Whenever you’re working on a project around your home, I recommend getting 3+ bids. But once you get them, how do you know how to compare them? Prior to founding a home services company, I had almost 20 years of experience comparing bids for residential and commercial home projects. This is the process I use when I’m trying to determine which one to go with.
Ask - are you optimizing for Cost, Quality or Timeliness (speed)?
There’s a time and a place to optimize for each of these things. Just know that you can likely get 2, but it’s extremely rare to get all 3.
This will be the primary piece you’re evaluating for each contractor’s bid.
List them for yourself in priority order.
It can be helpful to let contractors know which one of these you’re optimizing for (and if you’re telling one, tell all of them).
At a high level, do the estimates include the same things, at the same level of detail?
If not, ask each contractor to provide it. Don’t tell them what to write, but ask specific questions about the details you like from the other bids.
Are they using the same types of materials?
How many people are involved in the project? More people will mean the project may be done faster. Depending on the roles, it could also make it more expensive.
If you can’t tell, are there any flags that any of the vendors called out either when speaking with you, or in their bid? Ask the others about this and see what solutions they would recommend (or if they agree).
If optimizing for Cost:
Are they all truly “apples to apples”? If so, you know the cost part of the equation is closer to equal.
Have you ever worked on mindset related to scarcity? Check to see if that’s flaring up when you think estimates are coming in “too high”. (I’m often guilty of this!)
Ask to itemize further if you want a better understanding of how costs are allocated.
Is this a vendor who adds contingency up front, in case something comes up, rather than hitting you with a surprise change order later on? This may factor into a higher estimate, but lower cost in the end.
Is it important to you if they pay their workers fairly? (Cost of Living is steadily increasing in Seattle) This may factor into higher costs.
If optimizing for Speed:
Which vendor can get this done faster?
Can they truly complete the project before your drop dead date? (add some buffer days just in case!)
Do you have any constraints you need to make clear to them (material delivery, HOA approval, etc)?
If optimizing for Quality:
Has this vendor done this type of work previously? Have you seen pictures in their portfolio (or have you asked for some pictures)?
Does this vendor have a 1-year guarantee or warranty for their work?
Trust is important. Also consider:
Who do you feel most comfortable with? Were any of them referred by someone you know, with a similar project? Have you checked any contractors’ references?
Is this person licensed, bonded and insured? (look them up on Washington State Labor & Industries)
Plumbers and electricians require more licensing than general contractors
Would you feel more comfortable with a woman in your home? Work with a vendor who can provide this, if it’s important to you feeling safe.
Which vendor’s mission aligns most closely with your values?
Overall, rather than making snap judgments based on any of these, tap into curiosity to ensure you have a good understanding of the finished output from each contractor.
If you have any home projects in Seattle, or are looking for a Seattle property manager who uses this type of decision tree when collecting bids, reach out to us! We’d love to work with you!