Nov
26
2016

What You Should Know About Houses This Year

Hiring a Home Renovation Contractor Plenty of Americans choose to stay in their homes, with the sluggish housing market, and they would rather remodel. In 2015, the remodeling industry experienced a five-year high, based on the National Association of Home Builders’ Remodeling Market Index (RMI). If you’ve been thinking to remodeling your home and finding the right contractor, the following tips will be helpful: 1. Vet contractors and their estimates.
Smart Tips For Finding Remodels
While you learn about a good contractor via word of mouth, customer reviews online are a good starting point as well. Search the Better Business Bureau (BBB) website, where there are more than a hundred thousand reviews of mainly BBB-accredited contractors. Moreover, read consumer review websites to get more ideas.
Smart Tips For Uncovering Remodels
Before hiring anyone, talk to a few contractors in your area and work with three bids at least. The potential contractor may give you with a list of references, but a better way to know about a contractor’s work quality is by visiting one of their existing job sites. Ask the homeowner if the workers come to work on time and are responsive to phone calls. 2. Look out for red flags. With the huge number of con artists out there, you have to be skeptical the moment a contractor: > Pressures you into hiring him; > Accepts cash only (often an indication of paper trail avoidance) > Refuses to get a building permit (any substantial home improvement project must have one one); > Knocks on your door and offers his services (some good contractors may do that, but be always be careful); > Offers a cheap job using materials leftover from a previous job; and > Gives you a final estimate without seeing the job. 3. Check if they have a license and insurance. If you live in a state that licenses contractors, you can probably do a license check online. In terms of insurance, hire someone who has both worker’s compensation coverage as well as liability. 5. Get everything in writing form. Some obvious items that must be included are the beginning and end dates of the project, the budget, the materials that will be used, warranty and subcontractors’ names. In the event that the budget must be changed somewhere along the project for whatever reason, both parties must sign. Of course, the contract dictate the payment schedule, which usually comes in three parts: the down payment (usually 5-10% of the total cost of the project), progress payments, and the final payment. The last payment is about 15 % and is given after you’ve made sure that the contractor has fulfilled every part of the contract. Finally, one thing people overlook when creating a contract is the protocol for ien waivers. In case the contractor fails to pay the subcontractors, they can come after you legally, and you could end up paying for your renovation twice (since as you would paid the contractor beforehand. If subcontractors who were part of the project go unpaid by the contractor, they can legally make you responsible, and that means you might have to pay them again, apart from what you would have already paid the contractor. You can avoid this scenario if you require your contractor to produce lien waivers.

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