HONOLULU (KHON2) — Saving money can make a positive impact during any time of the year. According to the Better Business Bureau, summer home improvement projects could be an opportunity for big savings if you know how to negotiate.
The BBB reported that getting the right price on any high-cost purchase comes down to identifying good businesses, getting multiple bids, and being willing to initiate and follow through with a conversation about the price.
While negotiating can seem uncomfortable, some might think it’s rude or assume that prices are 100% firm.
Every project is different and there is always an opportunity to respectfully discuss your unique needs, especially when it comes to costs.
Negotiation is just a conversation. If the buyer can communicate the project needs and find ways to be flexible, it may lead to saving hundreds or thousands of dollars.
Why not have the conversation? It never hurts to ask.
Anyone interested in becoming better at negotiating should consider the following tips:
Research fair market prices first to have a point of reference for negotiating.
Get multiple bids. Shoppers should get at least three estimates from three different companies that they feel good about using. Find trusted businesses and use the free “Get-A-Quote” tool.
Leverage your options, respectfully. If the top choice is pricier than the rest, use the other companies’ estimates as a reference to ask if there is any flexibility in this company’s pricing. If not, be okay with walking away and using the second or third choice.
When having these conversations, be respectful and stay true to your budget. The goal of negotiation isn’t to take advantage but to get a price that is beneficial for everyone involved.