Get the Lead Out..New Law…Higher Prices???
On “Earth Day” this year the EPA put into law a new Lead Based Paint Regulation. This affects disturbing any existing paint (so remodeling or scraping and painting rooms) on homes built before 1978.
I did a little research on just how many homes this affects in the Grand Rapids real estate market and found 4414 homes currently for sale which fit the description. From now on, any scraping and painting, new windows, remodeling…etc. on these 4414 homes must be done under compliance with this new law.
The Grand Rapids Press had a great article about it – read it here – which can help you understand it and how it might affect you if you own or are thinking of owning a property that is over 32 years old.
I have been surprised how many painters I have talked to who know nothing about this law – so make sure you ask your contractor if they have the RRP Certification. Check out the EPA’s website to get a little more information on both the law and the affects of lead paint on children – you can view it here.
It’s being said the cost of contracting for remodeling of any home built before 1978 might skyrocket due to the increased cost of certification. The cost for the contractors ($200 registration fee, $300 for classes, more expensive equipment, reporting and documentation) plus the fact there are very few trainers currently doing the training for certification, leaves many contractors in a bind.
As a Realtor I know this might slow down some closings, add extra costs to repairs and perhaps at a time when a seller is close to going under – might be the final blow to a possible sale. With every new law there is a learning curve and I hope this one is short and sweet for all involved.