Home improvement, as defined by the New York State Department of Taxation and Finance, is “the remodeling, altering, renovating, repairing, restoring, modernizing, or adding to any structure or to any land which is part of a residential building.” This includes, but is not limited to:
Many people undertake home improvement projects with the intent of improving their property’s resale value. This is a great idea, but not all improvements will increase resale value. The best way to ensure a project will pay for itself when it’s time to sell is to talk with a real estate agent.
When looking for a contractor to work on your home, you should always compare multiple estimates before making a decision. Home improvement contractors may vary greatly in price, quality of work, business history, and ability to complete a job on time. In addition, contractors may offer varying warranties on their work.
When choosing a contractor, you should also request references and check them before hiring a contractor to work on your home. In addition, be sure to ask the contractor if they are licensed, insured, and bonded before contracting with them. New York state law requires that contractors be licensed in order to work on any residential property. Lastly, before paying for any work, make sure that you have a written contract with the contractor that contains a timeline for the project to be completed, a payment schedule and as much detail on the specifics of the project as possible.