Insurance – Blog | 皇冠体育app /blog Excellence in Real Estate Since 1965 Mon, 03 Mar 2025 21:23:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.6 Garage Door Repairs Improve Home Security /blog/garage-door-repairs-improve-home-security /blog/garage-door-repairs-improve-home-security#respond Sat, 01 Mar 2025 23:12:29 +0000 /blog/?p=6714 When talking about home safety, homeowners often forget to assess one essential element: the garage door. This important part of the house acts as a useful entrance and protective barrier. Keeping your garage door in a suitable condition, including making timely repairs, is not only a matter of convenience but necessary to protect your house … Continue reading Garage Door Repairs Improve Home Security

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Garage door repairs improve home security and the aesthetic of the home.

When talking about home safety, homeowners often forget to assess one essential element: the garage door. This important part of the house acts as a useful entrance and protective barrier. Keeping your garage door in a suitable condition, including making timely repairs, is not only a matter of convenience but necessary to protect your house and loved ones.

In this article, we will explore how garage door repair can increase home security and why investing in professional services is important.

Why Should You Prioritize the Security of Your Garage Door?

Because the garage door is often the largest entryway into your home, it is a prime target for intruders. A garage door that is weak or damaged can leave your home vulnerable, potentially endangering your family and possessions. Therefore, it is essential to prioritize the security of your garage door for:

  • Protecting Valuable Belongings: Many people keep high-value vehicles, tools, and products in the garage. A faulty garage door puts these items at risk of being stolen or damaged, potentially resulting in significant financial losses.
  • Preventing Unauthorized Access: The garage is often the second entrance to the home. A secure garage door makes it more difficult for intruders to access your home.
  • Ensuring Peace of Mind: Knowing that your garage door is safely secured can help you sleep at night and focus on other security aspects of the home.
  • Maintaining Home Energy Efficiency: Although not related to safety, a garage door that works and seals appropriately will help improve insulation. A more stable indoor temperature can save energy and enhance indoor comfort.

What Are Minor Door Issues That Can Pose a Threat to Security?

While some garage door problems may seem insignificant, they can compromise your safety over time. Here are some common problems:

  • Damaged Panels

Cracked or broken panels weaken the overall structure of your garage door. These can be exploited by burglars to gain entry or can lead to further damage under pressure.

  • Malfunctioning Openers

A faulty garage door opener may leave the door partially or fully open, creating an opportunity for unauthorized access.

  • Worn-out Weather Stripping

Deteriorated weather stripping can cause gaps, reducing both safety and insulation. It may also allow minor intrusions, such as pests or water, to enter the garage.

  • Broken Springs

Garage door springs support the weight of the door. When broken, they make the door harder to operate.

How Can I Improve My Home Security Through Garage Door Repairs?

  • Invest In & Install a High-Security Lock

A high-security lock adds an extra layer of protection, making it more difficult for intruders to tamper with the door.

  • Use Motion-Sensor Lights

Installing motion-sensor lights around your garage can deter intruders by illuminating the area when movement is detected.

  • Upgrade to a Stronger Garage Door

Replacing an old, flimsy door with a robust, modern model can significantly enhance security. Look for doors made of steel or reinforced aluminium for added strength.

The Importance of Garage Door Security: Protecting Your Home Inside Out

  • Protect Your Investment

Your garage door protects expensive belongings such as vehicles, tools, and outdoor equipment.

  • External Threats

A secure garage door prevents outside threats like theft and vandalism from affecting your home.

  • Property Value and Curb Appeal

A well-maintained and secure garage door boosts a property’s curb appeal and overall value.

  • Internal Vulnerabilities

Intruders who gain access through your garage can easily enter your home, risking your personal safety and property.

  • Peace of Mind

Knowing that your home is fortified against potential threats helps you and your family feel safe.

The Benefits of Garage Door Repair for Improving Home Security

  • Preventing Costly Breakdowns

Over time, solve small problems before they lead to a high-cost problem.

  • Improves Safety Features

Modern garage gates have safety sensors and automatic lock systems. Repairs ensure that these features work correctly.

  • Protecting Valuable Items

A secure garage door helps your valuables to be safe from theft or damage.

  • Increases House Value

A visually appealing garage door that works well will add charm and value to your home.

  • Strengthening the Entry Point

Reinforcing the garage door prevents it from being an easy target for intruders.

  • Eliminates Remote Control Problems

Repairing or replacing malfunctioning remotes ensures that only authorized users can access the garage.

  • Covering Overall Home Safety

Safe garage doors help prevent accidents and unauthorized entry.

  • Prevent Unauthorized Access

Repairing gaps, broken locks, or malfunctioning openers ensure your garage remains secure.

  • Enhancing Automatic Security Features

Regular maintenance keeps modern security features such as the motion sensor and auto-reverse system operational.

  • Helps You Save Money

The investment in repair will hopefully help you avoid expensive spare parts and extend your garage door.

The Role of Professional Garage Door Services in Home Security Enhancement

Hiring a professional ensures that your safety is in the hands of an expert. This is how they help:

  • Compliance and Safety Standards

Professionals are up compliant with local safety requirements and standard code to ensure that your garage door is both functional and safe.

  • Quality Workmanship

Reputable garage door companies guarantee the repair and installation of high-quality doors.

  • Assessment and Consultation

Experts assess your garage door鈥檚 condition and suggest the best solutions to enhance safety and security.

  • Custom Solutions

Customized solutions can make sure your garage door meets your unique safety needs.

  • Warranty and Support

Professional repairs often come with long-term peace of mind and safety.

Final Words

Your garage door is more than just an aesthetic element of the home. It is one of the most important aspects of your overall security system. Regular maintenance and repair not only improve its efficiency but also minimize threats to your residence. Whether it is a little problem-solving or investing in advanced safety features, working with a trusted will help you feel comfortable and protect your home from the inside out.

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Triple Net Office Lease Agreements Explained: A Guide for Commercial Tenants /blog/triple-net-office-lease-agreements-explained-a-guide-for-commercial-tenants /blog/triple-net-office-lease-agreements-explained-a-guide-for-commercial-tenants#respond Wed, 25 Sep 2024 23:00:00 +0000 /blog/?p=6464 As you consider leasing commercial office space, you will likely encounter the term “triple net lease” or “NNN.” This type of agreement can markedly impact your business’s bottom line and operational responsibilities. While it may offer lower base rents, the additional costs and management duties can be substantial. Before you sign on the dotted line, … Continue reading Triple Net Office Lease Agreements Explained: A Guide for Commercial Tenants

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A property manager and tenant shaking hands in a vacant commercial space.

As you consider leasing commercial office space, you will likely encounter the term “triple net lease” or “NNN.” This type of agreement can markedly impact your business’s bottom line and operational responsibilities. While it may offer lower base rents, the additional costs and management duties can be substantial. Before you sign on the dotted line, it is essential to understand the intricacies of NNN leases, their potential benefits, and hidden pitfalls. Are you prepared to take on the role of property manager along with your business operations? The answer may not be as straightforward as you think.

Defining Triple Net Leases

Triple net leases, often abbreviated as NNN leases, are frequently encountered in commercial real estate transactions. In this type of agreement, you, as the tenant, are responsible for paying all property expenses in addition to your base rent. These expenses typically include property taxes, building insurance, and maintenance costs.

