Hiring a Contractor – Know When You Need One
Any minor buy-to-rent remodeling project can suddenly become a large one, and although some can be completed by experienced do-it-yourselfers, it’s important to ask yourself several questions before taking on a remodel project:
1. Is it really worth my time to do it myself? Many home buyers attempt a remodeling in order to save money, only to find it wasn’t worth it in the long run. It may be much more cost effective to hire a pro to do what they do best.
2. Can I handle the project? Spend time on forums and speak to people who have completed the remodeling project that you are considering. Having a true picture of what a job really entails can prevent you from getting in too deep from the start.
3. How will this affect my other commitments? DIY projects tend to take on a life of their own. Professionals can speed up the process considerably, making everyone happier and the process more efficient.
4. Am I sure what the budget will be? It’s a common practice to budget about 20 percent more time and up to 50 percent more money than anticipated. Running short of money or time will frustrate everyone, and can doom a remodel from the start.
5. Do I have a grand plan for all of my rental house projects? Come up with a master plan for all of your properties before knocking down that first wall. A plan will keep you on task whenever you consider diverging from it.
In the end, by doing this kind of research you will be in a much better position to determine the best approach for your investments remodeling projects. What method do you use to select your contractors? Visit us at www.b2rfinance.com and follow us on Twitter @B2RFinance.
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