Included in this post is a link to the Environmental Protection Agency's website on Renovation, Repair, and Painting and how it pertains to Lead Based Paint and the new regulations which have been passed. 

http://www.epa.gov/lead/pubs/renovation.htm

If a home was built before 1978 then there is the possibility lead based paint was used in its construction. The Environmental Protection Agency estimates 87% of homes built before 1940 have some lead-based paint and 24% of homes built between 1960 and 1978 have some lead-based paint. Lead, and lead-based paint can cause brain damage and nerve damage, especially in children, and even in low amounts. This is serious information here, and could save the life of your, or someone you knows, child.

Renovating a "great old home" or an REO you picked up for a good deal is an excellent idea for many reasons, however please beware of the health risks associated with the remodeling.

As well, these regulations now enforced upon contractors will cost a little extra and therefore will be passed to the consumer. So expect a small increase in the renovation costs associated with older homes.

Thank You

Marc

Download Louisiana New Home Warranty Act

Attached is a copy of the Act. I include this because discussion of this Act has come up many times when clients and I are viewing new construction homes. This warranty protects the "New Construction" Home Buyer. Please read for your protection.

In short…

• 1 year – the entire home is covered.
• 2 years – mechanicals in the home are covered. (electrical, plumbing, HVAC,)
• 5 years – structural construction of the home is covered.

There is also a "2-10" Home Buyers's Warranty which can be purchased seperately for added protection above the new home warranty act. Basically it is an added insurance policy for the Purchaser, however I will cover this in an additional post.

Thank You

Marc