Phase One: Assess needs of the property. Prioritize-Check the state of the wiring, plumbing, foundatoin, and roof (new shingles or complete roof).
Keep in mind current market and location of property in determining costs and appropriate amount to invest in the repairs. Determine if you are planning to inhabit the property or sell it. This will
help you decide on extent of projects, but don't compromise on quality when it comes to materials or hired help. Buy the best you can and still stay in budget.
Assess floor plan and needed changes to raise property value: extra bathroom, fireplace, garage, inside storage space.
Call in professionals in needed areas for bids on jobs that you are not qualified to estimate yourself and complete yourself. This is also the time to know city and/or county building codes and
permit requirements.
Phase Two: Now you need to determine what you are qualified to do. This could save a lot of money if you have the skills and time. Acquire knowledge of area subcontractors for projects you cannot do.
Here is an opportunity to hire small business owners. Find out the reputations of local contractors. This can be tricky because it can be so subjective! Stay away from mid size companies if possible.
They tend to charge the most for different reasons. Collect estimates and /or bids. On larger projects get bids and written contracts to stay within at least a percentage of the bid, for example:
written commitment to not go more than 10% above the bid. Many a homeowner has been stuck with big home improvement bills due to issu...
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... finish the job to completion, even those little things! Too many
times companies can forget those small things and chase down the big money projects. That is another reason to seek out smaller, reputable contractors.
Your house is now finished, I hope. You have decided to move in or sell. If moving in hopefully you are satisfied with your furniture because at this point you are undoubtedly out of funds. Oh
well, another project to look forward to, plan for, and budget for! Maybe you fixed up this house to sell, perhaps to a son or daughter's family. Family projects can be very rewarding, ifnot a little
stressful. This has been a learning experience for you and you made it through sanity intact, I hope. Hopefully this has been more rewarding than anything else.
There were three main factors used for choosing this project. First, its low initial investment that makes
The last process is called planning. Planning, formerly called Phase II, is the bridge to change. This can include making a clear plan and creating a menu of options for how to proceed.
* Ask the electrician you intend to hire to give you a detailed material and labor price sheet. Agree on the figure in this price sheet before starting the job. Watch out for electricians who ask for more than 30% of the cost of initial materials. Remember, it is standard practice among contractors to mark up materials in order to cover the time they spend picking up the materials and gas to deliver them to your home.
As foreclosure becomes a major problem in America people are looking for a way to save their homes without completely losing everything. Owning a home with a white picket fence is the American dream but in recent years it has become more of a nightmare. One way to fix the foreclosure problem would be to use social security as way to help pay for the debt they have accrued. Social security is set up to help Americans when they retire and also to help them in troubling situations such as, insurance for disability, veterans insurance, food stamps, unemployment insurance, and other forms of welfare. The government could use the social security fund as a way to help people out of debt and help save their homes from foreclosure. A plan that uses social security money to help people out of debt could be set up as a loan with a low interest rate attached. This loan could have a form of collateral attached in order to create a program where people are not just taking money with out responsibility and understand the value the given money carries. In order to determine what amount of money people would receive, a figure could be estimated based on their current jobs and how much they are estimated to receive from social security by the time they reach the age of retirement. This amount of money would equal their amount for their loan to help pay off their debt. Essentially people would be barrowing their social security money but would eventually be paying it back. Ideally when they go to retire they would not have lost any of their social security money. The loans must only be used to pay back debt on ones home and if used on something else, such as car payments, or are not paid back, then the person will receive less money then previou...
Putting together a project from start to finish is an enormous amount of work and there are steps to follow to make sure nothing is left unnoticed. This research will cover the majority of those steps.
When working within the realm of real estate, flipping houses is one of the most lucrative projects one can undertake. The premise of this idea is buying a home in need of repair, renovating it, and selling it at its newly appraised value. In high school, I worked alongside my mother to renovate a home in our small town of Trinidad, Colorado. The invaluable lessons I learned throughout this business venture gave me insights into the inner workings of house flipping. What I gained from this experience will lead to better decision making if I choose to take on another project. With a $150,000 budget, the most important aspects to focus on in a renovation would include updating appliances, applying fresh paint, installing proper flooring, and revamping the exterior. Assuming that the home being foreclosed on costs $110,000, I would allocate $20,000 of my budget for renovation expenses. This leaves a $20,000 buffer to be used as an emergency fund.
Ramroth, Jr., William G., 2006, Project Management for Design Professionals, . Chicago, Illinois : AEC Education.
..., 2013). As these contractors are risk-averse, they will drop out in the first phase leaving only the most efficient contractors to compete against each other. Furthermore the inclusion of a premium, offers less incentive for collusion as contractors are more inclined to deviate from a cartel to receive a higher payoff. Although theoretically feasible in a controlled environment, in real life there are laws and regulations that protect firms against collusive practices. In the case where the client may suspect collusion is a real possibility, AMSA offers the most effective collusion deterrence. However administratively it may be difficult to implement phase 1, where the price sequentially drops as the tender process takes several months with contractors rarely interacting with each other compared to an auction where the bidders are together and bid in one sitting.
...tegies. I would check out the technical requirements i.e. equipment, business feasibility (land lease, vendors and suppliers, etc)
Brooke (1997), explains Estimation as the technical procedure of anticipating the value of the project. Building construction estimation is the process of acquiring the construction value for the whole project before the project starts. Thus, construction attaining process depends hugely on financial management to sustain workability and smooth operations. The delay in construction is a global issue which is due to improper preparation of estimates and lack of drawings (Ajanlekoko, 1987). In accordance to Gkritza (2008), the source of delay in a project are identified to be in the initial stages, like bad quantification, errors in design and ground conditions. Thus, the purpose of a proper estimate is to foretell the cost needed to finish the
My house that I designed is all I imagined and more. It is a four story
The first thing in building a house is selecting a lot and lot preparation. The land has to be cleared of trees and brush and graded to ensure a level building area. This process is usually called excavating and grading. This is usually a very fast process but can be costly depending on the job.
project will be avoided because the materials needed to build it add up to a great expense
The first and most crucial step is to create a solid plan. Plan should include the techniques, tools and data that are going to used in the project. The responsibilities of all the members should be distributed at this step. The utilization of resources and budgeting of the project should be done here. Management tools such as probability and Impact Matrix, FMEA are useful at this point.
preliminary sketches of floor plan with rough dimensions, and sketch a view of the house