10 Things Every Remodeling Contract Should Include

By Kelly Quigley

The contract is a critical step in any remodeling project; it holds the job together and ensures that all parties agree to the same vision and scope.

The National Association of the Remodeling Industry spells out the following key elements that every remodeling contract should have:

1. The contractor's name, address, phone number, and license number.

2. Details on what the contractor will and will not do.

3. A list of materials for the project in your contract. This includes information about the size, color, model, brand name, and product.

4. The approximate start date and completion date.

5. All required plans. Study them carefully for accuracy. Insist that you approve them and that they are identified in your written contract before any work begins.

6. Written notice of your right to, without penalty, cancel a contract within three business days of signing it.

7. Financial terms, spelled out in a way that you understand. This includes the total price, payment schedule, and any cancellation penalty.

8. A binding arbitration clause, which you'll need in the event a disagreement occurs. Arbitration may enable you to resolve disputes without costly litigation.

9. Everything you've requested. Consider the scope of the project and make sure all items you've requested are included. If you do not see a specific item in the contract, consider it not included. Never sign an incomplete contract.

10. A warranty covering materials and workmanship for a minimum of one year. The warranty must be identified as either "full" or "limited." The name and address of the party who will honor the warranty (contractor, distributor, or manufacturer) must be identified. Make sure the time period for the warranty is specified.

Published: April 2009 REALTOR magazine

Reprinted from REALTOR® magazine with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

5 Home Remodeling Trends for the New Year

Remodeling and decorating trends in 2010 are likely to reflect the fact that many home owners are settling in for the long haul.

Here are some ideas for updating homes and gardens from decorators and leading real estate practitioners:

• Environmentally sensitive furniture. Natural fibers, sustainable woods, and recycled products are key to attracting environmentally concerned buyers.
  
• Classic neutral colors. Deep gray browns and gray blues, muted beige, and chalky white will be particularly popular shades, Pittsburgh Paints predicts.
  
• Backyard gardens. First Lady Michelle Obama led the way in 2009 when she installed one at the White House.
  
• Backyard living. Wood-deck additions offer an 80.6 percent payback, according to the annual Cost vs. Value Report from Remodeling magazine and REALTOR® magazine. Simple fire pits and outdoor fireplaces also will be popular, trend-watchers say.
  
• Made in America. As more people feel compelled to support local employment, U.S. manufactured products and antiques will become more popular, says Patricia Shackelford, author of design blog, Mrs. Blandings.

Source: Orlando Sentinel, Jean Patteson (12/26/2009) and Kansas City Star, Stacy Downs (12/27/2009)