A recent report reveals that 33% of homeowners are willing to hire contractors with questionable reputations to cut costs. Discover the risks involved and how to choose wisely.
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Home repairs and renovations can be costly, prompting many homeowners to consider cutting corners. A recent report from Clever Real Estate highlights that approximately 33% of surveyed homeowners are open to hiring contractors with questionable reputations to save money. This decision, however, comes with significant risks.
Understanding 'Questionable' Contractors
A "questionable contractor" is defined as one who may not be entirely honest about pricing, could exaggerate their skills, deliver subpar work, or fail to show up for the job altogether. Jamie Dunaway-Seale, the report's author, emphasizes that while many homeowners prioritize reputation (25%) when hiring a contractor, experience (23%), cost (19%), personal recommendations (13%), availability (11%), and estimated project timeline (10%) also play crucial roles in their decision-making process.
The Risks of Hiring Questionable Contractors
Experts warn that opting for cheaper, less reputable contractors can lead to higher long-term costs. Angie Hicks, co-founder of Angi, suggests that it’s often better to hire someone newer to the industry than someone with a dubious reputation. The potential for contractor fraud also escalates after natural disasters, as fraudsters often target vulnerable homeowners looking for quick repairs.
Loretta Worters from the Insurance Information Institute notes that many scammers promise repairs but vanish after receiving payment. Homeowners must be vigilant not only during storm recovery but throughout the entire contractor hiring process.
How to Check Contractors Effectively
While many contractors are trustworthy, negative experiences can tarnish the industry's reputation. Here are three essential steps homeowners can take to ensure they hire a reliable contractor:
- Ask for Reviews and References: Start by checking the contractor's reputation through friends and family recommendations. Look for online reviews and request references from previous clients. If a contractor hesitates to provide contact information for past clients, it may indicate a red flag.
- Verify Credentials: Ensure that the contractor has the necessary licenses and insurance. All professional contractors should be able to provide proof of insurance, which protects you from liability in case of accidents during the project.
- Watch for Warning Signs: Pay attention to how contractors communicate with you during initial interactions. They should provide detailed written estimates outlining payment terms and project timelines. Be cautious if they request large upfront payments or if their estimates seem significantly lower than others.
In Conclusion, The desire to save money on home renovations can lead homeowners down a risky path when hiring contractors. While 33% may consider hiring questionable contractors, it’s crucial to weigh the potential long-term costs against short-term savings. By following best practices for vetting contractors—checking reviews, verifying credentials, and watching for warning signs—homeowners can protect themselves from fraud and ensure quality work on their projects.
In an industry where reputation matters immensely, making informed decisions about hiring contractors is essential for safeguarding both your home and your finances.
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About the Writer
Jenny, the tech wiz behind Jenny's Online Blog, loves diving deep into the latest technology trends, uncovering hidden gems in the gaming world, and analyzing the newest movies. When she's not glued to her screen, you might find her tinkering with gadgets or obsessing over the latest sci-fi release.What do you think of this blog? Write down at the COMMENT section below.
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