Page 8 - Hawaii Renovation - Nov 14, 2021

8 HAWAII RENOVATION
NOVEMBER 14, 2021
HOMEWORKS CONSTRUCTION
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O PV Cleaning
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Plan now for a 2022 remodel
O Gutter Cleaning
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O Soft Wash Roof Cleaning 􏰀
O Spot Free Window Cleaning O Soft Wash House Cleaning
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O Concrete Cleaning
CALL NOW FOR YOUR FREE ESTIMATE (808) 313-9000 Find Us On:
Design • Sales • Installation
$1500
OFF
Courtesy Discount Limited Time Only
Tropical Plumbing and Bath is an award-winning remodeler, licensed contractor, and Building Industry Association member not to be confused with other companies in Hawaii using the name “Tropical.”
Doing Business in Hawaii since 1986 REMODELER
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560 N. Nimitz Hwy Ste 106 Honolulu, Hi 96817 (808)487-6667
Mon-Sat 9am - 3pm Or by Appointment honolulu.abbeycarpet.com
When a home- owner makes the decision to do
major remodeling or knock down an existing house and build new on the site, the first critical step is choosing a li- censed, experienced general contractor. The other major consideration is how the project is being financed.
There are several ways to finance a remodeling or building project depending on its scope and the home- owner’s financial resources. Over the past few years, with
interest rates at record lows, a cash-out refinance is often the borrower’s choice, but they may also take advan- tage of such alternatives as a second mortgage or home equity line of credit. New construction usually requires a construction loan, a type of financing with specific terms and guidelines. However, in order to go forward with the financing for a building proj- ect of any type or scope, an assessment of the cost will have to be obtained from the general contractor.
“This is a pivotal phase of the process,” says Home- works Construction presi- dent and chief administrative officer Marshall Hickox. “An unrealistic assessment can result in insufficient funding since the amount of the loan is based on documentation supplied by the contractor.”
So, choosing an experi- enced, licensed company with good references is es- sential because the client’s loan will be based on the working drawings, specifica- tions and contract the com-
pany provides. A low bid is just as unfair to the client as one that’s too high because if the project is underfunded it may not be completed and result in litigation. If a con- tractor is willing to work for less, that may sound good to the client, but the usual sce- nario is that, down the line, the company may cut cor- ners to complete the project — or tack on change orders, which means additional cost.
“When we first meet with a prospective client, we re- view our completed projects so they will understand what can be achieved in various price ranges. If the family is on a tight budget, we ask them to describe their needs and give us a wish list. If their vision exceeds their budget, we can start the process of value engineering to find ways to remodel or build them a new home for their desired budget.
“At this point, we would still be in the pre-contract phase, so they have no obli- gation to us. They’re free to continue ‘shopping.’ If they tell us they have a lower bid, we suggest reviewing the proposal to make sure every-
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Cabinets starting at $30 ea
We also carry
• Faucets
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• Solid Wood • Flooring
• Granite
• Cabinets
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Free Estimates for
New House & Remodeling, Additions, Kitchens and Baths
Ph: 848-8820
Fax: 848-8825
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