What I like best about Sun City is that it is affordable. For $432 per year a homeowner gets full use of the seven recreation centers and eight golf courses. There are also three country clubs, 2 bowling centers and 2 small lakes. The golf courses are laid out in narrow “fingers” so that there is an abundance of reasonably priced homes on golf course lots. The homes are currently in transition with many being updated to the tastes of the younger owners. There still is an abundance of colored gravel in the yards which passes for desert landscaping and you see the occasional gnome, windmill, flamingo, and painted yard art that can only be described as “kitschy”. There are also what are called Twin homes or Gemini homes that are basically 2 attached homes in the same building. These are many times more affordable than the single family detached homes and many homes start under $100K.

Sun City is a self contained little city of about 40,000 and has it’s own hospital and medical complexes. Every activity, social group, craft group and hobby group exist in this little city. It is one of the only places where golf carts travel the roadways along with the cars. Recent growth in the northwest Valley make this area close to stadiums, museums, zoos, and shopping.

Another way to check out a community is to see if they offer any short term stay opportunities.  I recently took advantage of a program at my favorite active adult community, Trilogy at Vistancia, called Taste of Trilogy.  

Shea Homes started the Trilogy concept and they have Trilogy developments in popular retirement areas (AZ, NV, FL, CA and WA).  They have developed the Taste of Trilogy program so you can experience what living there is actually like.   For $200 I received a 2 night stay at one of their homes, 2 hour long treatments at their spa, $100 to spend at the golf club restaurant and 2 bikes and a golf cart to get around in.  It was a great opportunity to see what was going on in the community.  I happened to be there on a Tuesday night which is happy hour night in the community center so there were specials on food and a wide variety of drinks.  We happened to have a rare Arizona rainstorm that night so I thought it would deter most of the local residents from coming over but the place was packed.  It was a great turnout for the middle of the summer in a rainstorm.  They were selling tickets for an upcoming wine tasting, a play and a trip in the lobby so it was easy to get a feel for who lives there and what events were coming up.  It is a weekly event that seems to draw a lot of people in the community and was a great way to meet people and socialize.  

Other active adult communities that are selling new homes may have similar programs.  To view other Trilogy communities and to learn more about their “test drive” go to www.trilogylife.com.

I’m a Baby Boomer.  So are 76 million other people. On January 1^st , 2011 the first Baby Boomers started to turn 65.  Every day more than 10,000 of us will reach the age of 65 and that will keep happening every day for the next 19 years.  As we retire about 55% of us say we will move.  For those moving to the metro Phoenix area, I want to give an overview of some of the active adult communities we have available and my personal take on each one. Each article will deal with a different community.

My personal favorite is Trilogy at Vistancia. It is located in the northwestern part of the metro area, close to Lake Pleasant.  It is part of a master planned community called Vistancia which includes Blackstone Country Club, many developments geared for families with children and then Trilogy is for ages 55 and up.  I has a much younger demographic than most of the long established 55+ communities and is definitely geared to appeal to retiring Boomers. This is a Shea Homes concept that has been developed in many areas along the west coast.  What I love about this community is that it is nestled in an area surrounded by mountains and has amenities that make you feel like you are living at a first class resort.

The center overlooks a beautiful golf course and boasts an indoor lap pool, huge outdoor pool and spa area, exercise area with personal trainers, yoga and spinning room, and a spa on premises where you can book your massage or facial.  It also has every club in the book and rooms where the clubs meet and even an education and computer center.  So if you want to meet other people with similar interests, join the wine club, the art club, the Texas Hold’Em club, the hiking club, or any of the other multitude of clubs they have available.

The homes are beautiful with choices of Tuscan, Santa Barbara, and many other design styles. All are one story homes and range from 1300 sq ft to around 3000 sq ft so there is a size for everyone.  The pricing for resales currently ranges from $200K to $700K.  As a Realtor it amazes me what great homes my clients have been able to get for the prices they paid.  Everyone knows that Arizona prices have tanked in the last 6 years and we are now down to prices that haven’t been seen the 90’s.  That is terrible for all of us already living here as the equity in our homes has evaporated, but it is great for anyone buying at this time.  I also like the fact that there is retail right at Vistancia so your grocery store, bank, wine store, dry cleaners is two minutes away.  Also, just down the road is every big box store you will ever need so you can stay within a 10 minute radius of home and have everything available to you.  Then when you want to go to a ballgame, theatre, dinner, etc.  you can drive wherever you want in the Valley as highway 101 and 303 are easily accessible from there. To view the amenities at Trilogy at Vistancia, one of the Valley’s premier active adult communities just click here.

