• Real Estate
    Pros and cons of owning a pre-owned mobile home

    Purchasing a pre-owned mobile home for sale may feel like an excellent investment opportunity at first glance. But before you go ahead with the deal, there are quite a few factors that you should consider when it comes to such transactions. So, to make sure you’ve made an informed decision, we’ve listed down some of the pros and cons of getting a pre-owned mobile home for sale.

    Pros
    These factors make getting a pre-owned mobile home for sale a lot more appealing.

    • Affordable for first-time buyers
      A mobile home is certainly a very affordable investment as compared to a home that is affixed to a piece of land (equity). It is the ideal low-income housing option. It is also ideal for single individuals who are not planning to start a family of their own anytime soon.
    • Great alternative for office space
      There is a growing trend of small businesses using mobile homes as offices. So, if you have a private business and are low on budget, a large mobile home can serve the purpose of working with a small staff.
    • Cheaper than a normal home
      Purchasing a pre-owned mobile home for sale turns out to be much cheaper than buying a mobile home that has not been owned before. This helps with your lowered building costs in case of financial strain. Moreover, as per housing and real estate investors, homebuyers can enjoy nearly 20% savings on pre-owned mobile housing costs.

    Cons
    As we mentioned earlier, a pre-owned mobile home for sale does sound like a good deal, but these reasons may urge you to think otherwise.

    • Temporary housing
      As a pre-owned mobile home for sale does not come attached to the land, its temporary nature may not be suitable for some. It does not have permanent standing bases, groundwork, or foundations. This may increase the risk of damage during rough weather conditions like floods, storms, and the like.
    • Faulty features or fixtures
      The reason many sellers give a pre-owned mobile home for sale could be due to faulty fixtures and features that come with that home. So, the onus is on the buyer to thoroughly inspect the mobile home so that they do not make a bad deal because the seller has wrongfully not disclosed certain negative aspects of the home.
    • Separate land costs
      In a traditional transaction, the home and land are sold in a single lot. But in the case of a pre-owned mobile home for sale, the land cost is on top of the price of the mobile house that you may purchase later on. You may have to incur real estate expenditures and costs for improvements to the land.

    Keeping these pros and cons in mind will help you find the right pre-owned mobile home for sale.

  • insurance
    Reasons to get a home warranty insurance plan

    Buying a house in this day and age is quite expensive. To the point, it’ll leave you broke. But, that does not mean that maintaining it should burn another hole in your wallet. 

    So, the question that now begs an answer is – do you need home insurance or home warranty insurance? And what is the difference between the two? Fret not, we have these questions covered.

    Home insurance covers the structure of your home and protects you from damages, theft and at times may extend coverage to medical expenses that occur on the property. Home Warranty Insurance protects the internal elements such as the systems and appliances of your home. 

    If you’re still unconvinced about the amazing advantages of home warranty insurance, here are more reasons why you should opt for it: 

    • Cost-effective

    The cost of repair or replacement of any household appliance is anywhere between $6000 to $14000. But, if you had a home warranty insurance plan, it’d get replaced with no hassle. 

    • Covers pretty much all major appliances and systems

    From your heating and cooling systems to all the major appliances, the warranty covers it all. 

    • Get that sweet peace of mind

    All that stress of going through the yellow pages, finding one contractor that suits your needs, getting quotations, all that gets thrown out the window when you have a home warranty insurance plan. 

    Now, if these options have you convinced on why it’s absolutely necessary to get a warranty, let’s see when is the right time to get home warranty insurance coverage? You can get one when:

    • You want to sell, rent or purchase a house
      When you put your house on the market, you should opt for home warranty insurance plans. This assures the new home buyers that they won’t face any major bills once the purchase is complete.
    • Your house hits the 5-year mark
      Well, once your house completes five years, you’re likely to experience more issues and repairs. So, if you do not have that kind of financial cushioning or if you’re not into DIY projects, warranty is a must-have. 

    So, how do you pick a service provider?

    It’s important to remember, that the services you receive will be based on the premium you’re willing to shell out. Also, select the provider based on customer reviews and their reputation. 

  • insurance
    3 commonly-asked questions about home warranty insurance plans

    Owning a home comes with several unexpected expenditures, which are not always covered by your homeowners’ insurance. In such cases, it proves handy to opt for a home warranty insurance plan, which is designed to cover what your homeowners’ insurance doesn’t. A home warranty insurance plan is considered to be the foil to your home insurance when the certain perils that wreaked havoc on your home—water damage, earthquake, floods, or mold—are not covered by your home warranty insurance. 

    Here are certain things you should know about home warranty insurance plans that will help you arrive at an informed decision.

    How is a home warranty insurance plan different from homeowners’ insurance?

    For starters, homeowners’ insurance covers damages that are caused by certain defined perils, such as straight-line winds, fire, burglary, hail, and other property claims. It even covers certain types of water damage. However, homeowners’ insurance doesn’t cover the expenses that are associated with appliances or home system failures unless these failures are caused by the said peril.

