What is behind a project bid?
Although price is important, it shouldn’t be the overall determining factor. Here are several items to consider.
The more bidders, the higher the risk to the owner.
Why? When more contractors bid they tend to cut corners to be competitive. They may seek new subcontractors to get a cheap price. Untested subs are more likely to leave items out due to lack of experience which could result in added costs later.
Get bids from contractors with a reputation for quality, safety and on time delivery.
Examine bid proposals carefully to avoid change orders. Look for words like “excluded or omitted,” as these items may be necessary to fully complete the project.
Be prepared to accept basic fixtures or materials if the bid documents are not specific.
You will usually get a higher quality job if you choose your contractor based on reputation, trust and relationships, not just price.
The lowest price doesn’t necessarily translate to the best price.