Steps to a Perfect Project!
Determining Your Needs
Making a change to your home can be exciting. Now that you have decided you need something different than what you have now, you can think about what that change may look like. Perhaps its just repairs to an old problem that you are tired of or maybe you want to remodel a part of your living space. There are many decisions to be made regarding even the simplest of projects in order to ensure you get exactly what you are expecting. Here are some things you need to think about:
- Budget
- What you want to accomplish - more organization, larger space, smaller space, etc.
- How you will live during the project - where to move fragile items, loss of use of project area, etc.
- Personal taste in regards to design, color, etc.
- How the change will fit in the house & create resale value
- When you want to start
- When you need it finished
Choosing Your Professional
Now that you have decided on a project for your home that will enhance your lifestyle, its time to choose a professional to help you. You may be wondering where to find names and how to know if they are the right choice for you. The first place to start is with your friend, neighbors, coworkers, etc. Ask if they can recommend someone who has performed a similar or any project for them. The people you know who have already experienced working with a certain professional can give you the ins and outs of the quality of this professional, communication style, timeliness, cleanliness, etc. The next place to get more names is your local Chamber of Commerce and Better Business Bureau. The BBB prescreens applicants to make sure they are legitimate and possess the licenses necessary to perform the work they are advertising for. Both organizations offer business training and workshops for their members which encourages continuous improvement and customer satisfaction. Another step you can take, if you still cant find who you are looking for, is to call businesses listed in the BBB or Local Chamber that may do related work and ask them to recommend someone. I once called a plumber to get a referral to an HVAC specialist since I couldnt find any names in my local Chamber directory. If you STILL cant find someone, you can always look in a phone book or on line for listings.
Once you have a list of names, its time to check them out and get a bid for your project. Here are some questions to ask:
- Do you have a license & insurance?
- Do you have experience in this type of work?
- Can I see your portfolio and/or see examples of your work?
- Can you give me a list of references that I can call?
- What guarantees/warranties do you offer?
- During the bid process, you should find out: The price of the project & what is included & excluded
- Whey they can start
- What hours they work
- How long the project will take
- How changes will be handled
- The down payment & payment schedule
- How debris will be handled
Obtaining Financing
When it comes to financing your project there are a number of solutions for your needs. You will first want to get in touch with a reputable and experienced financing company to handle your request and search for the best loan for your specific needs. Consider these factors when selecting your lender:
- How long have they been in business? Are they a fly-by-night operation or have they been in business through the good times and the bad? The loan officers should have a great deal of experience as well, not just the company backing them.
- What experience do they provide? Do they have multiple sources of financing options for you or are they restricted within their "box" of programs? An expert in the industry can provide more than an expert on their in-house programs. Choose somesone who can understand and analyze your financial situation, not just your loan.
- Do they understand your needs? Choose a lender who understands what you are looking to do, can provide options for you based on your needs, and can solve any issues that may arise throughout the process.
- How long do I plan to live in or own this real estate?
- What is my risk tolerance?
- Will I be able to afford more in a few years than I can now?
- Can I afford a shorter term loan?
- What can I really afford? (This is not the same as what you may qualify for)
- Complete tax returns for the past 2 years
- Pay stubs and bank statements for the past 2 months
- Construction estimates and plans
- Credit, application and appraisal
Contact our lender of choice who can help you with all of the above at: www.AmericanAdvantageCO.com or 303-766-7620!
