A Brief Guide to Construction Contracts

understanding contracts

No matter what you are buying, it’s important to understand all the stipulations that come with your purchase. If, for example, you’re investing in a new appliance, you need to have a solid grasp of the warranty information. If you’re getting new clothes, knowing what the store’s return policy is might matter to you. In the event that you’re having construction done on your home, knowing exactly what your construction contract means is extremely important. You will learn more about what makes-up a construction contract as you read this article.

A construction contract does not consist of a single document. Instead, there are a number of components that comprise your agreement with your general contractor. The next few paragraphs of this guide will teach you about the various things that should be provided to you before you sign on the dotted line. If you don’t receive one of these items, have a conversation with your contractor about why it is missing.

The project plans – The plans for your upcoming job are a critical part of your contract. Without these, you will have no reference for what is actually going to be happening to change the appearance of your home. There are a couple of different sorts of hand-drawn or computer-generated plans you should receive.

The first is the floor plan. These drawings will show your new layout from an aerial standpoint. They will allow you to see where everything is going to be positioned without a lot of close-up detail work. Elevation plans, on the other hand, are drawn as if you were standing in your new space, albeit from various perspectives. These are meant to help you visualize your remodel more clearly than you can with a floor plan alone.

Specifications – The specifications page features details that are, as you probably assumed, specific to your project. These may include necessary materials, information about specific systems, such as whether the plumbing will be copper or PEX, and a description of the scope of the work, which is basically what changes the project actually entails. Different contractors have different ways of doing their specifications pages, so as long as you receive something with this information, there’s no need to fret.

Terms – The document that showcases the terms of your project will include the amount of time it will take to complete it, the quoted price, and the start date. This is, in most people’s minds, the actual contract. You will probably have to sign this document and ought to retain a copy for your records.

At Hatch Homes, we strive to make the process of signing a contractual agreement as simple as possible, no matter the size of the job. If you choose to let us handle your next project and ever have questions about anything, including the contract you will be signing, we will be there to have a conversation with you. It’s important to us that our clients throughout the Carolinas and Virginia know they are part of the extended Hatch Homes family.

Leave a Reply

Your email address will not be published. Required fields are marked *