Find a builder for your project

It’s important that you take the time to do a financial background check on your builder’s company. If you see any changes to the directors, this could be a red flag the company may have filed for bankruptcy in the past.

When it comes to your quote, the devil is in the detail. A good contractor should breakdown their pricing so you can check every design component has been properly costed. If your quote is too vague, ask your builder to be more transparent with their numbers.

At a minimum, you should speak to at least two previous clients. One from six months ago and another from eighteen months. This should help give you an honest overview of your contractor’s current work practices, as well as showing how their work stands the test of time.

To be extra thorough, we also recommend speaking to a client that’s currently onsite to help round out your understanding of a contractor’s product delivery.

Ask your contractor which contract they’ll be using. We always recommend homeowners go for a JCT contract as this provides the most security and accountability.

You’ll also need to check all the relevant insurances are in place. Our team at Resi Finance can help you to understand what you need to have in place, as well as source the best policies on offer.

We recommend you agree to a payment plan that has you releasing funds when milestones have been met. These milestones should be the key stages of the build, such as your foundations, superstructure, roof installation, etc.

This will ensure the builder is the one funding the project, while also letting you stay in control of quality throughout construction. If you can perform quality checks at each milestone, this will provide further protection, and is something a project manager can do on your behalf.

Watch out for those ‘too good to be true’ quotes and turnarounds. Often, when a project is priced significantly lower than their counterparts, it can be a sign that key details have been left out, likewise with super quick time estimates. If you’re unsure of whether or not to trust what’s on offer, speak to our team for advice.

How did you get on with the contractor? The rapport between you will be just as important to them as it is for you.

A lot of our contractors are busy and if they are offered two potential contracts of similar value and start date, their decision will then be based on the relationship with the client. After all, construction takes time and plans are liable to change. Having a good working relationship will make their job that much easier, as it will yours.