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From the CNNMoney.com website, Josh Garskof (a Money Magazine contributing writer) provides six new rules for making remodeling projects payoff. As he observes, it was not too long ago that any project done correctly and within a reasonable budget would yield a payoff for the homeowner. It may not be that simple today, and Josh provides his quick primer with these simple rules: |
If you would like to see Josh’s explanation of the rules, follow this link to the CNNMoney.com website for the full article. |
Six ways to ensure remodeling pays off
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
