Tucson Real Estate & Tucson Home Search

SPDS Tucson Home Seller

SPDS And The Tucson Home Inspection Process

Required From A Tucson Home Seller

Seller’s Property Disclosure Statement OR “SPDS” This important document provides information on the condition of the seller’s home.

The SPDS identify what the seller knows about the property. The Arizona Department of Real Estate requires the SPDS for every home sale.

A critical exception to this rule is REO homes.

Sellers must disclose all known material facts about the property in the Seller Property Disclosure Statement. This is one time when TMI (Too Much Information) doesn’t apply. The more information on the SPDS the better.

Disclosure helps to protect the Seller from a future claim by the Buyer. The buyer must receive the SPDS within 5 days of the accepted contract.

With the accepted offer, the Buyer will start their “due diligence” process. The Buyer has 10 days in which to complete a Tucson Home inspection.

A home inspector will review the SPDS before beginning their inspection. At the end of the inspection, a Home Inspection Report describes the condition of home. From the “inspector’s” point of view.

A Home Inspection Covers

A Tucson Home Inspection will take 2 to 3 hours based on the size of the home. The report covers the roof, heating and A/C systems, electrical and other aspects of the home.

After the inspection, the buyer of the home gets a Home Inspection Report. The Buyer uses the report to decide whether of not the home’s condition is acceptable to them.

It documents what the Buyer is requesting the Seller to repair before they “buy” the home.

The Buyer’s agent will prepare a “Buyer Inspection Notice and Sellers Response” – BINSR. The BINSR identifies the items the Buyer want the Seller to repair. Repairs may be a condition of completing the process of purchasing your home.

The Seller now has THREE (3) options

1 – Agree to make all requested repairs and proceed with the sale.

2 – Agree to make some, but not all, of the requested repairs.

3 – Refuse to make any repairs.

If you elect Option #1, you are essentially done.

You make the repairs agreed to before Close of Escrow and provide the Buyers receipts for the completed work.

If you should elect either Option #2 or #3 –

The Buyer now has TWO (2) options

1 – Cancel the contract and have their earnest money returned.

2 – Accept your response and proceed with the purchase. While this process sounds complicated it is actually fairly straight forward. The purchase contract sets forth the time-lines (they can be modified) and clearly sets the options for both the Seller and Buyer.

We are, of course, there to explain and review the options available at each set in the process. We will prepare a “Repair Addendum” listing the requested repairs.

When signed, we will forward it to the Seller’s agent.

Other Inspections To Consider

Other inspections that are almost always done by a Buyer include; Tucson Termite Inspection and Tucson Roof Inspection also provide valuable information to the Buyer’s purchase decision.

Some Buyers want to have Tucson Radon Inspection or Tucson Mold Inspection. If suggested by the Tucson Home Inspection a Tucson Structural Inspection or Tucson Pool Inspection may be required.

Should the property have a septic system a Tucson Septic Inspection will be required.

Considering A Home In Tucson, AZ?

Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.

We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor duo, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.

Why? We want you to know what to expect. And what to plan for.

Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.

For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home.

Our goal is to provide insight, advice and the highest level of professional services to you. We want you to be proud to recommend us to your family, friends and acquaintances.

Review our profiles. Check out our backgrounds, education, and certifications.

We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!

Selling Your Home In The Greater Tucson Area?

Selling a home requires more than listing it in the Tucson MLS system. It’s about marketing. Marketing through multiple online channels.

To no one’s surprise, 80% of home buyers start their search on the internet. Homes must be visible on multiple internet channels. The more visible a home is, the faster it will sell.

We use multiple online marketing channels to showcase your home. We will build a stand-alone website built to show your home. Our marketing program targets key cities in the U. S. based on the season. For luxury listings, our drone service provides video of your home and neighborhood. This video along with professional photos helps the online buyer see and feel in your home.

To learn more about how we can help you sell your Tucson home, call us – 520-940-4541 – to arrange a meeting. We will visit your home and prepare a comparative market analysis. Then we will meet with you to review our analysis and our marketing program to “get your home sold!”

Conclusion

Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson. Our clients tell us that.

Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.

We are ready to answer your questions and help you get the information you are looking for.

We are a top Realtor team in Tucson, AZ since 2002. Take a few minutes to read our profiles and client testimonials.

