The most important part of any remodeling project is making sure you don’t go over your budget. Doing so can lead to settling for unexpected options, disagreements with contractors and worst case, an unfinished room. Follow these steps below to make sure you get the most for your money
Make sure you visit a showroom and see exactly what you are buying and check out the quality for yourself.- It is recommended to have a retailer visit your home before accepting a quote for the design and installation of the room. Once they have completed a survey, you should get a full quote for the project.
- Most deposits shouldn’t exceed more than 25% of the total contract value. Try to get a written schedule of payments upfront so there are no misunderstandings along the way.
- It’s best to wait until all your goods are delivered before you pay in full. Companies that ask you to make a full payment ahead of delivery have your money but you don’t have your appliances or completed kitchen or bath.
- Be aware of everything in a written contract before you sign it. Some “Terms and Conditions” have expensive cancellation fines.
- Be sure that all necessary inspections have been completed and passed before final payment.
Here is some advice to help you stay within your means:
- Arrange a clearly defined payment schedule.
- Ask for several installments throughout the project.
One example is below:
- 20% up front
- 20% when the electrician starts
- 20% when scheduling begins
- 10% when the cabinets are installed
- 10% when the trimming is complete
- 20% upon final inspection
OR
- 50% when you sign the contract
- 40% when tear out and installation begins
- 10% upon final inspection
Courtesy of NKBA Content
