[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1531847140584{padding-right: 50px !important;padding-left: 50px !important;}” z_index=””][vc_column][vc_column_text]Home buying can be an exciting and nerve-wracking process. Whether it is your first home, dream home, recreational property or income property, before you sign on the dotted line and finalize your home purchase, take the time to consider all the aspects of the transaction.
If you are embarking on a new home build, consider the following:
- Construction timeline
- Added costs for items such as fences and landscaping
- Do you know the builder? Are they reputable? Have they been involved in any lawsuits?
New homes will come with a new home warranty which can provide you with added protections should things go wrong. Take the time to discuss the details of this warranty along with the builder’s warranty so you know what is and is not covered and by whom.
If you are buying an existing house, make sure you have a home inspection completed. The home inspection can provide insight into structural updates that may need to be completed on the house. These costs along with remodeling or renovation costs such be considered when negotiating a purchase price.
Each neighborhood will have something unique to offer a potential homeowner. Consider things such as:
- Location to amenities such as schools, grocery stores, playgrounds, pathways, public transit
- How long will your commute be?
- Is there easy access to and from your community?
Your home purchase will be a large one! Keep in mind there are also additional costs to include in your monthly calculations. Calculate your mortgage costs, property taxes, utilities and insurance. Are there condo fees or community association fees? Do you have furniture to fill your house? Ensure the property you are buying is free and clear of any liens and remember that the purchase will also incur closing costs above the purchase price. These closing costs include your legal fees and realtor fees.
Once you have made the decision to proceed with your home purchase, talk to your home insurance Broker to discuss your home insurance needs.
If you ever have questions regarding your home insurance policy or coverage in general, contact Rizk Insurance today and we’ll help answer any inquiries you may have.[/vc_column_text][/vc_column][/vc_row]