Why choosing a lower priced builder can end up costing you more
You get what you pay for: we’ve all heard that expression, but it can be hard to turn away from a lower price. It’s easy to get multiple competing prices for your new home or renovation and it can be hard to not accept the lowest price. But these prices are low for a reason and can end up costing you more in the long run. There are companies who will seek out lower priced contracts to provide much needed cost flow for their business.
A few reasons why some bids might be dramatically lower than others:
They haven’t done their research
A lowball price is often the result of the builder having missed something. Whether it’s something as simple as a requested feature, mistakes get made when things are rushed. Many times, they’re simply doing a cost per square metre and they’re all but guessing at the price to land the job. They’re certainly not accounting for unexpected budget blowouts that can happen with any build, and won’t offer you any protection should those occur. Again, you’re best served by hiring a professional builder who will invest the time and money necessary to price your project accurately, and provide you with a fixed-price – eliminating pricey overruns.
They’re sacrificing quality
Underbidding a project inevitably means cheaper materials, fewer and less experienced tradespeople, and rushed work. It also means your job could actually be delayed, depending on how many of these low margin contracts they’re having to work at once to stay afloat.
Bait and switch
One easy way to keep a quote low is to swap out specified items and features with lesser quality substitutes. That rainfall showerhead you asked for might be a cheap silver plastic version, rather than a quality stainless steel piece. A reputable builder will run through all of this with you, and state clearly what options you’ve chosen and will receive in your build.
Finding the right home builder isn’t a bargain hunt – it’s more like finding the right relationship. Even busy professionals in Brisbane should take their time, do their research and ask the right questions. The right builder, such as Bartlett Builders Qld will have the answers and understand your concerns.