    Home warranty insurance, on the other hand, covers things that aren’t covered by homeowners’ insurance. These are essentially service contracts that pay for the cost of repairs or replacement of appliances, built-in appliances such as heating and air conditioning, and plumbing, when they cease to function. It typically costs around $250-$500 annually but can run closer to $1,000 depending on what plan you choose. 

    How does home warranty insurance plan work?

    A home warranty insurance plan works in a similar fashion as the product warranty for any appliance you might have purchased. When you opt for a home warranty insurance plan, the company pays for the repairs and replacement of the specific components of your home which are included in the policy, such as your HVAC system, furnace or boiler. You will have to pay an annual fee which is used for dispatching a contractor to your house for repairs whenever a problem arises. 

    What factors are covered by a home warranty insurance plan?

    It is essential for you to know that home warranty companies tend to offer several tiers of coverage, and these are some of the common things that are covered:

    • Basic coverage includes the cost of plumbing systems, dishwashers, oven ranges, garbage disposal, exhaust or ceiling fans, sump pump and water heaters, built-in microwaves or tubs, and heating and electrical systems. 
    • If you opt for enhanced coverage, it would include central air, clothing washers and dryers, refrigerators, and garage door openers. These items would be covered if you pay its additional charges.
    • You can even choose from the optional warranty coverage, such as well pumps, pools and spas, standalone freezers, septic systems, and central vacuums. 

    Before you decide on a home warranty insurance plan, ensure that you shop around for it.

  • insurance
    Top 3 home warranty insurance providers

    Homeowner’s coverage is a prudent solution to protect your home from unforeseen damages; however, it’s crucial to note that this doesn’t include the repair of home systems and appliances. This inconvenience might result in you spending hundreds of dollars even on a small repair. A viable solution to this quandary is a home warranty insurance as it covers repairs and replacements for home systems and a variety of home appliances.

    Interested? We thought so! To help you get started, we’ve chosen this year’s best providers offering top home warranty insurance plans and quotes. Have a look.

    American Home Shield
    Looking for customized service? Then you should check out home warranty insurance plans and quotes by America Home Shield. Their “Build Your Own Plan” option allows you to personalize coverage by giving you an option of selecting 21 systems and appliances. And you can add optional coverage for septic system plumbing, septic sewage ejector pump, well pump, and pool and in-ground spa equipment. But if you want to stick to the standard packages, America Home Shield offers a Systems Plan, an Appliances Plan, as well as a Combo Plan.

    AFC Home Club
    If you’re looking for a home warranty provider that lets you choose your own repair technician and offers a lifetime workmanship guarantee, then you must check out home warranty insurance plans and quotes by AFC Club. All their plans are furnished with ID protection, credit monitoring, and an emergency alert network. They also have an in-house service team including highly trained sales representatives and claims executives. The annual plan cost ranges between $350 and $600.

    First American Home Warranty
    If low fees are a priority, then First American Home Warranty is a fitting choice. Currently, they only offer two plans: Basic and Premier. The latter makes more sense if you wish to protect repair costs pertaining to heating, electrical, and plumbing systems. While they don’t cover pre-existing problems, they will replace items that can’t be repaired irrespective of their age, make, and model. Furthermore, the company renders 24/7 support and has a massive network of independent contractors and qualified technicians that are vetted properly. You can protect your home for as little as $28 per month.

    To know more about home warranty insurance plans and quotes, please visit the official sites of the abovementioned providers

  • insurance
    Tips to get the best home warranty insurance quotes online

    Before we begin, you must understand that home warranty insurance and homeowner’s insurance aren’t the same. A warranty is merely a service contract between you and the insurer to cover home repairs and replacements for basic appliances and systems. Home warranty companies only cover damages to your appliances and systems, but you will still be liable to damages that have been caused on account of misconduct. Homeowners insurance provides complete cover for damages, replacements, and even personal liability on account of any damages. Here are a few tips to help you get the best home warranty ins plans quotes online.

    Check accreditation
    One of the foremost factors to consider includes the Better Business Bureau (BBB) rating and accreditation. The BBB certification implies that the company adheres to the business standards set forth by the governing authority. So, ensure you compare home warranty ins plans quotes among those companies that have an A+ accreditation and have been providing insurance services for quite some time.

    Check State regulations for warranties
    There is no one uniform regulatory authority as home warranty companies in all 50 states are governed by their respective state laws. For example, not all states require the insurance provider to register their services with the Commissioner of Insurance. Note that State regulations impact the quality of warranty provided by the companies.

    Be aware of coverage rules
    Home warranty provides a limited cover for select home appliances and systems. So, you must double check to confirm that the plan you choose covers mostly everything. There is absolutely no point in paying a premium for vendors who cannot provide substantial cover for damages and replacements. Also verify and understand the claims process after you choose a plan. Quicker the claims and reimbursement disbursal, better will be the insurance company.

