HighCraft Builders was featured in the May 2008 issue of Lydia's Style Magazine, and will be again in the June 2008 issue! We were recently asked to take part in a feature article that introduces homeowners from two of our recent remodels. The article discusses why these couples chose to remodel instead of purchasing new homes, and how HighCraft was able to help them bring their dream homes to life. Look for HighCraft Builders' article in this month's issue of Style, or click here to be directed to Style Magazine's website.

Remodeling
Success 101

Q: How long should it take to complete the punch list?

A: Every remodeler is different, but quality remodelers address the punch list as quickly as possible to ensure your overall satisfaction with your project and reduce any inconvenience to you. We work closely with our clients to schedule the completion of punch list items. High-priority items are dealt with immediately, while less-critical items are satisfied through a mutually agreed upon time frame.

We were delighted at the positive response we received from several of our subscribers about the recent article we published on the language of remodeling. Thank you! We consider clear communications essential in achieving a successful remodeling project. Construction industry jargon can cause confusion and muddy the waters, so here are a few additional terms to help bridge the language barrier:

• Allowance. In almost every remodeling project, there are specific finish items that are to be selected by the homeowner. An allowance is simply a line item amount -- within the negotiated budget for the project -- to be spent on a particular item or category, such as lighting fixtures or cabinet styles. The remodeler provides a variety of options from which to choose, instead of assuming the homeowner's preferences.

• Cost Plus. A "cost plus" contract is a type of construction contract in which the homeowner pays for the cost of materials and labor plus a specified amount for the remodeler's markup (overhead and profit margin). Other common types of contracts include "time and materials," in which the homeowner pays for hourly wages and costs of materials (including markups) as those expenses occur, and "fixed price" contracts, in which a fixed price for the entire job is stated in the contract.

• Payment Schedule. This schedule, specified by contract, sets out when, how and why payments will be requested (or billed) and paid during the project. The payments are tied to the commencement of the next stage of the project or a certain amount of elapsed time, such as by the 10th of every month.

• Punch List. Although we closely monitor each phase of a remodeling project, there are always a few details that need to be addressed before we and our clients are completely satisfied. These non-emergency details are typically discovered and documented during a "walk-through" or inspection of the work when it is near completion. A list is made -- called a "punch list" -- of those items requiring attention, often in order of urgency. Occasionally, we also develop punch lists during construction for a particular phase of work, such as plumbing or electrical, before moving on to the next phase.

• Implied Warranty. By state law, an implied warranty makes us, as the remodeler, responsible for building code compliance and the completed condition of each project we complete. Put another way, an implied warranty provides assurance that the remodeled feature, such as a room addition or updated kitchen, has been built to basic safety and health standards.

• Expressed or explicit warranty. Professional remodeling contractors usually offer an express (or explicit) warranty that states the terms, procedures and conditions under which the contractor agrees to be responsible for maintaining or repairing any aspect of the remodeled area after the project is completed. This warranty is effective for a specific period of time, generally for one year.

These terms only scratch the surface of the builder's vocabulary. You can add to your language skills at 'Contractor's License' website (Click here), for a free online glossary… and keep those cards and letters coming!

Warm regards,

info@highcraft.net
www.highcraft.net

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