Unlike other lease structures, such as gross leases or modified gross leases, triple net leases shift most of the property-related financial responsibilities to you. To navigate these complex responsibilities effectively, many businesses are now using to ensure they fully understand their obligations and potential risks. This arrangement can offer lower base rent rates but requires careful budgeting and planning on your part. You will need to factor in these additional costs when considering the total expense of leasing the property.

It is important to note that the “net” in triple net refers to the three main categories of expenses you will cover: taxes, insurance, and maintenance. Some landlords may include other costs, such as property management fees or capital expenditures, so it is essential to review the lease terms carefully.

Components of NNN Agreements

Now that you understand the basics of triple net leases, let us break down the key components of NNN agreements. These leases typically include three main elements: property taxes, insurance, and maintenance costs. As the tenant, you will be responsible for paying these expenses in addition to your base rent.

Property taxes are a sizable portion of your NNN costs. You will need to budget for annual tax payments, which can fluctuate based on local assessments and rates.

Insurance costs cover the building’s property and liability insurance. You may also need to maintain your own business insurance separately.

Maintenance costs encompass a wide range of expenses, including common area upkeep, repairs, and building systems. This can include HVAC maintenance, landscaping, snow removal, and even major structural repairs.

It is essential to review the lease carefully to understand which maintenance items you are responsible for and which the landlord will handle.

Some NNN agreements may include additional components, such as utilities or property management fees. Always carefully review the lease terms to guarantee you fully understand your financial obligations and can accurately forecast your total occupancy costs.

Advantages for Tenants

Despite their seemingly complex nature, triple net leases offer several advantages for tenants. You will often find lower base rent rates compared to full-service leases, as landlords shift operational costs to you. This can lead to significant savings, especially in well-maintained buildings with efficient systems.

You will gain more control over your office space and its management. You can choose service providers and make decisions about maintenance schedules, potentially improving the quality of services you receive. This control extends to utility usage, allowing you to implement energy-saving measures and directly benefit from cost reductions.

Triple net leases typically offer longer terms, providing stability for your business. You will have the opportunity to establish yourself in a location without worrying about frequent moves or rent increases. Additionally, these leases often come with more flexible terms for modifications and improvements to the space.

You will also benefit from increased transparency in your occupancy costs. With itemized expenses, you can better understand and budget for your total occupancy expenses, helping you make informed financial decisions for your business.

Potential Drawbacks to Consider

While triple net leases offer benefits, you will need to ponder some potential drawbacks.

You are likely to face higher overall costs and unpredictable expense fluctuations, which can impact your budget planning.

Additionally, you will find that landlords have limited responsibilities, leaving you to manage most property-related issues on your own.

Higher Overall Costs

The sticker shock of triple net office lease agreements can catch tenants off guard. While the base rent may seem lower compared to full-service leases, you will need to factor in the additional costs of property taxes, insurance, and maintenance. These expenses can increase your overall financial commitment.

You will be responsible for your proportionate share of the building’s operating expenses, which can fluctuate year to year. This unpredictability makes budgeting more challenging and may lead to unexpected cost increases.

Additionally, you will need to allocate resources for property management and maintenance tasks that would typically be handled by the landlord in other lease types.

Consider the potential for costly repairs or upgrades to building systems. As a triple net tenant, you will be on the hook for your share of these expenses, which can be substantial. You may also face higher insurance premiums, as you will need to maintain thorough coverage for the leased space.

It is essential to carefully review all cost estimates and projections before signing a triple net lease. Negotiate caps on expense increases and clarify which costs are your responsibility to avoid surprises down the line.

Unpredictable Expense Fluctuations

Unpredictable expense fluctuations pose a considerable challenge for tenants in triple net office lease agreements. Unlike traditional leases where costs are fixed, triple net leases expose you to variable expenses that can change dramatically from year to year. Property taxes, insurance premiums, and maintenance costs can all increase unexpectedly, potentially straining your budget.

You will need to be prepared for sudden spikes in expenses, which can occur due to several factors. For instance, a reassessment of the property’s value could lead to higher property taxes, or a natural disaster in the area might cause insurance rates to soar. Major repairs or upgrades to the building’s systems can also result in substantial cost increases.

These fluctuations make it difficult to accurately forecast your occupancy costs, complicating your long-term financial planning. You might find yourself in a situation where you are paying more than anticipated, affecting your overall profitability.

To mitigate this risk, you should carefully review historical expense data, negotiate expense caps when possible, and maintain a financial cushion to absorb unexpected increases. It is also wise to consult with local real estate experts to gain insights into potential future cost trends in your area.

Limited Landlord Responsibilities

Limited landlord responsibilities in triple net office leases present several potential drawbacks you should consider. When you sign a triple net lease, you are fundamentally taking on most of the property management duties. This shift in responsibility can lead to unforeseen challenges and costs.

Here are four key drawbacks to keep in mind:

  1. Maintenance burden: You will be responsible for handling repairs, upgrades, and regular maintenance. This can be time-consuming and costly, especially for older buildings or those with complex systems.
  2. Increased liability: With more control comes greater liability. You may need additional insurance coverage to protect yourself from potential lawsuits related to property conditions or accidents.
  3. Hidden costs: Some landlords may try to pass on expenses that are not typically included in triple net leases, such as structural repairs or environmental remediation.
  4. Lack of landlord support: When issues arise, you cannot rely on the landlord for quick resolution. You will need to manage everything yourself or hire third-party services, which can be challenging if you are not experienced in property management.

Before signing a triple net lease, carefully consider these drawbacks and make sure you are prepared to manage the increased responsibilities and potential risks.

Negotiating NNN Lease Terms

When negotiating a triple net (NNN) office lease, you will need to focus on key areas that impact your financial obligations.

Start by carefully examining the base rent and any escalation clauses, as these form the foundation of your long-term costs.

You should also scrutinize the operating expense pass-throughs and clearly define maintenance and repair responsibilities to avoid unexpected financial burdens during the lease term.

Rent and Escalation Clauses

While negotiating a triple net office lease, rent and are critical components that deserve careful attention. These clauses determine your base rent and how it will increase over time. It is important to understand the structure and potential impact on your business’s finances.

When reviewing rent and escalation clauses, consider these key points:

  1. Base rent: Verify it is competitive with market rates and reflects the property’s condition and amenities.
  2. Escalation frequency: Negotiate how often rent increases occur, typically annually or every few years.
  3. Escalation method: Common methods include fixed percentage increases, Consumer Price Index (CPI) adjustments, or fair market value reassessments.
  4. Caps and floors: Try to include a cap on annual increases to protect against steep hikes and be wary of minimum increase clauses.

You will want to analyze how these factors align with your business’s growth projections and cash flow.

Do not hesitate to negotiate terms that work for both you and the landlord. Remember, a well-structured rent and escalation clause can provide predictability and help you budget effectively for the lease term.

Operating Expenses Pass-Throughs

Operating expenses pass-throughs are an essential aspect of negotiating triple net lease terms. In a triple net lease, you will be responsible for paying your share of the building’s operating expenses. These typically include property taxes, insurance, maintenance, and common area costs.

It is important to understand and negotiate these pass-throughs to avoid unexpected financial burdens. When reviewing the lease, pay close attention to the list of includable expenses. Negotiate to exclude or cap certain costs, such as capital improvements or management fees.

You should also request a detailed breakdown of expenses and the right to audit the landlord’s records. This transparency will help you verify that you are only paying your fair share.

Consider negotiating a base year for expenses, after which you will only pay for increases above that level. You can also push for an expense stop, which limits your liability to a specific dollar amount per square foot.