HOW TO SELL YOUR HOME!

1. Rent a storage unit – You need to make your home feel as spacious as possible so that people can envision how much space there will be for their possessions.  You will need to pack for the move anyway, so think of it as getting a jump on the move. You will probably need to pack or get rid of about 25% to 50% of the items in your home. Pack up all valuables, collections, personal items, clothes you do not need in the next few months, toys, seasonal items etc.  Haul all of these boxes to the storage facility along with any furniture that you want to save but doesn’t enhance the look of the home.
2. Curb appeal 101 –The initial impression of the front of the home sets the tone for what buyers believe they will see inside.  Paint the outside of your home a current color.  Visit new home developments to see what is popular in your area.
3. First Impressions Count - You never have a second chance to make a great first impression.  They say that buyers judge a home within the first 15 seconds of walking through the front door.  Will buyers fall in love with your home in that 15 seconds or will it leave a bad feeling that may not be corrected no matter how good the other rooms are.
4. Clean, Clean, Clean – Have a professional cleaning crew thoroughly clean the house after you have packed up and hauled off the excess belongings.  Have the carpets, windows, and grout cleaned.  Many companies will do all 3 at one time
5. Adjust your attitude – It is no longer “your home”.  It is now a house for sale.  You must “detail” your home the way you would “detail” a car you have for sale.  The way you sell a home is different from the way you live in a home.  It is temporary.  The faster the home sells the faster you be able to find your new “home” and make it fit your personal lifestyle. Try to not be sentimental about what you need to do or how you need to change the home to sell it.
6. Depersonalize your home – You need your home to appeal to the masses.  You want as many people as possible to envision what they could do with “their home”.  Pack away all family pictures, mementos, collections, anything that will distract people from viewing the home as theirs.  Buyers will spend time looking at the wedding photos, the grand kids, or the clock collection and that means they are not looking at the home! You want a neutral palette so they can envision what they will do with the house.
7. Sell – Give away – Throw away – Now is the time to get rid of anything you don’t need in your new home.  Invite kids, friends, or relatives to take the items you don’t want.  It feels good to pass it on to someone who will appreciate it.  If items are expensive you can take them to a consignment shop. Hold a garage sale or call Goodwill but now is the time to get rid of it.
8. Have only one purpose per room – Don’t make rooms a combo office/bedroom or exercise room/bedroom.  It makes the home look as if there isn’t enough room for everything they will want to do.  Bedrooms sell better than an office or exercise room so if you have the beds turn it into a bedroom first.  Store the exercise equipment or if you don’t use it, now is a good time to sell it or donate it.
9. Make an entrance – The front door is where the buyers will spend a few extra minutes as their Realtor unlocks the door.  The door should be freshly stained or painted with new hardware and lighting fixtures.  Pots of flowers at the front door such as red geraniums and a new welcome mat can give buyers that “welcome home” feeling.
10. Conquer clutter – Buy covered baskets to hide the last minute mess before your home is shown.  Under bed storage bins, magazine holders, rolling bins and similar organization tools can make the room feel more organized and less “messy.  Make sure bookshelves are not packed.  Empty space creates the feel that the home has plenty of storage space.
11. Less is more – Most homes have furniture that is either to large for the space or else they have lined every wall with furniture.  Your house will look much larger with minimal furniture.  Also consider placing furniture away from the walls to create good traffic flow and conversation areas.
12. Use sliders to move furniture around – They make moving furniture easy and allow you to slide everything around to see if there could be a better layout.  You can always move everything back if it doesn’t work and you may be surprised how much you enjoy your homes “new look”. You might even consider switching whole rooms around such as the dining room and family room.  Just because the chandelier is in one spot doesn’t mean it has to stay there.
13. Let the light in – Take down heavy draperies and replace with sheers that let more light in.  When your home is shown, make sure all lights are on and all window blinds open.  Homes that are dark are depressing and will never appeal to a buyer.
