list. Please call us to schedule an interview or an in-person visit to our design showroom right here in your neighborhood.

School staff member Robert Price and White Rock parent Melissa Amick took the boys, ages 8-11, to the park for a morning of fun. Each boy caught a small fish (which they subsequently threw back into the creek). “The park,” notes organizers of the expedition, “is part of the yet-unfinished Town Center development project at the corner of Skillman St. and Walnut Hill Lane and is a beautifully landscaped area edging White Rock Creek. It is currently open to the public.” White Rock North School, a fixture in the neighborhood for 46 years, is located across the street at 9727 White Rock Trail. CHRISTINAHUGHES

BABB

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