How to compare contractors' bids

Home renovation projects are significant undertakings. It is common for homeowners who may not have the time nor the expertise to do the work themselves to call in professionals to tackle these jobs.

According to the home improvement resource HomeGuide.com, for a bathroom remodel, which is one of the more popular improvement projects, installation and labor accounts for 10 to 25% of the total project cost. In general, many contractors pay themselves $300 to $500 for an hourly rate, while helpers may make $150 per hour.

Materials used account for the other components of an overall project cost....