Do not forget to discuss how expenses will be allocated among tenants, especially if you are leasing only a portion of the building. Finally, try to secure a gross-up provision for variable expenses to make sure you are not overpaying during periods of low occupancy.

Maintenance and Repair Responsibilities

Throughout your triple net lease negotiations, maintenance and repair responsibilities should be a top priority. These terms can greatly impact your operational costs and the overall condition of your leased space. It is essential to clearly define which party is responsible for various maintenance and repair tasks.

When negotiating maintenance and repair responsibilities, consider the following key points:

  1. Structural elements: Clarify who is responsible for maintaining and repairing the building’s structural components, such as the roof, foundation, and exterior walls.
  2. HVAC systems: Determine whether you will be responsible for routine maintenance, repairs, or replacements of heating, ventilation, and air conditioning systems.
  3. Common areas: Establish how maintenance and repairs of shared spaces, like lobbies, elevators, and parking lots, will be managed and funded.
  4. Tenant improvements: Define your rights and obligations regarding alterations, improvements, and repairs within your leased space.

Be sure to negotiate caps on your repair and maintenance costs, especially for big-ticket items.

You will also want to establish a clear process for requesting and approving repairs, including response times for urgent issues.

Do not forget to address end-of-lease conditions and any requirements for restoring the space to its original state.

Budgeting for Triple Net Expenses

Three key aspects are essential when budgeting for triple net expenses in office lease agreements.

First, you will need to gather historical data on the property’s operating costs. Request detailed records from the landlord or property manager, covering at least the past three years. This information will help you estimate future expenses more accurately.

Second, factor in potential cost increases. Utility rates, property taxes, and insurance premiums tend to rise over time. Build in a buffer of 3-5% annually to account for these potential hikes. Do not forget to consider any planned renovations or major repairs that might affect operating costs.

Lastly, create a thorough budget spreadsheet. Break down expenses into categories like utilities, maintenance, property taxes, and insurance. Include both fixed and variable costs and update your projections regularly.

You will want to track actual expenses against your budget throughout the lease term.

Alternatives to NNN Leases

While triple net leases are common in commercial real estate, they are not the only option available to tenants. You might want to think about alternative lease structures that could better suit your business needs and financial situation.

Here are four alternatives to NNN leases:

  1. Gross Lease: You will pay a flat monthly rent that covers all property expenses. The landlord assumes responsibility for taxes, insurance, and maintenance costs.
  2. Modified Gross Lease: This hybrid option splits expenses between you and the landlord. You will typically pay rent plus some operating costs, while the landlord covers others.
  3. Percentage Lease: Common in retail spaces, you will pay a base rent plus a percentage of your gross sales. This can be beneficial if your business has fluctuating income.
  4. Double Net (NN) Lease: You will be responsible for property taxes and insurance, while the landlord covers maintenance and repairs.

Each lease type has its pros and cons, so it is important to understand how they will impact your bottom line.

Reflect on factors like your budget, risk tolerance, and operational preferences when choosing an alternative to a triple net lease.

Do not hesitate to negotiate terms with your landlord to find a mutually beneficial arrangement.

Conclusion

You have now got a solid grasp of triple net office lease agreements. They are complex but can offer benefits if you are willing to take on more responsibility. Remember, careful negotiation and thorough budgeting are key to making NNN leases work for you. As you consider your options, weigh the pros and cons against your business needs. With this knowledge, you are better equipped to make an informed decision about your commercial lease arrangement.

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The Hidden Costs of Homeownership: Maintenance, Taxes, and More /blog/the-hidden-costs-of-homeownership-maintenance-taxes-and-more /blog/the-hidden-costs-of-homeownership-maintenance-taxes-and-more#respond Mon, 19 Aug 2024 18:44:33 +0000 /blog/?p=6405 Homeownership comes with more responsibility than living with your parents or renting from a landlord. However, most Americans look forward to buying their own home, one of the largest single purchases that they make in their lives. In terms of financial responsibilities, many soon-to-be homeowners primarily focus on saving up for a down payment and … Continue reading The Hidden Costs of Homeownership: Maintenance, Taxes, and More

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A house and a calculator as a symbol of the costs of homeownership.

Homeownership comes with more responsibility than living with your parents or renting from a landlord. However, most Americans look forward to buying their own home, one of the largest single purchases that they make in their lives.

In terms of financial responsibilities, many soon-to-be homeowners primarily focus on saving up for a down payment and monthly mortgage payments. Among the most overlooked financial considerations, particularly among first-time home buyers, are hidden costs.

Property Taxes

Property taxes are imposed by local governments and are a reality for homeowners in all states. Owners have property tax obligations for primary homes, rental properties, vacation homes, timeshares, and commercial properties.

Cities or counties may use property taxes as a principal source of revenue to fund fire and police departments, local public-school systems, roads and bridges, water systems, and libraries. Property tax rates vary between local jurisdictions, and the amount that an individual property owner pays is usually based on the assessed value of the home.

The following table shows the paid in various states in 2023.

StateEffective RateAverage Tax
Arkansas0.54 %$1,296
Louisiana0.62 %$1,418
New Mexico0.62 %$2,190
Oklahoma0.90 %$1,884
Texas1.20 %$4,464
Data provided by BankRate.com

Homeowner鈥檚 Insurance

Property owners maintain homeowner鈥檚 insurance to compensate for property damage resulting from a fire, to replace items resulting from theft or liability, and medical expenses if someone is injured on your property.

Homeowner鈥檚 insurance rates tend to increase over time and have significantly increased in recent years due to inflating material and labor costs. The is currently $2,728 per year.

 Keep in mind that standard homeowner鈥檚 insurance policies will contain some exclusions. For example, additional insurance coverage for earthquakes, floods, or termite damage may be required.

Private Mortgage Insurance (PMI)

Buyers who finance a home using a conventional mortgage loan must typically maintain (PMI) unless they have a 20% down payment. PMI provides coverage for the lender in case the borrower defaults on the mortgage loans.

The cost of PMI often ranges from 0.5% to 2% of your loan balance per year. Federal data reported by Freddie Mac explains that monthly PMI prices range from $30 to $70 a month for every $100,000 financed; thus, those with a $400,000 mortgage balance should expect to pay $120 to $280 per month.

While PMI applies to conventional home loans, those with a Federal Housing Administration (FHA) insured mortgage will pay for similar coverage known as mortgage insurance premium (MIP).

Homeowners Association Fees (HOA)

Private organizations known as homeowner鈥檚 associations are formed to govern specific neighborhoods of single-family homes and condominium communities that enforce rules and maintain responsibility for certain services. Those buying a property in these communities must pay (HOA).

HOAs often pay for snow removal, security, lawn care, or maintenance for community swimming pools. A recent U.S. Census indicated that the national average monthly HOA due was approximately $191, roughly $2,300 yearly.

Home Maintenance and Repairs

Roof

Damage to your home鈥檚 roof can be a major expense. Roofs may need replacement every 20 to 30 years. While minor roof repairs might cost only $500, the average roof replacement project costs nearly $8,700.

Heating, Cooling and Ventilation Systems (HVAC)

Your home鈥檚 HVAC system keeps you warm in the winter and cool in the summer. Most experts suggest having a technician visit your home for basic inspection and maintenance every year. Replacing significant components of an HVAC system may get expensive, as a new air conditioning unit can easily exceed $5,000.

