Cost or Price?

Cost or Price?

What is your decision going to be based on the cost of the project or the price? You may say what's the difference but there sure is one and it will cost you in the end.

What if I said that lower price that looks all shiny and bright could cost you double the more expensive project by the time the years play out?

Imagine this, you're getting a price on the exterior of your home and you do the get three estimates thing and all your bids come back and you have a price of $10,000, $15,000 and $20,000

Naturally, you look at that high one and think wow, they are overcharging me and you decide to take that low price, they said they are using the same materials and everything is "apples to apples".

So your project cost you $10,000 to start but guess what they didn't prime that bare wood correctly and it peeled off after the year warranty they gave you. (If they even stand behind their warranty)

So you had to hire another company to come out and touch up a few things and that took two days and cost you $1250.00 so now your project cost you 11,250.00

A year later you learn they used a cheaper exterior paint and your paint is fading and chalking so now you must get it power washed and one side that hits the sun repainted. Cost $3750. Your project now cost you $15,000.

A few months later the caulk they used is failing badly, you call the manufacturer but it wasn't applied correctly so there is no warranty and you need to pay someone else to come out again and redo the work. Cost 1 day $600 Now you're at 15,600

Now the big one, you learn on the high areas they only applied one coat of paint and never primed the bare wood and you have rot underneath the gutters. 

Now you must bring in a carpenter, possibly a gutter person and have all of this replaced and painted. Your cost of this work had now crept over that initial bid you thought was overcharging you. It turns out the cost of the project was correct and they had included all of the top of the line products and the prep that was really needed.

So the moral of the story is to not just throw away that initial price, it's cost may be the lowest one after all