How To Pay A Builder | House Renovation Tips | Property Education 2023 | Ste Hamilton
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- เผยแพร่เมื่อ 21 ก.ย. 2024
- Welcome back to another video, with me Ste Hamilton, where I talk about how to make staged payments to a builder when renovating a property.
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I knew all these tips beforehand but with a recent new home extension, I got some quotes and ended up going with the cheapest, not due to the price but due to recommendations. Not only would he not take any money till the job was finished but also the building control man from the council and neighbours said it was the best job they had seen. I got lucky.
Where is he located? Can you recommend the name?
Thanks. This is great advice!!!! Hope you get the rewards from the man upstairs for benefit us all!!
Door frames go in before plastering , the plasterer uses them for his levels but I agree with most of what you say . From a builders point of view our concern is not getting the last payment as that is very common even when we have completed the job and completed to a high standard.
Yes door frames door linings go in before plastering
Love the shorter, straight to the point videos packed with information 🤟🏼
Any good building company will offer staged payments. It is beneficial to both contractor and homeowner and builds trust between both.
Great content as always. Keep up the updates 👍
Absolute Gold. thanks!
Absolutely fantastic, love the idea of these videos. So useful and straight on point (time wise).
Ideas for videos: how to draw a builders contract, do you sometimes split the work or you always use a contractor? How do you get inside each deal a bit in depth, how you do Ste's diligence? 😊 More ideas to come 🙌
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Great video, will 💯% be re watching this when we get builders in!!!👍🏻 Please can we have one on extensions
More of this 🙏. Absolutely amazing stuff Ste! Thank you very much for putting out this content.
More to come!
Love the video ste, Can you do a video on being a beginner, investing 50k into a property e.g. (1)BRR or (1) property Flip and how you would do it considering what area’s are good for beginners !!! Would be really useful in this 2023 market. Peace and love brother 🙏🏾
Great advice love the content👍🏼. It will certainly avoid getting ripped off or any dodgy work being completed. In the resi market too many people work off the bag of a fag packet and end up getting stung.
In my opinion you should only ever pay for what has been completed. If materials are ordered up front they are paid once on site so becomes your property and reduces the risk to you as a client.
It works the same in major construction through monthly valuations for completed works. Usually on a % basis against the schedule of works. They usually hold retention for any defects following the works being completed.
If a decent value project i would always advise a contract being in place such as a jct minor works. It will protect the builder and the client to some extent.
Amazing video. Excited to get started in my property journey, would love to know more about permitted development
Amazing ste! 👏🏾 👏🏾 👏🏾
Thank you 🙏🏼
Thanks Steven great video
Very helpful Thanks 👍👍👍👍
Found this video really interesting and so informative. Thank you
Glad it was helpful!
This video was crucial 🔥🔥🔥
I would like to see you stacking a deal and the numbers you go through when writing it down to see if it works
👍🏼 noted
Thanks Steven! Love the content best in the game
Solid video.
Could you do the breakdown of the stages of actually buying a house, for a BRRR?
Hi Ste, Thanks for the video, it makes complete sense and very helpful. Would it be possible to view an old outdated contract that you use so that I can fully appreciate the process? Cheers. John
hi ste, what do you do if the project runs over? thanks for another great video and loved the seminar on Sunday, only regret is I never got to talk to you, you were constantly surrounded .
Keep up the great work you're amazing🙏
Also yay first commen
Thank you 🙌😁
Very helpful. thank you
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Why you should rent or sell a property after refurbishing and what makes flipping or BRRR profitable, would be a god subject to cover :)
No problem
Can you do something on bad clients, what happens when all this is in place and the client for no reason decides they just don't want to pay. We have had this many times.
Would you like to do a video for the channel if I come to you? Would be great for the viewers
Great video
Next time can you get the white board in the centre of the video
Great content🔥
Thank you
who draws up the contract and if something doesnt go to plan is that piece of paper enough to back myself for the final payment or if worse case need to take to court?
Ste, Another great video!
Do you use a solicitor to draw up the contract? Any ideas or samples would be really beneficial.
Thank you for the great content!
We had a solicitor make our first ever contract so we knew it was watertight and ever since then we just adapt it to what we need but keep the structure of the original one 🙏🏼
@@h3steven many thanks for your swift response, very much appreciated! 👍
Couldn't you break the project down into a schedule of rates? This way you can receive an application for payment based on agreed rates for breakdown of the refurb. You can then (as a project manager) arrange out a project managers assessment and then pay relevant to work completed? That's what I have done before. Just wanted your thoughts on that maybe?
Massively agree with you, but new people would struggle with this and again for new people it’s hard to find builders that would agree to this 🙏🏼
@@h3steven apologies! Just wondered if that's something you would do as I have only really seen that happen on large projects such as highways or rail etc!
Thanks for the response though! You're the man!!
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