by maria | Oct 11, 2016 | Exclusive QA |
Many people do, mainly because determining value can often be tricky. This is especially true in a changing market when local prices either take off dramatically or plunge precipitously, like during the Texas oil bust of the 1980s. While it is up to a professional...
by maria | Oct 11, 2016 | Exclusive QA |
Yes, but only after you have sold it because improvements add to the basis of your home. Your gain is defined as your home’s selling price, minus deductible closing costs, minus your basis. The basis is the original purchase price of the home, plus improvements, less...
by maria | Oct 11, 2016 | Exclusive QA |
The most comprehensive insurance policy is guaranteed replacement cost coverage, which will pay to rebuild your home even if the cost to rebuild is more than your policy limit. This kind of coverage is more expensive and can cost from about $400 to $1,000 a year or...
by maria | Oct 11, 2016 | Exclusive QA |
A standard policy protects against several natural disasters and catastrophic events, and covers your personal belongings. But it will not guard against earthquakes, floods, war, and nuclear accidents. The policy can be expanded to include these disasters, as well as...
by maria | Oct 11, 2016 | Exclusive QA |
The second-home market tends to have more ebbs and flows than the primary home market. That said, there is a growing trend toward the purchase of vacation homes. They are being bought for investment purposes and enjoyment, as well as retirement. In the latter...
by maria | Oct 11, 2016 | Exclusive QA |
Many people flock to refinance while mortgage interest rates are low, particularly when rates are two percentage points below their existing home loans. Other factors, like when to finance, will depend on how long you plan to hold on to your home and whether you have...