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Frequently
Asked Questions
Owning
Your Home - Q & A
Improving Your Real Estate
Q:
What are some guidelines to follow when trying to find a contractor?
A:
While hiring contractors recommended by friends is usually a safe
route, never hire a construction professional without first checking
him or her out first. If your state has a licensing board for
contractors, call to find out if there are any outstanding complaints
against that license holder. Also, call your local Better Business
Bureau to see if there are any complaints on file.
If you are
satisfied with the answers you find there, interview the contractor
candidates. Ask what kind of worker's compensation insurance they
carry and get policy and insurance company phone numbers so you
can verify the information. If they are not covered, you could
be liable for any work-related injury incurred during the project.
Also be sure that the contractor has an umbrella general liability
policy.
If they pass
the insurance hurdle, next check some of their references. A good
contractor will be happy to provide as many as you want.
Finally,
don't let yourself be rushed into making a decision no matter
how competitive the market may seem. Also, never pay a deposit
to a contractor at the first meeting. You may end up losing your
money.
Q:
How much will I spend on maintenance expenses?
A: Experts generally agree that you can plan
on annually spend 1 percent of the purchase price of your house
on repairing gutters, caulking windows, sealing your driveway
and the myriad other maintenance chores that come with the privilege
of homeownership. Newer homes will cost less to maintain than
older homes. It also depends on how well the house has been maintained
over the years.
Q:
Where can I get a list of architects?
A: For information on architects, contact the
following: American Institute of Architects, 1735 New York Avenue,
N.W.; Washington, DC 20006 or call (202) 626-7300.
Q:
Where do I get information on remodeling?
A: Try these sources:
- National Association of the Remodeling Industry, 4301
N. Fairfax Drive, Suite 310,Arlington, VA 22203; (703) 575-1100.
- "Rehab a Home With HUD?s 203(K)," published
by the U.S. Department of Housing and Urban Development,
7th and D St., S.W., Washington, DC 20410.
- "Cost vs. Value Report," by Remodeling magazine,
1 Thomas Circle, N.W., Suite 600, Washington, DC 20005.
$8.95 per copy; call (202) 736-3447 for credit card orders.
- "The Doable Renewable Home," by the Coordination
and Development Department, American Association of Retired
Persons, 601 E St., N.W., Washington, DC 20049.
Q:
What repairs should the seller make?
A: Most sellers like to make all minor repairs
before going on the market in order to seek a higher sales price.
In addition, nearly all purchase contracts include a buyer contingency
"inspection clause," which allows a buyer to back out
if numerous defects are found. Once the problems are noted, buyers
can attempt to negotiate repairs or a lower price.
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