Ask the builder to itemise their price, i.e. separate the costs of plumbing, electrical work, painting, etc. If your preferred builder has some significant anomaly between his price for a particular line item and the price from other estimates/quotes you will know in advance. You can then ask the builder to check his price to make sure they have not made an error. If a builder under-quotes due to an error in calculation or understanding, they are more likely to cut corners on the job to recover profit lost from the quoting error.
Let’s take a look at an example.
You receive a plumbing quote from your preferred builder that is $35,835. Plumber quotes from other builders (for the same scope) are $47,560 and
$50,500. You ask the preferred builder to check his plumbing quote. He comes back to you two days later and sheepishly admits that he forgot to include the new roof in the plumbing quote. So you ask him to price the roof and he confirms the new roof will cost $11,000. The total amended plumbing component of the quote is now $46,835.
In my experience, it is better to have a builder making a fair profit on the job than trying to complete a project where the builder has started with a loss. If this is the case the temptation to cut corners or to find ‘extras’ may be too great. I always strive for a win/win – a good job for a fair price.
Keep all of your property related quotes in inndox for easy reference.