Coldwell Banker(R) Provides Tips for Home Improvement


A News Series from Coldwell Banker Real Estate Corporation Highlighting Real
Estate Tips

PARSIPPANY, N.J., Oct. 27 /PRNewswire/ -- Historically low finance rates
and the phenomenon of home improvement television shows and magazines have
fueled a home renovation craze. Americans are spending record amounts on
improving their homes through additions and remodeling. A CNN/Money report
estimated that more than $125 billion was spent on remodeling during 2003.
While improving one's lifestyle is a fundamental reason for a home renovation,
homeowners should also view renovations as an investment to raise the value of
a property.
With proper research, planning and thoughtfulness, home renovation can be
a rewarding experience. Coldwell Banker Real Estate Corporation has
identified several tips that can help smooth the process.

Think Long-Term: Remodeling Magazine reported that money spent to upgrade
a kitchen produces the highest return on investment. Renovating bathrooms and
adding additional rooms such as a spare bedroom or study also traditionally
score well. Consult with a local real estate sales associate to determine if
your plans will positively influence the resale value. A sales associate may
be able to offer suggestions on renovations that will provide a significant
return on investment.

Healthy Balance: You should consider a home's future value when making
renovations. Changes that enhance a homeowner's lifestyle are equally
important. More size, better layout and updated looks can go a long way
toward helping a family find more joy in their home. Life-altering
milestones -- like having children, having extended family move in and
work-at-home-jobs -- provide good cause to renovate.

Seek Out Referrals: Once committed to the process, hiring the right home
improvement contractor is critical. A great way to choose a contractor is to
contact salespeople at stores where contractors buy their supplies, such as
lumberyards, window stores, cabinet shops and hardware stores. It is also a
good idea to speak with friends, family and neighbors that have been through
the process before, as well as checking the Web sites of local community
associations. Another option is to use Coldwell Banker Concierge(R), a source
that provides information to Coldwell Banker(R) customers on qualified home-
related vendors in their community.

Obtain Multiple Bids: Always get at least three estimates on the project.
Contractors can bid the same project for completely different prices and
timeframes. Check that all the bids are based on the same scope and quality
of work, which is the only way to do a fair and effective comparison.

Interview the Contractors and Check Their Right to Work: It is important
for the homeowner to talk about a contractor's style and process. A strong
rapport and close communication with the contractor will increase the
likelihood of the project going smoothly. If, for example, the homeowner will
want to know every detail during the project, they probably will not be
content with a contractor that provides little information during the
interview. In the interview process, also verify that the contractor has a
license and insurance certificate. Most states require a contractor to carry
worker's compensation, property damage and personal liability insurance.

Follow up on References: Be sure to check the contractor's credentials.
Ask how many similar jobs the contractor has completed, how much experience
they have, whether they guarantee their work and who will be in charge of the
project. Reputable contractors typicall a good idea to make payments ahead of schedule or to outlay
significant amounts of money before the project even begins. Following this
advice provides extra security and will increase the likelihood that the
contractor will complete the job in a professional manner because of the
pending financial incentives.

About Coldwell Banker:
Since 1906, the Coldwell Banker(R) organization has been a premier
provider of full-service real estate. In 2004, Franchise Times magazine's
prestigious Top 200 issue ranked Coldwell Banker number one in real estate and
number eight among all franchisors. Additionally, the Coldwell Banker
organization received the "Highest Overall Satisfaction For First Time Home
Buyers and Sellers Among National Full Service Real Estate Firms" from the
J.D. Power and Associates 2003 Home Buyer/Seller Satisfaction Study(SM). The
study was based on responses from 2,924 home buyers and sellers. The study was
conducted for Cendant Corporation by J.D. Power and Associates. The Coldwell
Banker system has approximately 3,600 residential and commercial real estate
offices with 117,400 Sales Associates globally. Each office is independently
owned and operated except for offices owned and operated by NRT Incorporated.
The Coldwell Banker system is a leader in the industry in residential real
estate, and in niche markets such as resort, new homes and luxury properties
through its Coldwell Banker Previews International(R) division. It is a
pioneer in consumer services with its Coldwell Banker Concierge(R) program and
award-winning Web site, http://www.coldwellbanker.com. Coldwell Banker
Mortgage is one of the largest telephone/Web based lenders in the country and
the Coldwell Banker Commercial(R) system is one of the largest commercial
franchise operations with over 400 affiliates offering clients comprehensive
buying, selling, leasing, acquisition, disposition and management services.
Coldwell Banker Real Estate Corporation is a subsidiary of Cendant Corporation
(NYSE: CD).


SOURCE Coldwell Banker Real Estate Corporation
Web Site: http://www.coldwellbanker.com


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