Rerun the net after each repair bid
When a written bid arrives, put that number in the calculator before you agree to the work.
A bid is a fact. A guess about what the work will cost is not. When a written bid arrives, type that number into repair costs on the calculator before you agree to the work. Read the new net out loud and write it under the bid. If you skip this, you are approving a project without knowing what it does to the money you planned to walk away with.
Compare that net with the walk-away number you wrote before you listed. If the net falls below that line, you have three honest choices: skip the project, raise the list price on purpose, or accept a lower net and change the page. Do not do the work and hope an offer will cover it. The bid will not shrink because the kitchen looks better in a photo.
Keep the bid with the calculator printout. Later, a buyer who asks for a credit is easier to judge against a number you already accepted or refused. If you declined a $1,800 bid, you should not be surprised by an $1,800 credit request for the same item. Write on the bid whether you approved it, and the date. One page, not a text you cannot find.
Ask the bidder what is included before you type the number. A price that excludes haul-away or a permit is not the full cost. If the bid is a range, use the high end for the calculator and label it. You can be glad if the invoice comes in lower. You do not want the net to depend on the low end. Rerun the calculator again when the invoice arrives if it differs from the bid you approved.
What to do
- Enter the written bid as a repair cost before you agree to the work.
- Compare the new net with your walk-away number.
- Skip the project, change the price, or change the walk-away number on purpose.
- Save the bid, what it includes, and the printout together.