The Cost Of Doing Business

COMMENTARY

• FACT: 85% of contractor remodelers fail within the first five years
• Many contractors lack understanding of the true costs required to run a business effectively
• Explaining Quality vs Cost vs Timeline
• Learn about ‘The Dashboard Test’ in hiring a contractor

CALLER

• Jeanette is planning add ons to the house. The yard and the actual structure of the house. Wondering how do you find someone that’s quality and price and not takes forever to complete

Key Insights Picking A Contractor

CALLER

• Jay in Mesa has a home on 1/3 of an acre. Trying to figure out what type of ‘casita’ he can build. Its big enough for a 2 bedroom or a double/triple wide like structure with room to spare

COMMENTARY

• The importance of thorough vetting and interviews with potential contractors
• The first contractor to arrive late gets disqualified in the selection process
• If needed, adding a clause for easy termination of the contractor
• Gauge reliability of the general contractor by assessing their network (sub-contractors)
• Knowledge of local regulations and codes is essential for projects
• Highlighted the potential manipulation of online reviews in social media often not trustworthy

Important Takeaways

COMMENTARY

• Industry trend of local businesses acquired by larger companies resulting in decreased service standards
• Necessary contractor vetting ensures a higher chance of satisfaction
• Construction challenges requires trust in the contractor you hire
• Home remodeling is a blend of art and science with unpredictable challenges that can arise