If you have not updated your home insurance in a while, then you may be underinsured, a problem that could cost you thousands should something happen. It is important to update your buildings and/or contents policy frequently – preferably at least once a year – and also to do so every time you make a big purchase or increase the value of your home in any way (like installing new windows or adding a conservatory).
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If it’s been a while since you have updated your policy, then it is time to make a check of your house to see if you are currently underinsured. The first step is to check the house itself. The proper home insurance cover should pay the cost of rebuilding the house should anything happen to the property. Note that this is different from the market value of the home, which is likely to be much higher. Do not forget to include any outbuildings on your property. You should update the rebuilding costs for your insurance cover every time you make home repairs or carry out improvements, and every few years you should re-evaluate the costs to see if inflation or housing market prices have increased the rebuilding cost of your property.
Next, you should walk through your home with a note book, pen and calculator, and take a good, long look at your possessions inside and out. Your contents cover should be enough to replace your current belongings inside the property. There are two ways in which insurers will do this, so make sure that you are aware of each and take out the correct policy for your needs. Some policies will cover a replacement cost, meaning that if your television is destroyed in a home fire, you will get an equal or better television through your insurance. The other type of contents cover is cheaper, but could cost you more in case of an emergency, and only covers the value of the item at the time that it was destroyed. This means that your insurance company will pay you the current value of your old, slightly outdated television set, which may be worth next to nothing anymore.
Insure the contents of your home carefully, and make sure to note and mention the costs of any valuable individual items that you wish to insure. These items can include your stereo system, camera, computer, collectible items, and nice pieces of furniture. Mention these items to your insurance company or broker to ensure they are adequately covered at the correct rates and remember to update your policy regularly. Also, do not forget to take a trip outside to catalog your barbeque, outdoor furniture, and other outside property or belongings which can be damaged or stolen and would be costly to replace.
You should read the policy conditions carefully before buying any home insurance. Check for any exclusions or excesses that could make claiming for certain items or under some circumstances expensive. It’s also worthwhile contacting the insurer to check if they offer any discounts for installing and using approved security measures and get the details of recommended dealers and fitters. Don’t forget to update your policy if you upgrade your security.
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Help answer the question about home repairs
Where can i find a good computer repair person in Northern NJ or New York City that will do in home repairs?I'm looking for someone reliable that can possibly make in home calls for pc repairs. I don't really have the money to buy brand new equiptment, but I know that my current pc can be cleaned and reinstalled with newer, smoother software. I also think that I need an anti-virus.
Please inform, it would be greatly appreciated.
If you are not really a home repair guy, PLEASE do not tackle these jobs. If you mess it up, which you probably will (because these are complicated renovations) it will cost more in the long run for an expert to come in and make right. Get an expert in the first place. Besides, it won't take as long. And consider the fact that, home repair is the best way for a couple to start picking fights over piddly things. LEAVE IT ALONE!!
Typical 1000-3000 Sq FT Home:
Roof: $4000-$8000
Windows: $1000-$4000
Electrical Upgrade(s): $5000 minimum
There are tons of variables though, you really need to get quotes from 2 or 3 contractors, or call Home Depot?
my god clean your oven nice oven though but uh is that a micorwave? on top??????????
@abcd12345 Ok i can teach u u first hit bake or broil or whatever and adjust the tempature
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You should always get at least 3 estimates. If they are all way different get a few more. Talk to people you know and get referrals. Word of mouth is the best advertisement for contractors. You should consider a bid in the middle range of the estimates that you get and consider how the company works. Do they stick with one job until the job is done or do they start 3 or 4 jobs at once and finish whenever.
To answer your other question, you can figure Labor costs to be about 60% of the job total.
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If you’re working through a recognized organization, then write some local building supply stores asking for donations. There may also be some salvage companies in your area that have surplus.
Keep an eye on your local freecycle group, if there is one; and keep checking the freebies section of your local paper or on-line classifieds site.
If you are living in a HUD home try these websites: http://www.hud.gov/improvements & http://usgovinfo.about.com/library/weekly/aa061100e.htm
If it is not a HUD home, try this site: http://www.homebuyerfunds.com/local_home_repair_grants.htm
Here is some general info: http://www.rurdev.usda.gov/wa/SFH504lg.htm
Most of the time you have be a qualified on the basis of income (the lower, the more likely the qualification & approval).
Good luck!
The question does make sense and is a good one. Most loans do not allow you to borrow money for repairs unless you put a huge sum down and then, what is the point.
However, there is a FHA loan out there that does allow you borrow for repairs but it is very restrictive, most lenders don't want to do it, and as far as loans go you are better off buying a home already improved.
To answer your question directly, a regular FHA loan will not allow you to "cash out" for repairs. Way too risky from their point of view.
One possible way is to get a 80% conventional loan, a 15% second mortgage, put 5% down, and then get it re-appraised. If it appraises at a higher amount they will loan off that amount giving you cash for improvements. But this can be hard to do if you credit is not excellent; like 720+
Hope this helps.
HUD does not offer grants to individuals, whether for buying a home or repairing a home
http://www.hud.gov/grants/index.cfm
"While HUD does not offer direct grants or loans to individuals, we do work through local governments and non-profit organizations to make financial assistance and counseling available."
There are low cost government housing loans available, but not grants. An example of housing grants is for those afflicted with AIDS (14.241 Housing Opportunities for Persons with AIDS http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=14.241 )
You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes. You can find grants for housing on this page http://12.46.245.173/pls/portal30/CATALOG.FUNCTIONAL_PROGRAM_TXT_RPT.SHOW?p_arg_names=func_cat_cd&p_arg_values=ML
HUD has a program called Homeownership Voucher Program that can help you with the monthly mortgage and other homeownership expenses http://www.hud.gov/offices/pih/programs/hcv/homeownership/
Hi, i have an older frigidaire stove & it seems like the temperature’s not staying high & the top element seems like it works, but the bottom element just gets warm instead of getting really hot the way it suppose to. Can it be a sensor inside?, i have no clue what it can be.
ty! im 10 so and im making cookies for my sick mom
Perfect come back.. thanks.. a star…
i’m making sugar cookies MYSELF withouth setting the house on fire