Posted on: October 30, 2017 by Goodrich & Watson
Homeownership is a huge life accomplishment. Most new homeowners know they need to budget for repairs and taxes, but there are some other factors that most new owners don’t even consider. In this article, we’ll explore four of the main things that might be unexpected and unplanned. Most importantly, protect your new investment with a Newport News VA Homeowners Insurance.
As a homeowner, you’re on the hook for every repair. Because of this, start a fund that can accommodate common repairs such as a leak or a broken dishwasher. As a rule of thumb, save 1-3% of your home’s purchase price each year for repairs. Otherwise, you might have to rely on credit cards and loans.
Did you know that you can receive credits for things like installing solar panels or purchasing Energy Star appliances? Do some research early on about the different tax credits that may apply to you, and then reap the benefits when tax time rolls around, says Bright Nest.
A basic policy might do the trick, but is it enough to cover the losses you might experience? Take a close look at your insurance and upgrade if possible. Have your trusted insurer identify any potential gaps, address your specific concerns, and provide enough coverage for all of your assets to be replaced.
Increasing your resale value is a big priority for novice homeowners. Any upgrades or improvements should be documented so that you can prove its new worth. This can be done on a simple spreadsheet; just keep track of all the receipts.
You can trust Goodrich & Watson with all of your home-insurance needs. We know your home is your greatest asset, and want to protect it with insurance you can trust. For more information, contact us at (757) 591-2032.