A) You’ll usually spend less for a newer home than an old one. Expect savings of around fifteen percent for a new home. The features of a brand new home are in excellent working condition is the reason for such discounts. You don’t usually see a worn ceiling on a brand new house, do you? This means less risk to the insurer and less expensive premium for you.
Brand new homes and houses that have been renovated are lower risks to an insurer and therefore attract more affordable home insurance premiums. But keep it at the back of your mind that the wider the scope of the renovation, the more the savings you’ll get.
You’re better off considering your house payments as a percentage of your gross income. Lenders like to see that your house payments are less than 28% of your gross income and your total debts less than 41%.
If the property you plan to purchase is within a flood zone, you can purchase National Flood Insurance through a http://opentoexport.com/article/8-tips-to-keep-your-warehouse-safe/ agent. If the property is located in a flood plain, flood insurance is required when you obtain a mortgage. Flood insurance is available on homes, condos, and mobile homes and most enclosed buildings.
Carrying a higher deductible is a wise way to cut your insurance costs. It seems everyone is looking to save some money these days. Insurance companies know this too. It is why their marketing is so focused on saving money. You need to be careful. These companies know people will shop on price alone. In an effort to provide the lowest cost some will offer policies with coverage reduced and sneak in things like 2% wind hail deductibles. On a $300,000 home that is a $6,000 deductible!
Violent crime involving home invasions has been on the rise in recent weeks. From coast to coast and in the Heartland, criminals seem to be striking with a new ferocity and viciousness.
Kitchen fires: Never leave food cooking on the stove unsupervised. Educate your children about the dangers of this. Don’t forget about BBQ grills too. Relocate them away from the sides of your homes. You will not believe how fas a home with vinyl siding can melt or even catch fire if too close to your grill.
2: A new roof will always increase the value of a home. To those in the market to buy, a new one states that the home has been well maintained and cared for. You can almost always make up the difference in the sale price from investing in a re-roof project.
If you do not have a home owner’s insurance policy, check several sites. Consult consumer guides and also ask your trusted friends and acquaintance about the insurance companies they use. All these would help you know what to look out for when you get quotes from several insurance companies.