October 1, 2020
Price is the actual money or investment made in the product or service and cost is the amount of time that you enjoyed that product or service before needing another one.
In the renovation industry, everyone is looking to see if they can get a better bang for their buck. “Maybe the contractor will let my brother-in-law do the electrical so I don’t have to pay his expensive electrician.” This is hilarious but it has actually been requested. What if I pick up all the drywall and strap it to the roof of my Honda Civic to save the delivery charge. This is so funny I’m almost laughing just thinking about it but it does happen.
Sometimes it is just worth the price so it doesn’t cost you more in the long run. Like all that drywall dust you have to scrub off the roof of your car.
I think this depends on what you’re looking at. In the renovation and construction market, the cheapest guy might be the perfect guy to dig out your pool. After all, all you’re doing is moving dirt. If the guy does what you need him to do everything is good. If he backs his truck into the side of your house and he doesn’t have insurance then it costs you the cheap price plus what it cost you to fix the side of your house. LOL, this is obviously an extreme example but it happens.
I know this seems like a slightly humorous subject but it’s important to realize sometimes it is just worth the money to see if the cost of frustration or additional expenses that you didn’t anticipate. A perfect example is I was meeting with a potential client recently and they mentioned that they had installed a stone material during one of the renovations and it was never properly sealed. At some point, something got on it and stained it and now they can’t get it off. They will never get it off and the only way to fix the problem is to change the surface at some point. I bet if they had the choice now to spend the extra couple of bucks for the company that was going to seal the stone properly and show them how to do it afterwards, it would’ve been worth the extra.