Are we the Tucson Realtors you have been looking for?

Sign UP to receive daily HOME TRACKER UPDATES - OR - Our Monthly NEWSLETTER. And get regular updates on the Real Estate Market and events in Tucson, AZ.

Questions about the Tucson Real Estate Market or Tucson Homes for Sale? Call Us - 520 940 4541 OR complete the - CONTACT FORM - and we will get right back to you!

Back to – HOW TO BUY A HOUSE IN ARIZONA

Arizona Home Insurance For Buyers

This Is Why Arizona Home Insurance Is Needed

Lenders Won’t Fund A Loan Without Arizona Home Insurance

The cost of your Arizona Home Insurance should be know during the inspection period. And more important, it must be in force before your lender will fund your loan. A Tucson Home Buyer must have Arizona home insurance and Evidence of Insurance (EOI) before closing.

Your insurance agent will send an EOI to the lender and escrow officer BEFORE close of escrow. It is worthwhile to have your agent send you written confirmation when sent.

Your Realtor will get a CLUE report of all claims made by the seller. Your Realtor should review that report with you during the inspection period.

A lot of claims is likely to increase your homeowners insurance. Sounds odd, but understand, the insurance policy covers the home. A larger number of claims by the seller suggest the “home” has a greater potential for future claims. Its about the property, not the owner.

Getting An Insurance Quote

Getting a homeowner insurance quote is the first step to making sure your house and property is covered.

As with most things in today’s world, getting a quote is easy. Go online. Or contact your current insurance agent. They will be able to find an agent in Arizona.

You can use the coverage for you prior home as a starting point. BUT keep in mind that different coverage may be “appropriate” for Arizona.

A ?home insurance policy will ?usually cover things like:

Your Home
Are There Other Structures On Your property
What Personal Property Will You Have
Fires or Lightning
Explosions
Vehicles
Smoke
Weight of Ice, Snow Or Sleet

Liability
Do You Have Expensive Home Electronics
Are there Smart Appliances
Windstorms (Hurricanes & Tornadoes)
Riots or Civil Commotions
Aircraft
Theft Or Vandalism
Falling Objects

Understand the Insurance Coverage You Need

But no matter how you get a quote, take time to understand the coverage details on your new home. Every State has its own unique coverage options.

For example, Arizona isn’t known for natural disasters. But flood insurance is common in some areas.

You can customize your policy to your specific needs. To help you find the “right” coverage, here are 65 things your homeowners insurance will cover. Of course, some will require “riders” and additional premiums.

Two home insurance coverage considerations you need to understand are “Extended VS Guaranteed” and “Ordinance Or Law” coverage. Both may save you money should you need it.

At Close Of Escrow

The Arizona home insurance premium becomes part of your closing costs. In most cases, 3 months to one year of insurance premium goes into your mortgage escrow account.

Mortgage lenders prefer property taxes and insurance go into an escrow account. The monthly mortgage payment includes these amounts.

Funding these items monthly insures funds are available to pay these items when due. The mortgage servicing company will make the payments.

It is a good idea to confirm the mortgage servicing company has the correct information. There are instances where payments went to the wrong parties. Both insurance and property taxes.

Some mortgage companies will allow you to pay your home insurance premium yourself. But you will need to discuss that option with your lender and receive permission.

Escrow Will Want To Know

As the buyer, you will be contacted by the closing officer to confirm that you have a binder for homeowners insurance.

They may request a receipt for the first-year’s premium.

NOTE – In many cases the Arizona home insurance premium will be included in closing costs and the first years payment made by the escrow company immediately after Close of Escrow.

Also, when the mortgage lender maintains the escrow account, an additional amount equal to two months of premiums must be paid to fund the account. This adds to a total of 14 months of premiums due at closing.

The Insurance Agent you use will provide your lender and the closing officer the required Evidence of Insurance. This will be done as soon as you sign the policy documents.

Remember – Arizona real estate lender’s won’t fund a loan until they know the home is insured. They want to protect their loan amount should the home be destroyed.

Considering A Home In Tucson, AZ?

Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.

Why? We want you to know what to expect. And what to plan for.

Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.

For us, you are not another real estate transaction. Our goal is to provide insight, advice and the highest level of professional services to you. We want you to be proud to recommend us to your family, friends and acquaintances.

