If you’re planning a new home, hiring a general contractor can make your project go more smoothly. While it’s possible to do some of the work yourself, you should consider the experience and knowledge of a professional. You’ll find that hiring a professional has more benefits than you may think. Listed below are some of the things to look for when selecting a contractor. Read on to learn more about the advantages and disadvantages of both.
Before hiring a general contractor, you should know what you’re getting into. Ask for references and examples of their work. And be sure to hire a licensed, insured contractor. Check with the Better Business Bureau to make sure the company is not a scam. After all, you’re paying for the job! Once you’ve selected the right contractor, you can rest easy knowing that you’ve made the right choice. By following these tips, you’ll have the peace of mind you need when choosing a GC.
A general contractor will have significant experience managing projects and should have a healthy working relationship with subcontractors. Check their portfolio and see if they’ve gained a good reputation. Be sure to get references, particularly from previous clients. Also, make sure they’re readily available to answer your questions. If you’re unsure about how to pay your contractor, always ask for their contact information. It’s important to get a detailed quote so you’re sure you’re getting the best value for your money.
Payment plans for a general contractor are important because they can impact your cash flow and can cause serious problems. Most GCs outline a payment schedule based on the amount of work done and the length of time it will take. For large projects, a GC may require multiple payments before the project is complete. In such cases, it’s best to avoid paying upfront because it carries a lot of risk. However, if the GC insists on receiving the full amount of money up front, then it’s probably a sign that you’re dealing with an independent contractor and are not sure whether or not to trust them.
Payment plans vary by GC. For a small project, a GC can ask for a down payment to begin work. The balance of the money owed to the GC will be due once the project is complete. In case of a large project, multiple payments may be necessary before the GC is finished with the work. It’s important to understand the terms of the contract. For example, if the GC requests payment up front, it’s likely an independent contractor, so the risks are significantly higher.
While the GC will provide you with a payment plan based on the work schedule, some GCs will ask for a down payment to get started. Once the construction has begun, the rest of the money is due in one lump sum, usually once the project has been completed. If a GC asks for payment up front, it’s probably an independent contractor and isn’t a good idea. It poses a risk to your business and your relationship.