It’s always fun to play the role of handy man
(or woman) when it comes to making the home improvements you have always
dreamed of, but there are times when hiring a professional just makes more
sense.
Skilled professional contractors do amazing
work, but their work can come with a surprisingly hefty price tag if you’re not
careful.
With more and more people tapping into home
equity loans for the purposes of making home improvements, it’s important to
know how to get a fair (or better) deal from professional contractors before
you put them to work.
Here are some
tips for making sure you’re getting a good value:
Pick the right
specialist- With a range of evolving
construction codes and regulations; it’s important to pick a contractor who is
experienced in doing the exact type of job you’re asking for. Inexperienced
contractors don’t work as efficiently, which can add up to extra costs down the
line.
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| It's important to check your references and ask questions before hiring a contractor. |
Ask plenty of
questions- Taking the time to interview
potential contractors with a few quick phone calls could save you plenty of
cash. Inquire about their current
schedule of jobs and work load, what work they have previously completed and
how often they take on projects that are similar to yours.
Check
References-Take time to call
references. Ask not only if they were
happy with the quality of work, but if the contractor did the work on time and
on budget.
Create a
payment schedule- Contractors will feel more
inclined to deliver top-quality work if they are paid as they go. Some may
request majority amounts of the bid up front for long-term work, which could be
a red flag that they may not feel comfortable with you paying the whole amount
after seeing their completed work.
Consider
choosing a local contractor- Local companies may be more
motivated to do the best work in their area, since they have a reputation to
protect. You’ll also be supporting your community’s economy by “going local."
Home improvements can add serious value to your home, but
they can also be expensive. Home equity loans are available at a great rate at
Community Financial. Visit
this link to find out more.
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