Should you opt for the “better” but more expensive ID?

There is one cost that everyone forgets about, but is extremely important, when comparing quotations - the cost of the ID.

Often, you narrow down your ID options to two people. The dilemma comes when the person you prefer is more expensive than the other.

How then do you decide?

Our take - If the price difference is:

• <5% : Go with the more expensive one

• < 10%: Still go with the more expensive one, arguably

• > 10%: Estimate the value of the ID to you

We can guarantee you, if you chose the cheaper one, but the renovation experience went south, you will definitely begrudge yourself for not choosing the slightly more expensive one.

Conversely, if you chose the more expensive one and it went south, you likely would not think of the cheaper one anymore. You’d just hate life.

Above the 10% threshold (for us) is when you need to weigh the opportunity cost.

Renovation cost is not just about labour and material, it is also about the project management and 4 months “relationship” with the individual handling it.

This cost is an intangible. It is not reflected in the quotation. Yet it often makes or breaks the renovation experience.

For example, assuming all else equal except the IDs, for two quotations of $80k and $70k, is one ID worth $10k more than the other?

When answering this question, ask yourself if you are willing to pay that price to increase your chance of making your renovation experience better?

Furthermore, don’t answer this based on today (i.e. pre-renovation). Answer it by imagining 4 months down the road, when the renovation is completed, and you have shifted into your abode.

Your objective is never to find the cheapest quote. It is to find a quotation that minimises the headaches you might face during renovation.

These headaches can be in the form of cost, hidden costs, project management, ability to tell ID “no”, or even just the connection.

Don’t get us wrong - we are not advocating choosing of expensive quotations. There is a reason why we set the 10% threshold, and why we only work with firms that do not charge exorbitant margins.

Our intent is really in helping homeowners to set the perspective and make the best decision when choosing an ID!

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