Review our profiles. Check out our backgrounds, education, and certifications.

Selling a home in the Tucson area?

Selling a home requires more than listing it in the Tucson MLS system. It’s about marketing. Marketing through multiple online channels.

To no one’s surprise, 80% of home buyers start their search on the internet. Homes must be visible on multiple internet channels. The more visible a home is, the faster it will sell.

Conclusion

Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson. Our clients tell us that.

Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.

We are ready to answer your questions and help you get the information you are looking for.

We are a top Realtor team in Tucson, AZ since 2002. Take a few minutes to read our profiles and client testimonials.

Are we the Tucson Realtors you have been looking for?

Sign UP to receive daily HOME TRACKER UPDATES - OR - Our Monthly NEWSLETTER. And get regular updates on the Real Estate Market and events in Tucson, AZ.

Questions about the Tucson Real Estate Market or Tucson Homes for Sale? Call Us - 520 940 4541 OR complete the - CONTACT FORM - and we will get right back to you!

Back to – HOW TO BUY A HOUSE IN ARIZONA

Home Insurance Extended vs Guaranteed Replacement Coverage

Know The Coverage You Need

Get The Right Home Insurance and Keep It Current

Are you thinking about buying a home in Tucson, Arizona? If so, then you’re about to make a very smart decision. But don’t forget about home insurance. You will need your home insurance to be enforce before you close on your new home.

Tucson, after all, boasts not only of a combination of big-city amenities and natural beauty but also a climate that’s close to perfect for most of the year.

Even it’s particularly intense and practically humidity-free summers are so much better than those in other states.

When you finally have a home in Tucson, one of the first things you have to do is insure it. If you acquired your home through a mortgage, then you will already have taken out a home insurance policy because lenders require it.

If you paid cash for your home, you should be getting homeowners insurance just the same. While many homeowners see it as just an option, home insurance coverage brings so many benefits that it should be a necessity for anyone who owns a home.

Getting home insurance requires a bit of research on your part.

Aside from finding out the best home insurance policy for your needs, you might also want to check out which insurance carrier can offer you extended or guaranteed replacement coverage.

Why Get Extended or Guaranteed Replacement Coverage?

With homeowners’ insurance coverage, your Tucson home will have protection in case of damage caused by certain disasters, among other things.

However, if you choose to insure your home for the purchase amount, you’re likely going to spend a lot of money out of pocket to rebuild in the event you suffer a total loss after a disaster such as a fire.

Let’s say you purchased your home for $230,000 and opted for a home insurance coverage of the same amount. When disaster strikes a few years later, the insurance amount will no longer be enough, because the cost of rebuilding your home will have risen to, say, $270,000 if you factor in inflation, market volatility, and the current cost of building materials and labor.

That means you will have to shell out $40,000 out of pocket so that you can restore your home to the way it was.

None of this will happen if you opt for extended or guaranteed replacement coverage.

Extended Replacement Coverage

The beauty of getting extended replacement coverage on your homeowner’s insurance is that you would be reimbursed for a specific percentage above the limit specified in your policy.

Typically, insurers that offer extended replacement coverage pay out an extra 25% or even 50% over the dollar amount you insured your home for at the onset.

So, in the event the home you acquired years ago for $230,000 is razed by a fire today, your extended replacement coverage will be able to foot the resulting $270,000 bill for its restoration.

Guaranteed Replacement Coverage

As an add-on to your homeowner’s insurance policy, extended replacement coverage already offers impressive benefits. However, it still doesn’t compare with guaranteed replacement coverage in that regard.

No matter how you look at it, guaranteed replacement coverage takes home insurance to an entirely different level.
With guaranteed replacement coverage, there’s virtually no cap on the amount your insurance provider will pay to rebuild your home.

Even if your $230,000 home costs $400,000 to restore to the way it was before the disaster struck, your insurer will cover everything, right down to the last dollar.

Guaranteed replacement coverage provides the most protection for your home, making it the best possible option to go for when purchasing home insurance.

Of course, getting either extended replacement coverage or guaranteed replacement coverage means steeper premiums. Insurance companies that offer either option are also hard to come by.

But if you have the budget to spare for such add-ons and you get to talk to an insurer that does offer them, then go ahead and get the most excellent financial cushion you can hope to get for your home. It will all be worth it.

