Before Beginning Home Renovations-Estimates!
Why Getting Estimates from Contractors Is Worth Your Time
In the current economic crisis, it can be tough to decide whether to go forward with a major remodeling project or home renovation. But as more people choose to make their current homes more functional rather than trying to sell them in this slow market, deals can still be found.
Recent statistics have the unemployment rate at an alarming 18.2% in the construction industry, causing labor prices to decrease. Homeowners should expect to see significant savings in labor. While material costs may not be keeping up with the depreciation of labor, at least shipping/fuel surcharges are no longer as common as they were a year ago. Hiring a general contractor first involves getting estimates to decide with whom to work.
Why Estimates?
Why spend the time, often weeks and months, going through the trouble of getting estimates for your project? First, even though you may have a time line and specific budget in your mind, a licensed general contractor visiting your site and talking with you in person will help you determine realistic costs in time and money. He or she may notice obstacles you had not, or (hopefully) point out ways to accomplish your goals under budget.
Meeting the Crew
Getting estimates for a renovation/remodel is essential not for figuring the cost of a project, but also as a way to meet the contractors and craftspeople who will be working in your home. A general contractor will make a visit to your site to meet with you and discuss your plans. Allow plenty of time, at least an hour, to go over what you have and what you want to have.
Ask questions, and note how well the general contractor answers them. Instinct is key here: If someone makes you feel uncomfortable, then by all means, do not agree to let them spend the next several months in your home!
Importance of Being on the Same Page
If you have plans or even sketches of your project, have copies ready for your general contractor and/or any subcontractors (such as electricians or plumbers) who will be involved. Making sure you and your contractor(s) are on the same page will save everyone headaches later on. Attaching your contact information, including email addresses, is a good idea. At this point, the more communication, the better, so the contractor(s) can clarify questions that may surface after the initial visit to the home.
The written estimate should come to you detailing everything you have discussed. Expect the contractor to take a week or two to prepare it. Red flags should wave if the estimate leaves out part of the project, is poorly organized, or does not include references.
Remember, the best estimates do not speak in "ballpark" figures, but are very specific to address the needs of your very unique project. Whereas challenges are sure to arise, professional estimates are chances for homeowners to gauge contractors' knowledge, experience, and professionalism. As always, check references and licenses. Then relax, knowing you've done your homework!
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