14. Keep the temperature comfortable -  This is especially true if you live in an area that is cold in the winter or hot in the summer.  People will not stay in a home long if they are freezing or sweating.  The goal is to make the home comfortable for them to stay as long as they want.
15. Do a “smell test” – Homes that smell, don’t sell.  It’s as simple as that.  Any pet odors, cigarette odors and smelly closets will kill the deal quickly.  Put odor-absorbing containers in closets and in places that will not be noticed.  I am sure you have all heard of the trick of baking cookies or lighting a scented candle when showing a home.  The reason is simple – it works!  People’s senses are an important part of the emotional component of buying a home.
16. Neutral colors are best – Painting is the cheapest thing you can do to brighten up your home and it’s one less job the buyers have to tackle themselves.  Today’s best neutral colors are in gold or taupe shades.  Gone are the days of painting everything “basic resale white”.  The off-white home is not appealing to today’s buyers.  Visit model homes in your area to see what is popular in the area that you live.
17. Paint it black – If you have older mismatched furniture or a yellow 70’s dining set, it can be given a new life by painting it black.  White furniture is also a tried and true lighter version of this concept.  Black can be a neutral yet dramatic look to add to the home and can update a piece in minutes.  Go for the impact, the drama, and the updated look a can of spray paint can provide.
18. Clean off the kitchen counters – Put away the toaster, the spice rack, and the blender.  Keep the counters clear with only one appliance such as the coffee pot and some fresh flowers or a bowl of fruit. People always complain about not having enough counter space in a kitchen so make your home appear to have plenty.  Consider a portable island if your home has the room, you can take it with you to your next home.
19. Fresh flowers and plant make the difference – Buyers don’t respond well to plastic flowers of dusty silk plants and arrangements.  Throw out the old and replace with a vase of fresh flowers or blooming plant on the table and live potted plants.  Raid your yard for any blooming branches or flowers you can find there.  Even a single rose in a bud vase by the sink adds a touch of elegance.
20. Finish those projects – Repairs can make a big difference in whether or not your home will sell.  Buyers will hire a professional inspector to check everything out before the close and if there are too many things wrong, it can kill the sale.  Consider hiring your own inspector before the home hits the market and then hire a professional to fix the leaky faucets, the broken tiles and all the other unfinished projects you never quite got around to.
21. Get rid of pests – Hire an exterminator to spray for bugs, check for termites and to make sure nothing is going to turn off potential buyers.  If you have any wasp nests or bees make sure you have this taken care of before buyers arrive.  Go around the outside of your home with a critical eye to see what the potential buyer might notice.
22. Pets – We love our pets. They are a part of our family.  Be aware that some buyers don’t want a home that has had animals in it.  Make sure there are no pet smells and try to hide beds, litter boxes, and food bowls when you have showings. Take the dog for a walk or see if the cats can visit a friend when you know potential buyers are coming over.
23. Bathrooms – Spotless! That is the goal here.  Keep the counters, sinks, and bathtub clean.  Have fresh towels hanging that no one uses so they are always perfect. Hide makeup, shampoo, and all your daily items in a bin that can be put under the sink or in the closet and brought out only when you need them. Create a spa-like feel by having a basket on the counter with towels tied with ribbons. Scented soaps, lotions and candles all add to the pampered feeling.  Think upscale boutique hotel.
24. Accessorize for the finishing touch – Now that your home has been pared down and is spotless it is time to add accessories to catch the eye.  Group accessories in odd numbers.  Three is the best with a high, medium and low height variance.  Group by color, shape, texture or theme.  Odd numbers like 5 and 7 can work well.  If you have a candleholder or vase on each side of the fireplace, that is good for balance and uniformity.  You may consider adding 2 other items to each side to make a grouping of three for more impact.
25. Ask an honest friend – Pick a friend with good taste and a discerning eye to walk through the house as a buyer and mention anything she sees that you may have overlooked.  A fresh pair of eyes can be a big help.

