I have been trying to get drywall installation quotes for an older home. So far, I've received two - $4500. and 7,000. So, I'm thinking the $7,000.00 quote didn't really want to do the job. How do you know what's a fair price? I live in the Richmond, VA area. Is there any average, "ball park" price? Or is it just an average of all the quotes you get?
We can't tell you what price is reasonable for your job or your area, but I can tell you that you haven't got enough bids. You should always get at least 3 or 4. Throw out the lowest and the highest bids if they aren't in the same range as the others and give the remainder a look. Check references, insurance, and as much background as you can.
Don't assume that the $7000 guy doesn't want the job. The $4500 might be a hack.
Continue to get pricing.
I once had a client (home owner) that we did a small subcontracting job for (years ago).
He was happy with the completed work. However, he then proceded to tell me that one day after he had signed our contract, another contractor had called him and given him a price that was about $1000.00 lower than ours. He asked if there was anything that we could do, based on that.
I said to him: "What makes you think that his price is correct, and our price was high?"..."How do you know that he isn't a hack, that his price is too low for such work, and our price isn't spot-on?"
He looked at me....and had nothing to say...silence...
You, as a home owner, have very little to go by, in terms of gauging what prices are right, what are too low, what are too high.
Every single job is different. You cannot compare one job, to another. It is not like going to a retail store, car dealership, or dealing with plane tickets. No two jobs are the same. There is no "blue-book value", or "standard-rate" that all jobs can be ....put up against.
All you can do, as a home owner, is to shop around, compare references, study the estimate details, look up licensing/certifications, examine similar work, ask about insurance coverage, evaluate presentations, look for professionalism (or lack there of), sense your Gut-feeling, examine reputation, etc, etc, etc....
It is like interviewing for a nanny, or, talking to your teenage daughter's first date....
There is no set comparison table, book, ruler, or gauge to set your expectations against.
Again, just remember....no two jobs are alike, and.....You get what you pay for...
Also, don't assume that the guy with the highest price is the best contractor. It stands to reason that someone that does superior work will price their jobs accordingly, but that is not always the case. Check references for sure.
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