With the ongoing slump in the housing sector, you now have more available builders and contractors through whom you can receive estimates/quotes for your real estate projects. While slow times such as these are definitely not looked upon with favor by the builders and contractors, for someone looking to employ their services, periods such as these can often result in some very good deals. As with any project you undertake, there are a few things you need to keep in mind here as well.
It is always a good idea to get multiple quotes (quotes from different builders and contractors) for your project. This will give you a clear picture of the ongoing market trend in terms of pricing and you can also find out where you can get the best deal. One thing you should keep in mind while getting multiple quotes is that you give the exact same information to every builder/contractor; for example, if you wish to get a particular type of wood for the wood work, you mention it to every builder/contractor.
Once you have these quotes in place, take the time to go through them thoroughly and ensure that they incorporate every detail you’ve mentioned. There are instances when these quotes include allowances allocated for set tasks. In cases such as these, you have to see if the allocated amount is enough to cover the cost of the said task. For example, an allocation of $500 for completing the tiling of 2500 sq. ft. of space should be a definite cause for concern.
Listed below are a few pointers that would help you in picking the right contractor/builder for your desired project.
See the builder’s/contractor’s certification
Ask for references and go through them
Go through their previous work to see if the experience that they carry is relevant to your requirements
Do not pay in advance for the project
Get a lawyer to go through the contract before you decide to sign it
Ensure that all the workers who are to be involved in your project are insured as well as licensed. Do not hesitate in asking for copies prior to the commencement of the work
Ensure that the quotes are signed, and are inclusive of taxes
Have your project’s plans in place before the work commences
Finally, on the day of the completion of the project, you might be asked to sign a document which would state that the work has been done to your satisfaction. However, if you have any concerns that need to be addressed, it is best to sort this out before you sign any paperwork at completion. You must remember that while most builder/contractor/client relationships are fruitful, there are a few bad ones too.
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