Living near a vacant home doesn’t have to mean putting up with overgrown grass and unshoveled snow. Does your community use these eight common local laws, programs, and regulations to force owners to maintain vacant homes?

With the foreclosure crisis, you may have noticed a vacant home or two on your block. Rather than see the home free-fall into disrepair, push local officials to take action before the untended house lowers the value of your own home.

Here’s a list of common vacant-home laws, rules, and programs. Call your local elected official’s office to find out what your community has in place and how you can get those laws enforced:
•    Special assessments charged to owners of vacant homes to cover the cost of added police and fire protection.
•    Mandatory fire, safety, or code inspections of vacant homes.
•    Laws forcing a foreclosing lender to maintain vacant homes during the foreclosure process—especially important in states where foreclosure takes a year or more.
•    Rules that let your local government make repairs to vacant homes and charge the owner for the work.
•    Vacant-home registries listing contact information for owners of vacant properties.
•    Housing courts that hear cases filed against owners of vacant homes.
•    Programs that transfer vacant homes to community development corporations, housing nonprofits, or government housing agencies.
•    Property codes that make owners of vacant homes secure their properties and add exterior lights.

Mariwyn Evans has spent 25 years writing about commercial and residential real estate. She’s the author of several books, including Opportunities in Real Estate Careers, as well as too many magazine articles to count.

Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

No one likes a ditty house, and your what “lived in” is to you might be someone else’s “messy.” When in doubt, clean. It’s the least expensive way to improve your home’s initial appeal, and it’s a good way to get a jump-start on your move.

Basic: The first thing you need to do is de-clutter. If your moving company offers storage, this is the time to use it. Extra furniture, oddball art, pots and pans that don’t fit in the kitchen—it all needs to go. Don’t go overboard—your house should still look like a home. It just needs to be airy enough for a buyer to put his or her mental imprint on it. Your hackey sack collection from college won’t help. Next up is a good, solid scrubbing. Spend a weekend washing the floors, baseboards, and bathrooms. Be sure to get the tops of cabinets and corners behind furniture. Clean every piece of glass in the building. Too many people ruin a pristine home with spotty mirrors and doors. Don’t forget the outside of the house. Hose down your exterior walls and driveway, trim the lawn and hedges, and remove any trash cans and clutter from sight. If your neighbors are less-than-tidy, you might want to offer them some free help, as well. And while you’re cleaning the garage, wash your cars, too. They make an impression.

All-Out: If you have money to spend, install space-saving storage solutions in the garage, kitchen, and bathroom to reduce clutter. Consider paying a service to do the deep cleaning you’re bound to miss. Rent a pressure washer for the driveway or (if it’s a real mess and you’re feeling generous), repave.

Fix

Part of the joy of buying a new home is starting with a clean slate. No one wants to buy an existing to-do list of nagging little fix-its. Making small fixes now can put the buyer’s mind at ease.

Basic: Focus on inexpensive, highly-visible problems. Doorbells, window glass, cabinet handles, and holes in walls are all easy to spot and cheap to fix.

All-Out: Take aim at long-term maintenance projects, such as pool pumps, water heaters, and air conditioning servicing. Buyers probably won’t notice these on their own, but your agent can call attention to these facts to help reduce worries about long-term costs.

Brighten

Buyers like to see what they’re viewing. Good lighting, vivid color, and a few visual cues can go a long way toward making your home a memorable one.

Basic: Repaint interior walls, particularly those in the bathroom, kitchen, and extremely bright areas. White walls are particularly important, as they get dingy quickly. Replace traditional incandescent light bulbs with compact fluorescents, which put brighter lights in your existing sockets while saving money. Tie back curtains to let in the maximum amount of sun, which makes a house look more inviting than artificial light. Spruce up empty or colorless zones with potted plants. They add character to a room, but are obviously disposable if a buyer dislikes them. Repaint your front door, mailbox, and any street numbers.

All-Out: Repainting the entire interior if it’s been more than a few years since the last paint job. Install additional lighting in cabinets and closets. Add new cabinet doors and counter tops.

What Not to Do

While you can certainly overspend on any of the above suggestions, their value is well-established. Making a home cleaner, better-functioning, and more attractive is a no-brainer. However, some improvements can go too far, and actually hurt your investment. As a general rule, don’t build for the sake of building. Bigger isn’t always better, and if you take a project too far, you risk going in a direction the buyer will have to undo. For example, adding an extra bedroom might seem like a great investment, but a retired couple may prefer to use that space to install a pool in the back yard. Upgrade the home you have, but don’t try to make it something else.

By Cormac Foster

Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers.

You’ve worked hard to get your home ready for sale and to price it properly. With any luck, offers will come quickly. You’ll need to review each carefully to determine its strengths and drawbacks and pick one to accept. Here’s a plan for evaluating offers.

1. Understand the process

All offers are negotiable, as your agent will tell you. When you receive an offer, you can accept it, reject it, or respond by asking that terms be modified, which is called making a counteroffer.

2. Set baselines

Decide in advance what terms are most important to you. For instance, if price is most important, you may need to be flexible on your closing date. Or if you want certainty that the transaction won’t fall apart because the buyer can’t get a mortgage, require a prequalified or cash buyer.

