It’s a new year and that means many people may be thinking about becoming first-time homeowners in 2020. Homeownership can be a rewarding milestone but it’s also one that comes with potential costs that need to be taken into account, alongside mortgage payments.
A major difference between a homeowner and renting is that there is no landlord to turn to should something in the home break or become damaged. As a homeowner, it is your responsibility to take care of fixing what may be broken. These repairs can be potentially costly but there are ways to reduce the money needed to shell out if, for example, the water heater in the home suddenly decides to go kaput.
Strongly consider home warranty insurance. This may be offered by the seller of the home but even if it isn’t, it’s worth doing the research. With this insurance, you typically have to pay a service call fee, which costs significantly less than having to pay for the repair yourself. Furthermore, a considerable chunk of the guesswork involved in finding a reliable, reputable contractor is taken out as the warranty company has an existing list of local contractors it partners with.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with a Miami insurance claims attorney and receive a free consultation We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.