Q: Why such a range in competitive bid prices?
I have received 4 bids for my kitchen remodel. There is a literally $150,000 difference between the highest bid to the lowest. How would this occur? What should I look for to understand the reasoning of the difference?
A big reason for the difference in price quotes from contractor to contractor is that the bids are not covering the same things. It is wise to hire an architect and have the contractors bid on the stipulated specifications drawn up by a professional. This way nothing is omitted or misunderstood.
Also be sure to check references of work, insurance certifications, proper licensing, and quality of craftsmanship from prior jobs. Low bids can be a sign of any of these factors and inexperience. You don't want to go with the low bid to save money than realize the quality is lacking or the budgets have been depleted without project completion.
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