The best thing a homeowner can do for themselves, is understand the difference between perceived value and real value. To understand the difference, we can start by examining the meaning of these two similar, but very different things. A perceived or intangible value is the customer’s idea of what a product or service is worth and its ability to meet their needs and expectations.  Real or actual value is what the product or service is worth without any outside expectations from the consumer or seller.

The lowest price for a home project may be a perceived value; the “real value” is what the homeowner needs to strive for in their home improvement projects.  To find the real value one must understand the key details of how the project will be done.


Budget Communication and Planning

Meeting with the general contractor and going over the budget of each item, will allow both parties to understand each other’s expectations.  Budget allowances for cabinets, sinks, counters, faucets, light fixtures, flooring, and other items allow the homeowners to know what level of products they can expect in their project. 


Pride of Workmanship

The contractor’s workmanship should be considered.  A good contractor’s workmanship is not only the physical aspect of the project, but also the actions of the complete crew while on the job, how the jobsite is left at the end of a workday and the care that is taken of existing property and materials on the jobsite.  


House Project References and Builder Reputation

An excellent general contractor should have no problem in showing pictures or getting references for new home construction, renovation or home repair work they have previously completed.  Feedback from past or existing customers is a great way to ensure you will get the results you are hoping for.


Taking all these items into consideration when evaluating contractors or phases of any project, can help homeowners realize the difference between the terms perceived or real value. When it comes to home improvement, your engagement and due diligence will pave the way to happy results!