As the homeowner of a remodeling project, it`s important to have a clear understanding of what your remodel contract should include. A detailed contract ensures that you and your contractor are on the same page about what work is going to be performed, how long it will take, and how much it will cost. In this article, we will break down the elements that should be included in any remodel contract.
Scope of Work
The scope of work outlines the specific tasks that will be performed and completed by the contractor. It should be a detailed description of the work to be done during the remodel. The scope of work should include the following details:
– Specific areas of the house that will be renovated
– Description of work to be done in each area
– Materials to be used
– Timeline for completion
The material information section should detail all of the materials that will be used in the renovation. This should include the types and quantities of materials, as well as the cost of each item. The contractor should provide a detailed list of everything that will be used, including:
– Lighting fixtures
– Paints and finishes
Payment and Payment Schedule
This section should detail how much the remodel will cost, and how payments will be made. It should also include provisions for additional costs that may arise during the project. A typical payment schedule looks like this:
– A deposit of 10-20% of the total contract price.
– Payments throughout the project that coincide with specific milestones
– A final payment once the work is completed
Insurance and Liability
Since a remodeling project is a major investment, you want to make sure that you and the contractor are protected. It`s important to have liability insurance for the contractor in case of accidents or damage to the property. This section should include the contractor`s insurance information, as well as details on who is responsible for any damages that occur.
Warranties and Guarantees
A warranty or guarantee protects you in the event of problems that arise after the remodel is completed. This section should outline the warranties and guarantees for both labor and materials. Be sure to read this section carefully and ask questions if there is anything you don`t understand.
Change Order Policy
Changes to the project can and often do arise. It`s important to have a change order policy in place that outlines how changes will be handled. This section should detail the process for requesting changes, how much additional work will cost, and how the revised schedule will be affected.
In summary, a remodel contract should include a detailed scope of work, material information, payment, insurance and liability information, warranties and guarantees, and a change order policy. Having these details in writing will provide peace of mind and ensure that the remodel is completed to your satisfaction.