3 Bid Rule

When searching for a contractor for your home project, follow the 3 Bid Rule. Obtaining several bids provides a range of viewpoints and pricing choices, allowing you to select the most suitable option based on your requirements and preferences.

The Three Bid Rule: Reach out to three different companies to assess your project on-site. Afterwards, request each of them to provide a comprehensive written bid for your project.

Why is it so important to find three different contractors?

Competitive Pricing: You can compare prices from different contractors. This competition often leads to more competitive pricing as contractors strive to offer the best value for their services.

Quality Assessment: Each contractor may have different approaches, techniques, and levels of expertise. By soliciting bids from multiple contractors, you can assess the quality of their work based on their proposals, past projects, and references.

Diverse Perspectives: Different contractors may offer unique insights and perspectives on your project. They might propose different solutions, materials, or designs that you had not considered, which can help you make a more informed decision.

Risk Mitigation: Relying on a single contractor without exploring other options can pose risks. By obtaining multiple bids, you spread the risk and increase the likelihood of finding a dependable contractor who can deliver the desired results within your budget and timeline.

Negotiation Power: Having multiple bids gives you leverage in negotiations. If you have competing offers, you may be able to negotiate better terms, such as pricing, payment schedules, or project timelines.

Ask me about my list of contractors!

Why type of questions should I ask a contractor?

Scope of Work: Can you provide a detailed breakdown of the work that will be included in the bid?

Timeline: How long do you anticipate the project will take to complete? Do you have any other projects scheduled that might affect the timeline?

Credentials and Experience: Can you provide references from past clients for similar projects you’ve completed?

Are you licensed and insured? Can you provide proof of insurance? How long have you been in business, and do you have experience with projects like mine?

Cost and Payment Terms: What is the total cost of the project, including materials and labor? Are there any potential additional costs that might arise during the project? What are the payment terms? Will you require a deposit, and if so, how much?

Warranty and Guarantees: Do you offer any warranties or guarantees on the workmanship or materials used?

Subcontractors and Workers: Will you be using subcontractors for any part of the project? If so, are they licensed and insured? Who will be responsible for supervising the work on-site, and how often will they be present?

Permits and Regulations: Will you be responsible for obtaining any necessary permits for the project? How familiar are you with local building codes and regulations?

Communication and Updates: What is the best way to contact you with questions or concerns during the project?

Cleanup and Disposal: Will you be responsible for cleaning up the worksite and disposing of any construction debris?

Contract and Documentation: Can you provide a written contract that outlines all the details of the project, including costs, timelines, and responsibilities?

Seeking bids from multiple contractors helps in making well-informed decisions, maximizing value, and reducing risks linked to your home improvement project. By asking questions at every project stage, you can rest assured that you have selected the right contractor for the job.

Having worked in Real Estate for more than ten years, I have collaborated with excellent contractors in the PNW. The Heather Redal Homes team consistently links our contractors with both current and past clients. If you require contractors for a particular project, feel free to contact us, and we will facilitate the connection.  – Heather

Ask me about my list of contractors!