As a homeowner, you may have heard terrible stories about contractors who left the homeowner hanging. A recent television show featured unscrupulous companies who would contract to replace a roof, but would disappear after only removing the old roof. As a homeowner who has never before worked with a contractor, you may feel the weight of your inexperience, and are hesitant to proceed just in case you make “be taken”. Fortunately, most contracting companies are not as evil as their dramatic counterparts on television, and many homeowners find working with a professional contracting company a rewarding experience. However, it is true that the interests of the contracting company are not exactly the same as yours.
Even the most professional contracting companies have to work hard to turn a profit. They will often accept low-bid jobs just because there is nothing else available. They tend to work several projects simultaneously, and if they find themselves in a crunch because of problems with the weather, problems with delivery of their materials, or problems with their workforce, they are likely to favor their reduced resources toward their most lucrative projects. In some cases, a construction company may be forced to terminate the project regardless of the circumstances, due to the death of the owner, or financial problems. Fortunately, you as the client have New York surety bonds to protect you. In these eventualities that all have some likelihood of occurring, you can be confident that New York surety bonds will protect your investment in your home.