Have you finally decided on building your home or your new office? In this case, you would be needing the right contractor who can take care of all your construction needs.
According to a survey of the construction industry of Australia, it was seen that it is accountable for $360 billion, which is close to 9% of the GDP of the economy.
This means that there are a lot of companies providing construction services. However, if you find the right company for you, keep on reading this article to get better insights!
1. Get the Plans in order and start receiving bids
When you decide to get something built, there has to be a correct approach to it. It starts with selecting the plot of land and then working on the plans for it.
Once you have consulted an architect and have a blueprint ready, you need to start looking for credible construction companies that can build it for you. For getting the best prices, it is better that you start receiving bids for the project, along with a time estimation and a portfolio of materials that they will use.
Once you receive the bids, you can easily compare the companies and their proposals. Analyze the pros and cons and negotiate with the best proposal in your budget.
2. Prepare a comprehensive contract
If you want things to be crystal clear, you need to have a proper written agreement, so that there is no miscommunication throughout the construction project. This will require you to keep in mind all the escalations and crises that can happen during the project. You should also account for the degree of completion, and its calculation with an independent valuator.
You also need to specify the payment terms and conditions to prevent any arguments or misunderstandings. It is better to agree to a payment schedule so that there will be no defaults midway.
A solid contract will ensure that the project is executed seamlessly. Catering to the usual practice, the contractor might ask you to pay 10-20% in advance followed by a series of payments depending on the milestones achieved.
3. Make sure you have the right permits.
Before you jump to get the renovation done or start on your building’s work, you need to ensure that you have the right permits for the job.
This means taking the necessary approvals from the local authorities, government, etc. before the construction process is finalized. Many construction companies help you in getting these permits.
However, never let any company start the work without a proper permit, as it might be called off midway or worse, you may also be charged with a fine. https://www.hickory.com.au/ is one of the construction companies that can provide you all construction-related services under one roof.
4. Know your contractor well
Before you finally make a decision, make sure you do a thorough background check of the shortlisted companies. Speak to their past clients and find out their way of working, their skill set, along with other details like their history of projects, success rate, client satisfaction, etc.
You may also ask for the relevant licenses, their contacts in the industry, vendors, previous complaints, if any, before coming to any conclusion.
You can do a quick Google search and read the testimonials if any. Making a rash decision at this stage of the process can cost you both time and money.
5. Does your contractor take up similar projects?
Your distant cousins may have recommended you a construction company, who remodeled the entire floor for their studio apartment. However, they may not be the right people for building a multi-storied building.
Thus, you always need to check if the contractor, whom you are looking to hire has expertise in your domain. How many projects have they delivered successfully? You need to ask all these relevant questions before making the final decision.
Over to you…
A recent survey showed that there are more than 360,000 businesses employed in the construction industry. This means that you will have innumerable options at your service. So, keep these pointers in mind and end your search with the right construction company!
