A home remodeling contract is something that homeowners don’t always read, and it’s an important document that should provide details about when payment is due, the responsibilities of the contractor, and the specifications of the project.
An interesting survey conducted by Angie’s List revealed that almost a quarter of contractors don’t even require a contract before they begin work on a project. However, it’s important to have a contract for any project even if it’s a small project or the contractor doesn’t require one.
Here are a few important terms and conditions that you should look for in your home remodeling contract.
Overall Job Description. The job description should list all the details about the project, as well as where the responsibilities lie for each facet of the project. The description should include the names of the individuals who will be working on the project, as well as details on who will be providing the tools and materials for the work.
The description should also include information about when and how the contractor may enter the home, as well as whether the contract can be modified and, if so, by whom.
Project Schedule. You’ve probably read stories about home remodeling projects that have gone haywire and haven’t been finished on time. You may have even heard about projects where the contractor didn’t finish the job, and it was necessary to call in another professional.
A contract can help you avoid huge issues with the schedule. The project should have a starting and completion date, which should offer you a general idea of how long the work will take. Delays can always happen at one time or another, but the existence of a contract should minimize them.
Payment Terms. There is no single way to arrange payments when it comes to home remodeling projects. It’s common for contracts to require a partial payment at the start of work, and additional payments may be required throughout the project. The contract may also require partial payments throughout the project’s timeline, or it may require full payment when work is complete.
Up-front payments of some of the overall costs are often required when there are materials that the contractor must purchase for the project.
Itemized List of Materials and Labor Costs. An experienced home remodeler will always know exactly what materials will be needed for a project, and will usually be able to provide you with an estimate of basic materials costs and labor costs. Your choices on materials may change the eventual costs for the project, but the contract should spell out all of the details for the materials.
The itemized list will also feature costs for labor, which may be billed on an hourly basis or on a project basis. Some contractors will offer an overall price for the project that includes labor and materials, and other contractors will estimate the labor costs by the hour and will provide an estimate of how many hours they believe the project will take.
This list of contract terms is by no means exhaustive, and it’s also important to make sure your contract has details like a proof of license, insurance and bond info, and a clause that allows the homeowner or contractor to bow out of the project without a penalty.
Plan Your Home Remodeling Project Now with Gettum Associates, Inc.
We’re a full-service home remodeling company that can help you with every facet of your green remodeling project, from design and planning to execution and completion. Let us bring our expertise in design and remodeling to help you create a dramatic and beautiful exterior for your home.
Call us at 1-317-542-3853 for more information on our services, as well as to discuss your home remodeling project and how we can help. Plus, if you’re ready to get started on a renovation project, you’ll want to download our guide: Seven Questions to Ask When Choosing a Remodeler in the Indianapolis Area.