Tip 36: Get multiple estimates for home improvement projects

It can be difficult and time consuming to get multiple estimates for a home improvement project. I once got an estimate for roofing my house from a popular roofing company. When I looked at the estimate, I realized I had no way to know if the estimate was low or high, so I got a couple other estimates. The low estimate was about $3,000 less and I went with the lower price. You may not always want to pick the lowest estimate, but it is good to have a few independent estimates for the same work. If a company is busy, they may give a higher estimate. You may be able to find a company that is hungry for work and will give a lower estimate.

You can sometimes use one estimate to help negotiate a better deal- explain that you got a lower estimate and give the company you want to deal with a chance to match the lowest estimate you received.
Another benefit of getting multiple estimates is that if provides a "cooling off" period that helps you avoid an impulse decision that you may regret later. If someone offers to do work, you can always say that you need to get a couple other estimates. During the time it takes to get the other estimates you have time to think about if the project is necessary and the highest priority for spending your money. I can remember several occasions where I got estimates for projects and decided not to go forward. Not doing optional projects is a great way to save money!

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