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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