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A homes roof is its most important feature, and for good reason. If the roof leaks or is damaged in some way, it can lead to a host of problems ” and insurance claims.

Many home insurance companies limit how they insure roofs, so its worthwhile before buying home insurance to know how your roof will be covered. Here are some of the ways a roof can be covered by insurance:

Old roof may need to be replaced

Some insurers wont renew an existing policy or issue a new one on a home with a roof thats 20 years old or older unless it passes an inspection.

Even if they do, they may only pay actual cash value for the older roof if its damaged, meaning theyll only pay for what the roof is worth at the time of the claim and not for the cost to fully replace it.

Are leaks and damage covered?

Some types of roof damage are covered by most home insurance policies: fire, vandalism, hurricanes and tornadoes. Others, such as wind, rain or hail may only be covered based on the age of the roof, or not at all.

For example, a leak on a roof thats 10 years old may be fully covered. But a roof thats 20 years old may only be covered for a leak for the value of the roof after 20 years of wear and tear.

If proper maintenance wasnt done to stop a leaky roof, then only partial reimbursement or none at all may be provided.

Coverage limitations

Other than an old roof, insurers may also limit coverage for such things as having a wood shake roof. A wood shake roof or wood shingle roof may require adding an endorsement to the policy, which is a written document attached to an insurance policy that excludes or restricts coverage of those wood features. Only the actual cash value of a wood shake roof, for example, might be covered.

Insurers may also want proof that there wasnt pre-existing damage before insurance coverage begins.

This can be assessed by a roof inspector who can give you a written report on the condition of the roof. It can include a cost estimate of repairs.

Cosmetic roof exclusions may also be included in an insurance policy. For example, a metal roof thats damaged by hail that causes dings in the roof may not be covered because its considered cosmetic and doesnt harm the durability of the roof.

For more real estate information, feel free to contact me.

Published with permission from RISMedia.

Whether you’re scoping out a vacation property or looking into becoming a homeowner for the first time, applying for a mortgage is a lengthy and complicated process. While your real estate agent and lender will be there to walk you through the details, knowing what possible errors could lay in waiting will help you make the best decision. Let’s review some of the most common mortgage mistakes so you can avoid making them.

1. Weak credit history
Loans are all about credit history ” it’s hard to land a mortgage without one. But having a credit history doesnt mean you have a lot of credit; it simply means you have been given credit in some form and have a documented history of repaying it. How much credit? Lenders often like to see at least three lines of credit with a minimum two-year history on each.

And of course, you don’t just need a credit history; you need a good one. Pay down credit cards and loans regularly to heighten your score.

Pro tip: Paid off that credit card? Don’t cancel the account. Keeping the account active, even if it’s unused, helps build a strong credit history.

2. Weak work history
You’re less likely to get a loan if you can’t prove you’re able to hold down a job. And even if you do get approved with a weak work history, you may not be able to qualify for a good interest rate. What is a strong work history? Aim for at least two current, consecutive years of employment in the same occupation.

Of course, certain circumstances may provide an exception to this rule. If you are a recent graduate with proof of future income, or someone who is coming back out of retirement, some lenders may not hold a lack of recent employment history against you.

3. Opening new credit accounts
Maybe you got a big raise and are applying for a mortgage and leasing a brand new car all in the same month ” bad idea. If you’re thinking of applying for a loan, avoid opening brand spanking new credit lines. Lenders like to see solid, stable credit histories, and a brand new line of credit can’t offer that. Unfortunately, some people make this mistake thinking that it will help their credit score, when in truth it can hinder it.

4. Making big purchases
Slow down there, big spender. Just like lenders want to see stable credit history and employment, they want to see stable spending. If you make large charges to your existing credit accounts around the time youre shopping for a mortgage, you can increase your debt-to-income ratio. So hold off on that new furniture set or big screen TV until after you’ve purchased your home.

5. Not reviewing your credit report
When is the last time you checked your credit? Often, credit reports have errors, and you want to right these before it’s time to apply for your mortgage.

6. Not knowing what you can afford
These days, it’s very easy to figure out how much home you can afford. Simply find a mortgage calculator online, take a look at how much you can pay each month, and plug in the numbers. This will give you a solid idea of how much house you can afford, which can help you avoid disappointment down the road. It’s also important to get pre-approved for a loan before you begin your home search. There have been many instances where a home sale falls through because the buyers made an offer that they couldnt back up with a mortgage. By showing that pre-approval letter, the buyers are showing the sellers they can afford to make good on their offer, and may also be in a better position to negotiate. And these days, many real estate professionals won’t work with a buyer who isn’t pre-approved.

Published with permission from RISMedia.

With about 56.7 million people living with a disability in the United States, according to Census Bureau data, there are plenty of disabled people who may need help buying a home.

The good news is, help is available. Here are some laws and programs designed to make homeownership more possible for the disabled:

Federal law: The Fair Housing Act prohibits lenders, sellers and real estate agents, among other housing providers, from discriminating against the disabled in the home-buying process.

They also cant be discriminated against by preventing them from making reasonable modifications to the property, such as accessibility ramps. The act requires that builders of multifamily residences meet certain accessibility standards, such as wide doors for wheelchairs.