Electrical and Plumbing Systems

If indications of an electrical system problem occur, promptly having help from a licensed electrician is critical, as faulty wiring, shorts, or similar concerns could trigger a fire. Further, the electrical system should comply with the latest codes and standards.

Plumbing problems might range from minor clogged drains to more significant concerns, such as wastewater backups that might create costly water damage. According to , the hourly labor cost for electricians ranges from $50 to $130 and approximately $45 to $150 for plumbers.

Pest Control

Homeowners should quickly respond to minor problems with household pests such as ants, rodents, cockroaches, bed bugs, or termites. What begins as a nuisance may rapidly escalate into a substantial infestation that requires treatment from a pest control professional.

Exterior Property Maintenance

The property area outside your home will also require ongoing maintenance expenses and less frequent larger concerns.

Ongoing Costs

The exterior of your home, including the lawn and garden area, may need regular care and maintenance. Some of the most common maintenance tasks include pressure washing the exterior fa莽ade, cleaning the gutters, mowing the lawn, and removing leaves or snow. Many homeowners invest in the tools, supplies, and equipment needed to minimize costs by performing these regular maintenance tasks themselves.

Repair or Replacement Projects

There are some costly exterior repair or replacement projects, which (fortunately) are infrequent. For example, repainting your home鈥檚 exterior, replacing siding, or repaving the driveway can all cost thousands of dollars.

Possible Junk Fees

The Consumer Financial Protection Bureau (CFPB), a government agency, recently began of 鈥渏unk fees鈥 driving up closing cost expenses in the home mortgage loan process. Closing costs include appraisal fees, title insurance, and attorney fees that are paid as part of the finalizing or 鈥渃losing鈥 of a mortgage loan.

A report suggests that between 2021 and 2023, total mortgage costs rose by approximately 36%. Traditionally, closing costs equate to roughly 2 to 6% of the amount borrowed. The CFPB is seeking to determine the reasons for the recent surge in fees and hopes to minimize any anticompetitive fees.

Homeownership Costs Vary by Location

While homeownership鈥檚 鈥渉idden鈥 costs typically average approximately $15,000 per year, they vary based on location. For example, you should expect to pay more in large metropolitan areas. The top five most expensive U.S. cities have the following amount of hidden costs:

  • The California 鈥淏ay Area鈥 (San Francisco, Oakland, and San Jose): $22,791
  • New York City: $22,776
  • Los Angeles: $22,347
  • The Seattle / Tacoma region: $20,915
  • Boston: $20,897

Paying for Costs

While homeowners may cover minor household expenses with money in savings or short-term borrowing using credit cards, some major projects might require longer-term financing. In these situations, you might speak with a financial institution regarding a, home improvement loan, or other options.

Understanding the Total Costs of Homeownership

One of the most essential is accurately calculating the total ownership costs. Some of the best financial practices for new homeowners to adopt include carefully reviewing the fees contained in the mortgage loan agreement, performing preventative maintenance, and having some money saved for the inevitable costs of repairs and replacement.

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Understanding the Effect of Flood Risk on Residential Property Values /blog/understanding-the-effect-of-flood-risk-on-residential-property-values /blog/understanding-the-effect-of-flood-risk-on-residential-property-values#respond Wed, 05 Jun 2024 18:55:12 +0000 /blog/?p=6297 Natural disasters are erratic and unplanned events that can have a drastic effect on your property – and by extension, what it is worth. In recent years, we have seen much more extreme weather events taking place, and it is taking a toll on infrastructure as a whole. As homeowners, this means we have to … Continue reading Understanding the Effect of Flood Risk on Residential Property Values

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A small wooden house charm sitting in a puddle of water, symbolizing flood risk.

Natural disasters are erratic and unplanned events that can have a drastic effect on your property – and by extension, what it is worth.

In recent years, we have seen much more extreme weather events taking place, and it is taking a toll on infrastructure as a whole. As homeowners, this means we have to put effort into protecting our homes from taking on exponential damage due to the weather.

Prevention is better than cure, and in this article, we explore the risks floods pose to your property and ways to mitigate damage from happening and to help prevent the residential value of your property from decreasing.

The importance of property value

When you are looking for homes, you naturally check the. If the value is low, it is usually considered to be a red flag. This poses the question as to why it is so low. This is where research comes in – socio-economic factors and natural disaster risks may be the reason why.

If the area is prone to flooding and undertakes a lot of damage due to stagnating water, many people would not find it a desirable place to live, bringing down the value of the property.

This in turn can affect the resale value of your home in the event you want to move in the future.

How natural disasters affect property value

Living in a disaster-prone zone does not readily mean that your home loses its value. This coupled with unpreparedness to handle the damage of a natural disaster is what actually devalues your home.

Due to the nature of events like flooding, storms, or hurricanes, it can cause irreparable damage to your property which will result in the value of your home decreasing further.

To better understand whether or not your home is in an area that is susceptible to flooding, you can either look at a flood zone map or acquire the services of a tool that alerts you to the potential risks of the area where you live. 

For example, if you live in an area like Cuyahoga, Ohio, which , flooding is a concern as the area is prone to incidents like hurricanes and storms – having suffered seven severe storms since the early 2000s.

Understanding the Flood Risk

Flood risk is the amount of damage undertaken due to floods, especially if not adequately prepared for them. According to a report by CBC, in less than 80 years 325,000 inland Canadians will be living in . This jump in numbers means that we will be looking at damages on a larger scale. This begs the question, why is this happening?

Climate Change

With climate change causing changes in the Earth’s atmosphere, a lot of changes are taking place. We see an increase in sea levels, and the weather is becoming more erratic. There are instances of winter weather occurring in late spring, and summer weather occurring in late autumn. There are also more storms, heatwaves, and extreme weather conditions taking place. Naturally, this also means that there is an increase in localized flooding, especially in areas that are closer to large bodies of water.

Natural floods

Floods can occur for several reasons. If you live near large bodies of water or at rivers, there may be erosion of riverbanks. This, in addition to increasing sea levels, means that when you experience severe rains, these bodies of water will overflow. Aged storm and drainage systems in your neighborhood can back up and cause flooding to occur.

Property damages caused by floods

Some of the damages that your property can experience due to flooding include the foundation of your house becoming compromised, damaged plumbing, and damaged electrical and gas connections.

Due to the majority of homes being created with wood, water stagnation can end up compromising the wood鈥檚 integrity and cause it to disintegrate or rot.

Mold is another concern, as prolonged exposure can cause the inhabitants of the house to fall sick.

In addition to this, when the rains and flooding are occurring, the sheer volume and pressure of water can break through windows and doors.

Apart from structural damage, the belongings inside your home are also at risk of being damaged or getting lost in the water.

Unnatural floods

It is important to note that flood damage is not only limited to natural occurrences. Accidents can occur at home too. In certain instances, you will find damaged pipes cause homes to flood inside. Sometimes accidents can occur with your washing machine or dishwasher, causing water to overflow and stagnate in your home. While this is uncommon, you need to be aware that it can also comprise household structure.

Ways to mitigate flood damage

The first step to prepare against flood damage would be to check if you are in a flood zone or near large bodies of water. This way you can begin preparations to floodproof your home.

Even if you do not live in these types of areas, it would be a good idea to prepare ahead due to climate change and the unforeseen weather conditions it may bring.

One way to start floodproofing your home would be to conduct renovations in your home using materials created to aid in floodproofing homes. Attend to any cracks in the foundation and seal it off. If you are able, elevate the foundation of your home.

