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If you plan to have some home renovations done, ask at least three contractors to submit estimates. For a major project, you can give them up to three weeks to prepare their estimate. Provide them with professional quality plans and proposals designed by an architect, a designer, or a qualified contractor.

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Select the contractor who offers the best quality for the price.

If you decide to hire one contractor to manage the entire project, the design plans can be included in a comprehensive contract. Because these plans belong to you, you can also choose to retain the services of another contractor to perform the work.

Your proposal must include a precise list of all the materials required for the project, such as the type of floor covering, the type and brand of doors and windows, the finish you want, etc.

Next, meet with each contractor to discuss the estimate and make sure that it addresses the same jobs, uses the same materials, and includes everything you asked for. Confirm that the price includes everything that the contractor will need to complete the project.

You can assume that the price includes only what is listed, and you should expect supplementary charges for unanticipated requirements. Carefully compare the estimates and make sure that each contractor is prepared to respect the start and finish dates for the project.

You don't have to choose the contractor who submits the lowest estimate. If the full scope of the work is under-estimated or if the contractor is trying to under-price the competition, additional charges may crop up during the project, or the work may end up being unsatisfactory.

In addition to a reasonable price, you must also consider the competence, availability, advice, and reputation of each contractor. Select the one who, overall, offers you more for your money.