MARKETS & TRENDS
CONTRACTORS
4 Steps forVetting a General Contractor NAVIGATING NEW DEVELOPMENT PROJECTS BEGINS WITH THE BUILDERS
by Taylor Miller
mbarking on a development project of your own is an excit- ing and rewarding endeavor. How - ever, it is also a venture that comes with many obstacles. This is par- ticularly true if you are a first-time developer and not familiar with navi- gating the construction process. The key to a successful build is assem- bling the best team for your specific project. This starts with finding your general contractor. So how do you vet these individuals for competence, experience, and overall best fit to your development? E
Here are a few essential steps when vetting a general contractor and how to protect yourself within the construction contract. NO. 1 Capability and Compliance First, you will want to ensure that your general contractor has a solid track record within the community working on projects like yours. You would not want a contractor who has built only offices to build your resi - dential home. Request a breakdown of projects completed in the past
few years that are similar to your vision. If you end up finding several contractors who have a commend- able record of similar projects, then you can always narrow your search based on overall aesthetic. Next, you will want to make sure that your con- tractor is in good standing with the state. Request a copy of all business licensing and any state certifications. This will not only ensure that your contractor is compliant with all local and state regulations but will also show your contractor that you have done your research and are leaving
80 | think realty magazine :: september 2021
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