Constructing a basement involves serious structural work - particularly underneath an existing building. Robin Wemyss from local firm Maro Construction who have a dedicated Basements & Groundworks division has shared his top 8 non negotiables that anybody considering embarking on a basement or indeed any construction project should check first.
1) Check the contractor’s insurance - is it up to date? Does it cover your planned project? They should have contractor's all risks/contractor’s liability and PI insurance in place. If they don’t, don’t touch them.
2) Check the contractor’s financials- do they have a sensible amount of assets on their balance sheet and a sensible amount of retained earnings? Can they continue to operate and complete your project if an unrelated project goes wrong somewhere else? Counterparty risk in construction has never been more important. It’s staggering how few people do their due diligence.
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