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Anyone who owns a home knows that homeowners insurance is essential. It’s coverage you need to have in the event your home suffers significant damage. But understanding just what your insurance covers is not as simple as it sounds, and reviewing your coverage regularly is a prudent idea.

Are you covered for floods? Fires? Earthquakes? All three? Does your policy provide guaranteed replacement cost”which, for obvious reasons, since houses appreciate in value, may be almost prohibitively expensive? And what about exclusions? Many homeowners aren’t sure exactly what their coverage will pay for.

Financial advisors at consumer resource The Motley Fool suggest asking yourself three pointed questions when purchasing or renewing homeowners insurance:

1. What does it cost to build in your area? There’s no way to price disaster insurance effectively without knowing what it would cost to rebuild your home. You need to know the per-square-foot average construction cost for your zip code”a number you should be able to get from a reputable insurance agent”then multiply that by the total area of your home to get the replacement cost. Insure for that amount, and then recheck the pricing regularly.
2. What risks does your home face? Exclusions and riders are common for homeowners insurance. In Colorado, for example, policies frequently exclude damage from mold, since mold doesn’t thrive in the state’s dry climate. Other common exclusions apply to older homes, where outdated plumbing or fixtures may lead to greater risks. Be sure you understand exactly what risks your insurer will be covering.
3. What’s my back-up fund like? The best way to save money on a homeowners policy is by taking on a higher deductible. But the higher your deductible, the less likely you will be to put in a claim for any lesser damages that may occur. You will need to have an emergency fund large enough to cover the gap in the event you ever need to.

Interested in housing and real estate tips? Feel free to contact me directly.

Published with permission from RISMedia.

Published with permission from RISMedia.

Just because bedrooms are not usually the first thing people see when walking into a home, it doesnt mean theyre not worthy of some love. There is no better investment than one which gives you peace of mind, and a well-equipped bedroom can give you even more than that. A good nights sleep can take away your headaches, lower your stress levels, alleviate your muscle cramps, and put you in a good mood.

Here are four tried and true ways to achieve bedroom nirvana:

1. Sleep on a cloud: It doesnt have to be down. Even a quality egg crate can add that cloud-like feeling to your bed. Top that with some fluffy pillows and comforters and you will be on the stairway to heaven. Soft bed sheets, whether you go for quality cotton or all-out with silk, will put an additional layer of comfort between you and your mattress.
2. Color-code for success: In recent years, color-coding has been all the rage in interior design. The psychology of color has allowed us to determine what hues are the most soothing. The rule for serene bedrooms is shades of white and toned-down browns, blues, and pinks. Going for warmer colors can add coziness, and bright colors can help you wake up energized. Decide what your sleeping pattern needs the most, and paint those walls.
3. Dim the lights: Nothing kills a comfort vibe faster than a white fluorescent light. Leave those for ICUs, and switch to yellow light. This swap will work even better if it comes with a dimmer switch you can rely on. The key is to keep your room in tune with your mood so that your tired brain is not jumping through hoops to get you some Zs.
4. Aim for space: Space is a two-way street. On the one hand, you need space for mobility and to keep your room from feeling stuffy or looking cluttered. Yet, certain furniture is a must. Make sure that your bed is big enough to fit everybody who sleeps in it, buy a reliable night stand, add sitting spaces with chairs or ottomans, and provide your room with other surfaces to house your belongings. If everything you are carrying falls seamlessly into place as soon as you enter your bedroom, then consider yourself a winner.

With these minor fixes you can turn your bedroom into an actual haven. Given that you spend at least a third of your day within those four walls, why not get comfortable?

Published with permission from RISMedia.

New buyers can get overwhelmed by the additional expenses incurred during homeownership. Besides making monthly mortgage payments, homeowners may have to pay for gardening, pest control, pool maintenance, plumbing fixes, electrical work and more.

But the good news is that tax time offers homeowners a number of deductions and credits not available to renters. Check with a tax consultant to see if these deductions apply to you.

Private Mortgage Insurance
PMI is the premium you pay every month until your equity equals 20 percent of your homes value. Luckily, these premiums can be deducted from your income.

Mortgage Interest
If you paid more than $600 dollars in mortgage interest during the tax year, every penny you paid is deductible”and that includes interest on a second mortgage.

Local Real Estate Taxes
Some taxpayers overlook the fact that homeowners can deduct local, state and even foreign real estate taxes on their federal returns. Lower-income homeowners may also get special property tax benefits from their state or municipality, so look into further breaks specific to your community.

Losses From Weather, Fire or Theft
While nobody wants a tree to fall on their house or burglars to make off with their flat screen, the IRS grants a break to any property or casualty loss that is more than 10 percent of your gross income and is not reimbursed by your insurance.

Moving Expenses
If you moved 50 miles or more for a new job during the tax year, you can deduct your moving expenses. (Note, that if you started the new job more than a year before purchasing the new home, the moving expenses are not tax deductible.)

Selling Costs
If you sold a home during the tax year, the commission paid to a real estate agent is tax deductible, as are any legal fees and closing costs. Just like home-improvement costs reduce your cost basis, so do your selling costs.

Published with permission from RISMedia.

Significant works of art require being exhibited in a way that does them justice.

Heres what you need to know about displaying your art at home…

Assess the Space

Is the space best for a few large paintings or several smaller works?

Group pieces that are connected in some way, like style, color or motif.

Lighting

Warm, dimmable light bulbs are best to illuminate the artworks natural hues.

Avoid direct sunlight, as it can cause fading.

Consult a Professional

Bring in a professional to help curate your space.

Services can outfit your home with museum quality hanging systems to take your collection to the next level.

Published with permission from RISMedia.