NEW YORK (CNN/Money) - If you've ever dreamed of adding that master suite or converting your basement into an entertainment center, now may be the best time. That's because contractors -- who are much in demand in the spring and summer -- usually have far fewer jobs in the fall.

Problem is, for many of us, home renovation can turn into a headache. According to the National Association of Consumer Agency Administrators and the Consumer Federation of America, home improvement contractors have been the fastest growing category of consumer complaints.

The problems? Construction delays, spiraling costs, and shoddy workmanship. But with a little research and planning you can sidestep these problems. Here are today's five tips:

The key to not getting taken is having solid information to begin with.

Start by consulting www.remodelingmagazine.com to find out just how much your renovation is likely to cost in your part of the country. Make sure those average costs fit well within your budget.

Next, check www.handymanonline.com for contractors in your area who are legitimately licensed and carry liability insurance. Run those names by family members, plus the local town or city building code enforcement officer, who can also tell you the good contractors from the bad ones.

CNNfn's Gerri Willis shares five tips on how to avoid construction delays when dealing with a contractor. Play video (Real or Windows Media)

Insist on seeing work they've done on someone else's nickel. Make sure they've been in business for a number of years. Many go out of business or change their names due to consumer complaints or mismanagement, so get someone with a track record.

Don't go with the cheapest contractor either. Consumer advocates say a low-ball price can indicate a scam artist. Remember, many of the costs contractors face are fixed, such as materials and labor.

Even if you get a great general contractor, the person who manages the various tradespeople needed to complete a major project -- you can still get stuck with novice carpenters or plumbers.

Visit homes in which your contractor's carpenter has done finishing work and if you like what you see get it in writing that a particular subcontractor will be hired.

Most contractors will want you to sign a boilerplate agreement based on one developed by the American Institute of Architects. It lays out the job details including payment schedule.

Whatever you do, don't let your payments get ahead of the work. Plan on paying 10 percent down, 25 percent when the plumbing and electrical work is done, 25 percent after cabinets and windows and 25 percent for flooring and painting.

Home remodeling is a growth business and if you want the full attention of your contractor, you'll have to compete for it.

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Be the squeaky wheel with your contractor; set up formalized meetings that you hold in person or on the phone. And then assign one family decision maker to talk to the contractor (not a site supervisor or sub contractor).

Ask for work schedules, so you can determine whether the contractor is meeting his or her own deadlines.

When the project is about to wrap up, it's not enough to develop your own "punch list," of final items you want to see finished. Amy Johnston, president of the Dream House Institute, says you'll want the contractor to make up his or her own punch list first. Otherwise, you risk his doing only the last-minute fixes that you catch.

Gerri Willis is a personal finance editor for CNN Business News. Willis also hosts CNNfn's Open House, weekdays from Noon to 12:30 p.m. (ET). E-mail comments to 5tips@cnn.com.