And by the way, should you be considering renovating an older home consider “Ordinance Coverage Or Law Insurance“.

Considering A Home In Tucson, AZ?

Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.

We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor duo, we invest the time to understand your home buying interests and desires.

At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.

Why? We want you to know what to expect. And what to plan for. Including home insurance.

Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.

Review our profiles. Check out our backgrounds, education, and certifications.

We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. Our professional service backgrounds mean we put you first!

Thinking About Selling Your Home In The Greater Tucson Area?

Selling a home requires more than listing it in the Tucson MLS system. It’s about marketing. Marketing through multiple online channels.

To no one’s surprise, 80% of home buyers start their search on the internet. Homes must be visible on multiple internet channels. The more visible a home is, the faster it will sell.

And the photos on the mls make a difference. You can spend lots of money on home staging, but if the photos aren’t great it doesn’t matter. Staging and stunning photos make it all come together.

For luxury listings, our drone service provides video of your home and neighborhood. This video along with professional photos helps the online buyer see and feel your home. Their “new” home.

To learn more about how we can help you sell your Tucson home, call us – 520-940-4541 – to arrange a meeting. We will visit your home and prepare a comparative market analysis.

Then we will meet with you to review our analysis. We will go over our Comparative Market Analysis for your home in detail. And the review our marketing program to “get your home sold!”

Conclusion

Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson. Our clients tell us that.

Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.

We are ready to answer your questions and help you get the information you are looking for.

We are a top Realtor team in Tucson, AZ since 2002. Take a few minutes to read our profiles and client testimonials.

Are we the Tucson Realtors you have been looking for?

Sign UP to receive daily HOME TRACKER UPDATES - OR - Our Monthly NEWSLETTER. And get regular updates on the Real Estate Market and events in Tucson, AZ.

Questions about the Tucson Real Estate Market or Tucson Homes for Sale? Call Us - 520 940 4541 OR complete the - CONTACT FORM - and we will get right back to you!

Back to – HOW TO BUY A HOUSE IN ARIZONA

Buying A New Home

5 Important Things You Need to Know

New Construction is Different

Buying a new home is different from buying a resale from the current owner. How much different will depend on where you start.

A big benefit for a new built home is NO Updating! Everything is new and in working order and backed by the manufacturer’s warranty.

This pristine condition extends to cosmetic details as well.

A new home won’t have any scratches, dents, dings, or stains in the walls, trim, floors, appliances, or fixtures. You get to put them there yourself.

On the downside, Landscaping, window treatments and paint are on YOUR DIME!

Also, some new home builders allow you to make some design decisions to suit your personal tastes. Of course, these “upgrades” add to the price of the home.

Buying a new home can be as easy as walking into a recently built home the builder has in their “inventory”. Builders usually want to sell these as soon as possible.

So, if you like the home as built you may have a quick and easy deal.

Standard – Semi Custom – Custom

Building a new home on an vacant lot is a little different. Now you not only need to choose a floor plan, choosing options and upgrades become a big part of the process.

If you are building a custom home, you should plan on even more steps, more time, more choices and more money.

For those using a mortgage to buy a new home, get pre-approved before you start looking. Understanding the amount, you can borrow will help you make the better choices along the way.

And don’t forget the extras! Landscaping, window treatments, potential property taxes and HOA dues are just a few. The builder will usually provide minimal landscaping in the front of the home. The backyard landscaping is usually the buyer’s responsibility.

Here are 5 important things to consider when buying a new home.

1 – When Buying a New Home Always Look Before You Leap

Nothing beats the feeling of building a new home. Everything is new. No dust, no scratches, nothing to “re-do”.

Although straight forward, building a new home aren’t for everyone. Take a hard look at your specific situation. If you are buying a “spec” home or having one built in a new subdivision, as yourself;

How far away is the new subdivision from work, the city center and activities you want to do?
Will you mind the commute if it is necessary?
How long will it take to finish the new subdivision?
Does the cookie cutter nature of a new subdivisions bother you?
Do you mind the potential closeness of homes and potential lack of privacy?
Do the amenities of the new subdivision meet your interests?

