More Owners May Reconsider That Remodeling Project After All

Homeowners are hitting the pause button on remodeling projects, which may prompt home renovation activity to fall to its lowest level in three years, according to a new report from Harvard University’s Joint Center for Housing Studies.

Homeowners spend about 30 percent more on remodeling a newly purchased home than a longtime resident does, according to the center. In addition, higher mortgage rates make tapping home equity to pay for renovation projects more costly. On top of that, material costs are also on the rise.

Could That Home Be Contaminated With Meth?

Signs that a property has seen meth use tend to be subtle. Experts say buyers should look for burns in the carpet or patches of dead grass outside. That could indicate where chemicals may have been dumped.

How can a buyer detect meth? The U.S. Drug Enforcement Administration offers a drug lab registry of meth contamination properties, where law enforcement agencies have reported they found chemicals at these locales. But obviously not all properties where meth has ever been present will be on that list.

 

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