Home renovations can be one of the most stressful projects a homeowner takes on.

If it goes right, you could increase the value of your home and enjoy an improved lifestyle.

If it goes wrong, you could be on the hook for thousands of dollars, have mortgage issues or even be liable if a contractor gets hurt doing the job.

Of the $65 billion Canadians spent on home renovations in 2014, about $10-11 billion was undocumented, according to David Foster, communications director for the Canadian Home Builders Association (CHBA).

Foster warns there are no guarantees, but there are steps you can take to protect yourself and get the job done right.

Q: What are some of the warning signs?

A: Foster said undocumented, cash deals should be avoided.

Theres all sorts of risks, not the least of which is if something goes wrong youre kind of on your own. If the company youre dealing with doesnt deliver what they promised, if you have a contract, you can sue them. Its not a lot of fun, but you can take them to small claims court. If you dont have anything written down, you cant go to court.

The courts generally frown on both parties when the work is undocumented.

You cant operate outside of the law and then ask the law to resolve your differences.

Read more:
Q & A: Finding the right contractor for your home reno

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January 7, 2015 at 6:06 am by Mr HomeBuilder
Category: Custom Home Builders