2 – Explore New Home Subdivisions and Builders

When building a new home, consider using a real estate agent to work with. The agent will be your advocate though out the entire process. When selecting a real estate agent, remember

The new home sales office agent works for the builder and NOT you.
The sales agent is trying to sell a new home, not help you make the better decision for you and your family.
As soon as you select a Realtor to work with, tell them you are buying new construction.
Your real estate agent must go with you on your first visit to any new home sales office and register you.
Using a Realtor does NOT cost you any more. Builders want Realtors to bring them buyers.
Work with your real estate agent to research new subdivisions and homes for you.
Drive around the neighborhood and check out the amenities and the quality of the homes.
Visit the model homes.
Take notes and photographs to help you remember what you saw.
Ask if there will be a homeowners’ association (HOA). HOA fees and rules will vary quite a lot.
Are you willing to wait for the subdivision to be “built out”?
Ask your agent about shopping and amenities in the area.

3 – When Buying a New Home Understand What’s Standard and What’s Extra

Amenities are features that benefit the entire community. This would include items such as a clubhouse, health and fitness center or a gated entrance.

Upgrades refer to features or items you will need to pay extra for to enhance your home. This includes flooring options, appliances, lighting options and oversize windows or sliding doors.

Get the feature sheet for the homes you’re interested in. Read them and compare feature to feature between builders. Find out what comes with the base home price. Your Realtor will help you in doing this.

If you don’t understand exactly what the builder is offering, ask! Take notes that include date, time and who said what. There are no dumb questions. Not knowing can cost you money.

Some other things to keep in mind:

Builders want you to make a lot on upgrades. But it may be better to buy the “standard” items and do the upgrade yourself after you close on the home.
When haggling over price, consider asking the builder to “throw in” some upgrades.
They want to sell homes at the published price.
They might consider lot premium discounts and upgrades to sweeten the deal for a buyer.

4 – Even Though You Are Buying a New Home Have the Home Inspected

Most home builders don’t want the buyer doing inspections as they are building a home. Try to negotiate them into the contract. You don’t know what is behind the walls after the dry wall is up. You, the buyer, will pay for the inspector, but its worth it.

We always recommend to our clients have inspections done. It is amazing what the inspectors uncovered. Broken trusses, nails in electrical wires, nails in water pipes, and disconnected electrical wiring. Things you don’t see “behind the walls”.

Have the home inspected at each phase of building. After the foundation slab. Before dry walling. Times when potential problems are easy to spot. If the builder objects to this, consider it a red flag.

When buying new construction, builders provide various warranties on their work. Warranties will run from one to ten years. Appliances will come with manufacturers warranties. Review the warranty you receive to understand what is and isn’t covered.

5 – Consider Using the Builder’s Preferred Lender When Buying a New Home

Builders often have “in house” mortgage lenders or relationships to an outside lender. Using a builder’s preferred lender isn’t required, but it may save you money.

Also, contact two or three mortgage lenders for quotes. Understanding the “trade-offs” will help you in the long run. Ask your Realtor for some suggest lender contacts.

And One More Thing

8 Things to Know BEFORE You Enter the New Home Builders Sales Office

It is important for you to understand

You have the right to be represented by a Realtor when buying a new construction home.
BUT your Realtor MUST be with you on your FIRST visit to the new home builder’s sales office and register you!
You will not pay more to have a Realtor represent you when buying a new construction home in Tucson, AZ.

If you don’t have a Realtor with you on your first visit – KNOW THIS

The sales agent at the builder’s sales office works for the builder, NOT YOU!
They will ask you to “register” when you come in – or shortly after.
If you register, you are GIVING UP YOUR RIGHT to be represented by a Realtor at that builder’s site in the future.
Chances are the builder’s sales agent WILL NOT disclose this to you!
If you register at the builder’s site, you are on your own to work through the builder’s contract and all purchase-related decisions. Yes, the builder’s sales agent will help you with the paperwork. They will answer your questions. BUT with who in mind? You or the builder they work for? Will they tell you there are homes listed for sale with the floor plan you want at less than it will cost you to build it?

We Know the New Home Construction Process

Building a new home will have its challenges. Choosing the RIGHT Realtor to work with when buying a new home will make the process easier.

Tucson AZ has many new home subdivisions under construction at any one time. Take a look at the subdivisions, floor plans and inventory home available – HERE!

If you want to buy a new home or see any of the MLS listings in Tucson AZ, we can help!

