Nothing is More Expensive than the Cost of Regret Part. 2
Hiring the wrong professionals for the wrong reasons Basing your decision to hire a professional solely on price can become a huge regret in the end. The cheapest bids often times have left things out of the scope of work or under-budgeted the materials that would be best suited for the project and the client’s expectations. This is sometimes by accident, or worse- on purpose- in order to “get the job”. Unscrupulous professionals can “forget” items with the knowledge that they will be captured down the road in the form of change orders that can cost the homeowner a lot of frustration and “creep” the overall budget past what was anticipated on the outset of the project. The best business-minded and customer-service focused professionals, by contrast, will attempt to capture the complete scope of work and have detailed discussions about your expectations in regards to the quality of the materials being used, along with the actual work required, to try and hone in on the proper pricing for the project up front.
In addition, the lowest bidder may use unlicensed workers, not carry the proper type or amount of liability insurance, or cut corners to save money on the project instead of doing things to industry standards. The implications of many of these cost-saving practices can result in serious consequences ranging from fire or safety issues to shoddy craftsmanship and cheap-looking results. Conversely, hiring the most expensive firm can have the consequence of saddling the cost of the project with the cost of higher overhead as they are offering a lot of services you don’t want or need. There are times when the business model is not well suited to your specific budgeting goals for your project, and flushing those items out is imperative to avoiding regret in the choice and expense of hiring the right professionals.
Another factor to consider in hiring professionals to manage the project for you is to determine what style of business works best for your expectations. Do you expect daily interaction initiated from your service providers? Do you expect your call or email to be answered immediately every time you pick up the phone or click send? A higher level of interaction in most cases, requires a larger amount of staff (and overhead) which, frankly, just costs more. These costs often result in fewer headaches and clear expectations though, and should not be discounted if this is what is important to you.
The bottom line here is that you want to vett the professionals you are working with and base your choice on all of the factors to be considered and pricing is certainly important to meet the bottom line budget. These professionals will be in your home- your personal space- and communicating with you during what most homeowners would consider to be a very stressful time. The level of attention being paid to service, detail, craftsmanship, safety and satisfaction contribute to whether the price is right…and not regrettable.
We’ll be back next week with #3 in this series!