What are the advantages and disadvantages of renovating an old house and working with a contractor? PART 3
How to find the right contractor for renovation? In my 30 years of experience working with contractors, I would say referral is your best bet. Top real estate agents take referrals seriously since they are professional and do not wish to jeopardize the relationship.
It would be best to interview several contractors, ask for references, and ask them to see the previous job sites they recently finished. You get what you pay for; avoid the cheapest contract. You should rely on the interview process and hire the one you can work with and trust.
Perhaps, everyone has one or two horror stories tell; I personally have a few. It would be best if you considered a signed contract, which was reviewed by a lawyer.
What are the advantages and disadvantages of renovating a house? You may negotiate a better deal to purchase the house, considering the cost required to restore the property. You may find a house for renovation in a specific location that is of interest to you, where new properties are limited or out of your budget. Once you own the property, you may customize it to your liking and budget.
Some of the disadvantages can be the extensive time and effort required. The expenses add up since while renovating, you still need to live in an alternative location. You may have to wait for a while until moving into the desired home; somehow, renovation always takes longer than planned. Finally, the risk still exists, budget 10 - 15% more than the best-estimated cost.
Why should you buy a house that requires extensive renovation work? PART 1
The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: email@example.com or by phone: 416.990.2424
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