Q: My wife and I are in the process of planning our last home. I am interested in incorporating the latest “technologies” (i.e.: on-demand hot water, home entertainment wiring, computer hookups/wiring throughout the home, intercom, in-house vacuum, etc) into the home now, rather than trying to retrofit.

Can you direct me to a web site or publication that discusses the latest technologies that a home should have. I’m also interested in your thoughts on the basics: cement wall vs block for basements, 2x6 vs. 2x4 exterior walls, vinyl vs. hardiplank, etc.

M. & E. Butters
Burke, Va.

A: The best place I’ve found to research the latest building technologies is at www.ToolBase.org. The Tool Base Service is operated by the National Association of Home Builders’ Research Center and is the housing industry's resource for technical information on building products, materials, new technologies, business management, and housing systems. The site is partly funded by the Department of Housing and Urban Development (HUD) through PATH--The Partnership for Advancing Technology in Housing program, and other industry sponsors. Most of what you’re seeking is in the home network wiring area. To get to that particular area Click Here

The New Building Technologies is a great place to hang out for a while as you research the technologies you want to use in your “final home.” Use the search engine to discover the latest technologies, and profiles of these systems, along with ideas on pricing for purchase and installation, and a list of organizations that can help you with even more product knowledge – including retailers and installers.

On the information-age wiring profile, for instance, it gives a run down on cost:

“Costs for running structured wiring in an existing home will be about $1000 to $3000, or between $600 and $2000 for new homes, not including the cost of a central controller. Wireless systems are expected to cost between $100 and $150 per connected device. Additional costs for the central controller, programming and set-up may be incurred. Most complete home automation systems on the market run about $3500.”

You are wise in planning for these upgrades before you ever turn one shovel of dirt. As you can see, the cost of retrofitting is nearly double the expense of installing these systems right up front.

Q: My neighbor is interested in buying a very expensive piece of property on the water in Florida but he wants me to sign a first right of refusal. I am not sure what this means and if you could help me I would appreciate it. He says we could live on the property until this happens so I am not sure if he is trying to make this a tenant deal.

Pam

A: A right of first refusal is simply an agreement between a seller and a potential buyer allowing the buyer the option to purchase a home or business in the future by matching any other bids. It protects the buyer from losing the deal to another seller without knowing about it first. If an offer comes in, the buyer would have to match it or walk away from the deal.

For example, your neighbor, Buyer A, offers $1 million for the waterfront property and you sign the contract along with the right of first refusal clause included. Buyer B comes along before you’ve completed the deal and offers $1.1 million. You cannot just take the offer and run now because Buyer A has a Right of First Refusal clause in his contract. You have to go to Buyer A and let him know about the new, higher offer. Buyer A must now either meet the offer or lose the deal. It sounds like your neighbor wants to have you live on the property until settlement day.

The only reason I see the need for a right of first refusal in your situation is that he wants a delayed settlement date, whereby another offer could realistically come in. Your neighbor is trying to preserve the deal and not lose it if a better offer comes in to you while you’re waiting for settlement without his being allowed to match it. If you go forward with this, I would put a “time is of the essence” clause on the right of first refusal addenda, meaning, he must respond within 24, 48, or 72 hours once you’ve notified him of the new offer.