Construction and Renovation Budget Control

Often when a renovation ``nightmare`` happens it is because of cost overruns. This can be a customer’s main concern. If you are planning on embarking on a home renovation this is where you should start.

Here are your steps after you have decided what it is you want done.

1 Set a preliminary budget,

2 Meet with a few contractors who can do the work and get some ballpark figures on costs,

3 Revise your preliminary budget using this information

4 Decide if the costs are going to work for you; if you need financing, talk to your financial institution or rich relative of choice and feel them out.

5 Pick a contractor: check references, ask for his proof of insurance, W.C.B. number, and business licence number.

6 Contact your contactor and obtain a detailed written quote

7 Finalize your budget

8 Finalize your finances. I would recommend a new sub account to handle the project to avoid having the money mixed up with other funds.

9 Hire your contactor and ask when he requires payment so you are ready to supply the funds to keep thing moving.

10 Begin your project

11 Monitor cost continually: be aware of any times the project contacts are above or below budget.

Consumer tip Avoid Renovation Telemarketers

In The Home Renovation Industry as in life there is no such thing as a once in a lifetime offer. Avoid telemarketers and door to door salesman selling any kind of home renovation product. They rarely represent reputable companies. If you are planning a home renovation do your homework ask for references and pictures of the contractors work.

The BBB can be a good resource but the problem is most people never actually call them, usually people will deal with it on there own, seek legal action , or worse do nothing because they feel embarrassed for being taken advantage of.

So don’t be charmed by a big smile, it is important a contractor is polite and nice to you however many companies hire salesmen to get work. These salespeople will not be the ones you deal with once you sign the contract. They will never come back.

At Greenwave Construction you deal with one person, David Federici the owner and construction manager from beginning to end. Our references will be the jobs we have completed or the jobs we are working on. Remember buyer beware.

David Federici
dave@greenwaveconstruction.ca