Five Tips for Negotiating Pricing with a Home Improvement Contractor
Written by: Admin | Date: Monday, 24th January 2011
Living in a recession is not always a bad thing if you are a consumer. Negotiating a price with an independent contractor actually works to the customer's advantage during a recession when contractors need work. Below are a few tips that will help you negotiate a lower price with a home improvement contractor.

Shop around for services the same way that you price shop for merchandise. The rule of thumb is to get three estimates on any home repair job. Getting three estimates serves two purposes. You are educating yourself and becoming familiar with the price range of the cost of the repair. Second, you can use estimates from a contractor's competitors as a tool to receive a lower bid. Don't be afraid to make the home repair contractors aware that you are shopping the competition. Some contractors will want your business badly enough to negotiate.

Research the project details thoroughly. Educate yourself on the price of the materials including hardware, fixtures, widows, paint, and drywall. Check prices and determine what the items cost. For example, if you want Corian countertops as part of your kitchen remodel, check prices at your local home improvement store or online. When your contractor provides the itemized bid, you can see if he is charging too much.

Provide incentives for a fair bid. It may be possible to pay contractor's suppliers and subcontractors directly. This option may appeal to the contractor since the money won't come out of his pocket.

Dealing directly with subcontractors also prevents the home repair contractor from hiding costs from you. 

Strategically choose when you want the home repair job done if the repair is not an emergency. Exterior work is cheapest in the fall. Interior work is cheapest during January, February, and March.

Be careful with your tone when negotiating your price. Tell the contractor what you need, then stop talking. If your budget is $7,500 and the contractor's price is $9,000, tell him that you can't afford the work. The company may lower their price to get the job and you won't have to raise your budget.

Every homeowner will eventually need maintenance or repair work done. Although necessary, these types of expenses are not cheap. Negotiating costs with home remodeling contractors can save you quite a bit of money over the years.

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