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and renovations. You may want to reconsider your purchase if you cannot live with its existing condition.

If you are not experienced in home maintenance and repair, you would be wise to leave it to professionals. To locate a professional contractor in your area, consult the National Association of the Remodeling Industry. Visit their website at: http://www.nari.org/. A licensed professional contractor will be happy to provide proof of liability insurance and proof that workman's compensation payments are being made on behalf of employees. This lets you know that the contractor is responsible for any work related injuries. Obtain lien releases when any subcontractors are used to perform work on your property to indicate that subcontractors have been paid for work performed. Compliance with local laws and building codes will reduce homeowner insurance liability costs and fines associated with illegal building.

Having good insurance coverage is essential to home ownership. You may need an umbrella policy if you own a swimming pool, trampoline, or pet to ensure adequate coverage in the event of an accident or a lawsuit. Inform your insurance company of any major renovations and remodeling to make sure you have enough liability coverage.

Protect yourself from unpleasant home ownership pitfalls with careful research, planning, and adequate insurance coverage.

Learn more about this author, Linda G. Hull.
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