Remodeling spending is up and prices are 30% from their lowest point a few years ago. Add to that the higher costs of materials and you get the full picture of today's market. Remodeling projects require good planning, money, and great execution. Here are a few tips on how to get a good contractor for the job and manage the process:
- Be very clear of what you want to accomplish and make sure the contract includes the work needed to be done.
- Ask for a reference from a client who had to call them back to fix a problem with the work. to make sure the contractor follows up until the homeowner is satisfied.
- Verify the contractor's licenses and check them for reviews with the Better Business Bureau to make sure they are legitimate. To do residential building over $200 and commercial building over $5,000 in South Carolina a contractor must be licensed.
- Get the contractor's input on the plan and on any initial sketches your architect has put together. If the contractor has a lot of experience he might offer valuable feed back and ideas.
- Leave the pricing conversation to the end. Discuss the technical details first and analyze carefully any add-on suggestions.
- Never sign a contract without all of the blanks filled in. Read the contract carefully and, if the value is significant, have an attorney check it out.
- Negotiate! Ask for bids from three different contractors if the value of the remodeling project is significant. Be sure to stoke competition by letting them know that you're gathering multiple offers. Skip any bids that are wildly high or low. But be careful, you don't want to end up with a contractor who cuts corners to stay within the budget.
- Plan for a 10 to 20 percent contingency to cover the parts of the project that have to go over the initially allocated amount.
- Set the schedule of the project with the contractor, but allow some flexibility. Good contractors have to work around issues and often times good solutions require more time.
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