May 26, 2015
If you’re getting ready to build or remodel your home, there are so many things to consider: design, budget, timelines, and a number of other things. However, you may not be thinking about what may be the most important thing: the contractor’s warranty.
The contractor’s warranty guarantees high-quality work and any necessary repairs if faulty products or workmanship is discovered. Though not every state requires contractors to produce a warranty, you can always request one. Any contractor who refuses to provide a warranty should be avoided – that’s a major red flag!
After your contractor has agreed to provide a warranty, ask to see a copy of the written provisions to make sure there is sufficient protection from defective work. Research the state laws on contractor warranties, if you need to.
So, what should you look for in a warranty? A thorough warranty document that details specific information should be incorporated as an addendum to the construction contract. Information about the procedure to follow for prompt warranty services, as well as what happens in the event of a dispute over warranty issues, should also be provided.
If the contract includes allowances, they should be reviewed carefully. Contractors often prefer to use product allowances rather than price specific products or materials. A building allowance is the amount included in the contract to be used toward the purchase of products and materials as selected by the consumer. Allowances are typically used for flooring, cabinets, and light fixtures. This allows homeowners more time to finalize exact selections and simplify the cost control process. However, the cost of final selections can easily exceed the amount of money in the allowance, resulting in extra charges to the homeowner.
Shop for each allowance category before you finalize the allowance amounts provided in the contract, so you can budget and adjust to better reflect the actual amount required.
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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