Things to Never Tell a Contractor

Posted on by

A contractor can be your source of anxiety and stress if you are not careful when hiring them. A pal of mine by the name of Austin Sims once shared with me that with his 30+yrs experience in the appliance repair business, that your contractor can be your greatest resource when you take time to hire the right professional. Just like there are things you should talk about with your contractor, there are things you should never say to your contractor.

Here are some of the things to never tell a contractor:

Nobody Else is Bidding for the Job

It’s advisable to get at least three bids for a construction project. More bids are always better. This allows you to compare different bids to get the best deal for the project. But, if you only get one contractor bid for the job, don’t tell them that they are your only choice. Doing so will give them bargaining power. Make sure that your contractor believes that you have options.

Don’t Disclose Your Budget

Don’t let the contractor know the amount you intend to spend on a construction project. If a contractor knows that your budget for the project is $20,000, they will look for a way to bid for $20,000. Therefore, make sure that it’s the contractors who specify the bid for the project. This will enable you to compare labor and material costs provided by different bidders.

Never Tell Your Contractor that You Are Not in a Rush

If a contractor knows that you don’t want your project to be completed hurriedly, they can take years to complete it. A contractor can accept other projects or spend time on other things instead of getting your project completed hurriedly. Therefore, communicate timeliness of your project and chat out timely expectations regarding the completion of your project.

It’s also important to avoid allowing the contractor to choose building materials. Additionally, avoid making the contractor know that you are ready to pay a high amount of deposit. Instead, stick to paying 10% only as stipulated by the law.
…

Read more

Factors to Consider When Getting a Construction Loan

Posted on by

So, you’ve decided to get a construction loan to fund your project. However, you don’t know much about these loans. Well, the most important thing is to consult your contractor before you get a construction loan. Your contractor should tell you about your building project’s timeline. Also, they should explain factors that can slow down your project, like inclement weather.

After discussing such details with your contractor, decide whether to go via the loan process twice or once. Also, consider the closing costs and fees you will pay to obtain the loan. All these will increase the total cost of your construction project.

Getting your construction loan entails more than accounting for your house building costs. In some cases, you may need money to buy the lot or the land to build. Therefore, decide how you will handle the total construction cost later. One way you can do this is by getting a permanent mortgage after building your house. If that’s your preference, a construction-to-permanent loan might be an ideal option for you. That’s because it enables you to avoid several closings.

Getting a Construction Loan 

Having the lender approve your construction loan might seem like obtaining a traditional mortgage. However, you have to meet several requirements.

Here are the qualification requirements for a construction loan: 

  • A stable income
  • Excellent or good credit
  • Low debt-to-income ratio
  • At least a 20% down payment

Before you make an application, meet with your architect, get plans and drawn specifications, and negotiate a contract. That way, you will know the total cost of your construction project and the amount to borrow.

The lender will review your payment history, income stability, savings, and the ability to pay back the loan. What’s more, they will check your specifications and plans. They will also obtain a property appraisal to support your collateral value.
…

Read more

How to Schedule Your Construction Project

Posted on by

A construction project is not easy to complete. Delays are very common in construction projects. That’s because of the many moving parts, equipment, materials, and teams that are involved in a construction project. To ensure the timely and efficient completion of your construction project, you need a well-thought-out schedule. Here is a guide on how to schedule your construction project. 

Get Tools and Information 

Start by listing all parties that will be involved in your construction project. These include suppliers, contractors, and subcontractors. Once you hire these professionals, ask them about the duration they need to source the required materials. With this information, find out how long they will take to complete their part of your project. 

Also, use the right tools to manage your construction project. You can use online tools to come up with a construction project schedule. What’s more, you can use a cloud-based tool that allows you access to all the information you need in real-time. 

Prioritize Tasks 

Your construction schedule should highlight the tasks to be done and the professionals to complete them. Break down the tasks based on their importance. List every task where it should be on your priority list. Also, highlight the scope and size of every project. Make your deliverables visible to make it easier for you to track them. 

Add Duration 

Assign every task the time it will take to complete. Include extra time just in case something unavoidable makes it had to complete the task within the scheduled time. Your determinations should be realistic because a construction project can be delayed by inclement weather. 

