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Choose an Architect or Design/Build Contractor
Now that you've decided what to do with the space in your basement and how much money you're able to invest in the remodel, you will need to choose an architect or a contractor who does design work as well as the actual construction so that you can get your plans drawn. Share your design ideas and budgetary expectations with your architect or contractor and they will draft your plans for you. Be sure to discuss pricing for the design service ahead of time so that there are no surprises!
Get three quotes from licensed and insured contractors
Everyone knows that it's always wise to get three quotes for remodeling projects. Below is a list of important things to look for when choosing a contractor for your remodeling project.
Licenses
Request copies of all licenses prior to hiring a contractor. Check the dates to make sure the licenses are current. Also, make sure that the license is actually for Residential Remodeling.
Insurance
Request copies of general liability and workman's compensation insurance from the contractor candidates. Be sure to check dates and coverage limits. A safe amount of general liability coverage is $1.5 million.
Start and End Date
Ask each candidate for specifics on when construction on your project will begin and when it will be completed. These will be estimates of course, but it is helpful to have an idea of when your project will be completed. Some contractors are booked out for months at a time. This may or may not weigh on your decision to hire.
When will they be working?
Ask contractor candidates what hours crews will be working on your remodeling project. You may or may not have preferences regarding how early they begin working each day. The contractors' flexibility with scheduling might be important to you.
Contact Information
Ask for specific addresses and contact information for references.Get at least three and actually call the homeowners! Your house is probably the largest investment you've ever made. Be sure that the people you hire to alter it's look are reputable and trustworthy.
Confirm each candidate's payment schedule.
The payment schedule should be based on verifiable percentage of completion. Billing cycles may vary among contractors. Some bill bi-weekly based on % complete, some bill monthly, some bill in thirds based on % complete. Deposits should rarely be more than 10%.
Confirm who will need to obtain the permits for your project.
Sometimes contractors will get the permits, but most of the time will charge extra for this service. Be sure to settle this ahead of time to avoid unexpected charges.
Choose your selection items.
Once you have interviewed three contractors and determined who will be building your basement remodeling dream, you will need to choose your selection items. This is the fun part! These include paint colors, flooring choice, electrical fixtures, plumbing fixtures, baseboards, textures for ceiling and walls, etc.
Depending on your agreement with your contractor, you may be able to select your finishes from one of his/her suppliers so that a lower rate is passed on to you. Otherwise, you can go to major retailers like Home Depot or Lowes to choose most of your selection items.