Our homes can be one of our largest and most important investments. Adding home improvements, repairing damage, and keeping up with routine maintenance are all part of protecting and increasing the value of a home. For everything, including the kitchen sink, let a NARI Greater Dallas member be your partner and guide.
Here are 8 Must-Do steps before starting a home improvement project:
1. Evaluate your property. What repairs are needed? What improvements would you like? What are your future needs?
2. Carefully consider what you can afford to spend and what you can afford to borrow.
3. Shop around to find your best financing option such as a home equity loan, home equity line of credit or a secured home improvement loan.
4. When choosing a contractor, ask for local homeowner references and follow-up on them. Make sure each contractor you interview is planning to build the same project based on the same specific details. Choose a company with which you feel at ease and one that is well-matched to the scope and complexity of your particular project.
5. Request to see a copy of the contractor’s insurance, or get the name of the insurance agency, to verify property damage, personal liability and worker’s compensation insurance.
6. Review your homeowner’s insurance policy with your agent. You might need additional coverage during the project and after completion.
7. Get a thorough contract detailing what the contractor will do, specifying all materials, outlining the financial terms including how cost overruns and schedule changes are handled, warranties offered, and codes and restrictions that will be followed.
8. Do not sign an incomplete contract. Before signing make sure you understand everything and are getting what you want. For more information visit www.naridallas.org/homeowner
Careful planning of your home improvement project with a NARI Greater Dallas member will enable you to successfully maintain, update, and/or customize your living space. See our Membership Directory for a complete list of NARI Greater Dallas members.