⚠️Key Mistakes to Avoid During Conversion⚠️
DO NOT use just any General Contractor. Look for someone with experience and speak to their former clients. Cutting corners here means greater overall costs and headaches in the longer term.
DO NOT forget to consult with your GC partners on permitting needs
DO NOT forget to think about your layout and how it will impact pricing. For example, less people per bathroom is more valuable to a Member.
DO NOT delay getting utilities set up and tested. This includes trash cans and wifi.
DO NOT forget to address last mile/punch list items. Have a handyman ready, or ensure that your GC understands that punch list items will need to be addressed at the end of the project. Consider a payment structure that helps incentivize quick resolution of these items (ie. withhold the last 10% of payment until final items are addressed and signed off).
DO NOT take a hands off approach to managing your GC. Have frequent check-ins and visit the job site several times.
DO NOT forget to familiarize yourself with the listing requirements that need to be addressed during conversion