One of the decisions most prospective homebuyers have to make is whether to buy a brand new house or a previously owned (“resale”) home. Here’s a comparison of some advantages to each choice:

New house:
Modern floor plans that could include a “great room,” bigger closets, more baths, etc.
The opportunity to choose upgrades and customize floor coverings, colors and more
More energy-efficient insulation, windows and heating/cooling systems
The added protection of a warranty from the home builder

Resale home:
Existing features, including window treatments and mature landscaping
Location — existing homes are often closer to metropolitan areas
Established neighborhoods that provide a sense of community
The opportunity to use an existing home as a base to remodel and create a unique property

Most people eventually need to hire and work with a contractor to perform maintenance, painting, remodeling, landscaping or other project. Here are some tips on how to best work with the contractor you’ve chosen and make sure you’re treated fairly during the process.

• Like marriage, communication is the key to a successful relationship with your contractor. If you’re unsure about any aspect of the project, just ask.

• Meet regularly with your contractor during the project and review his progress. Depending on how extensive the project is you might meet weekly or even daily.

• Nobody likes surprises, especially when they cost money. If your contractor has encountered anything unexpected once he’s started your project or if you’ve asked for anything extra that was not covered in the original estimate, ask for a supplemental written estimate.

• When the project is complete, meet with the contractor and perform a ‘walk through’. Items not up to your satisfaction are referred to as a ‘punch list’ and should be repaired or redone by the contractor before the project is complete.

• Once you’re satisfied with everything, write a check for the final payment. Never make a final payment before the project is completed to your satisfaction.

• If you’re pleased with the way your project turned out and with the contractor you chose, ask for some business cards that you can give to friends or neighbors who may be interested in a similar project.

Sooner or later you may need to hire a contractor to perform maintenance, painting, remodeling, landscaping, or other project. Here are some tips on how to choose a contractor to ensure you get a fair price and are treated fairly during the process.

• Start by writing down exactly what it is you want the contractor to do and when you want it done. Be specific.

• Make a list of prospective contractors. Ask friends and neighbors, check the phone book, your local newspaper, or online classified ads like Craig’s List.

• Meet with the contractors you’ve selected to show them your property and discuss the project in detail. Use your written description of the project to make sure you cover all the points on it with each contractor you meet.

• If a contractor suggests additional work, ask for his estimate in two parts with the second part covering the additional work he suggests beyond what was on your original project description.

• Ask exactly who will be doing the work and the extent of the contractor’s personal involvement in your project.

• For small projects, payment is usually made in full on completion. Larger projects usually require making interim payments on a weekly or monthly basis. Make sure you both agree on when interim payments will be made.

• Get an estimate in writing. Be sure it specifies all labor and materials that may be required. If subcontractors are required, be sure the estimate includes their cost as well.

• Choose your contractor based on whatever factor you’re most comfortable with: lowest price; reputation; or ‘gut feel’.

• It’s good business practice for both of you to sign a copy of the estimate and for you to give the contractor a deposit before the project begins. The deposit can be either a flat fee or a percentage of the total estimate amount.

• Never make full payment for a project up front.