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Things You Should Know About General Contractors

When it comes to building a house, a general contractor is the person who manages the construction process on the day-to-day level. The job of a general contractor involves overseeing all aspects of a construction project, including managing the trades and vendors, and communicating with all parties involved. The following are a few things you should know about general contractors. They can be an excellent choice for your next home improvement project. Listed below are some of the most important aspects of a general contractor.

Construction companies can be divided into two types: design-build and construction-only. Design-build contractors work closely with clients to conceptualize and plan their project, and oversee its completion. Often, design-build contractors have their own in-house design staff, so they can help you with any changes you might have made to the original design during the construction process. General contractors profit from labor and material costs by marking up the cost and making a profit. Typical profit margins for a GC are ten to thirty percent.

Payment terms based on the scope of work are the most common. GCs will often request a down payment to begin the project and then require the remaining money upon delivery. If the project is large, however, multiple payments may be required. In these cases, the GC will ask for payment up front, which can be risky. It is not a good idea to pay the entire amount upfront – this is most common for independent contractors, who are not bonded.

Responsibilities a general contractor undertakes vary greatly. Depending on the size and complexity of the construction project, these may include: managing vendors and workers, filing building permits, providing temporary materials and utilities on site, and coordinating with subcontractors. Additionally, the general contractor is often responsible for cash flow, writing checks to vendors and laborers. Despite all of these responsibilities, a general contractor still has to balance costs and keep accurate records of his finances.

General contractors must be licensed in their state of operation. In , all contractors working on a project with a value over $500 must be licensed. Moreover, has strict penalties for unlicensed contractors. It is important to check the requirements of your state before hiring a general contractor for your home improvement project. The Contractors State License Board regulates the licensing requirements, including education requirements and exemptions. In addition, general contractors must carry general contractor insurance.

It is advisable to research contractors before hiring them. Ask for references and examples of their previous work. Ensure the general contractor is licensed and has a good reputation in your area. You can also check with the local Better Business Bureau to ensure that he is legitimate. A well-experienced general contractor will also deliver a sturdy and beautiful final product. And don’t forget to check the qualifications of the general contractor! It is a good idea to hire an experienced and licensed general contractor to ensure that your project is a success.

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