Conclusion

Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson. Our clients tell us that.

Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.

We are ready to answer your questions and help you get the information you are looking for.

We are a top Realtor team in Tucson, AZ since 2002. Take a few minutes to read our profiles and client testimonials.

Are we the Tucson Realtors you have been looking for?

Sign UP to receive daily HOME TRACKER UPDATES - OR - Our Monthly NEWSLETTER. And get regular updates on the Real Estate Market and events in Tucson, AZ.

Questions about the Tucson Real Estate Market or Tucson Homes for Sale? Call Us - 520 940 4541 OR complete the - CONTACT FORM - and we will get right back to you!

Back to – HOW TO BUY A HOUSE IN ARIZONA

Questions To Ask When Buying Home Insurance

Essential Questions You Need To Ask When Buying Home Insurance

There are many advantages to buying a home in Tucson, Arizona. One big one is you’ll get the opportunity to live in a city with a cost of living that’s lower than the national average.

Add to that its many big-city amenities, stunning natural beauty, and relatively comfortable climate, and it would be safe to say that buying a Tucson home would be one of the best decisions you’ll ever make in life.

When buying a home in Tucson, you need to seriously consider buying home insurance as well. While no law requires that you insure your home, having homeowners insurance is far better than not having the coverage it provides.

As with all significant investments, you will need to ask your insurance agent several questions about homeowners insurance before proceeding with the purchase. Here are some of the crucial questions you need to ask when buying home insurance.

What will my home insurance policy cover?

Your policy will pay for any damage to your home’s physical structure caused by fire, windstorms, explosions, hailstorms, smoke, lightning strikes, water, vandalism, riots, and other covered perils.

In the event your personal belongings inside your home are damaged or lost due to the covered perils mentioned above as well as theft, your home insurance policy will pay for their repair or replacement.

A standard homeowners insurance policy will also provide you liability protection if a person suffers an injury within your property. Whether it’s a dog bite or a slip and fall case, your policy will take care of the medical, legal, and other costs of a liability claim against you.

Another distinct feature of a home insurance policy is ALE or Additional Living Expenses coverage, which will kick in if the damage caused by a covered peril forces you and your family to stay at a hotel or elsewhere. ALE will cover your hotel, food, transportation, and other necessary living expenses.

What about my garage?

Aside from your primary dwelling, a standard homeowner insurance policy will also pay for any damage caused by a covered peril to your garage, backyard shed, and other structures within your property.

Will my policy help if an earthquake or flood damages my home?

Unfortunately, a standard home insurance policy does not cover damage caused by floods and earthquakes. The same goes for power failure, intentional damage or loss, war, a nuclear explosion, and neglect.

If your home is located in an area that’s prone to flooding or earthquakes, you may want to consider buying separate coverage for them.

What can affect my home insurance rates?

The cost of your home insurance policy will depend on several factors, including the following:

The State where your home is—Home insurance rates vary from state to state.
Your home’s physical location—Your premiums will tend to be higher if your home is located in an area regarded as unsafe.
Your credit score—Insurers typically offer people with good credit scores better rates, even discounts.
Your deductible—The higher your deductible—the amount you’re willing to pay upfront when filing a claim—the lower your rates will be.
Your dog’s breed—Pit bulls, Rottweilers, and other reputedly aggressive breeds could send your rates skyrocketing.
Your home’s construction—Homes made of sturdy materials like brick can command lower premiums, while termite-prone wooden houses are often assessed higher rates.
The presence of risk factors at home—Homes with swimming pools, trampolines, and wood-fired stoves tend to elicit uncertainty among insurers, leading directly to higher premiums.
Your home’s age—Aging homes have an aging structure, plumbing, and electrical wiring, all of which could prompt higher home insurance rates.

What are actual cash value and replacement cost all about?

Actual cash value means you will be paid an amount equal to the depreciated value of your damaged or lost property.

On the other hand, replacement cost guarantees compensation equal to the amount needed to replace the property that was damaged or lost.

Whether you will be compensated for actual cash value or replacement cost will depend on what’s stated in your policy.

These are just a few of the questions you need to ask before buying home insurance.

Think up some more questions and ask them as you see fit to help you make the right decision on the matter.en Buying Home Insurance.

The Above Guest Article Provided by Rachael Harper <rharper@bennettandporter.com>