ym4 MsFiscallyFit.com - mutual funds and mutual fund investing basics for women investors and beginners

Ms Fiscally Fit
Helping Today’s Woman Plan for Tomorrow

Your Money by MsFiscallyFit

Home   Investing   Mutual Funds   Career   My Own Biz    Your Money   Shop  

Your Money
Common Dollars and Sense Advice

Avoid Remodel Rip-off - How to Hire a Contractor

Recently, I heard some friends of mine rant and rave about a contractor that they hired to do some "work" on their home and all the problems they had. This prompted me to ask a friend, who is a general contractor, to write an article for our readers on how to properly select a competent contractor so that they could avoid an episode from the "The Remodel from Hell". There is no magical cure, but here are three simple steps to protect yourself from an unhappy experience.

    • Get it in writing and keep it in writing
    • Check references
    • Confirm legitimacy

Get it in writing and keep it in writing

Planning is the most important aspect of getting any work done on your home. From a full-scale remodeling job to just having some service/maintenance work performed on your home, you should take the time to organize your thoughts (write them down if necessary) so you can be as specific as possible with the contractor to eliminate any misunderstandings. Your home is probably going to be the biggest investment in your lifetime. You do not want to involve it in any litigation over a contract dispute between you and your contractor. Even if you are only getting your drain cleared, you need to get a written estimate before you allow anyone to work on your home. This written estimate should detail all the work that is to be completed by the contractor. It should also detail a payment schedule and a completion schedule. Ask specific questions and ask that these items be written down in the estimate for clarification. Do not allow the contractor to answer, "Oh, yeah. Don't worry. That's included." Never allow yourself to relax this important point. Get it in writing then nobody will have to rely upon his/her memory whether it was included or not. Anytime there is a change to be made that is different from the original scope of work, make sure that the change is put into writing also. This simple step will be well worth it. Make sure you get at least two estimates (three or four are better) for the work to be done. Also, be sure to give each contractor EXACTLY the same information. This way you can compare "apples to apples".

Check references

If you were hiring someone for a position at your company, naturally, you would check their employment references? Well, hiring a contractor is the same. In fact you are the company in this case because the contractor comes to work for you on your home! Ask the contractor to provide you with no less than three names of people in your area that have hired the contractor to do work for them. If you can't get references from the contractor, find someone who has references. Call the references, explain to them who you are and why you are calling and ask some simple questions as to the credibility and effectiveness of the contractor and the quality of his/her work. Here are some sample questions:

    - Did the contractor complete the project in a timely manner?
    - Did the contractor repair items of questionable and inferior craftsmanship?
    - Were you happy overall with the quality and effectiveness of the contractor?
    - Would you hire the contractor again or would you be willing to recommend the contractor to other people?

Add to this question list any areas that concern you the most and don't be afraid to ask. Doing your due diligence NOW will prevent you from doing your due diligence later in a lawsuit. Make sure you ask the same questions about each contractor to obtain an "apples to apples" comparison.
 

Go To Page 2
 

Go To Your Money Home Page
 

E-mail suggestions and comments to:
 infomaster@msfiscallyfit.com

All Content Copyrighted by MsFiscallyFit.com unless otherwise noted
© Copyright 1999 - 2009 MsFiscallyFit.com All Rights Reserved

Sign Up for
Ms Fiscally Fit’s Newsletter
and we’ll put you in a drawing for an incredible bonus of
3 Day 2 Night Getaway

 

This is not a timeshare.
There are no presentations to attend