Consider using flood barriers as well. Inside your home, move the electrical outlets higher, especially if they are lower to the ground.

If you live in an area that is prone to flash floods, look at insurance options that provide coverage for natural disasters. This will help mitigate any costs for repairs and prevent financial hardships.

What to do in a flood warning

In the event of a flood or potential flood, your local channels and news stations will provide a warning. There are also apps that alert you when an incident like this is set to take place.

If would be handy to have an emergency bag with necessities in it kept in your car or near the entrance of your home. It needs to be easy to access in the event of an evacuation. Keep a change of clothes, a first aid kit, and important identification documents on hand and easy to access.

Switch off the main electrical unit and ensure that all windows and doors are shut. Move essential items to higher areas in your home. If appliances are not affected by the water, and you are not standing in water, unplug them to prevent outages.

Be careful when driving or walking in water especially if it is not stagnant – it can be easy to fall over or be swept away.

The bottom line

Living in a flood zone is becoming more of an occurrence, especially due to climate change. With floods comes the risk of property damage, and the likeness of your residential property value decreasing as a result of the risk. In order to protect your home and its value, it is important to discern whether your home is in a flood zone and implement ways to prevent extensive damage from occurring.

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Top Tips to Protect Your Home from Severe Weather Damage /blog/top-tips-to-protect-your-home-from-severe-weather-damage /blog/top-tips-to-protect-your-home-from-severe-weather-damage#respond Thu, 01 Feb 2024 22:29:50 +0000 /blog/?p=6174 Buying your dream home is a significant accomplishment, and you need to protect your investment. While there is no way you can control severe weather, you can do many things to prevent possible damage to your home and protect your family. Here are tips you should remember when gearing up your home for an upcoming … Continue reading Top Tips to Protect Your Home from Severe Weather Damage

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A roof with rain gutters during a severe weather event.

Buying your dream home is a significant accomplishment, and you need to protect your investment. While there is no way you can control severe weather, you can do many things to prevent possible damage to your home and protect your family.

Here are tips you should remember when gearing up your home for an upcoming weather event.

Remedy Any Structural Issues

Inspect your home and resolve issues like peeling roof shingles, loose fence boards, and rattling windows to prevent costly damage. Dealing with damages head-on can save you from expensive repairs after damage from severe weather events. For instance, if a shingle is damaged, it will likely get loose during a storm. If it is missing, reinstall or replace it immediately.

Maintain and Clean Your Yard

Keep an eye on potential hazards surrounding your home. Here is how you can implement basic outdoor maintenance before a weather condition.

  • Clean your gutters: Get rid of gutter debris to ensure water can flow properly into drains. Consider adding gutter guards if you have more time, which can keep your gutters debris-free in the first place.
  • Unclog downspouts: Free your downspouts from congestion to avoid water damage. Remove debris at the openings, check for any blockages in the outlets, and rinse with water using a hose.
  • Trim tree branches: These are among the common causes of roof damage. Inspect for any long branches hanging over your roof. Remove old or diseased trees that can fall on your property.
  • Secure your outdoor furniture: Store outdoor decorations, sports equipment, and other tools left outside to prevent them from damage. If you are unable to put them indoors, tie them together as securely as possible.

Invest in a Backup Generator

A spare power source can keep your essential appliances and lights on, especially in brutal weather conditions. In some cases, intense storms can cut power sources for more than a day.  On average, United States customers of electric power interruptions in 2021.

A backup generator delivers power instantly during a blackout, maintaining safety and comfort during emergencies. It also protects the home from voltage surges and fluctuations when power is back. This equipment is especially useful during winter storms, as you want to to prevent property damage like frozen pipes and ensure your family is safe.

If you anticipate harsh weather, consider investing in a backup generator to keep your power on in the event your local grid goes down.

Review Your Insurance Policy

Extreme weather conditions remain a common reason behind property damage in the U.S., with between 2017 and 2021. You should ensure your insurance policy covers the losses you may incur after a natural disaster.

Damages caused by earthquakes, flooding, and hurricanes , so you may need to invest in additional insurance, especially if you live in an area prone to natural disasters. Create a list of your belongings as documentation for the insurance company and keep it somewhere safe and dry.

Inspect Your Roof

An extensive roof inspection before an anticipated severe weather event can protect your home, especially thunderstorms, when can easily remove roofing tiles.

If you have a roof that is five or more years old, look for loose nails and shingles and replace them. A visual inspection from the ground can be beneficial for spotting small issues, but you may want to have a professional come out to do a more thorough inspection. This way, you can learn of any notable concerns and manage them as necessary.

Prepare Your Doors and Windows

Pay extra attention to your home鈥檚 doors and windows to maximize protection against brutal storms. Here are some things you can do:

  • Seal all entryways: Prevent water and wind from entering through house doors, garage doors and windows by sealing their openings with weatherproofing materials. Aside from helping keep your home undamaged during severe weather, sealing all entry points in your home can reduce your energy bills.
  • Install storm shutters: If your home is near the coast, installing storm shutters is a must to protect your home鈥檚 windows from harsh winds and flying debris. Fix and update your storm shutters as necessary to ensure they serve their purpose.
  • Apply plywood: You can put plywood on the exterior of doors and windows to protect glass and minimize damage when wind is a concern. This temporary measure can help in a pinch in anticipation of severe weather.

Protect Your Home with These Preparation Techniques

Whether you are anticipating a severe rainstorm or a possible hurricane, you can combat the effects of natural disasters on your home in many ways. Start with these preventive measures to protect your home and your family, and you will be ready for all types of weather.

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Prepping Your Roof for Summer Storms in the South /blog/prepping-your-roof-for-summer-storms-in-the-south /blog/prepping-your-roof-for-summer-storms-in-the-south#respond Fri, 25 Aug 2023 22:25:45 +0000 /blog/?p=5971 Is your roof ready for summertime storms? Summers in the South can bring an onslaught of severe weather, so it is always a good idea to be prepared. Once summer is in full swing, you can expect thunderstorms, strong winds, and torrential downpours that can wreak havoc on your roof. The good news is that … Continue reading Prepping Your Roof for Summer Storms in the South

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A roof with rain pouring off into the gutters.

Is your roof ready for summertime storms? Summers in the South can bring an onslaught of severe weather, so it is always a good idea to be prepared. Once summer is in full swing, you can expect thunderstorms, strong winds, and torrential downpours that can wreak havoc on your roof.

The good news is that you can keep your home and family safe and comfortable by utilizing the tasks in this roof maintenance checklist, which includes tips for cleaning your gutters and info on which repairs to focus on to prevent a leaky roof.

Before we dive into the roof maintenance checklist, you should know that hiring a professional roofer is the best way to prep your roof for summertime in the South; a professional has the proper tools and experience to do the job safely and efficiently.

So, if you are ready to defend your roof against whatever weather comes your way, be proactive and use this checklist!

Schedule a Roof Inspection

When was the last time you had your roof inspected? If it has been a while, schedule a professional inspection with a reputable roofer before the stormy season starts. An inspection is an essential part of any roof maintenance plan. A roofing pro can thoroughly examine and spot any problems on the roof before they become major issues. Common problems include damaged, cracked, or missing shingles that, if not addressed, can lead to a leaky roof and costly water damage.

Though not as thorough as having a professional get up on the roof, you can do an inspection yourself. Try walking around your property after a heavy storm and look for shingle bits or granules on the grass or around the base of the downspouts. If you notice damaged shingles, it is a sign that you need to repair the roof sooner rather than later.