    Calculate cost of home warranty
    It all ultimately comes down to how much you are willing to spend. You will be able to set a budget only after narrowing down the number of appliances and systems that you want to include in the warranty cover. Several factors constitute the cost of the insurance plan apart from the premium and deductibles.

    Here are some of the popular home warranty insurance plans and quotes you can get online

    • American Residential Warranty
      Best overall service provider for home warranty
    • AFC Home Club
      Brings you the flexible plans
    • American Home Shield
      Gives you better coverage options
    • Amazon Home Warranty
      Top BBB-accredited service provider
  • Personal Finance
    4 handy tips for first-time buyers

    Buying a house is one of the most expensive deals of your life, and the first time is always a memorable experience. Moreover, the process of home buying can get stressful, but keeping a few tips handy can be great for first-time home buyers.

    Read on to know four useful tips before buying your first home.

    Plan out a budget and stick to it

    First-time home buyers require a lot of research and planning. Budget, the most essential part of the entire process, makes planning even more important. Know what you can afford and how you want to go about with the financing.

    Plan and calculate the entire payment, check out online calculators, research about various loans for first-time home buyers, and ensure that you do not miss out on any payment essentials.

    Consult an experienced realtor

    A realtor can either make or break your deal of buying your first home. An experienced realtor will have contacts of real estate attorneys and loan officers and can also guide you throughout the process of buying the property.

    As per the statistics of the National Association of Realtors, nearly 50% buyers found their realtor from a personal referral. So, it is advisable to start asking for references from your family and friends, as recommendations always help.

    Moreover, you can always check out real estate websites such as Zillow, Streeteasy, and Trulia, to name a few.

    Compare the apartments in the area

    Comparison will always help you get a better look at the choices you have. There are numerous real estate websites that can help you research various homes, depending on custom searches such as the location, budget, number of rooms, and property type, among others. By comparing the apartments, you can also read reviews of the location or area to get a better understanding of the neighborhood. Moreover, the comparing will help you sort the budget as well, giving you various alternatives.

    List out the non-negotiables

    Before you delve going ahead and buying your first home, it is advisable to list down the non-negotiables. One should know and figure out which things would enhance their well-being, and which won’t. So, making a list of things that you would want in your apartment would also help your realtor know about your specific preferences. From square footage to location and amenities, pen down the must-haves in your future home.

    One of the best ways of gauging your options is to visit the apartments or houses in your preferred area and shortlist the ones that suit your preferences. Knowing what your preferences are can also help you settle on a budget.

    You should also reevaluate your list of essentials and keep adding or subtracting what you would want and what you wouldn’t in your first home.

  • Real Estate
    Tips to avoid scams while selling a timeshare

    Selling your timeshare can be a smart move if it no longer serves its purpose as a vacation home. However, selling a timeshare can be a problematic process because it is not considered a real estate investment as it depreciates in value. Are you wondering how to sell your timeshare then? If you haven’t received any worthwhile responses through advertisements, you can hire services from a timeshare resale company. There’s one catch thoughthere are numerous unscrupulous businesses which can scam unsuspecting timeshare owners. To avoid falling prey to such fraudulent activities, look for the following warning signs mentioned below.

    • Cold calls – Untrustworthy timeshare resale firms will often use the cold call tactics via phone or mail. Therefore, if you haven’t initiated the contact, avoid communicating with such unsolicited services.
    • Guaranteed sale – As a timeshare is an unconventional real estate option, it is not popular among the masses which implies that its sale can’t be guaranteed. Therefore, if any company makes tall claims of guaranteed sales, don’t hire their services.
    • Contact details – In the recent years, fraudsters have adopted a different tactic of setting up fake mail addresses and websites to lure timeshare owners. To verify their contact, try visiting their office or run a thorough check of them online. Lack of relevant information or using Yahoo or Gmail instead of company mail are some red flags that you should look for.
    • Written contract – It is extremely important that whatever transactions or agreement you have decided upon are provided in writing. If the resale company seems reluctant to draft a proper paperwork, then you should definitely pass their offers.
    • Information protection – You might be expected to provide some sensitive details and make a few payments via credit or wire transfer. Therefore, ensure that you ask how the company plans to secure your data and if they provide a copy of all the transactions exchanged.
    • Fees – If the timeshare resale company states that they have a buyer waiting but the process will only move forward if a closing or transfer fee is paid first, then immediately bail out of such offer. Usually, such fees are required to be paid after the timeshare deal is finalized, i.e., on paper.

    Once you have figured how you can sell your timeshare with the help of a resale company, ensure that they help you price it right. Moreover, the transfer of timeshare ownership also involves multiple legal requirements. Therefore, pay close attention to the contract drafted, deed to the timeshare, real estate taxes, and documentation mandated according to the concerned state.