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  1. how to save money
  2. save thousands with a builder

SAVE THOUSANDS with a BUILDER

for your addition or new home / cottage
1
NEVER COMMIT BEFORE YOU HAVE a PRICE
  • otherwise, there is zero incentive for a builder to provide the fairest price he otherwise would have
2
FORCE the BUILDER to BE COMPETITIVE
  • if a builder knows you are getting more quotes, there is a huge incentive for him to provide his best price to be competitive
3
GET MULTIPLE QUOTES
  • this can save you thousands of dollars
  • if a bid looks too good to be true, have someone look at it to see why
4
MAKE ALL of YOUR DECISIONS BEFORE YOU GET QUOTES
  • then you'll get competitive prices for everything
  • this includes 'allowances' for undecided items
5
NEVER USE VAGUE DRAWINGS
  • if expectations are unclear, you'll have no idea what's included or what may cost 'extra'
  • you may pay for things you assumed were included
  • be very specific to ensure you are on the same page
6
AVOID 'TIME & MATERIAL' & 'COST PLUS'
  • with both of these, there is no incentive to be economical or work productively
  • you will not know your total cost until everything is done
7
DON'T MAKE CHANGES DURING CONSTRUCTION
  • if you do, you will not get a competitive price
  • think everything through to ensure you will be building exactly what you want

The reality is, once you have committed to a builder, there is zero incentive for them to provide a competitive price on anything going forward from that point. (An unscrupulous builder could really take advantage of this.)

In order for you to get the best possible price, you need to decide on as MUCH as possible, ahead of time.

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This includes 'allowances'. An allowance is a monetary-figure (often arbitrary) that is included within a construction contract, for something that is necessary, but is initially undecided.

Windows and doors are a common example of an allowance; however it is not unheard of to have dozens of allowances in a contract.

With an allowance you ultimately will be pay the actual cost, when that is later determined. Problem is, at the point, again there is ZERO incentive for the builder to provide a competitive price.

It is really in your interest to decide as many things as possible prior to getting quotes. It might seem like a lot of work, but you have to ultimately make those decisions anyway; just make them earlier, and save your money.

Related reading:
  • 9 ways to Save your Money
  • discover
  • 9 ways to save money
  • common mistakes
  • reno, move, or build?
  • architect or other?
  • start here
  • resources
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