THE DYOJO
  • HOME
    • CONTACT
    • ANTI-TRUST
  • PODCAST
    • BLOG
    • TRAINING
  • RESOURCES
    • BOOK1
    • BOOK2
    • BOOK3
    • BOOK4
    • BOOK5
    • LIBRARY
  • EVENTS
    • FoCKED
    • SOCKTEMBER

How much does it cost to remodel?

5/31/2022

0 Comments

 
Have you heard the saying, "You can have it good, fast, or cheap, but you have to choose two." While it seems like a good idea to get the best deal when shopping for a kitchen or bathroom remodel, in the current market there is not a shortage of work for quality contractors. If you are consumer and are getting more than 2 or 3 bids, you will probably find that many contractors won't even bid. Consumers and contractors should focus on is value when determining the cost of a remodel project. 

The Best Price for Home Improvement

The best price is not the cheapest, the most expensive, or the middle of the pack. Some contractors can do it cheaper than their competitors and do it well. Unfortunately, a contractor that does not know how to properly price their services likely is not covering all of their obligations such as taxes, overhead expenses, and investing in the long term growth of their business. If you are a contractor and doing work for less than market averages as a strategy to get you more work, stop and think for a minute about whether you are profitable. 
​
  • You can do 100 jobs to make a million or you can do 10, which approach gets you closer to your goals? 
  • If you collect a million dollars on a project but spend a million dollars to complete it, have you made any money? 

The Best Bang for Your Buck When Remodeling

Consumers and contractors should focus on value. As a contractor, what value are you brining to your clients and are you doing a good job of communicating why your process and pricing unique? As a consumer, you want to find the contractor who fully understands your vision and can best work with your budget. Neither contractors or consumers win when corners are cut in order to cram an unrealistic scope into a underfunded budget. 
  • What is the scope of work? What do you want to have done in your home and what material specifications would you like to be included in the bid? 
  • What is the budget for the project? While you may not want to share this, most contractors can tell you whether the budget you have is in sync with the scope you envision. 

Unrealistic Expectations for Renovation

As I share in my upcoming book, I think much of the modern consumer mentality is shaped by home improvement shows. What the customer expects is that we can walk through a house in five minutes or less and tell them, “This will cost $1,500 (seems like this is the magic number for everything) and my crew can start this afternoon.” Unfortunately this is not how things work in the real world. If you need to prove this to a client, you can find stories like this one from Fast Company that reveal these shows are selling “fantasy at best and nightmare at worst”. 
0 Comments



Leave a Reply.

    Words

    The DYOJO - helping contractors shorten
    ​their DANG learning curve


    Book #4 - AVAILABLE NOW - How To Suck Less  At Estimating. Habits for better project outcomes. 

    Book #4 - AVAILABLE NOW as a TRAINING COURSE through our friends at Restoration Technical Institute

    Book #3 - So, You Want To Be A Project Manager? is designed to help contractors with the mindset and habits for success in this role. 

    Book #2 - Be Intentional: Culture, is a collaborative publication discussing how the small things enhance or undermine your efforts to build a thriving culture. 

    Book #1 - Be Intentional Estimating, is the 5 star rated book that helps estimators produce more consistent outcomes in the insurance claims process. 

    ​Jon is the host of The DYOJO Podcast, helping the skilled trades to shorten their DANG learning curve for personal and professional development. 

    RSS Feed

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020

    Categories

    All
    Books
    Clarity
    Construction
    Creativity
    Culture
    Estimating
    Growth
    History
    Insurance Claims
    Law
    Networking
    People
    Personal Development
    Podcast
    Products & Services
    Project Management
    South Sound Connection
    Support Local
    The Intentional Restorer
    Training

    RSS Feed

    Estimating 

    Marketing

    Insurance Claims

    Leadership

Contact The DYOJO
  • Property Restoration Resources Library 
  • Watch or Listen to The DYOJO Podcast 
  • Buy a Book by The Intentional Restorer
  • ​Read The DYOJO Blog
  • ​Dig Into Property Restoration History
  • Join The DYOJO Mailing List​
DYOJO Anti Trust
File Size: 75 kb
File Type: pdf
Download File

  • HOME
    • CONTACT
    • ANTI-TRUST
  • PODCAST
    • BLOG
    • TRAINING
  • RESOURCES
    • BOOK1
    • BOOK2
    • BOOK3
    • BOOK4
    • BOOK5
    • LIBRARY
  • EVENTS
    • FoCKED
    • SOCKTEMBER