5 Ways to Save Money When Hiring a Contractor
When it comes to building a new custom home, renovating, or improving your home, it’s important to know that you’re hiring a team you can trust. Like any service, it can be intimidating to weigh the qualifications, cost and efficiency of hiring a specific contractor. These five expert tips are sure to save you time and money when hiring a contractor.
How to Save Money When Hiring a Contractor
Start with your friends and family, then use the power of online reviews to direct you in choosing the best contractor for you. Other resources for contractor recommendations are home improvement stores and building inspectors who will know which contractors routinely meet code requirements.
Conduct Phone Interviews
From your recommendations and contractor findings, make a list of questions to ask each one. Experts suggest that you never settle for the first contractor you come across. Do your research and ensure that the contractor is able to take on your project, doesn’t have too many other projects going at one time, have a long and supportive history with their subcontractors, and any other important items that would make or break your decision to hire them. Phone interviews are also a great way to inquire about the cost of your project and compare it to the cost with other contractors in the area.
Meet for Estimates
Once you narrow down your list of potential contractors, meet face to face for an in-home estimate. Many contractors will conduct an estimate for free, as an opportunity to price out your project, meet you in person, and sell you on their service, workmanship, and customer satisfaction. Take advantage of that time to learn as much as you can about how the contractor will go about your project, who will be working on your home, and how long it will take to get the project completed.
Set a Payment Schedule
Payment schedules are a good way to determine a contractor’s financial status and work ethic. For large projects, a payment schedule typically starts with a 10 percent total payment with the signing of a contract, three payments of 25 percent throughout the duration of the project, and the final 15 percent upon total completion. If a company wants half of the project total up front, or a different form of payment that seems like it might break the bank, it could be a red flag to their financial status.
Don’t Let Price Be Your Guide
A common problem with hiring a professional contractor is that people often rely on price to guide their decision. Lower project price may fit your budget better up front but could cost you more money in the long run. Lowball offers could mean that the contractor is cutting corners or doing the project quickly to collect money faster. Weigh all your options, and compare price based on what you desire, and what the contractors are able to do.
Hiring a contractor to complete your home improvement projects ensures that your renovation is getting done professionally in a way that correlates with town codes, standards, and quality of service. Finding the right contractor like Rangeline Homes for the job is the best way to guarantee your money is well spent, and the service is being done right the first time.