Why People Overpay on Steel Buildings

Steel Building interior

Not Utilizing Intuition

One of the main reasons consumers overspend is because they don’t utilize their intuitive nature.  Though there may not be a consensus of what is considered good common sense, most would agree it relates to sound judgement in practical matters.  In most cases of overpaying, a consumer can recall a point in the buying transaction where something seemed out of place or they felt uneasy with the situation.  Instead of honoring these thoughts or feelings, they dismissed them as erroneous and proceeded to purchase. In hindsight, they realized they were adequately informed by their nervous system to pause or curtail the process.  In other words, they did not utilize their intuition; therefore they overpaid.

Take the time to get still and ponder all of the diverse information presented and collected- both inner and outer.   You will eventually become aware of a sound judgement regarding what direction to take. Wait for this intuitive guidance of understanding, then proceed.

Not Reviewing Enough Bids

We are living in an era where reviewing 2 or 3 bids may not be a sufficient number to fully evaluate fair market rates.  Moreover, some companies are purposely overcharging in an effort to catch a naïve customer who hasn’t done their homework.  Such companies are more inclined to believe in unethical sales gimmicks. Any customer encountering this type of firm may spend as much as 100% above market price.

A wise customer collects four or more bids unless they have been referred to a company that has a proven track record of offering fair prices right off-the-bat; a rare occasion.  To clarify, the more objective data collected, the higher the probability of determining a fair steel building price. In summary, don’t rely on just any salesman’s statements, no matter how enticing!

Not Thoroughly Reviewing Items Included on Contracts and Terms

You would be amazed how many people don’t thoroughly read their contacts.  Remember, it is not what a salesman says that counts, it is what he puts in writing.  A Purchase Order will not only have pertinent information on the building, but it will also have terms of the purchase.  I must admit, all terms favor the seller; however, some terms have information that is not easily understood or is unjustified.

I have spoken to countless customers who realized after the fact that some or all the accessories they expected to get where not included. This can occur when a company list the items, yet the box next to the items must be checked for the item to be included. Needless to say, these customers were forced to pay retail rates for these items after the initial order.

Not Creating a Budget

When it comes to overspending on a steel building project, this occurrence is often brought about because a buyer has not taken the time to formulate a budget.  Without this compass, so to speak, a consumer has no way of clearly knowing how off-track they are financially as the project proceeds. There can and will be unforeseen costs.  It is not uncommon for those who haven’t formed a budget to have to halt a project because they have exhausted their resources and now need to secure an additional loan to complete the project.  It’s amazing how things tend to stay within our financial budgets when we create a budget from the start.