1. Take charge of the project

If you want to achieve success with your home renovations, you must take charge from the beginning. Set the project goals to help you understand what to expect at the end of the project. 

When you set the right parameters in advance, you will have a more manageable time hiring the best contractors for the job and setting a reasonable budget. Unfortunately, I have seen home renovation projects going out of control and failing to deliver when homeowners fail to take complete control from the onset.

2. Maintaining a project journal

Start by creating a list of all home renovation tasks that you intend to do. I use this list to engage my contractors and discuss with them possible timelines for each job. In addition, maintaining a project journal helps me track the progress of each renovation task with ease since I can ask for an update from the signed person.

Project journal also acts as a permanent record where I seek clarification of who was assigned a specific task. It also helps me keep proper records of different materials delivered on the site and any upcoming delivery dates.

3. Establish a good communication channel

You and your contractors must have an accessible and faster mode of communication. The easiest one that I use is to exchange phone numbers with all my contractors. Doing so helps me get real-time updates regarding project progress. However, you must clearly state the most appropriate time to communicate so that no party is unavailable. 

If there is a proposal to extend the scope of work or timelines, that has to be done in writing, and I make sure I keep proper records either in soft or hard copy.

4. Setting achievable renovations goals 

I always try to be realistic as much as possible when setting my home renovation goals. I usually take time to research how long each of my proposed renovation tasks will take and the estimated remodeling cost. 

When you set realistic goals for your home renovations project, you will have significant control of the project progress without getting stuck due to insufficient budget or timeline delays.

5. Hire a qualified team

I don’t rush to hire contractors without doing proper background checks. I always conduct due diligence by asking for their past projects and checking reviews. Don’t just settle on the least expensive contractor because you may not get the desired results.

A thorough background check will help you know whether the contractor is licensed and can deliver the home renovation project in time.

Pay close attention to the contract before signing. I have never come across a contract that I have not updated.

I have learned that there are a lot of “extras” that are left out of the contract purposely and will show up during the project as “change orders.”

You want to try to identify as many potential “change orders” as possible during the contract phase.

6. Keep a close eye on the work

As the project client, I don’t expect anything short of quality work. Therefore, I have my daily check-in routine program where I visit the site to monitor progress and engage with my contractors.

I use my project journal to ensure it’s the exact home renovations tasks we agreed upon that are being implemented. 

7. Develop a system where you get prompt updates in case of any delays

Any delays during your home renovation projects can make you miss the set timelines, thus, leading to extra costs. Therefore, I always make sure that my contractors have a seamless method of reaching out to me if there is an emergency or unforeseen delays. 

When there is a timely communication channel, you can respond to emergencies promptly, thus, reducing any downtimes or work delays.

8. No Contractor Should incur extra cost without prior approval

My principle is that I never allow contractors to incur extra costs that are not in my budget without my permission. Doing so helps them understand that I will not pay for extra hours or additional materials purchased without my consent. 

To be on the safe side, always grant them written authorization. It will clearly state what can be added and the maximum extra costs you are willing to pay.

9. Never sign-off a project without conducting a final inspection tour

Payments for home renovation contracts should be made in phases. I always start with a 10% down payment and clear the balance in installments. 

Therefore, an inspection tour to inspect the final remodeling project is essential before paying the last installment.

I always hold back 10%-15% of the project for final payment completed after the inspection AND the punch list items.

Never ignore this vital step because even the most experienced contractor can fail to deliver up to standards. 

10. Always build a professional relationship with your contractor

You should always maintain a friendly but professional relationship with all contractors. When they feel respected and supported, they will consistently deliver as per your expectations. I ensure my contractors operate in the most conducive environment to focus 100% on the core responsibility.

Pay your contractor’s on time with the agreed-upon milestones. 

Ensure you have an invoice for each payment showing what items were completed and how it is billed against the initial line item.

Always listen to your contractors’ feedback and opinions before you make a final decision. Also, it’s an excellent gesture to compliment them when they deliver within the agreed timeline and budget.

Conclusion

Home renovation projects can be exciting if you understand how to manage your contractors. When you establish a solid professional relationship with certified contractors, you will have an easier time achieving a successful home renovation project within budget and timeline. 

If you plan to undertake a fixer project, use the above tips, and you will have an easier time managing them.

Looking forward to joining you all in this journey to Financial Freedom & Education!