Home improvement, also known as home renovation or remodeling, is the process of renovating and making additions to one’s home. It can be done for a number of reasons; increasing the home’s resale value, improving the quality of life within the home, adding convenience and functionality, or adapting it to new uses. Home improvements may also be made to save energy or make the home more attractive.
Regardless of why a homeowner is seeking to improve their property, they should carefully consider the costs and benefits before commencing any work. It is important that they obtain quotes from several contractors and not rely solely on price when making their decision. A contractor’s reputation, reliability and ability to finish on time should also be taken into account.
It is also vital that the homeowner understands any and all terms and conditions of their contract. A contract should clearly outline the scope of work, materials to be used, cost estimate and timeline for completion, as well as any warranties relating to products or workmanship. The contract should also contain a mandatory arbitration clause, as well as the names of the persons or organisations that will conduct the arbitration and the fee schedule. In addition, the contract should clearly state that any claims against the Guaranty Fund will be stayed until completion of the arbitration proceeding. Lastly, the contract should clearly state whether any work will be inspected at certain stages and/or upon completion.