Trim the Trees Around Your Home and Roof

Tree limbs and small branches can cause big problems during a storm. Trim the trees near your home and roof so you will not have to worry about a tree branch or limb falling on your roof when a storm hits. Large branches and dead limbs can cause severe damage if they break off and land on your roof. They can even lift the shingles and allow rain to get underneath them.

Excess leaves can also lead to problems, especially during a storm. Excess leaves can clog gutters, gutter guards, and downspouts. Rake up as many leaves as you can before the storm and pick up any debris that might make its way onto the roof.

Hire a landscape professional to trim the trees around your property annually. Doing this will keep branches away from your roof and benefit the tree鈥檚 health too!

Look for Weak or Diseased Trees

When trees are weak or diseased, heavy winds can uproot them and direct them toward your home. Look for signs of leaning trees, which often means they have a weak root system. Trees get stressed too. Dead limbs, missing bark, withered branches, and deformed leaves are symptoms of a stressed tree.

Weak trees are no match for heavy winds, and hurricanes and tropical storms are constantly brewing here in the South. A landscape professional can tell you if your trees are unhealthy. If they are, removing them before the storm season starts is a good idea.

Clean Your Gutters and Downspouts

It is not uncommon for summer storms to soak the South; when they hit, they hit hard. And one of the worst issues for any roof is an accumulation or backup of water. A buildup of soaked leaves and other debris can clog gutters and cause a pool of water to settle inside the gutter. Blocked gutters and downspouts can lead to severe problems, including leaks. That is why it is so essential to keep them clean. 

Cleaning your gutters and gutter guards is one step; another is looking for weak or loose fasteners. Soaked leaves and other debris can make the gutters heavy, causing them to break free from the roof. And if you have uneven or dented gutters, it can be difficult for water to make its way down the downspouts. If it looks like your gutters and downspouts are beyond repair, contact a professional to replace them as soon as possible.

Replace an Old or Damaged Roof

If you are thinking about a , it is wise to do it before the storm season begins. An old or damaged roof spells danger to your home during severe storm conditions. Keep your family safe and comfortable, no matter how crazy the weather gets outside.

It is important to consider longevity versus affordability when choosing roofing materials. Some, like asphalt shingles, can be more affordable but might only make it 12 years before needing to be replaced. Metal roofs, while maybe more expensive to install, are visually appealing and have a lifespan of 70-plus years.

More Tips You Can Use During the Storm Season

Here are some other things to consider before the storm season arrives:

  • Purchase tarps: If a storm damages your roof, you can add a tarp to prevent further damage. A properly secured tarp can prevent missing shingles or holes from turning into costly leaks. Stock up on tarps before they sell out at your local home improvement store. (If you have ever tried shopping for tarps after a storm, you know how hard they are to find.) 
  • Hire an experienced and reputable roofing company: Working with the right company is essential when replacing your roof, getting repairs, or scheduling an inspection. The last thing you want to worry about is an inexperienced crew that does not show up on time or, even worse, does not have the tools or know-how to provide a professional assessment of the condition of your roof.

Heavy rains are just a part of living in the South. Do not get caught unprepared 鈥 follow our roof maintenance checklist. Regularly maintaining your roof and cleaning your gutters will help prolong the life of your roof, even during storm season.


About the Author: Shannon McCord is a licensed home builder and has completed over 1000 roofing projects, with over 25 years of building experience. Prior to starting Roofing World, Shannon was a community housing developer. Shannon is a graduate of the University of Alabama at Birmingham with a degree in Engineering and Marketing.

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Smart Homes and Flood Monitoring: Enhancing Safety and Real Estate Value /blog/smart-homes-and-flood-monitoring-enhancing-safety-and-real-estate-value /blog/smart-homes-and-flood-monitoring-enhancing-safety-and-real-estate-value#respond Mon, 14 Aug 2023 16:22:00 +0000 /blog/?p=5958 As a current or future homeowner, protecting your property from potential flood threats is essential for your peace of mind and financial stability. Early detection and planning are the secrets to ensuring that your home is secure from water damage. Flood monitoring plays a vital role in getting and acting on this initial warning and … Continue reading Smart Homes and Flood Monitoring: Enhancing Safety and Real Estate Value

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A couple reviewing the remote-control for their smart home technology.

As a current or future homeowner, protecting your property from potential flood threats is essential for your peace of mind and financial stability. Early detection and planning are the secrets to ensuring that your home is secure from water damage.

plays a vital role in getting and acting on this initial warning and embracing smart technology for this endeavor can be a significant game-changer.

This article will explore the benefits of using advanced technology in flood monitoring. It will also provide ways how you can incorporate this innovation into your home to enhance safety and explain how the integration of a smart flood monitoring system can increase your property’s real estate value.

Benefits of Using Smart Technology for Flood Monitoring

Incorporating smart flood monitoring systems into your home not only ensures prompt detection and response to flooding events but also contributes to a more comprehensive and interconnected smart home experience.

These gadgets utilize advanced technologies to provide you with real-time insights and proactive protection against potential flood events.

What is more, these systems typically consist of various sensors placed in vulnerable areas around the property. Such a setup allows the sensors to detect water levels, leaks, and other indicators of flooding 鈥 thereby enabling immediate response and mitigation.

Integrating smart flood monitoring systems into your home offer a range of benefits that enhance safety and convenience such as:

Real-time monitoring and alerts: You can receive instant notifications on your smartphone or smart home hub when the sensors detect any signs of water intrusion, so you can take immediate action and prevent significant flood damage.

Remote access and control: Activate or deactivate flood monitoring devices from anywhere, providing you with additional protection even when you are away from home.

Integration with other smart home devices: Smart flood monitoring systems can communicate with other smart devices, such as smart thermostats or smart lighting, to trigger automated responses during flood alerts.

Data collection and analysis: Continuously gather data on water levels and other environmental factors. This allows you to get valuable insights into potential flood patterns and risks.

Enhancing Home Safety with Smart Flood Monitoring

A smart flood monitoring system can be your ultimate ally in enhancing home safety and protecting your property from damage. These advanced technologies offer real-time insights and proactive solutions to keep your home safe even during unforeseen flooding events. To maximize the capabilities of your smart flood monitoring system, consider the following steps:

Strategically place the sensors

Proper placement of flood monitoring sensors is crucial for comprehensive coverage. Strategically position the detectors in vulnerable areas, such as basements, crawl spaces, near water sources, and around appliances prone to leaks to ensure that the system can effectively monitor these places.

Integrate the system with your smart devices and home systems

Create a seamless smart home ecosystem by integrating the smart flood monitoring system with your other smart devices. Doing so allows for better coordination and automation when responding to flood alerts.

You can also integrate this technology with other smart home structures, such as your HVAC system, to improve their efficiency during floods or other water-related issues. Consider seeking the help of professionals who use in designing HVAC and other comfort systems to ensure that they work harmoniously with your smart flood monitoring system.

Enable automated alerts and notifications

Ensure that you have set up automated alerts and notifications to receive instant messages on your smartphone or smart home hub when the smart flood monitoring system detects any water-related issues. These timely alerts enable you to act fast and prevent further damage.

Take advantage of the remote-control feature

The remote-control feature of the smart flood monitoring system allows you to access and manage flood mitigation devices from anywhere. It also enables you to activate or deactivate pumps, valves, or barriers as needed even when you are away from home.

