Before you invite a contractor to your house to supply you with a quote, make a detailed list of the items that you want to have the contractor price out

Divide the list up by rooms can be very helpful. This list will help you understand what you want and will give equal grounds for contractors pricing.

When you price out work to be done by more than one contractor you need a level playing field so that you can be assured that they will be delivering the same product.

The lowest price is not always the best price. Sometimes the lowest price is indicative of an error the contractor has made or inexperience with this type of work to properly estimate it. If the contractor finds out he's going to lose money on the work, he could look for ways to cut costs, add unjustified extras to the bill or even abandon the job unfinished. Either way, it's trouble.

Insurance

• Don’t be afraid to ask for proof of insurance, it is your right as a home owner to demand that your contractor carry valid insurance which covers you in case of any accidents on the job site (i.e. someone dropping an expensive vase or scratching an original oil painting).
•  Some contractors may threaten to not do work on your property if you demand insurance but do you want someone like that working on your property?

References

• If your contractor is a good one, they will have a list of references detailing at least 10 different clients with up-to-date contact information including: name, address, phone number(s), and info on the work done including quote.
• Don’t be afraid to call one of the references and ask if they had an overall good experience with them and if they would use them again.
• Contractors with nothing to hide will not be offended for asking for references.

Contracts

• Before you agree to have the contractor do work on your property, it is the contractor’s responsibility to provide a contract containing all their contact information and detailing the work which will be completed on your property, and a payment schedule.
• It should also be stated in the contract that you will not pay any costs above the quote unless agreed to in writing.

Down payments

• Down payments are seldom required on routine home improvements and repairs; even major projects are often initiated without a cash advance.
• If a down payment is required, it should not exceed 10% of the contract price unless special appliances, materials or custom cabinetwork must be ordered by the contractor.
•  It may be advisable that large ticket items can have cheques payable jointly to the contractor and supplier.

Terms

• It isn’t a bad idea to put some terms on your contract, i.e. contractor agrees to clean up at the end of each work day, no smoking inside garage etc. 
• Never give the balance of the quote due before the contractor has finished all of their work.
•  Make sure you never pay in cash without getting a receipt.
• Always pay by cheque or certified cheque. It is important to keep a paper trail in case you ever have to go to court.
• It is always important to get a receipt for every payment you pay the contractor, signed and dated by the contractor.

Final Words of Caution

• Most importantly—BE CAREFUL WHAT YOU SIGN.
• A good contract should be typed, legible and easy to read.
• There should be no fine print. And remember—always trust your first instincts as they are usually correct.

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