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Before you sign on the dotted line, take the following factors into consideration when purchasing homeowners insurance in order to make sure youre getting the best rate and proper coverage:

Things to ask:

1. How far away is the property from a fire department? Is it a professional or a volunteer-based establishment? Home insurance is bound to be less expensive for homes that are close to professional stations.
2. Are the plumbing and/or electrical systems outdated or unsafe? Insurance companies will charge more if your home is prone to damages.
3. Is the home located by a coast rather than inland? Consider if theres exposure to hurricane winds that could jack up insurance rates.
4. What about windstorms?
5. Would you need flood insurance? Many homes may need flood insurance, yet its not covered by general insurance programs. Instead, you would need to get insured directly by the federal government.

Things to do:

1. Get the home inspected before buying. A professional can tell you whether or not your new home comes with any serious risk factors.
2. Ask the seller for a copy of the homes claims history. This document will give you access to the number and type of insurance and claims filed by the owner, including reports on water damage, fire, and crime.
3. Have an agent find out exactly how much it will cost to insure your home, including earthquake and flood insurance, if necessary.

Things to know:

1. A well-built, well-maintained home that can fend off natural disasters will always cost less to insure.
2. Home insurance is meant to cover sudden and accidental disasters only.
3. The regular maintenance of the home is the owners responsibility. Insurance companies do not cover mold, small leaks or the repercussions of using low-quality tools or materials.

Source: Insurance Information Institute

Published with permission from RISMedia.

Is student loan debt weighing you down?

Pay beyond the minimum payment every month to reduce your principal and avoid wasting money on interest.

To trick yourself into making an extra full payment annually, split monthly payments in half and pay that amount every two weeks instead.

Consider refinancing and consolidating your loans with a lower interest rate.

Devote cash windfalls, such as pay raises or tax refunds, to paying off your loans.

Try getting a side job and putting the extra income toward your loans.

If you cant boost your income, trim other monthly expenses to make bigger loan payments.

By using these strategies, you might be able to pay off your loans faster.

Published with permission from RISMedia.

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.