The first step in adding value to your home is hiring the right contractor to complete the project. These guidelines will help you make the right choices to protect your investment.
Send a query to an e-mail group that covers your neighborhood, or check watchdog Web sites, such as AngiesList.com. Be aware that a contractor's references will showcase the best work, not the goofs.
Consider only licensed contractors or members of a professional group, such as the National Association of the Remodeling Industry. If things go wrong, you'll have venues where you can air a grievance, and perhaps tap a homeowners-reimbursement fund. Find your state's rules at www.contractors-license.org.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Spell out the details. Contracts should specify a start date, a completion date and a payment schedule -- for example, 10% down, 10% to 15% after each major milestone and the final 10% only upon satisfactory completion of the project.
Be excruciatingly exact. Instead of instructing contractors to "install cabinets," try "install 42-inch, country-style oak kitchen cabinets per plan, manufactured by company XYZ, model ABC, with finish EFG and matching 3-inch dentil crown molding."
Ask for receipts after each subcontractor is paid, or write checks jointly to the contractor and subcontractors. Or hire a third party, such as the bank that's administering your loan, to make the payments on your behalf.
NEXT: Protect Your Home and Valuables
JUMP TO:
Finance
Credit
Retirement
Investing
-
9 Types of Insurance You Don't NeedFinancial Planning If you're paying for these types of insurance, you may be wasting your money. Here's what you need to know.
-
Are You Putting Yourself Last? The Cost Could Be Your RetirementIf you're part of the sandwich generation, it's critical that you don't let the needs of your aging parents come at the expense of your future.
-
Time to Prepare for Disasters Like They Could Happen to YouYou can no longer have the mindset that "that won't happen here." Because it absolutely could. As we head into 2026, consider making a disaster plan.
-
How to Search For Foreclosures Near You: Best Websites for ListingsMaking Your Money Last Searching for a foreclosed home? These top-rated foreclosure websites — including free, paid and government options — can help you find listings near you.
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage RatesLuxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
-
Looking to Relocate? Plan for Climate Changebuying a home Extreme weather events are on the rise. If you’re moving, make sure your new home is protected from climate change disasters.
-
Retirees, A Healthy Condo Has a Flush Reserve FundSmart Buying Reserve funds for a third of homeowner and condo associations have insufficient cash, experts say. Here are some cautionary steps you should take.
-
Cash Home Buyers: New Services Offer Help Making All-Cash OffersBecoming a Homeowner Some firms help home buyers make all-cash offers on homes. Weigh the fees before you sign on.
-
Home Sale Prices in the 50 Largest Metro AreasBecoming a Homeowner What’s happening in the market where you live?
