| July 29, 2002 |
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You've been dreaming about getting your kitchen remodel project under way for months - the nice new countertops, the beautiful cabinets, the perfect floor, and the chic appliances. But have you thought about how you're going to live - or eat - while the project is under construction? You should. It's a situation that is occurring more frequently as households throughout the country upgrade, replace, and transform their homes on the heels of rising home appreciation rates and low interest rates. Each year about 26 million Americans spend more than $180 billion on improvements to their homes, according to the National Association of Home Builders. But whether you're undergoing a two-week or two-month remodel, you'll need to know how the process will go - how you'll cook if you're going through a kitchen remodel, and how you'll shower and primp for work if you're having a bathroom remodel. And how you'll live with a work crew and materials scattered about your house. As you sort out the details of your project with your contractor, the National Association of the Remodeling Industry offers some tips to ensure your project goes smoothly and your life can stay as normal as possible. For starters, be sure to: If you're going through a major remodel, you may want to think about renting or staying with relatives or friends, especially if your kitchen appliances are inaccessible during the project. But if you do that, be sure you stay in close contact with your contractor and that you check on the progress on a regular basis. Also, check your insurance coverage BEFORE the work begins. If the new work is damaged or destroyed before additional coverage takes effect, you could be responsible for repair costs, according to the Insurance Information Institute. Home insurance policies typically require that you insure your home to at least 80 percent of its replacement cost. About 25 percent of remodeling projects result in a home value increase of at least 25 percent, according to the Independent Insurance Agents of America. In such cases homeowners insurance needs to be increased to provide adequate coverage. And, of course, never make the final payment until the job is complete. |
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