Material prices can move a lot between the day you bid and the day you buy. Here is how experienced contractors protect their margins.
Price your bid with current data
Use quotes no older than 30 days for major materials. For steel and copper, ask suppliers how long their prices are valid.
Add escalation where it is allowed
On longer projects, include an escalation allowance or ask for a price adjustment clause in the contract.
Buy early for critical items
Long-lead items such as switchgear, elevators and structural steel should be released early, both to lock prices and protect the schedule.
Track the difference
Compare purchase prices with your estimate on every job. Over time, this shows where your estimates are too optimistic.
Want estimates priced with current local rates? Request a quote.