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It’s Official: You’re Done!

Today’s the day! The moment you’ve been waiting for…drum roll…your project is finished!

I bet you are super excited to enjoy your new home.  As much as you may want to show everyone out of your house and spend the day marveling at how beautiful it is, you must close out your project first.  Closing out your project is how you verify work was performed and expectations met, close your contract, and end your financial commitment.

Here is everything you should have in your possession before you sign the final check:

A project close-out notebook – Though required for commercial projects, close-out notebooks are valuable for residential remodels, too. These notebooks will include the following (and maybe more!):

• Project history, including your initial contract and any change orders
• Warranties
• As-built drawings
• Operating manuals for any installed items, including faucets, lighting, electronics, HVAC systems, and more
• Project status meeting agendas and notes
• A list of key contacts, including subcontractor and vendors
• A final budget showing actual expenses tracked
• Payment history, including payment date, type, who was paid, the amount paid, and check number (if paid by check)
• Lien releases as appropriate
• All approved permits and plans
• Color swatches and material samples

A project punch list – If there are any outstanding items that your contractor needs to finish before the project is fully completed, make sure they are written down and shared with the contractor. All of the items on the list must be addressed in a timely manner. Only then should you make the final payment to the contractor. Schedule a walk-through with your contractor. Bring your camera in addition to your punch list to document any work that needs to be done.

Once the contractor schedules the completion of your punch-list items, set a date for another walk-through to ensure all loose ends have been tied up.

Remember, your contractor has a stake in making sure you are completely satisfied with their work. It is in everyone’s best interests for both parties to be happy with the results, so don’t sign off on anything you’re not completely happy with.