Over the past few years, the rate of development in the real estate industry has been on a rocket flight. This may not be the case all around the globe or even in your region, but the era of the revolutionized building industry is upon us. Scratch that, but a real estate property is a huge investment that can give you a lifetime financial advantage. This means that whenever constructing a building or modifying one – residential or commercial – it pays dearly to hire a construction company who knows what they’re doing.
However, the planning and construction industry is flooded with contractors and subcontractors, most of them claiming to be the best at the job. Some swear by their moms’ names that they offer the most affordable services on the market, deliver on time, and their job quality is always exceptional. But it’s a bit sad that the story is often sugar-coated with a majority of these contractors. When hiring a construction contractor, you want to be sure you’re employing the most qualified guys as the integrity, aesthetic appeal, durability, and value of your property depend on it. The contractor you hire will also determine the amount of money you spend on your particular project.
To make the entire process smoother for you, here are some 8 tips to find a reliable and affordable construction company.
1. Consider Your Project Type
Before you even start looking for a construction company, the first thing you’ll want to do is consider your project needs. Do you need your future home build from the ground up or are you looking to add some more residential units on the real estate property you already have? Let’s say you have some visitors or family (elderly/in-law) members that need to stick around longer in your home in San Jose, Ca, and you can’t have them sleeping on the couch for the entire duration they’ll be with you. In this case, you may want to work with a construction company that specializes in Accessory Dwelling Units (ADUs) in your local area, and you can get a good contractor using these tips, as Stan Acton from Acton Construction advises. Choosing the right construction company for your specific project will go a long way in ensuring you get the best results and minimize hiccups along the way.
2. Consider Contractor Experience
It’s not only the best teacher, but Experience is the mother of perfection. For any building task to be completed to high standards, it takes brains, hands, and eyes of experienced individuals. For the best results in your construction project, you’ll definitely want to hire an experienced construction company.
3. Search According to Your Budget
Different construction companies may have different prices for certain projects. Despite the fact that some companies are more over-the-top than others, your project costs may also depend on factors such as project size and the materials used. This means that you’ll need to tread carefully when choosing a construction company based on what they charge. If you’re looking for a construction company on a budget, you’d best stay away from companies who provide an offer too low. It can also be a bit naturally suspicious for the price to go too high.
4. Seek References
Just as you can do when seeking for any other kind of professional, references are critical to anyone looking for a reliable construction company. A good contractor will always feel enthusiastic about providing their references, unless, of course, something is amiss. Always follow up on provided references or previous clients to find out their experience with the contractor you’re interested in. This may also help verify any positive or negative reviews you may have come across online but at the end of it all, reputation matters a great deal.
5. Realistic Project Timeline
Of course, a constructor needs to tell you within how long they can finish your project. Some of the best construction companies actually break it down to you into several milestones, so you can always stay abreast of your project’s progress. The amount of time required to build a house may vary depending on the size, the materials used, manpower, weather conditions, funding, and a wide range of other factors. steer clear of construction companies who promise completion in two weeks for a house that should take at least 6 months to finish. The timeline should be realistic.
6. Licensing and Insurance
A considerable portion of the business world is composed of corrupt, quack, and half-baked professionals. Some are in their businesses illegally and could either get you into trouble with the law or get you into serious trouble. While licensing assures you of professional services from construction companies, making sure that they’re insured will go a long way in sparing you from liability, say when one of their employees gets injured on the worksite. Insurance can also protect you in construction projects where you think, feel, or it is evident that the job was badly done.
7. Interview to Various Contractors
Whether you’ve searched on Google, gotten several referrals, or derived inspiration from online reviews, never settle for the first company you get into contact with. It’s best to compare and contrast at least 3 or 4 contractors so you get more informed on how to choose the best one. In your interview with the prospects, some questions you’d want to ask may include:
- How long have you been in business?
- Who are some of your previous clients?
- Can I get your license number?
- Can you provide a copy of your company’s insurance policy?
- How much do you charge for such a project?
- What’s your average TAT on similar projects?
8. Sign A Detailed Contract
Finally, when you’ve done all the considerations and you’ve settled for a particular construction company, always ensure that there’s a detailed agreement. Before signing it, go through this legal document, in the presence of the contractor’s rep, after consulting a legal advisor if need be. The contract will obviously have to be signed by two individuals or more since it’s an agreement between you and the construction company, so it will have several dotted lines. But before signing, ensure that the contract clearly indicates crucial details such as:
- Legal names of contract parties (the construction company and you (the client)
- The particulars of the project (including costs)
- Project deadlines
- Payment terms and modes
- The roles of both the contractor and client
So many things are involved in construction projects. So many risks may also be lurking, both to the client, the constructor, and their employees. Without a duly signed contract, even insurance companies or the court may not be able to intervene in case you suffer losses or liability at the fault of a construction company.
All the same, reliable construction companies are not a walk in the park to find. And if you do manage to find them easily, some can be overly expensive. With the above few tips, however, it shouldn’t be difficult to find a construction company that is both reliable and affordable.