You bought your house because you like it as it stands, you're happy with the neighborhood and the schools and the layout of the house suits the needs of you and your family. At some point, you're going to want to make some upgrades, other times, your going to need maintenance and repairs. In either situation, you're going to want to know a contractor you can trust to conduct the work professionally and efficiently.
Established Local Business
One of the first things to look for in establishing an ongoing relationship with a contractor is to find someone who runs an established local business. Yes, you can find a fly by night “guy” who is perfectly capable of doing the work for a lower cost than the legitimate contractor charges. In spite of what the contract states, you have no recourse if he leaves town or simply doesn't finish the job. To add insult to injury, a professional licensed contractor has to undo the sub-par work the unreliable guy did before starting on the project.
Materials and Brands
Another issue to evaluate about a contractor during the bidding process is the materials he plans to use. Anybody can go by the local home improvement warehouse to buy lumber, a specialist woodworker works with several lumberyards according to what prices of lumber may be at the moment and what specialized materials ma y or not be available or have to be custom ordered according to the project needs.
References and Portfolio Projects
Word of mouth is always a reliable way for contractors to find work and for homeowners to find reputable contractors. Don't forget that just because a great contractor did an amazing job for your friends does not mean the contractor is going to do great work at your house. It goes a long way to know the contractor takes pride in his work, employs good workers, and has done great work in the past, but you also want to look through a portfolio to assure you're dealing with somebody who is experienced in the type of work you need.
The bottom line is that there are plenty of people who will approach your job with the best of intentions. You're a good person to give newcomers a chance and let them build a reputation, but for a big project your home relies on you may want to use a proven local contractor instead.