When you’re getting ready to build or remodel, many things are buzzing through your brain: building design, budgeting, and whether or not the new deck will be ready for summer. However, the last thing on your mind may also be the most important: the contractor’s warranty.
A contractor’s warranty ensures quality workmanship and required repairs if faulty products or workmanship is discovered. While not every state requires by law that a contractor doles one out, you can always request one, and a contractor who shies from providing a warranty may be a red flag.
When your contractor confirms they do offer a warranty, ask to see a copy of the written provisions to make sure you have sufficient protection from defective work. You may want to become familiar with your state law, if applicable.
But what should you look for in your contractor’s warranty? Several things. A well written warranty document detailing specific information should be provided and incorporated as an addendum to the construction contract. Information should also be provided as to the procedure to follow for prompt warranty services, as well as what happens should a dispute arise over warranty issues.
Some contracts include allowances, which should be reviewed together.
Rather than price specific products or materials, many contractors prefer to use product allowances. A building allowance is an amount included in the contract to be used toward the purchase of these products and materials as they are selected by the consumer.
Typical categories where allowances might be used include flooring, cabinets, and lighting fixtures. Allowances allow homeowners more time to finalize exact selections as the project progresses, and they can simplify the cost control process. The disadvantage, however, is that the cost of final selections can easily exceed the amount of money allowed, resulting in significant extra charges to the homeowner.
Shop for each allowance category before you finalize the allowance amounts provided in the contract. This way, you can budget for additional funds or adjust allowances to better reflect the actual monies required.
We’ll Make Navigating the Chevy Chase Housing Market Easy!
Good luck with your future home construction or home remodeling project! We hope it ends up being everything you envision it to be.
Meanwhile, if and when you’re ready to buy or sell real estate on the Chevy Chase housing market, please make sure to connect with us at The Estridge Group. We have years of experience helping buyers and sellers just like you and we’d be more than happy to assist you as well.
Until next time,