Introduction
Home improvement is important for preserving both the safety and value of a homeowner’s property.
Home improvement is also big business.
In 1997, Americans spent more than $115 billion on contracted home improvement projects and do-it-yourself home repairs.
After age 54, the amount spent on annual home repairs declined consistently.
Second, as homeowners age, they are less likely to undertake home repairs themselves.
Often they are a combination of both.
Some older homeowners face the risk of foreclosure because they cannot meet their new mortgage payments.
Seven states do not regulate contractors at all.
Two states leave regulation to counties or municipalities.
Contractor Requirements
Twenty states require contractor licensure, and 11 states require contractor registration.
Fifteen states require prior experience of contractors, and 18 states require examinations.
Other contractor requirements include proof of financial responsibility and disclosure of convictions related to home improvement fraud.
Some states require information regarding the organization or entity to contact for filing complaints.
Prohibited acts.Thirty-six states prohibit certain kinds of acts.
These statutes generally provide victims with remedies, encourage merchants to resolve disputes fairly, and deter seller misconduct.
The fund may reimburse for certain actions of both licensed and unlicensed contractors.
Twenty-one states have both criminal penalties and civil remedies.