It also allows you to perform regular checks on the smart flood monitoring system to ensure it is functioning correctly. This proactive approach helps identify any system issues early on and maintain the system’s reliability.

Maximize gathered data to form preventive measures

Analyzing the data that your smart flood monitoring system gathered allows you to identify potential flood patterns or areas of concern. Use these insights to implement preventive measures and fortify your home against flooding risks.

This historical data also enables you to adjust the system’s settings to ensure optimal performance and provide more focused coverage and protection in vulnerable locations.

How Smart Flood Monitoring Boosts Real Estate Value

The benefits of integrating a smart flood monitoring system extend beyond safety. Not only does this innovative home-protecting solution help you from dealing with significant water damage but it can also elevate its real estate value, transforming it into a desirable, forward-thinking investment.

That’s because smart home features like a flood monitoring system have become increasingly sought after in the real estate market, and homebuyers today value properties that offer modern technologies and automation for enhanced living experiences.

Integrating this innovative home safety solution can even pique the interest of the most eco-conscious homebuyer. A smart flood monitoring system aligns with sustainability values as it helps reduce water waste and prevents unnecessary water damage.

By quickly detecting and addressing potential flood events, homeowners can significantly minimize water wastage and conserve this precious resource, which appeals to environmentally conscious buyers.

Another enticing aspect of having a smart flood monitoring system is that it can help with reducing insurance premiums and expediting claims processes.

A property equipped with a smart flood monitoring system demonstrates a proactive approach to minimizing water damage risks. As a result, insurance providers may offer reduced premiums to homeowners with such systems in place.

Moreover, the system’s real-time monitoring and historical data records can serve as evidence to support insurance claims. Insurance adjusters can use this information to validate the extent of the damage, resulting in faster compensation for homeowners.

Conclusion

Smart flood monitoring technology emerges as a vital asset if you are looking to enhance the safety and real estate value of your property.

With its capacity to deliver real-time alerts, provide you with remote access, integrate with other smart devices, and collect data for analysis, integrating this technology can proactively protect your home from potential flood risks while making it more enticing for future homebuyers when you sell it.

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Shopping for a Home Warranty /blog/shopping-for-a-home-warranty /blog/shopping-for-a-home-warranty#respond Fri, 27 Jan 2023 15:57:29 +0000 /blog/?p=5757 There are many things to consider when buying a home warranty, which is different from homeowners insurance. A home warranty is a policy that covers major appliances and some systems, such as the HVAC, inside the house. Some policies can be tailored to fit your needs and cover additional things such as electronics, septic systems, … Continue reading Shopping for a Home Warranty

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A woman shopping online for a home warranty.

There are many things to consider when buying a home warranty, which is different from homeowners insurance. A home warranty is a policy that covers major appliances and some systems, , inside the house. Some policies can be tailored to fit your needs and cover additional things such as electronics, septic systems, and hot tubs. Although homeowners insurance will be required for many real estate purchases, a home warranty is entirely optional.

Advantages of a home warranty

A home warranty policy can protect you from the full expense of repairs or replacement of major appliances and, in some cases, systems in your home. Such a policy can also make getting repairs less stressful, as the issuer of your policy will likely guide you to reputable service people. If you鈥檙e selling a home, will make it more appealing to buyers, particularly if it is a home with older appliances and systems.

How to determine what type of coverage you need

Home warranties can vary a great deal in what they cover, ranging from the barebones to the possibility of adding specific appliances at an additional cost. Consider the types of plumbing, electrical systems, and major appliances in the home, as well as the age of each. You may want to review the costs of various policies at this point to help you figure out how much it is worth to invest in multiple levels of coverage.

Be aware that most policies will replace an appliance with something considered to be an equivalent. , you鈥檒l want to check and see if this would be a possibility.  In some cases, you can upgrade by paying the difference in the costs of the various models.

If you鈥檝e recently purchased a home with older systems and appliances, then buying a home warranty should be near the top of your priority list. Although a seller may purchase a policy to entice buyers, if they don鈥檛, buying a warranty after closing on the home is still possible.

Shopping tips

Once you鈥檝e determined what type of coverage you need, it鈥檚 time to do some research. For example, by reading reviews of various companies to see what customers and experts have to say about their reliability, promptness, and service.

Once you have selected several possible companies, compare what they offer. Be sure to look at coverage caps that limit the extent to which they will pay for specific items, . Consider the pricing for various plans in light of your own budget. Compare price quotes, and once you鈥檙e sure you鈥檝e found the best fit for you and your home, take time to read the fine print on the contract you are offered. Although several lists of 鈥渢he best鈥 available home warranties exist and are worth considering, remember that you should research your options and select the option that is the best fit for your personal needs.

Keep your documents organized

Once you鈥檝e selected and purchased a policy, make sure to keep the related documents organized. You can do this in digital format, which makes it easy to access if filing a claim becomes necessary. It鈥檚 possible to create one main PDF to take parts of other documents, such as appliance warranties. You can then combine only the pages you need to form one document that has all the pertinent information in it.

Before you buy a home warranty, take the time to assess your home, appliances, and the systems within your home. Once you have determined what needs to be covered, you鈥檒l be ready to shop for a policy. Be sure to read reviews of the companies you are considering, learn about their customer service, and do price comparisons. Keep your warranty information along with documents on each appliance together so you can find it easily. Even if you鈥檝e already purchased your home, it鈥檚 not too late to invest in a home warranty.

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How to Save Money on Your Homeowners Insurance /blog/how-to-save-money-on-your-homeowners-insurance /blog/how-to-save-money-on-your-homeowners-insurance#respond Mon, 11 Apr 2022 23:56:35 +0000 /blog/?p=5455 It is no secret that homeowners insurance can be expensive. And it isn’t just because the average American home is more expensive than ever. Insurance companies keep raising their premiums to cover losses due to natural disasters, theft and vandalism, weather damage, and accidents. Additionally, other unexpected events like the COVID-19 pandemic have caused a … Continue reading How to Save Money on Your Homeowners Insurance

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A copy of a homeowners insurance policy.

It is no secret that homeowners insurance can be expensive. And it isn’t just because the average American home is more expensive than ever. Insurance companies keep raising their premiums to cover losses due to natural disasters, theft and vandalism, weather damage, and accidents.

Additionally, other unexpected events like the COVID-19 pandemic have caused a surge in expenses. The good news is that there are several effective ways to lower your insurance premiums and protect yourself from these risks.

Read on to learn how to save money on homeowners insurance.

Shop Around for a Better Premium

Most insurance companies will give you a discount if you bundle your homeowners, auto, and life insurance policies together. But that does not mean you should stick with the same company for all your insurance needs.

Shop around to find the best deal on homeowners insurance. Get from up to five different insurers before deciding. You may be surprised at how much you can save by switching to a different company.

Most people think of insurance as a necessary but hefty cost, but it doesn’t have to be expensive if you shop around and find the best deal.

Increase Your Deductible Amount

The higher your deductible, the lower your premium will be. But don’t choose a deductible that is so high that you would be unable to afford to pay it if something were to happen to your home.

Choose a deductible that is comfortable for you and fits your budget. That way, you know that you can afford to pay it if something happens to your home. For example, raising your deductible from $250 up to $500 or higher could reduce what you pay for premiums each month by up to 50%. Instead of paying out hundreds per year in monthly premiums, you are accepting a little more risk on the deductible side, which would only be paid if an issue were to occur.

