Lowball Bidders: Low Price Or High Cost?

If you've ever priced out a renovation job for your home, you've likely contacted at least one home improvement professional (or somebody purporting to be one) in order to get a quote for the work to be done.

The biggest concern when searching for a quote for some people is the lowest price. For others, it will be value and quality. As a homeowner, you too might be allured by the former; what could be wrong with getting my renovation project completed at the lowest possible price, you might ask?

For one thing, you should know that it is almost a certainty that low price and high quality will have an inverse relationship in the home renovation industry. While getting a "low price" for your project is certainly possible, it is likely that the quality delivered by the company or individual offering this price is of a much lower level than what would be provided by a firm quoting a higher price on the same job. Say, for example, that you have three different contractors come to your home to take a look at a project. Two come back with roughly comparable written proposals, highlighting a scope of work, finishes, and materials, while one other one calls back and gives you a number that is 30% lower than wh