Here is the February 2020 Market Update for Virginia Beach and the surrounding areas of Hampton Roads. More information can be obtained from The Real Estate Information Network. Read more here….
THE DIFFERENCE BETWEEN HOME WARRANTY & HOME INSURANCE
When purchasing a new home, it’s important to do in-depth research on all facets of the home buying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options.
Homeowners insurance pays for any accidental damages and loss that are caused by fire, lightning strikes, windstorms, and hail, however, damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in your home or on your property. According to American Home Shield, the average annual cost of a homeowner’s insurance policy ranges between $300 and $1,000 and the bank usually asks you to obtain a policy before the mortgage is issued. Make sure to keep in mind that each type of coverage in the policy is subject to a limit and, in most cases, you will have to pay a deductible.
A home warranty is designed to cover the cost of repairs and replacements of larger appliances and crucial systems in your home that may fail or break due to age and wear and tear. This includes but isn’t limited to HVAC, electrical, or plumbing components, kitchen appliances, and your washer and dryer. With a home warranty, you are required to pay premiums year-round, even if you do not use it, and it won’t cover damages if appliances were not maintained properly or if the damage is from a fire or other disaster.
7 Simple Steps to Sell Your Home For More MoneyGet your house sold quicker and for the most money possible! Taking care of just a few things around the house can drastically increase the value of your house by thousands! Save money and time in order to sell your house for the most money! Request your FREE report right now.
Check out these AWESOME HOMES FOR SALE
[idx-platinum-widget id=”20003-58798″ ]
ARE YOUR THINKING ABOUT BUYING OR SELLING IN hampton roads, VIRGINIA?
I’m here to help guide you through your home buying or selling experience.
LOOKING FOR MORE INFORMATION ABOUT hampton roads, VIRGINIA?
You’ll receive the benefits of learning about great neighborhoods, trends and hot spots.
I hope that you enjoyed this February 2020 Newsletter post!
Have Questions?If you have any questions feel free to get in touch with me. I'll be sure to get back to you shortly.