No matter if you’re a homeowner or a general contractor, it’s safe to say that every construction project you start is going to be challenging. There’s just so many things that have to be done such as negotiating the construction contract, creating a timeline for your project and negotiating with clients. Still it’s very important that you get everything right from day one if you want your project to be a success. So, to help you get the job done, we came up with 4 considerations that can help protect you as you start your construction project.
Timeline
One of the most important parts of starting a construction project is creating a timeline. This is the case because so many projects fail simply because a party’s dissatisfaction with its timeliness. On top of this, plenty of projects end up getting delayed because there’s no clearly-defined timeline that needs to be followed. In case your contract doesn’t provide guideposts for different stages of your construction project, it’s only going to be lengthy and more difficult to finish. Therefore, all the timelines should be made before any construction work begins. When creating your timelines, try to include as much detail as possible if you want to ensure the project is dealt with effectively.
Insurance
It’s also important to mention that every contractor on a project needs to have an insurance before the works begin. Depending on what kind of project you’re starting, it’s also a good idea to have the insurance of a performance bond because there are many general liability policies that don’t cover defects considering the contractor’s work. In most cases, they only cover damaged caused to other parts of a building by the contractor. If you’re hiring a contractor, bear in mind that this is considered to be “your work” and opting for an insured contractor doesn’t mean you’re completely safe. That said, getting a performance bond is almost always recommended.
Costs
Of course, when starting a major construction project, you simply have to be aware of how much it’s going to cost you. However, even though this may seem obvious, you’d be surprised how many people fail to determine the cost of their project which leaves them unable to pay. This often results in a project being shut down or paused until there’s enough money to continue. Luckily, this is something you can easily avoid by determining the cost of your project. If you want to estimate your construction costs accurately, turning to experts in quantity surveying who can apply their knowledge of construction methods and materials is always going to be your safest bet.
Licensure
Last but definitely not least, you need to check if the contract you’ve hired is licensed in your jurisdiction and make sure they have all the necessary permits before the work begins. Since almost every major project requires a licensed contractor, don’t let work begin until the contractor shows you all the licenses they need in order to be able to operate. On opt of this, you need to bear in mind that city inspectors will be inspecting your project. This is where being prepared is always a good idea and that’s why having an independent inspector visit the site before city inspectors can turn out to be an amazing idea.
With these 4 things in mind, you should be able to tackle every major construction project you want. Just remember that it’s all about preparation and thinking the entire project through. The last thing you want to do is start investing your dollars only to realize there’s something preventing you from continuing the construction.
