Thinking of renovating your (older) home? Read this!

New EPA Lead Paint Laws Effect Remodeling Projects

The US Environmental Protection Agency (EPA) is implementing new lead paint laws that go into effect tomorrow. The new lead paint laws require any renovation work performed on houses built before 1978 to be performed by a certified contractor. The new law is raising questions from home owners and contractors. Contractors will be required to provide home owners the "Renovate Right" brochure, which contains information about the new law.

The new lead paint law involves training and certification of remodelers, safe work-site practices, verification and record keeping. It’s very important to understand that the new law pertains to projects on any house built before 1978, with a few exceptions as follows:

• The home or child-occupied facility was built after 1978.
• The repairs are minor, with interior work disturbing less than six sq. ft. or exteriors disturbing less than 20 sq. ft.
• The homeowner may also opt out by signing a waiver if there are no children under age six frequently visiting the property, no one in the home is pregnant, or the property is not a child-occupied facility.
• If the house or components test lead free by a Certified Risk Assessor, Lead Inspector, or Certified Renovator.

What Does the New Law Mean To You?

You’re probably wondering what this new law might mean to you and your next remodeling project. The obvious answer is a healthier home for you, your family and people that perform renovations to your home. The other obvious answer is an increased cost for contractors to adhere to the new rules --- which ultimately means an increased cost to you.

Small contractors may choose to steer clear of and avoid older home renovations. A certain number of small replacement window contractors may go out of business or stop providing inexpensive window replacement services.

If you hire a contractor to do a renovation in your home that was built prior to 1978, be sure you hire a certified contractor. You should ask to see your contractors RRP certification prior to hiring them. (Contractors performing work without the certification face penalties of up to $37,500 per day.)

Built to last

The future of real estate looks bright. The long-term outlook for the housing market is very promising, thanks to the presence of the Echo Boomers --- the children of the Baby Boomers. The sheer size of this generation now reaching adulthood, combined with the increasing life expectancy of past generations, should keep household growth on track in the United States. Over time, the pent-up demand for housing and today's low levels of home building are expected to reduce the vacancy inventory, bringing housing markets into balance.

Built to last
Stemming from the most basic human need for shelter, the real estate industry is fundamentally built to last. The state of the housing market is impacted by many factors including mortgage rates and the volatility of other investment options. However, it is the limited supply along with the growing population that drives the need for housing.

The next surge in demand will be stimulated when Echo Boomers join the Baby Boom generation as active participants in the housing industry, reinvigorating the real estate market with opportunity and validating the purchase of a home as a lucrative investment.