The Process

The Beginning

Where do I start?

Gather examples of what you like and organize your ideas. Determine your budget and then give Equity Builders a call. We're glad to discuss your project and review the possibilities with you. If you have a project requiring structural change, we can recommend an architect or collaborate with one you've already chosen. As the most successful projects are a team approach, Equity Builders likes to be involved early in the process to understand a client's vision and advise on feasible and cost-effective options.

What about financing?

The most common options for financing a remodel are a line of credit based on existing assets, a home refinance, or a construction-type loan which converts to permanent when the project ends.

What if I don't know exactly what I want?

Equity Builders works in partnership with clients to realize their own sense of style. We collaborate to review options and help make choices to ensure the finished product reflects your unique taste.

Should I remodel or move?

A good exercise to determine this is to add your estimated remodel budget to the current value of your home and look for houses in that price range to discover what is available and what your home may be worth after a remodel. After doing this research, many people find a remodel is the best option. A trusted real estate agent can help validate that your planned remodel won't "price you out of the neighborhood."

Keep in mind remodeling is both an emotional and financial investment. If you plan to move in less than five years, consider what will yield the best return on a monetary commitment (typically kitchen and bathroom remodels, and siding replacement). However, if you plan to remain in your home for more than five years, consider the emotional investment and identify aspects that will improve your quality of living.

How much will the remodel cost?

Average cost per square foot can range from roughly $20 - $300 depending on design and specifications. Visit completed projects to get a sense of the varying levels of quality and scope that influence budget. Anticipate paying more for your project than originally planned, because even with detailed estimates, people often add elements as the project evolves. For instance, you might decide to add ceiling speakers while the remodel is underway, or upgrade to an extra bath as new pipes are already being routed. The good news is, these periodic "adds" typically result in a better investment than originally planned.

How do we get the project started?

Equity Builders develops an initial cost estimate and project plan by studying existing plans, creating conceptual designs either in-house or with an architect, and conducting site visits. Work begins once the permit is issued and the contract signed.

What about permits?

Most cities and counties require permits for plumbing, electrical and structural changes, which can take from two to three weeks to obtain. Architects coordinate permit application for large projects, while homeowners or the contractor make arrangements for smaller projects.

During the Project

How does Equity Builders charge for its services?

Equity Builders is a “fixed priced contractor”, meaning we tell you the actual cost for your project before beginning. This allows you to set a budget and stick to it. You may want to make changes in the project once it begins and these are completed on “cost plus basis.”

Should I live in the house or move out during the remodel?

Living in your home during a remodel can be challenging and is especially hard on small children and pets. Also, if you do live in your home during a remodel, it can take longer and may cost more to complete the project, as consideration for homeowner safety and comfort does affect project efficiency. However, many of our clients have survived (even thrived) while staying put, but advise to relax your normal cleanliness standards as dust and dirt is present despite daily sweepings.

What's it like to have construction workers show up every day at 7:30 AM?

We'll let our clients answer this one!

How should I interact with the crew and subcontractors?

Being considerate of the crew (water, coffee, occasional break-time snacks and most importantly, treating them like the professionals they are) will pay dividends and make the project more pleasant for all involved. Be aware that when you are visiting with the crew or asking for additional tasks, they are on the clock - your clock! Extending their work time can cost money and delay project completion.

How and when will decisions be made?

It can be overwhelming to think about all the decisions that need to be made during a project. The good news is they don't all have to be made at once! We believe the whole job, from initial concepts to finished product, is an evolving process, one that Equity Builders enjoys helping clients through.

Our process is to present decisions at the appropriate time during the project. Decisions that impact structure need to be made before framing begins, while paint colors and appliance choices can wait until much later. Our premier subcontractors and suppliers provide a variety of options to choose from. Decisions will need to be made in a timely manner to keep your project on schedule, but keeping you up to date on what needs to happen when will be part of your regular progress meetings.

What's the communication process?

Equity Builders holds weekly or monthly progress meetings with clients dependent on project scope. Site supervisors manage job site day-to-day operations and immediate issues. High-level project and design questions are addressed with John Elsey, who is readily available.

What about changes to the original project scope?

Ideally, major changes to the original scope will be documented on a change order form, estimated and signed by the client and Equity Builders. Changes may be authorized verbally, but should be documented at least by email so all parties have a record.

Unexpected changes or upgrades to the initial project can combine to quickly put the project over the original budget. Equity Builders does its best to anticipate the impact of changes, but we also encourage clients to take the time to understand their statements and be aware of progress on the job. This will minimize surprises during a billing cycle.

How is Equity Builders held accountable for the quality of its work?

Equity Builders implements a variety of factors to ensure quality: hands-on project management from start to finish; long-term relationships with sub-contractors; adhering to quality standards that have been developed by the National Association of Home Builders, The Builders Association of Greater Indianapolis and the 2/10 Home Buyers Warranty; liability insurance; written contracts with all subcontractors and most importantly, a passion to meet our client's expectations for excellence.

The End and Beyond

Just when the Equity Builders crew begins to feel like "family", the project nears completion. Equity Builders conducts a final walk-through with the homeowners, confirming that the job has been completed to their satisfaction and noting any details that need to be finalized. This is where most of our competition leaves you. However Equity Builders will contact you after 90 days to see if any aspect of the remodeling project is in need of minor adjustments. We also perform a “One-Year Quality Inspection” with you to insure that any nail pops or settlement issues are addressed. All of the heating, cooling, plumbing and electrical systems in your addition are automatically covered for two years from the date of completion, and any structural members that are added during the project are covered for 10 years. These warranties are automatically transferred to the new owner if you decide to sell you home in the future so they can be used as an extra added bonus to attract potential buyers.