Take Advantage of Discounts

Many insurance companies offer discounts for things like having a security system, being claim-free, or being a member of specific organizations. Ask your insurer about any and see if you are eligible for them.

You may also be able to get discounts if you insure more than one property with the same company or if you bundle your homeowners insurance with other types of insurance, like automobile insurance.

Don’t forget to ask about multi-policy and loyalty discounts. These discounts are usually offered to customers who have been with a company for a certain number of years or have policies with a high enough coverage limit.

Reduce Your Coverage Levels

Before reducing your coverage levels, some things to think about include the age of your home, how much money you have invested in it, and whether you live in a high-risk area for natural disasters. If you are comfortable with the risk, you can reduce your coverage levels and save money on your annual premiums.

Just be sure to review your policy regularly and update your coverage levels as needed. Talk to your insurer about what coverage is right for you and see if there are any ways you can reduce your premium.

Read your policy thoroughly, so you understand what is covered. If you are unsure about a particular coverage option, ask for an explanation of the benefits and limitations of your insurer.

Use a Home Warranty

If something happens to your home, a home warranty will help pay for the repairs. Home warranties usually cost between $300 and $500 per year, much less than the average homeowner’s insurance premium.

Some home warranties only cover specific systems in your home, such as the plumbing or electrical system. Others offer broader coverage that includes appliances, heating, cooling systems, and more.

When choosing a home warranty, you should also consider the company’s reputation. Do your research to make sure you’re choosing a company with a good track record.

A home warranty is a significant investment that can help you avoid costly repairs in the future. Make sure to choose a plan that fits your needs and budget.

The Bottom Line

The average American spends over $1,000 per year on homeowners insurance. That’s a lot of money! That’s why you should make sure you’re getting the best deal on your insurance. But how? You can compare home insurance rates side by side to find the lowest price, or you can work with an insurance agent to find the best deal for your needs.

No matter which route you choose, make sure you compare home insurance rates at least once a year to ensure you’re getting the best deal. Rates can change from one company to another or even from , so it’s essential to do your research before signing on the dotted line.

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Poor Workmanship When Renovating Your California Home? Know Your Rights /blog/poor-workmanship-when-renovating-your-california-home-know-your-rights /blog/poor-workmanship-when-renovating-your-california-home-know-your-rights#respond Wed, 16 Mar 2022 20:10:12 +0000 /blog/?p=5426 If you are a homeowner, regardless of the age of your home, at some point there will be home improvements, maintenance, or renovations to undertake. Projects to improve your property, such as knocking out drywall or creating a backyard garden, will be exciting yet inevitably stressful. The last thing you want to think about during … Continue reading Poor Workmanship When Renovating Your California Home? Know Your Rights

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Two workers in the middle of a California home renovation.

If you are a homeowner, regardless of the age of your home, at some point there will be home improvements, maintenance, or renovations to undertake. Projects to improve your property, such as knocking out drywall or creating a backyard garden, will be exciting yet inevitably stressful.

The last thing you want to think about during your project is a future lawsuit. By consulting a real estate attorney, a consumer rights group, or local government authority before you sign on the dotted line with your selected contractor will aid you in protecting your rights.

California Laws Regulating the Construction Industry

California has the Contractors State License Board which regulates the construction industry. This Board will issue licenses and discipline contractor firms. In California, state law insists that contractors must advise clients of their consumer rights.

If the contractor you have selected does not have a license for the type of renovation you want or does not offer a contract, this is a huge red flag. Hiring an unlicensed or unqualified contractor can prove to be very expensive if problems arise.

The California Business and Profession Code describes contract requirements in Section 7159 and includes repairs, remodeling, or modifying residential properties.  Not only does this include work on your house, but also garages, fences, terraces, pools and spas, patios, and driveways. Projects under $500 may not be considered under the code.

The law defines what needs to be written in the contract and specifies that work cannot begin until the contractor provides you with a signed and dated copy of the contract. Down payments must not exceed $1000 or 10% of the contract.

What to Do to Protect Your Investment

There are several steps to take if you run into problems:

  • Communications should be in writing. Often issues may result due to bad communication or even a lack of updates.
  • Be somewhat flexible but with limits. Mistakes and unexpected events happen. However, it should not occur regularly.
  • Define milestones with payments and timelines.
  • Always refer to what you have agreed upon in your contract. Avoid agreeing to work without one.
  • Amend your contract if need be, especially in the case of a missed milestone. Do not rush to meet a deadline by accepting lower-quality work.
  • If you have problems with onsite workers, speak with the boss.
  • Communicate with onsite subcontractors doing the work. If they are dissatisfied with your contractor there may be a money issue involved.
  • Keep an eye on additional charges. Refer to your contract and amend it if you wish to upgrade and incur an increased cost.
  • Withhold a missed milestone payment but inform your contractor that you expect conditions to be satisfied to make payment.
  • Consider posting a review or testimonial. The risk of bad reviews or payment withheld may stimulate your contractor to meet the contract conditions.

Poor Workmanship

In the event of poor workmanship, there are several things you can do. The first is to file a complaint against your contractor with the Contractors State Licensing Board. There are three ways to do this. You can call them to ask that a complaint form be mailed to you, use the form, or select to and print it. The Department of Consumer Affairs assists in this.

Another choice is to for poor workmanship if you have already fired the contractor.

Poor workmanship can be evident by defects in:

  • Concrete
  • Design
  • Drainage
  • Drywall
  • Engineering
  • Finishes
  • Roofs
  • Siding
  • Slabs in concrete
  • Soil settlement
  • Structure
  • Ventilation
  • Windows

These kinds of defect can reduce the value of your property.

There are four categories of construction deficiencies:

  • Design. This will involve architects and engineers that do not respect building codes in their designs.
  • Material. This involves the use of substandard materials.
  • Subsurface. This involves the instability of the soil where the house is located.
  • Workmanship. This involves workers that are poorly trained or those that use shortcuts.

Suing the Contractor

To sue your contractor for bad workmanship, you must have a signed, legally binding contract or agreement. You will need to demonstrate that you fulfilled your obligations of cooperation and the agreed payment schedule. The most important aspect, however, is demonstrating breach of the contract or agreement- evidence that your contractor did not deliver the work expected or that it is faulty. Finally, you will need to indicate damages that you incurred by redoing the work.

Before making a decision to sue, make sure to consider the following:

  • Document any poor work. Have proof that the contractor did not respect the contract by presenting shoddy work or by not respecting time schedules. Always inform your contractor in writing that they are at risk of breach of contract.
  • File a complaint with your local state licensing board. When a contractor receives enough complaints, the board can choose to publish this info.
  • You can attempt to resolve any issues by opting for arbitration or mediation.
  • Sue your contractor in small claims court.

What You Can Recover

Because suing normally involves a breach of contract, fraud, or negligence, with sufficient evidence that includes testimonies, photographs, and documentation, you may be able to win financial compensation. Damages include:

  • Court costs and fees
  • Lawyer fees
  • Market value reduction or depreciation
  • Repair costs
  • Temporary housing costs

A Final Thought

The best method for avoiding the risk of poor workmanship is to select a dependable contractor. Get references from other clients of the contractor to see if the work was well done and has lasted. Avoid contractors that will cut corners to contain costs or prefer cash agreements. Review the contract and make sure it is detailed and in line with your expectations.  In the end, a little research and preparation can help you avoid the risk of poor workmanship and the hassle of legal action.

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