Housing counselors from the Department of Housing and Urban Development, or HUD, are available to help the disabled buy a home or deal with other housing issues.

Another HUD program ” the Section 8 Homeownership Voucher Program ” helps low-income people to rent or buy a house by subsidizing their monthly mortgage payments.

High debt-to-income ratio: Homebuyers with a low income can have difficulty getting a home loan, and people with disabilities earn less on average than most Americans.

Less income can lead to higher debt, and a high debt-to-income ratio of 43 percent can prevent borrowers from being approved for a home loan.

A disabled homebuyer with a ratio as high as 50 percent can get help through the Fannie Mae HomeReady program, which allows the income of someone else who is living in the home with the borrower to be considered household income to help them qualify for the loan.

Financial aid: Down payment assistance, such as Individual Development Accounts, or IDAs, help low-income families buy homes by giving them grants for a down payment. Programs differ by state.

Help for vets: Disabled veterans can get a Specially Adapted Housing Grant from the U.S. Department of Veterans Affairs to build or remodel a home for disabled access, or to use toward an existing mortgage thats adapted for disabilities.

Buying a home for the first time can be daunting. Whether youre disabled or not, seeking help from a trusted real estate professional will make the process easier.

Aaron Crowe is a freelance journalist who specializes in personal finance topics.

Published with permission from RISMedia.

Its no secret that the kitchen ranks highly among luxury homeowners. Often described as the heart of the home, this is where families gather together and make memories, which is why you want a cooking area thats a cut above the rest.

Here are a few key features thatll enhance your kitchen, as well as impress potential buyers if you later decide to sell your house:

Two Ovens
In luxury kitchens, two ovens are fast becoming the norm. They provide you with flexibility and functionality, especially when making a multi-course meal for large groups. When youre baking fish in one oven and cake for dessert in the other, youll be sure to appreciate having a well-equipped cooking space.

Pot Filler
For those who dont particularly enjoy lugging a pot full of water from the sink to the stove top, a pot filler is the ultimate convenience. Serious chefs love having a faucet mounted right above the stove because it lets you skip the heavy lifting and get right down to cooking.

Professional-Grade Range
Whether youre making family breakfast or hosting dinner parties, a professional-grade range is a kitchen essential. Having six to eight burners is sure to come in handy when youre whipping up elaborate meals, and the aesthetic of a commercial-style cooktop will let everyone know youre not messing around in the kitchen.

Dishwasher Drawers
Rather than having one large dishwasher, two dishwasher drawers give you the ability to clean smaller loads without sacrificing space. When you only have a few dishes to clean, running a single drawer is an efficient way to save water and energy”plus, you wont have to bend over and strain your back when loading it!

Smart Appliances
Of course, technology in the kitchen is becoming increasingly desired. Millennial buyers, in particular, value having appliances they can control through their smartphones or by giving voice commands to a virtual assistant. Smart ovens, touchless faucets, and refrigerators that notify you when ingredients are about to go bad are the new normal in luxury kitchens.

Published with permission from RISMedia.

Many people enjoy the convenience of living in a city or in the suburbs, with easy access to stores and entertainment and with neighbors nearby. For others, the idea of being surrounded by nature and away from all the hustle and bustle is appealing. If you are thinking about buying a house in a rural area, carefully consider the advantages and downsides.

Amenities and Resources
Homes in rural areas are often much less expensive than those in cities and suburbs, but lower prices often mean fewer amenities and less convenience. A rural house may not have what would be considered standard features in an urban area, such as running water, electricity, central heat and internet access. Police, fire and medical help could be miles away, and first responders could take a relatively long time to reach the house in an emergency. You might also need to drive far to reach stores, restaurants, entertainment and medical providers, but you would encounter less traffic than you would in a city.

Nature
If you love the outdoors, you may be intrigued by the idea of living in a wooded area where you could see birds, deer and even larger animals, such as bears, on a regular basis. That said, some animals have the potential to cause damage to your home or harm your family or pets. Large wildlife could also draw hunters to your property, which could be both a nuisance and a safety hazard.

Rural areas often feel the effects of severe weather more than urban and suburban locations. Heavy snow, rain and wind can be more problematic in rural areas where roads may not be paved, infrastructure may be less sophisticated or not as well maintained, and workers may need to cover much larger geographic areas since homes are more spread out. A snowstorm that would be an inconvenience in an urban area could leave you stranded in a rural home without electricity and heat for days or weeks.

Work Options
Employment opportunities are much more limited in rural areas than in more populated locations. If you have a job that allows you to work from home, that may not be a problem. If you would need to drive a long way to and from work, that could cost a lot in terms of gas, wear and tear on your vehicle, and time spent commuting instead of relaxing with your family.

Community Support
Rural areas are often more close-knit than urban and suburban neighborhoods. Residents look out for each other, and crime tends to be relatively low. On the other hand, it may take time for new homeowners to feel like they fit in, and some people dislike the relative lack of privacy.

Is Country Living Right for You?
A rural home offers several advantages, such as proximity to nature and a close-knit community, but it has downsides, including fewer employment options and less convenience. Weigh all these factors carefully when deciding whether to purchase a house in a rural area.

Published with permission from RISMedia.