3. Create an offer review process

If you think your home will receive multiple offers, work with your agent to establish a time frame during which buyers must submit offers. That gives your agent time to market your home to as many potential buyers as possible, and you time to review all the offers you receive.

4. Don’t take offers personally

Selling your home can be emotional. But it’s simply a business transaction, and you should treat it that way. If your agent tells you a buyer complained that your kitchen is horribly outdated, justifying a lowball offer, don’t be offended. Consider it a sign the buyer is interested and understand that those comments are a negotiating tactic. Negotiate in kind.

5. Review every term

Carefully evaluate all the terms of each offer. Price is important, but so are other terms. Is the buyer asking for property or fixtures—such as appliances, furniture, or window treatments—to be included in the sale that you plan to take with you?

Is the amount of earnest money the buyer proposes to deposit toward the downpayment sufficient? The lower the earnest money, the less painful it will be for the buyer to forfeit those funds by walking away from the purchase if problems arise.

Have the buyers attached a prequalification or pre-approval letter, which means they’ve already been approved for financing? Or does the offer include a financing or other contingency? If so, the buyers can walk away from the deal if they can’t get a mortgage, and they’ll take their earnest money back, too. Are you comfortable with that uncertainty?

Is the buyer asking you to make concessions, like covering some closing costs? Are you willing, and can you afford to do that? Does the buyer’s proposed closing date mesh with your timeline?

With each factor, ask yourself: Is this a deal breaker, or can I compromise to achieve my ultimate goal of closing the sale?

6. Be creative

If you’ve received an unacceptable offer through your agent, ask questions to determine what’s most important to the buyer and see if you can meet that need. You may learn the buyer has to move quickly. That may allow you to stand firm on price but offer to close quickly. The key to successfully negotiating the sale is to remain flexible.

G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Over time, roofs sag, mortar cracks, and furnaces lose efficiency. Beyond this normal wear and tear, older homes can harbor mold, water damage, termites, or other structural threats that can cost tens of thousands of dollars to fix.

New homes need inspections, too

New or old, a house isn’t a car—you can’t just trade in a lemon. Regardless of its similarities to neighboring structures, every home is different. Each home is build by different hands, at different times, on different land, and each responds differently as it settles. A home inspection before purchase your new home can alert you to long-term risks, identify immediate problems your builder must fix, and help you get the most from your new home warranty before it expires.

There’s no such thing as a perfect home. Even if there were, it wouldn’t last long. Climate, material flaws, poor workmanship, and even gravity conspire to tear every home apart. Home maintenance is a necessary cost of home ownership, but homebuyers need to make smart decisions about acceptable costs. A home inspection is the most cost-effective way to go into a purchase with your eyes open.

What they won’t cover

When you schedule an inspection, have the inspector outline special conditions he or she does not cover. Lead, radon, asbestos, and other toxic substances are generally not covered, and may require an inspector with a special certification.

Inspecting the Inspector

Finding a good home inspector can take some work, but it’s worth it. When you’re comparing inspectors, remember TEN—Transparency, Experience, and Neutrality.

Transparency

There’s nothing magic about home inspection, and good inspectors will be completely forthcoming about what they look for, how, and why. If you don’t understand something, ask. Professional inspectors will always answer your question to your satisfaction. Ask to see the home inspection, or better yet—go along on the inspection. It’s your house, after all. If the inspector hedges, walk away. Don’t be shy. Your home is worth more than their pride.

Experience

Every home inspector should have references. Call them.

Neutrality

Inspectors work for you, not the agent, the owner, or a contractor. A well-established inspector will have worked with all sorts of real estate and construction professionals, but recommending those professionals is a conflict of interest.

Certifications

Not all states require certifications, and a certification doesn’t guarantee There are dozens of certification associations, but some of the older and larger include ASHI, the National Academy of Building Inspection Engineers, and the National Association of Home Inspectors.

by Cormac Foster

Here’s how to clean up your credit so you get the least-expensive home loan possible.

Getting the loan that suits your situation at the best possible price and terms makes homebuying easier and more affordable. Here are seven ways to boost your credit score so you can do just that.