Allocate 

At this stage, you should be ready to allocate the tasks to professionals. Make sure that every team knows the time it has to complete a task. Also, find out whether every team is comfortable with the allocated time for different tasks. 

Review 

Go through your construction project schedule to ensure that everything is okay. Also, make sure that every involved party is comfortable with the stipulated schedule for the tasks they are expected to perform.

Even with proper scheduling, something unexpected can happen and hinder the successful completion of your project within schedule. Therefore, stick to your schedule but have room for the unexpected.
…

Read more

Financing Your Dream House with Construction Loans

Posted on by

A construction loan pays for renovation or home building. However, the appraisal, approval, and disbursement processes vary from those of traditional mortgages. 

Construction Loan Definition 

A construction loan is a shorter-term mortgage with a higher interest rate that covers the cost of rehabilitating or building a house. A construction loan lender pays the loan to a contractor rather than the borrower. This loan is released in installments based on the progress of the construction project. The loan can be paid fully or converted into a permanent mortgage upon the completion of the building. 

What Is Covered By a Construction Loan? 

Construction projects are different. That’s why you should talk to your lender about the terms of your loan. 

However, a construction loan will pay for the following: 

  • Land or lot for building a house 
  • Permits, plans, and fees 
  • Materials and labor 
  • Closing costs 
  • Interest reserves 
  • Contingency reserves 

How a Construction Loan Works 

A construction loan may not require collateral. That’s why some lenders are nervous about this loan. Thus, most lenders put borrowers through several looks before approving the loan. In most cases, the lender will inspect the architectural plans, the builder, and the finances of the borrower. 

As hinted, a construction loan disbursement is done in installments. And, it is paid to the builder in draws. The draws coincide with the phases of the construction project. These phases can include foundation pouring, framing, and finishing work. What’s more, every draw requires an inspection and the amount to be disbursed depends on the completed work. 

Some lenders also give home remodel loans. These are ideal for borrowers that want to upgrade their houses. The costs of repairing a house can also be included in the permanent mortgage. The amount that a home remodel loan can provide depends on the estimated value given by an appraiser after the upgrades or repairs. 

Requirements for Construction Financing 

In most cases, lenders consider the following before approving a construction loan: 

  • Debt-to-income ratio
  • Credit score 
  • Repayment plan 
  • Down payment 

It’s also crucial to choose your loan lender wisely. Look for a lender that understands your needs and is ready to give you the best interest rate and terms.
…

Read more

Best Pet Features to Include When Building a House

Posted on by

If you are planning to build a home that will also house your pets, various special features should be included to make it safe and comfortable for both of you. With the right pet features, you will be able to keep your pet happier while also preserving the integrity of the building. Nevertheless, the following are some of the best pet features top include when building a house. 

Designated Indoor Pet Spaces 

If you plan to keep pets in your new home, it is important to create designated areas where they will be able to play and maneuver without stepping outdoors. An example of such spaces is an in-built window seat for birds. If you plan on keeping a dog, you may want to consider a designated lounge where they can relax indoors.

Mud-Room 

For homeowners who keep dogs, you should consider building a mud-room at the entrance to prevent them from bringing dirt into the house. You can use the mudroom to clean the pet after walks in the park so it does not bring any foreign materials into the house. 

Indoor Feeding Areas 

Having an in-built feeding area for your pet will reduce the mess caused whenever they are feeding while also shaping their habits. Indoor pet feeding areas will also help to keep your home tidy. 

Pet Sleeping Areas 

When building a house that you will share with pets, it is also important to include special sleeping sections just for them. Although some people may want to share their beds with pets, having designated sleeping areas for pets creates order in your home while also helps with streamlining their sleeping habits. 

Overall, there are several pet features that you may want to include when building a house. But, the ones listed above are critical to the happiness and safety of your pets at home. 
…

Read more

How to Choose the Lot to Build Your New Home

Posted on by

Building a new home is a great achievement that should be met with a lot of excitement. However, concerns usually arise when it comes to choosing the lot or land to build the house on. In case you are wondering how to go about it, read the following tips on how to choose the lot to build a new home. 

