Adding a deck to liven up your backyard or completely renovating your kitchen can give you more enjoyment of your home as well as raise its overall value. It’s exciting to plan out you property facelift, but before you ask your contractors to start, you need to be aware of a few things first. If you are thinking about making improvements to your home, here are some things you should think about first.
Depending on what improvements you will be making, you may need a building permit. Requirements for such vary from location to location depending on the township. We help individuals and businesses obtain all appropriate land-use approvals to avoid problems with permits, environmental regulations, local zoning ordinances, and construction plans. If you are using a contractor, the building permit should be issued in their name—that way you won’t be held responsible for any problems.
The IRS gives homeowners tax breaks for energy-efficient improvements. You may be able to deduct a substantial part of the cost of a solar energy system, residential wind turbines, geothermal heat pumps, or other environmentally friendly improvements.
Choose a Reliable Contractor
Before hiring a contractor, you should check licensing, get several estimates, and understand the contract before you sign it. An unqualified and dishonest contractor can cost you money and cause problems down the road.
Under state law, home improvement contractors are required to register with the New Jersey Division of Consumer Affairs every year to receive a municipal construction permit. Those without a permit are prohibited from performing home improvement work in New Jersey. Your contractor should be able to provide you with their documentation if asked, and if they can’t, look elsewhere.
Improvements May Help Avoid Foreclosure
If you are struggling to pay your mortgage payments and have made significant improvements to your house, refinancing could help you avoid foreclosure. Refinancing can make your monthly payments will be more affordable, but it will take longer to pay off your mortgage. Major home improvements can significantly increase the market value of your house. As a result, you may qualify for refinancing.
Before you undertake your home improvement project, give James E. Stahl a call at today: (732) 422-1000. We’ll review your contractor contract to ensure that you are protected in your endeavor. Let our professionalism, knowledge and reputation in the community work for you.