Quote:
Originally Posted by speedster911
regardless of what you decide - plan on it taking 2x as long as planned to build or remodel and a minimum of 2 -3x what you have budgeted.... it's a slippery slope when you build.
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Why do people think that? The good or custom builders do not take on lots of projects so they can have some breathing time to finish up the house. One more tip is to make sure to have this on your contract:
The actual Cost of the Work shall constitute the Guaranteed Maximum Price of xxx THOUSAND xxx DOLLARS AND NO CENTS.
$ xxxxx.000
In the event the Contractor shall produce the work in excess of the Guaranteed Maximum Price, the Contractor shall pay 100% of the excess out of his own funds.
Any additional work requested by the Owner outside the scope of this Agreement shall be evidenced in writing and signed by both parties. Such work shall be charged to the Owner on the basis of the actual Cost of the Work, plus $75 per hour Supervision Charge, if necessary, and the 20% Contractor’s Fee on the total. Completion time shall be extended accordingly.
The last part or as they say, the ball is in your court.