Hiring a Contractor
BUYING A HOME TO RENOVATE
Buying a home to renovate is a great way to bring new life to an old home. There are great neighborhoods in Raleigh that offer convenience to great shopping, restaurants and schools that you often can’t find when shopping for a newly built home. When you find the right home and are ready to begin, be sure to hire a contractor that is able to complete the work you want done and provide the quality and materials you need.
This is another area where we can provide expertise as we can help you interview contractors, review their estimates and provide feedback to assist you in moving forward with confidence in your decisions. Keep in mind, however, that the selection of the contractor has to be your final decision. Scared? Don’t be. We’ve got some tips that can help guide you through the process. (Link to 8 Tips For Hiring A Contractor).
One of the biggest mistakes we see is choosing a builder or contractor based solely on price. Beware of getting what you pay for! Another mistake that will haunt you down the road is not completing the permit process. Be sure the appropriate permits are in place for any and all work completed on your home because if you don’t, you won’t recognize all the profit of your hard work in the future when you want to sell your home.
We are here to help throughout the process. If a term of the contract just doesn’t seem right, or if anything else makes you uneasy, feel free to ask us. Remember, Scott is not just a broker, he is a licensed general contractor with extensive building and renovation experience.
Another thing to keep in mind in the beginning phases of a renovation project is a contingency. I recommend setting aside 10-20% of the contract fee in case an unforeseen problem arises. For example, contractors sometimes find dangerous conditions like mold or termite damage. Repairs are usually necessary in these cases to keep the house in compliance with building codes. A contingency would allow you to finance these repairs without having to sacrifice any of your improvements.