Renovations

①  Have a plan

②  Find a contractor

③  The renovation process

④  Follow up and measure results

Four Steps to a Successful Renovation

QUALITY

Planning: Three Factors to Balance

Scope

Money Time

What is the FLEX variable?

Ø  ‘Must have’ vs ‘Nice to have’

Ø  Options

Ø  90/90 Rule

1. Scope

Ø  Create a budget for each option

Ø  Affordable materials and products

Ø  Minimum 10% contingency fund

2. Money

Ø  Make a ‘time budget’

§  Construction calendar

Ø  Divide the renovation into time stages

3. Time

QUALITY

Ø  No compromises!

Ø  Everything you can see and can’t see

QUALITY is result of proper planning of

SCOPE, TIME and MONEY

Quality

①  Have a plan

②  Find a contractor

③  The renovation process

④  Follow up and measure results

Four Steps to a Successful Renovation

What Could Go Wrong?

Finding a Contractor

DON’T PANIC

NOT ALL CONTRACTORS ARE LIKE THIS:

WITH CAREFUL RESEARCH & PLANNING

YOUR EXPERIENCE

COULD BE LIKE THIS

Finding a Contractor

Ø  Local bandit signs

Ø  Online search

Ø  Neighborhood work

Ø  Referral/word of mouth

Do Your Homework

Ø Ask for references and photos from recent projects

§  Did the project meet their expectations? §  How were the workers and subs? §  How was the SCOPE, TIME, MONEY,

QUALITY?

Ask Questions

Ø Are they licensed? Ask for copy Ø Do they have insurance? Ask for copy Ø Ask for workers comp information Ø How long have they been in business for and

what is there area of expertise? Ø How much money do they require as a down

payment for the work? Ø How much time do they expect the project to

take? Ø How long do they guarantee their work?

Professionalism

Ø Do they have a standard contract? Ø Do they recommend permits? Ø Do they guarantee their work? Ø Appearance/demeanor/behavior/language Ø Branding?

Shop Around

Ø  Whenever possible, get bids from 3 different contractors

①  Have a plan

②  Find a contractor

③  The renovation process

④  Follow up and measure results

Four Steps to a Successful Renovation

Contractor Renovation Blueprint

Agree on Project

Sign Documents

Get Building Permits

Changes & Payments

Final Sign Off

Agree on the Project

ü  SCOPE

ü  TIME

ü  MONEY

ü  QUALITY

Always have a minimum 10%

contingency fund

Contractor Renovation Blueprint

Agree on Project

Sign Documents

Get Building Permits

Changes & Payments

Final Sign Off

Sign The Documents

Ø  Independent contractor agreement

Ø  Scope of Work

Ø  Construction Schedule

Ø  Payment Schedule

Contractor Renovation Blueprint

Agree on Project

Sign Documents

Get Building Permits

Changes & Payments

Final Sign Off

Building Permits

Ø  No work starts until you see building permits

Ø  Common exemptions: painting, flooring,

replacing doors, light fixtures, door hardware

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Contractor Renovation Blueprint

Agree on Project

Sign Documents

Get Building Permits

Changes & Payments

Final Sign Off

Changes and Payments

Ø  Follow the construction and payment schedule

Ø  Always sign a ‘change of work’ order

Contractor Renovation Blueprint

Agree on Project

Sign Documents

Get Building Permits

Changes & Payments

Final Sign Off

Final Sign-Off

Ø Walk through renovated space with contractor

Ø Use scope of work and any change of work orders as a sign off; both initial items complete

Ø  Inspect for any damage done by contractor or subs

Ø Make final payment only when:

² Work is complete

² Any damage is repaired

² Your are 100% satisfied with the work

Ø Give a testimonial and ask for a testimonial

①  Have a plan

②  Find a contractor

③  The renovation process

④  Follow up and measure results

Four Steps to a Successful Renovation

Follow up and Measure Results

Ø  Check the renovations after 30 days, 90 days and 1 year

Ø  Make note of material and labour durability

Ø  Re-use durable materials and labour

Ø  Discontinue use of poor materials and labour

Find Clever Ways to Save Money

Renovations: Examples

www.redi-exit.com

www.redi-exit.com