Money of course will play a big part in your remodeling project.
Instead of asking "How much will it cost?" ask yourself "How much can we afford?"
It will take some digging to get the answer, but ultimately you'll have a number that you can be confident giving to a lender, a remodeling contractor or design professional when the time is right.
The financial parameters or budget of your project should be determined early in the process.
Setting a budget from the start helps avoid the disappointment of having to scale back on your remodeling dreams or covering burgeoning costs you didn't anticipate.
When purchasing a new car, you're pricing a product that you can see what it looks like and you can test drive it to see how it feels. When a homeowner purchases remodeling services, he or she is buying a concept and process and won't see the finished product until well after the contract is signed.
This is the reason that bid shopping works for automobiles but not for remodeling projects.
You can ask three dealers to price a specific make and model car, and be fairly certain you are comparing like products. But with remodeling, the products could differ significantly.
There can be many reasons for a low bid including inferior materials, poor craftsmanship, inadequate safety precautions, and lack of insurance and licensing.
Or if you're lucky, the bid may just be from an inexperienced Remodeler who's never done a job like yours before.
Many factors other than price need to be considered before the best contractor for the specific project is found.
Once the plans, specifications and budget are agreed upon, it is time to execute the construction contract. Because every remodeling project is different, our company has a standard contract agreement that will be modified to clearly define the requirements of your project. This agreement has several purposes.
It will provide a written definition of your project, including all details.
Beyond the legal ramifications, a contract formally expresses terms mutually agreed upon concerning scope of work, responsibilities, price, and materials as well as other items.
It specifies how payments or draws will be scheduled, invoiced and paid.
It addresses how change orders are to be handled. It assigns responsibility for providing particular items and specifying which items are not included in the scope of work.
The contract should make you, the client, and your contractors responsibilities clear for both parties.
