Home Inventory With the hurricanes, floods and earthquakes happening weekly, I thought it might be a good time to share about how important having an home inventory is for everyone. My sister and I put together a fact sheet on home inventories for our clients about five years ago. Remind your family and friends so they are prepared if necessary. Having your home contents insured is very important. Having a detailed record of everything that you own is a must. Should you ever need to file a claim; the insurance adjuster will expect you to submit a list of all damaged belongings, complete with purchase dates, purchase prices, brand names, model numbers, receipts and photos. If you can't provide this information, your claim may be denied, and that's not what you've been paying those hefty premiums for! Protect yourself (and your belongings) by completing a full home inventory and updating it annually. Having an up-to-date home inventory will help you get your insurance c
Hidden Costs of Buying a Home You’ve saved and planned, and you are finally ready to buy your first home or move up to a larger one. It is easy to figure out how large a mortgage you can fit into your budget. Your real estate agent has tables and formulas that can determine the percentage of your income that’s reasonable for a home. However, be aware of the numerous other costs that must be considered, both for the home purchase and for the monthly payment. Loan Origination Fee This is the fee paid to your lender for the work involved with making the loan. It can be a large expense, depending on the lender and the size of your mortgage. Figure it will be between a half and one percent of the total mortgage. The loan origination fee must be paid to the lender up front, so budget accordingly. Inspections Your first big expense after your offer on the home is accepted will be inspections . Your lender will likely require a thorough inspection, but it will be money well spent for you t