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Before undertaking a renovation project ..... short list of things to consider

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Real Estate Agent with RE/MAX Condos Plus Corporation, Brokerage

Before undertaking a renovation project …… short list of things to consider.

 
1.    Hire a reputable contractor and check references.  Also make sure that the contractor is licensed and insured.

2.    Most large renovations will need the contractor to obtain permits example for electrical work.  Having all the permits in advance helps the City authorities to do a proper inspection when the work is completed.


3.    Do not make cash deals as there will be no proof of payment if problems arise later.


4.    Payments should only be made when a milestone has been reached, with all the work completed for that stage of the contract. The contractor also has to provide proof at every stage that any sub-trade being used has also been paid for the work done.

5.    The contract has to be in writing with everything clearly stated and understood by all parties.

 

 

 

 

Posted by

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Real Estate Agent serving clients for the Toronto Downtown and Toronto Waterfront Area.

Residential and Investment Properties.

Rosalind Nicholas, ACCA,SRS,REALTOR®

e-mail:   realtor.rosalind@gmail.com     Tel: 416 918 1972

RE/MAX Condos Plus Corporation, Brokerage,

45 Harbour Square, Toronto, ON M5J 2G2, Canada.

 

Comments(4)

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Ted Glover
Alderman Classic Realty, LLC - Moultrie, GA
ABR in Moultrie, Georgia 229-854-5422

Making sure of these items up front will save you a lot of hassles in the end. Thanks Rosalind.

Feb 24, 2015 12:50 PM
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Thanks for stopping to comment Ted. Yes, have to make sure there are no prolems as the renovation progresses.

Feb 25, 2015 10:33 AM
Joan Cox, Retired Broker/Owner
Denver, CO
Enjoying Every Day to Its Fullest!

Rosalind, it is so important to check out the references, as so many contractors are fly by night operators!   Great tips! 

Feb 25, 2015 09:39 PM
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Yes Joan, I have heard of stories, where the contractors disappear before the work is completed.

Feb 26, 2015 08:38 AM