Characteristics of the Land 

Before settling on the lot, do a little research to understand the general characteristics of the land. Find out if the landscape is green, woody, rocky, swampy or an open stretch. That is important because it will determine whether it will provide the desired environment in your new home. 

Knowing the characteristics or topography of the land will also enable you to determine if there is any extra works required before the start of the project. Taking a tour of the area can help you gain a better understanding of the land. 

Lot Size 

You should also carefully look into the size of the lot to be sure that it can accommodate the type of home that you intend to build. You need a spacious lot that will house the building and, also leave some room for the pavements, driveway and other basic external features. 

Proximity to Social Amenities 

Whether you plan to stay at the new home permanently or occasionally, it is always recommended that you buy a lot with better accessibility to social amenities. Check if the neighbourhood has essential facilities like schools, shopping centers and hospitals. 

Accessibility 

You do not want to build a home in a place where you will always struggle to get to and from.  There should be a proper road network for the delivery trucks and, others that will visit the property before, during and after construction. Accessibility is also important for safety and security reasons. 

Building Codes and Zoning Regulations 

The building codes and zoning regulations vary from one state to another. Besides, they also keep changing from time to time. Therefore, you should also check the building codes and zoning restrictions for the particular area where you intend to build. 

Choosing the lot to build a new home can be challenging but, abiding by the above guidelines will help you avoid the stress and ensure informed decision making. …

Read more

Important Construction Records to Keep

Posted on by

When starting a construction project, you may not know what to records or the important records to keep. Here are some of the important construction records that you should keep.

Contract Agreements

Contract agreements include all sets of the construction drawings permits from the local authorities and amendments. It’s important to maintain contract agreements because they ensure that each party plays its role. They also help when carrying out repair work or maintenance. Essentially, contract agreements provide guidelines for the activities to be carried out during the construction project.

Progress Reports

Progress reports enhance tracking down of activities at the construction site. The major reason to prepare and keep progress reports is to enhance effective planning and scheduling. They also give you proper control of activities at the construction site. Progress reports should be maintained throughout the time of the construction project.

Construction Work Diary

Work diary indicates the contract agreement number, name of the completed work, contract amount, date when the work starts, completion date, and the extension time allowed. Work diary plays a crucial role when it comes to resolving disputes.

Approval of the Construction Work

Work approval records should consist of the index page featuring work items details as per the agreements in the contract. Other pages with progress details and approval of the work should also be included in these records. Construction work approval records helps in tracking progress of a construction project. They also help with preplanning of the remaining activities.

Construction Materials Records

The client should approve the construction materials to be used before a construction project starts. These materials should be tested and results recorded. The results recorded may include those of concrete cylinders, concrete cubes, and slump tests. These records act as the evidence that the building was constructed using the right materials.

Construction Changes or Deviation Records

A client may request changes or deviation from the initial plan. It’s important to have a record of such changes or deviation. The records can depict changes in form of specifications, drawings, or additional works. It should also state the specific amendments and orders deviation from the contract agreements as well as their financial effects. These should have a signatures or approval of the client.

These are the major construction records that you should keep. Nevertheless, the types of construction records that you keep should depend on the nature or type of your project.…

Read more

How Construction Affects the Environment

Posted on by

The construction industry is undergoing a resurgence growth. It’s therefore highly likely that it will affect the environment negatively. For instance, the construction industry uses millions of tons of different building materials every year. Production of most of these materials has negative effects on the environment.

Additionally, the materials affect the surrounding environment where they are used negatively. What’s more, contractors use resources and tools as well as chemicals at construction sites to prepare them. These combined with trucks and diggers affect the environment and public health negatively. The worst of it all is the fact that some contractors do not have proper waste disposable mechanisms. As such, waste from the construction sites ruins the environment further.

Clearing Vegetation

For a building to be construction, the site has to be prepared. This includes clearing the existing vegetation followed by excavation. The result can be a heavily polluted environment with water pools. This is also the case where construction materials are extracted.

