The stress of owning your own home seems to never end! Everyone has heard nightmare-ish stories regarding contractors, so how do you protect yourself from experiencing it as well? Do your homework! (geddit geddit?) Here, we present to you a guide to ensure you are getting the most out of your money as a new homeowner.
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Get a ‘legit’ contractor
As the saying goes, ‘nothing good ever comes easy’. Now that we are adults, we understand that ‘easy’ could be used interchangeably with ‘cheap’ too. Do your research on the contractor – read reviews, recommendations, make bankruptcy checks, anything that would help you gain insights on the contractor. This minimizes your risk of an MIA contractor, halfway through completing the job.
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Shop for quotes
Take your time to meet with a few contractors, get a feel of how each would do the job needed (almost like conducting a job interview). Ask them questions regarding hidden costs and how they’d deal with it. This would allow you to sieve out those contractors that are overcharging you.
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Get a proper contract
Be as detailed as possible, and make sure to state exactly what you are paying for. This includes the product, service, deadlines and payment agreement. In addition, you should state action steps in case of any violations and ensure that all verbal agreements are included in black and white.
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Stagger the payment
Never pay 100% at the start, as the contractor may be complacent with the money. A progressive payment scheme should be used so that you’ll have more control of the project overall. This means that you pay for whatever percentage work is done. Make the final payment only after flaws and faults have been touched up and fixed.
Although there is no fail-safe way to ensure the perfect contractor, we hope that these steps can help you in some ways. Remember to take your time, and that research is key!