With the spiraling cost of new construction renovating your current home or apartment might be a better option than buying a new home. By following these simple guidelines you can make the process of renovating your old home hassle-free. People who are planning to buy a used house or flat can also benefit from these guidelines.
Decide whether you will use a contractor – Based upon the size of your renovation project, and how much time you have to supervise and manage the various tasks, you will need to decide whether you want to hire a contractor who will own the entire project or not. If your budget is tight and you don’t plan to move out your house while it is undergoing renovation then you might consider managing the entire project on your own.
Find a contractor to do the job – It is strongly recommended that you find a turn-key contractor to manage the entire renovation project. This articles assumes that you will use a contractor but the guidelines are applicable just the same, if you decide to do it on your own. By way of referral or yellow pages/ads find and meet a contractor who has experience with renovation projects. Ask him for a preliminary plan and estimate and also check on his references. Make sure that he has completed projects of a similar size and scope as yours. You can also ask to meet with a few home-owners who are his references.
Develop a Plan and Estimate – Ask the contractor to give you itemized estimates for each task broken down further by labor and materials. Also ask him to give you a step by step plan on getting the renovation done. This will enable you to verify his construction-savvy and test his planning skills. Ask the contractor to give you a separate estimate based upon the fact that you will buy and provide all the major materials like tiles, paints, plumbing fixtures, etc. Based upon the materials estimated do your own shopping by talking to retailers and dealers for various materials required. Tell the contractor that you will be a very good reference for him if he completes the job under budget and with a high quality.
Sign a Contract - Ask your contractor to write-up a contract or use your attorney to write one for you. This is a cheap but highly effective way to protect your interests, document payment terms and any warranty requirements. Also make sure you put into the contract that the last payment will made 15-30 days after completion. This will ensure that you have lived in your renovated house for a few days and can identify any problems and get them resolved. The contractor should also be responsible for cleaning up/disposal on a regular basis – all debris inside and outside the house. Also ask the contractor to start work after about 30 days. This will enable you to gather funds and negotiate material purchases carefully. You should also plan to notify your neighbors and home-owners association/society about the planned renovation.
Buying your materials – When shopping for building materials try to find dealers/distributors especially if your purchase amounts are significant. Negotiate 30-day credit or credit card purchase and the facility to return any defective materials as well as unused materials. Also ensure that the materials will be delivered on-time and if there is any penalty if the distributor does not deliver on-time. You are better off settling for materials or fixtures that are always in stock instead of special ordering materials. Visually inspect all materials you are planning to order. Also ask your contractor to accompany you on such visits.
Inspecting the Work in Progress – Using the plan that your contractor has provided you monitor the progress of work on a regular basis. Also make sure that jobs are being done to your satisfaction and don’t hesitate to ask them to redo the job if necessary. Frequent monitoring will ensure that rework if required is minimal and there is no wastage of materials. The important thing to note is that you want to employ tact when dealing with issues during the project. Try not to quarrel with the contractor as it will become very difficult if he abandons the project midway.
Moving into your Renovated House Plan to move into your renovated house soon after renovation is complete. This will enable you to quickly find and resolve any issues that you might find. Write up a list of any issues and ask your contractor to get them resolved.
Making the Final Payment Make sure that the contractor has finished all the tasks and has addressed any problems that you have found. Try to negotiate any deductions to the final payment based upon any delays or problems with workmanship. Make sure you maintain a positive relationship with him so that he will come back to help you out.
Comments
Post new comment