Finally, when you have narrowed your list of contractors down to a few, it is now time to get their bids. Again, it is important to have an honest discussion with each potential contractor and define your plans for your home renovation.
It would be useful to share any blueprints that you may have and also tell them what you’re willing to spend before you ask them for a full quote.
To compare the bids you have received, you can ask each contractor to provide a breakdown of the details for the cost of labor, materials and other expenses.
The usual breakdown should consist of materials being 40% of your total cost, another 40% for labor and other expenses and the remaining 20% should be used for their profit margin.
Once you receive a bid that you like, you can then start the negotiation process. You need to ensure that the contract is detailed and that, ultimately, you are comfortable with it before the renovation.
It also helps keep track of the renovation and the specific spaces within your home that was remodeled. A home management app such as Unaagi can help you keep track of everything related to your project, including the materials used and any specific appointments you need to keep track of with your contractor or supplier, as well as any important contact details all in one place.
It is also crucial to ensure that the necessary approvals for the renovation are obtained before starting the home renovation. This could be done in coordination with your contractor as they would be able to guide you on the procedure to follow.
So, when the work begins, it is important to remember that communication is definitely key! Working together with your contractor, you can ensure that the required guidelines are followed, including your home insurance and keeping track of other important aspects during the process.