[Clean title screen appears with a neutral background. Text introduces “10 important tips to protect your construction investment.” Subtle background music may be present.]
Speaker (Voiceover):
“Protect your construction investment with these 10 important tips to avoid financial and emotional loss.”
[Visual transitions to planning stage. Graphics may include documents or project outlines.]
The first step is to clearly define the scope of your project and determine which professionals are needed.
No two projects are the same, and some may require specialty licensed contractors.
Ensure building plans comply with state building codes.
[Scene shifts to contractor evaluation. Visuals may include estimates or comparison graphics.]
Do not rely solely on the lowest price when reviewing contractor estimates.
Evaluate both cost and quality of materials, and confirm the estimate includes total price, materials, payment schedule, and project timeline.
Check at least three references and obtain a minimum of three estimates.
[Visual transitions to licensing and verification. Icons may include licenses or checkmarks.]
Verify that the contractor is properly licensed or registered by contacting your state’s regulatory agency.
Additional licensing information may be found on the NASCLA website.
[Scene shifts to contract details. Graphics may include documents or signatures.]
The contract should clearly describe the work, materials, and equipment.
Ensure it includes a payment schedule and timeline for completion.
Review the contract carefully before signing, document any changes in writing, and confirm permit responsibility and proof of liability insurance.
[Visual transitions to payment guidance. Graphics may include warning icons.]
Keep the down payment minimal and avoid contractors requesting large upfront payments for materials.
Do not allow payments to exceed the progress of the work, and never pay in cash.
[Scene shifts to project monitoring. Visuals may include jobsite imagery.]
Monitor the progress of the work and ensure all required permits are visibly displayed during construction.
[Visual transitions to liens and supplier payments.]
Suppliers may place liens on a property to secure payment.
Before making payments, confirm the contractor has obtained lien releases from all suppliers.
[Scene shifts to project completion.]
Before making final payment, confirm that all work is completed to your satisfaction and that all liens have been released.
[Visual transitions to recordkeeping.]
Maintain records of all project documents, including contracts, changes, invoices, receipts, and correspondence, as well as photos of the work in progress.
[Final informational screen appears.]
For additional resources, contact state contractor licensing boards, FEMA, the Better Business Bureau, the Federal Trade Commission, state consumer protection agencies, or the National Association of Attorneys General.
Speaker (Voiceover):
“We hope these 10 important tips help you protect your construction investment.”
[Closing screen appears with a clean layout. Branding or logo may be displayed. Background audio fades.]
