backing out of renovation project

I signed a labor agreement and made a relatively small downpayment of $1,000. I haven't closed on the co-op yet and therefore the company hasn't submitted the alteration agreement. I haven't ordered anything with the company or even set a date for when we would start the renovation. I had multiple consultations before I chose them, but now the more I research I see how many things can be done on my own or outsourced for much less than they proposed. I want to back out of the contract but its well after the 3 day period I had after signing it. How do I go about doing this? Thanks!