Characteristics of Low-Risk Contractors
Our last blog post showed you how to identify high-risk home remodeling contractors – the type of contractor that you should avoid at all costs. This time, I am going to talk to you about some of the common characteristics of a low-risk contractor.
If you missed the last part, or simply need a refresher, you can find the aforementioned article by visiting How to Spot a High-Risk Contractor.
Before we get into the traits that low-risk contractors possess, we should discuss what exactly a “low-risk” contractor means. By definition, this type of home remodeling contractor offers you the least risk in something going wrong on your construction project that would, in turn, increase your budget and/or the time it takes to finish your remodel.
This differs from a high-risk contractor, who puts your job at “high risk” through lack of experience, care, concern or knowledge. High-risk contractors may bid lower, but in the end, they are at higher risk of costing you much more money. This is why going with a low-risk contractor is always the right decision.
Now that we understand what a low-risk contractor is, let’s look at a list of characteristics they typically employ.
Common Characteristics of Low-Risk Contractors
- They make exact appointment times and are on time for them.
- Phone calls are returned by the next business day, if not sooner.
- If they are not interested in the work, they will say so. They may even refer you to someone else who can help you.
- They are licensed, insured and have a permanent business address, phone number and website.
- They have been in business for 5 or more years (10 or more years is even better)
- They honor their warranty (the best have a multi-year warranty).
- More than 60% of their business is from repeat clients or referrals.
- They are members of the National Association of Home Builders (NAHB), or the National Association of the Remodeling Industry (NARI) and have to abide by a strict code of ethics.
- The very best have NAHB or NARI certifications. You could use this for the sole criteria for hiring. Not only would you be dealing with the best the industry has to offer, but you won’t see the wild fluctuation in price either.