CONSTRUCTING YOUR HOUSE? – 10 SIMPLE TRICKs TO FINALIZE YOUR CONTRACTOR.
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It often happens like
this that you are planning to construct your house and one of your relatives
comes in and tells you that Mr. XYZ is a known contractor of mine, you can give
him your work and get your work done. From that date, till you start your
construction work, you never ever try to find a contractor or do some research
on the internet. It’s no brainer that you have given the work based on the
relations, so by default you trust him. But nowhere is it written that he will
complete the construction project with flying colors. It’s quite obvious in our
Indian customs, where relatives are kept as the top priority. Again where is it
written that if your relative’s contractor will fail, then will he come for
your financial rescue? I guess you know the answer very well. So don’t take
chances and rather go for a systematic approach. Via this process, you won’t be
affected rather remain in the peace of mind.
You need to consider
these mentioned points while deciding a Contractor:
1. Experience of Contractor is the most important criteria to close a deal
with. Remember an experienced building contractor always learn from his
mistakes.
2. Type of contract like with material & labour contract or labour
only contract. Again here comes 2 more estimate types i.e covered area estimate
or item rate estimate. These decisions you have to take based on your
suitability. Item rate estimate is always the best way and follow real time
costing policy.
3. Review or rating provided by contractor’s previous clients. You
can either find them in the internet (although biased) or best way is to make a
project visit before finalizing a Contract. If required talk to their previous
clients as well.
4. Your financial budget, try to get the BOQ with total estimate of the
project by a professional team and also keep 13-14% extra budget in mind, so
that you remain mentally strong.
5. Escalation clause or terms and conditions must be properly
understood before signing any contract. If the contractor has missed it out
then do discuss with him and add this point, as a hidden agenda may crop up
after the work begins.
6. Raw materials with brand must clearly set out and noted in your contract.
7. Drawings must be clearly understood with its site
compatibility must be checked and avoid future changes in the mid of
construction.
8. Extra works and Scope of Work must be clearly defined and discussed with your contractor to avoid last payment
hurdles.
9. Payment Schedule and Project Timeline must be well planned and should be comfortable to
both the parties.
10. Service Warranty Period must be clearly discussed with the contractor.
Most of the time this topic remains in dark and none of the parties agree to
the service warranty period clause to be added to the contract. You can deduct
a security amount (5% of the total project value) in case you feel the quality
of work is sub stranded.
If you can take
decisions on these points then you can easily finalize a contractor. Here
Builtify can help you prepare a well sorted contract document for you. All the
above points are taken care off by Team Builtify proportionately.
So, login to www.builtify.in
to know more. Happy constructing your home!
In case you have any
doubts then comment us and will definitely reply.
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