For today’s Newsday Tuesday I want to highlight a story about a form of contractorShort for “general contractor” a contractor is an individual hired by a homeownerUsually the name-on-the-mortgage/pays-the-bills person, the homeowner is the one who contacts the contractor to do a jobA job is a term for whatever tasks are in the contract for the contractor to do. These are generally more specific than “home maintenance” and usually are broken down into a scope of work which contains each individual task such as plumbing, electrical, or drywall. They are the point person for Safepact on things like funding the transaction, approving the work, and releasing payment to the contractor. or an architect to oversee work that is being done on a home. Sometimes the work will be done by the contractor, but often times the contractor will hire subcontractors to do some or all of the work. For a more detailed explanation of contractors and their responsibilities read more about it on our blog. scam that isn’t the
“takes your money and runs” type
of scam. When a salesperson (in any field of business) convinces you to buy something or invest in something that you don’t need, or doesn’t work for you, then this is a type of scam. In this article the BBB warns against homeowners who buy into solar paneling on their homes (which can cost as much as $60,000!) because a contractor convinces them to do it, even though it’s not needed.
I am all for doing things to green up your home, and finding cool and interesting ways to save money, but solar paneling can take a lot of work and cost a lot of money without seeing the benefits of it. There are literally hundreds of other instances where you might be going out and shopping for something and a salesperson will try and upsell (industry term) you to a “better” (and more expensive) product. Selling things to people that they don’t need is just as much stealing money from them as grabbing their wallet is.
Whether it’s solar paneling, a “better” water heater, or a “more efficient” HVAC system be sure to be on your guard when purchasing a product. Make sure that the pros out weigh the cons, and that the investment it takes to install a newer and better model will pay off in the end.
Build (and buy) safe out there.