There are steps you can take to ensure that a home renovation project doesn’t turn into a major expense that requires a second mortgage on your home. Follow these pointers next time you are considering a home remodel.
Routine upkeep is an excellent way to extend the life of your residence and home appliances, reducing the investment you’ll need to invest in professional for repair work or replacement.
Monitor warranty periods so that you don’t lose out on free fixes.
Do your homework when you are considering having a home improvement or remodeling project done. Get a good estimate of the process and approximate rates in your location. (However, be open to input from a seasoned contractor as well.) Learn whether permits and assessments will be required for the project you have in mind.
Be sure to check in with your insurance coverage supplier prior to hiring a specialist, for two factors. First, if you’re having repair work done which will be paid for under your homeowners policy, your insurance provider may require you to utilize one of their authorized contractors. Second, although your professional needs to have building insurance coverage, you yourself may require extra coverage while the construction work is going on.
Be specific about what you want when you call for a price quote– not simply “some house painting” however “walls and ceilings of a 2000 square foot house, using no-VOC paint,” for example. Do not expect to obtain a precise figure on the spot– a good specialist will put effort into preparing a bid.
Get quotes from 3 or 4 different specialists for comparison. Don’t jump at the most affordable cost– or the highest one, for that matter. Instead, try to find indications of a trustworthy specialist, like current licensing and insurance, excellent references from satisfied clients, a clean record with the BBB and your local Chamber of Commerce, and a desire to go over how he or she will tackle your task.
Another home remodel tip from professionals is, do not accept a non-written quote for a medium- to a large-size project. Look beyond the bottom line on a quote, going through all the details so you understand exactly what’s included. Don’t count on what you and the specialist settled on verbally. Remember, if it’s not documented, it’s not part of the services you’re contracting for.
See if there’s any room to negotiate the cost. You may have the ability to cut the expense by doing a few of the tasks yourself (such as removing your old floor covering and hauling it away for recycling), leaving the expert tasks to the contractor. Do not expect to cut an offer on the expense after all the supplies have been purchased and the work is done.
Be clear about how you are going to pay for the work … and we’re not just talking credit card versus personal check. Ensure you have the funds lined up and easily available.
Prepare yourself for the occasional expense overrun. The usual suggestion is to allow an extra 10-20 percent above the job’s estimated cost, in case of unexpected expenses. (For example, you may have a crew re-tile your bathroom and find that the wall beneath is rotten, needing major repair.).
Go through all the information of the agreement you sign for the work to make sure that no crucial info is missing (like the exact color of the paint you want, for instance). And a point worth repeating: if it’s not written down, it’s not part of the services you’re contracting for.
Prepare. Move large pieces of furniture out of the way (unless that is the specialist’s task according to your written arrangement), stash breakables, and put away prized possessions.
Pay on time. Stay with the payment schedule written out in your contract to avoid potential legal troubles and fines.
Designate one home member as the go-to person, easily found personally or by phone to authorize– or veto– unforeseen extra expenditures. Life happens and sometimes part of your strategy has to be rethought quickly. Get the amount in writing, though.
Square One Home Improvements has over 35 years of experience in home remodel and improvements. Call us today for a written estimate of our next project.
Square One Home Improvement
Myrtle Beach, SC 29577