Greenhouse Gas Emissions

Building materials like steel, aluminum and concrete are responsible for emissions of greenhouse gases like CO2. That’s because they are associated with high energy content embodiment. Thus, clearing vegetation emitting greenhouse gasses and poor disposal of waste are the major negative effects of construction on the environment.

How Contractors Can Conserve the Environment

Contractors should focus on conserving the environment as they construct new buildings. For instance, they should follow the rules set by environmental conservation authorities. They should also comply with the set building codes. Construction firms should design and install erosion control measures. They should also stabilize the soil before they start construction projects. What’s more, they should prevent environmental pollution by having clear and safe ways of disposing waste.

If you have an upcoming construction project, talk to your contractor about the measures they intend to take in order to preserve the environment during and after building your house.…

Read more

Top Features to Include in a New Home

Posted on by

The major reason to build a new home instead of buying an old house is the ability to customize it. You decide on the features to include in your new building. But, which are the key features to include in a new home? Here are the major features that your new building should have.

Floor Plan

When it comes to the floor plan of a new home, make sure that what you get suits your lifestyle. Perhaps, you can have a home office and a small bar. Also consider the growth rate of your family to have a home that will accommodate it. You may not know what your future holds. However, it’s important to consider long-term suitability when it comes to a sizeable investment such as your home.

Energy Efficiency

There are many features that can make your home more energy efficient. Orientation for instance can help with this. This is the positioning of a house in relation to the movement of the sun. Orientation of a house determines the parts that get natural light and sun at certain times of the day and location of the outdoor areas of a home.

In addition to orientation, include proper seals on the windows and doors as well as insulation. You can also install a rainwater collection system and solar panels.

Interior Design

This may be tricky because what is trendy now may not be trendy in a few years’ time. Therefore, you need to be careful when it comes to interior design. Work with experts and invest an amount that will keep your property looking great for years to come. For instance, you can invest in a classic, timeless design with some aspects of personal flair.

Heating and Air Conditioning

Perhaps, this is a must have for a new home. However, there are options to consider. Do you need a spit or ducted system? Know the difference and make an informed choice with professional assistance.

It’s also important that you include a security system in your new home. A smart home security system includes surveillance cameras, motion detectors, window and door sensors, smart locks, and door openers. These are essential in keeping your home, valuable possessions, and loved ones safe. Remember that these are not the only features to include in a new home. Work with experts to ensure that you have all features of your dream home.

Check out this website for last minute buys and finishing touches.…

Read more

Myths that people still believe about construction contractors

Posted on by

There are so many myths about construction and construction contractors. Myths that aren’t true and that are preventing people in hiring these contractors. With these top three myths debunked, you will understand what is myths and what is actually the truth about each statement.

Contractors are all people that are trying to get as much money out of you as possible

It doesn’t matter how much research you are doing; all contractors are the same. They are just trying to get as much money out of you as possible. They are asking way more than what is always needed.

This is one of the most popular myths. The truth is that contractors are not all scammers. There are some honest and hardworking contractors that are still believing in work for your money. And, they love being contractors.

You can’t negotiate a better price with a contractor

The price that the contractor is setting, is the price that you should go with. There is no room for any negotiations. This is basically a take it or leaves it to offer.

This is a myth that you should not believe. There is always room for negotiations. And, if the contractor doesn’t want to negotiate a better price, it might mean that they aren’t legit. You should ask if the price is negotiable.

It doesn’t really matter what contractor you are hiring

You can hire any construction contractor. They are all the same. And, you can’t trust anyone of them. This is one of the most popular myths that people believe.

The truth is that it does matter what construction contractor you are hiring. And, you should make sure that you are doing as much research as possible. This is the only way that you can know for sure that you are hiring the best one available. They aren’t the same. You should just look for the best contractor available.

Construction contractors. Myths that people believe and that prevents them from hiring the best contractor available. With knowing these top myths, and the truth about them will make you understand contractors much better. Making sure that you are hiring the best contractor you can find.  The one thing that you should make sure about, is that you are doing your homework and find the contractor that you can trust. Then your construction project will go off smoothly and you will not regret anything at all.

…
Read more