1. Know your credit score

Credit scores range from 300 to 850, and the higher, the better. They’re based on whether you’ve paid personal loans, car loans, credit cards, and other debt in full and on time in the past. You’ll need a score of at least 620 to qualify for a home loan and 740 to get the best interest rates and terms.
You’re entitled to a free copy of your credit report annually from each of the major credit-reporting bureaus, Equifax, Experian, and TransUnion. Access all three versions of your credit report at www.annualcreditreport.com. Review them to ensure the information is accurate.

2. Correct errors on your credit report

If you find mistakes on your credit report, write a letter to the credit-reporting agency explaining why you believe there’s an error. Send documents that support your case, and ask that the error be corrected or removed. Also write to the company, or debt collector, that reported the incorrect information to dispute the information, and ask to be copied on any materials sent to credit-reporting agencies.

3. Pay every bill on time

You may be surprised at the damage even a few late payments will have on your credit score. The easiest way to make a big difference in your credit score without altering your spending habits is to diligently pay all your bills on time. You’ll also save money because you’ll keep the money you’ve been spending on late fees. Credit card or mortgage companies probably won’t report minor late payments, those less than 30 days overdue, but you’ll still have to pay late fees.

4. Use credit carefully

Another good way to boost your credit score is to pay your credit card bills in full every month. If you can’t do that, pay as much over your required minimum payment as possible to begin whittling away the debt. Stop using your credit cards to keep your balances from increasing, and transfer balances from high-interest credit cards to lower-interest cards.

5. Take care with the length of your credit

Credit rating agencies also consider the length of your credit history. If you’ve had a credit card for a long time and managed it responsibly, that works in your favor. However, opening several new credit cards at once can lower the average age of your accounts, which pushes down your score. Likewise, closing credit card accounts lowers your available credit, so keep credit cards open even if you’re not using them.

6. Don’t use all the credit you’re offered

Credit scores are also based on how much credit you use compared with how much you’re offered. Using $1,000 of available credit will give you a lower score than having $1,000 of available credit and using $100 of it. Occasionally opening new lines of credit can boost your available credit, which also affects your score positively.

7. Be patient

It can take time for your credit score to climb once you’ve begun working to improve it. Keep at it because the more distance you put between your spotty payment history and your current good payment record, the less damage you’ll do to your credit score.

G.M. Filisko is an attorney and award-winning writer who keeps a close eye on her credit scores. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

1. Research Early and Often

Shop around. Too many homebuyers treat insurance as an afterthought and go with the first policy they find. They might get lucky, but chances are, they’re paying too much or covering too little. Insurance is critical to your long-term happiness, and it can be a substantial part of your monthly home-related expenses. The more research you do, the greater the odds that you’ll find a policy that fits your needs and your wallet.

When you’re shopping for policies, be sure to start with your existing car, boat, or other vehicle insurance provider. The insurance business is competitive, and most insurers will offer package deals, particulularly if you’re a long-standing customer. Be sure to ask about “longevity discounts” when you speak with your agent. As an added bonus, you’ll also be able to combine your bills to reduce bookkeeping.

Raising your deductible is a great way to lower your monthly payment. It reduces risk to the insurer, shows them you’re not going to pester them with frivolous claims, and can save a conscientious homeowner a lot of money in the long run. Just be sure that you can absorb the costs. An extra $2000 of expenses over the long haul may seem insignificant, but you rarely need insurance at good times. Will you be able to cover the deductible 2 days before payday, the week your daughter’s tuition is due? If not, choose the higher premium for now, and adjust your deductible when you can afford it.

All assets depreciate over time, so be aware of the difference between “Actual Cash Value” (ACV) and “Replacement Costs.” Your TV might only sell for $200 on Craigslist, but but buying a new one might cost $2000. Policies will make explicit reference to ACV and Replacement Costs, so be aware of what you’re signing, and get the coverage you need.

Your credit was good enough to get a mortgage. Congratulations, but you’re not done. Many insurers will factor your credit score into your rate, so be sure to check your scores frequently and address any blemishes.

Before you apply for insurance, ensure that your home is as safe as possible. Install fire extinguishes, deadbolts, outdoor lighting, smoke detectors, burglar alarms, and fire-retardent plants. You’ll be safer and your premiums will drop.

Florida has hurricanes. Oklahoma has tornados. California has earthquakes. Every homeowners policy has exemptions, usually based on location. If you’re building or buying a home in flood country, you’ll probably need to pick up special flood insurance. Ask your insurer what the policy doesn’t cover when you buy. Odds are, he or she will be happy to sell you additional coverage.