Finding a home insurance policy after just purchasing a home usually boils down to which premium is the least expensive. It's easy to feel completely tapped out after paying a hefty down payment plus closing costs. But homeowners who opt for minimum coverage may eventually find themselves losing a lot of money on what was supposed to be a long-term investment. Here are a few tips to ensure that homeowners enter an agreement with both eyes open.
For informational purposes only. Always consult with a licensed real estate professional or insurance agent before proceeding with any real estate transaction.
Calculating the Premium
How much a person pays is relative to where they live, the condition of the home, their financial standing, and
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When someone decides to buy a home, they often get a crash course in many areas of personal finance, including credit. Understanding a credit score and how it affects a person's chances of being able to buy a home is vital. By learning early about what is required, buyers can increase their chances of checking off all the boxes for success and move into that new home.
When a buyer budgets for a home purchase, closing costs must be taken into consideration. Since closing costs are due in cash at the time of the purchase, it's imperative that the buyer have money for these fees on hand. Knowing what closing costs are, how much to expect to pay and when they're due helps home buyers to plan for a smooth home buying process.
A seller's market can be an intimidating place for buyers because it's unfortunately easy to be taken advantage of if they're not careful. Luckily, there are ways that buyers can help themselves get a better deal on their home without lowering their expectations.
After selling a home and buying a new home, it’s time to focus on moving. This is a big job that takes a lot of effort from everyone in the household in order to make sure everything is packed by the move date. In such hectic times, shortcuts and advice are always welcome, so here are some of the best tips homeowners should keep in mind while packing to move.
Buying a smaller home often means fewer expenses, less cleaning to do, less maintenance and lower property taxes. It's win in many ways. Still, moving from a bigger home to a smaller home does have a down side. Specifically, downsizing is time consuming and difficult. Many people must take months or even years to down size their home. These tips can help home buyers to downsize so they can fit into a smaller property before it becomes time to sell their home and move.
There are many different things that go into making up a real estate contract. One of those things is all of the "boilerplate" language that's standard in most all real estate contracts. This standard language includes different clauses that are used for both the buyers and the sellers. Every one of those clauses is generally important, but they might not all apply to every circumstance. Because of that, there are a number of different options for adjusting the clauses, taking them out, or adding in additional information that can be used for that particular transaction.
Purchasing a home is a detailed process involving multiple parties. Everyone is looking to protect their own interest, and there are multiple regulations in place to protect those involved. As one gets involved in the process, they will likely be exposed to real estate terminology like escrow, contingencies and title insurance. Borrowers will likely have to learn about loan to value and loan to income ratios, prepayment penalties and points.
Owning a Westshore home comes with a lot of joy, but also a lot of responsibility. One of the most responsible things a homeowner can do is protect their investment, and a home warranty is part of the way to do that. These warranties cover some of the issues and items that home insurance policies typically do not protect against, which can help a homeowner reduce their financial burden when something goes wrong. While these kinds of warranties will not cover everything that could be a problem for a homeowner, they are still good ways to have a higher level of peace of mind when owning a home.
Some Canadians dream of owning a vacation home or buying a vacation condo. They can be used as a consistent location for family gatherings or to get away from the stresses of the world. Buying a vacation home may be easier than first imagined, when current homeowners understand eligibility requirements and general expectations. How easy is it to qualify for a home mortgage loan for a vacation home in Canada?