- Get multiple quotation
- Compare Apple to Apple
- Create Peer Pressure
- Average Price
- Set Budget
- Hidden Mark Up
- Price Trick
- Branding
- Promotion Campaign
- Don’t Push too Hard
#1 Get multiple quotation
Get at least 3-quotations from 3 different companies to estimate the average price of your house renovation. From here, pick up the best price that best matches your items.
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#2 Compare Apple to Apple
Ensure that the right requirement and measurements were conveyed to all the different contractors respectively. Very often, contractors charge certain jobs at a price. Therefore, is important that you clarify with them what are the items that is included in this lump sum price.
#3 Create Peer Pressure
Let your contractor know that you're gathering a few quotations to compare. Some contractors might get affected by peer pressure, which eventually makes them drop their prices to close your deal.
#4 Average Price
Making a final decision can be hard when all contractors gave their best offer. Thus, to determine your most comfortable company. Use the average price to determine the company charges. Evaluate the “average price” by adding all the amounts received together and dividing by the number of quotations receives.
(Average Price = Total amount / Total Nos of a company)
#5 Set Budget
How do you determine your budget for your renovation? Refer back to the previous slide for references. Weigh the Budget set to determine the quality of products received from the contractor, if your budget is too low, you cannot expect high expectations.
#6 Hidden Mark Up
To prevent any additional variation orders, it is recommended that you stick with the initial contract signed. So that contractor will find no reason to charge you extra. More costs may be incurred if the way of constructing the product is unusual.
#7 Price Trick
You will need to pay attention to the Price given by renovation contractors. Same Price, Same Quality VS Cheaper Price with Sub-standard Quality.
#8 Branding
Brands comes with a price. The reason for the Good Branding is mostly due to the Good Service and Workmanship that built up overtimes.
#9 Promotion Campaign
Some Companies offer $1 (pfr) quartz top, etc., too good to be true. Avoid dropping into these events that “attract” you with unbelievable “Gimmicks” or attractive package prices. End of the day, you can be paying more than what you need.
#10 Don’t Push too Hard
Negotiate the price at the initial stage with the contractors, if the price doesn’t meet your budget or contractor's earnings, it is still feasible to cancel the contract. The result will not be good if the price is not right.