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Protecting yourself as home renovations boom

We see trends in every type of industry, from cuisine and fashion to business and family law. Identifying these trends is interesting, as it can help to point out the various reactions and consequences of heightened popularity.

For instance, recent reports note that there is a trend in home remodeling projects across the U.S. Today, we are seeing a surge in homeowners remodeling existing home as opposed to building or buying new homes. In fact, it is expected that more than $300 billion will be spent on repair and remodel projects this year. This trend of repairing or updating what already exists can mean a few things for homeowners right here in Florida.

To begin with, it means that many more people will be working with contractors, subcontractors and suppliers, and they'll likely be working on larger projects. With more work to be done and more money on the line comes an increased stake in a project for all parties.

Under these circumstances, protections like your construction contract will prove to be especially critical. 

However, the high demand for contractors and other workers could lead some people to get too anxious and move forward on a project without first putting expectations, demands and obligations in writing in a contract. This could be an expensive and unfortunate mistake if and when you and another party do not see eye to eye.

The increased rate of projects could also mean that contractors and suppliers have less time to devote to repairing things that were done improperly and less patience for parties who fall behind on payments.

In any of these scenarios, the most efficient and effective way to resolve the problem may be to take legal action, whether this includes, mediation, arbitration or litigation. There can be a lot on the line for all parties involved in a construction dispute, and resolving the situation sooner rather than later can be crucial, especially when you recognize that there could be a lot of money and a house on the line.

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