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In this current marketplace, many homeowners are looking to maximize value during a time where home prices and the demand for homes are at an all-time high.  Add to that, inflation has ensured that the cost of materials will be very high as well.  So if you decide to update your home to maximize your potential return if you sell your home, why is it so very important to make sure the contractor you select for your rehab is well qualified for the job?  Simply put: a bad contractor is a bad investment. Let’s face it, not all real estate related professionals are what they are cracked up to be.  No doubt some of us have had bad experiences where they, including home remodeling contractors, just didn’t deliver on completing the job the way they were supposed to, leaving you holding the ball and being stuck with an unfinished or improperly done project.  They even have TV shows now that deal with this very subject! So how can you protect perhaps your most precious material investment when it comes to choosing a contractor?  Keep these few tips in mind:

Lower Than Average Pricing

Everybody loves a good deal, right?  However, is there ever a ‘good deal’ when it comes to rehabbing or updating your home?  Sure, we all want a fair price for more expensive items or work that we pay for.  It’s also nice to get a ‘discount’ every now and then.  However, it’s usually best to beware of a contractor that seems more interested in undercutting his competition to get your business than in proper pricing for the work being done. Often, a ‘lower price’ could mean lower quality materials and less than qualified labor.  This could lead to problems down the road that may prove to be more costly than even the most expensive contractor. 

Proper Licensing and Permitting

To get proper approval in most municipalities, a permit is required. This usually requires presenting licensing, bonding and insurance.  It also requires a detailed construction plan and approvals from the municipality’s building and planning department. This can be a costly part of the project and often may take several days or weeks to get municipal approval. Beware of a contractor that is willing to bypass these requirements.  It may cost you less now but could prove to be very expensive later.

Referrals

Some of the best contractors have been found by referral. However, there is still a need for caution. When a friend, agent or acquaintance provides a referral for a contractor who does good work, it is still best to verify the work and professionalism of the contractor.  Can you see directly the work that they’ve done? If not, can you see pictures of their work?  Are there any complaints to agencies such as the Better Business Bureau? At any rate, it is best to make sure of the quality of their work.  Keep in mind that the idea of a contractor’s ‘excellent work’ is not always the same for everyone.

Don’t be swayed by all the TV shows! Not all contractors (or any professional for that matter) are created equal.  Protect yourself and your most precious material investment by making sure your contractor is a quality contractor.