Summer home improvement
Phil Moon Son Homeowners often have difficulties with the following: 1. Finding a qualified and capable contractor that they feel comfortable with and that they can trust. 2. Finding the right balance between what is desired and what can be afforded in the planning process. 3. Finding the best financing, tax credits and grant options for their renovation, improvement or additions project. The first step to finding the right contractor is definitely the most important, a good contractor that the homeowner feels comfortable with can guide them through the regulatory process, save money, eliminate risk and beautify the home. Most homeowners spend many hours and days discussing and exploring the design of the addition, improvement or renovation, however even more time should be devoted to finding the right contractor and the right financing package. Some home improvements may qualify for some grants and tax deductions along with saving the home owner money. Louie Azzolini, the new executive director of the Arctic Energy Alliance, says the Energy Alliance has a wide range of helpful tips on how to improve the energy efficiency of your home or business. "This summer as you plan your home renovation you might want to get a home energy evaluation first. The home energy evaluation helps you decide how to get the biggest bang for your home invest dollar. After the Arctic Energy Alliance has completed your energy evaluation; which takes about a day to complete, you'll have access to a dedicated AEA construction adviser for free." NWT & Nunavut Construction Association along with AEA's home construction adviser can help you select a contractor for your home improvement need. As for financing, most major banks have an approved builders list comprised of contractors from the community, banks are weary of financing projects with contractors who are not on the approved builders list or cannot get on this list. A simple information form with references is usually all the information banks need to determine if a contractor can be on the approved builders list. When bank-financing major projects, home owners can either request a line of credit or add the cost of the project to their existing mortgage. Adding the construction cost of the project to the existing mortgage can be done by what is commonly known as a construction draw. This process involves a lawyer evaluating progress reports from an certified appraiser prior to making progress payments. The appraiser usually makes three to four progress reports at around $100 a report. NWT & Nunavut Construction Association along with Arctic Energy Alliance can assist home owners with a wide range of renovation, improvement and additional questions. For more information please do not hesitate to call.
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