Good, Fast & Cheap

There's an old saying that trickles through the remodeling industry and I think it applies to almost every business -

“ Good, Fast and Cheap. You can be 2 of these, but you can't be all 3”

Further, “if it's good and fast it won't be cheap, if it's good and cheap it won't be fast and if it's fast and cheap it won't be good”.

This statement applies to the customer, as well as the contractor, and there's simple reasons that explain the results.

In order for a contractor to give quality results in a short amount of time there needs to be a few components that will drive the price higher. The first is employees. With more labor output in the same amount of time the results can be achieved in half, if not less than half, of the time it would take a contractor working solo. The second reason is tools. Some tools, generally more expensive than the diy level or occasional-use tools, will cost much more than their lesser performing counterparts. Next time you're at Home Depot check out the price difference between a Ryobi miter saw and a DeWalt miter saw. The better the tool, the faster the work can be completed. And in turn, the higher overhead costs the contractor undertakes. The final reason, and one which can be surprising, is materials availability.

In some cases the amount of materials needed to complete a job will require more materials than the supplier has in stock. In order to obtain the materials on time there may be additional charges from the supplier, or additional time charges required for the contractor to obtain the necessary materials through multiple suppliers. Due to the demands of a short deadline it would be irresponsible for an independent contract working alone to take on a project like this at the same price. Look for a larger company and be clear about your project time-line. Compare your project size to that of the photos you see on their website, and when meeting make it a point to ask how long those specific projects took to complete.

If you're looking for a project to be done to expectations and aren't on a time crunch it's wise to find a smaller company that can obtain the same results in a longer period of time. Hardwood flooring installation and/or refinishing is a great example of this. One person is more than capable of taking on every task necessary for the project, but having a few more employees can accomplish the task in less time. For that reason, it may be possible to save one third of the price of installation by selecting a later deadline and smaller company.

Last, and the situation to avoid, is hiring a contractor that claims to finish the job in less time while remaining cheaper. At first glance this may seem like a good idea. Who wouldn't want to pay less and get more? Two examples of the possible results are 1. price changes, and 2. delayed finish times. If someone comes in to bid on your project and doesn't take into account the necessary steps to complete the job they can attempt to renegotiate the price or argue that the cost of the project will need to increase, even though no additional work is requested by you, the customer. At this point you risk having a contractor refuse to continue the project until terms are met. The headaches that accompany this problem can be more costly and time consuming than choosing one of the other contractors who either charged more or worked faster. On the flip side of things, a project that was initially supposed to take one month to complete can take twice as long, even though the price doesn't change, if a contractor overestimated their abilities or project requirements. This can be especially difficult if you're attempting to complete a remodel before the holidays, which happens frequently. Starting a job in October while having every expectation of hosting your family for Thanksgiving can become extremely complicated when half of the house is missing wall texture and paint.

So remember when choosing a contractor for your next remodeling project -

One company is going to cost you money, another will cost you time, but those who claim to save you both will cost you more in the long run.