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4 Questions You Should Ask Before Buying or Building a Home

4 Questions You Should Ask Before Buying or Building a Home

Buying and or building a home can be the best or worst decision you ever make in your life and while it can be an exciting journey, it’s not always as easy as it may appear on HGTV. In fact, if you have never been a home owner, purchasing a home could be a daunting task–especially, if you’re not prepared for what lies ahead. Before stepping into home-ownership it’s important to educate yourself about the process of home buying to ensure you have thorough knowledge of the market before making a decision that can impact you and your family’s lives forever.

“Should I build or buy a home?” is one of the most popular questions many new home buyers ask as they begin their  journey. While it may seem like you should be able to answer that question pretty simply, it is actually very complex and a question that requires several other follow up questions. In order to ensure that you are successful in your journey to home ownership here are just a few questions you can ask in your initial process to ensure you are making the best decision possible.

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Do You Know What You Want?

Do you really know what you want in a new home or will you only know what you want when you see it?  If you are not sure what you want then perhaps buying an already established home is for you. If you are one of those many people who has created their dream home in their minds already then floor planning and 3d rendering will save your life. One of the best investments you can make when planning to build your home is to have a 3 dimensional model of your home created in order to keep you from simple regrets such as building a room that’s too big or small.

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Can You Do the Work on Your Own?

Many people are eliminating the middle man for a plethora of services and opting to do the work on their own. Taking your home building into your own hands (especially if you have the license to do so) could save you and your family money on labor and repair costs if done correctly and who doesn’t want to save money right? One suggestion that many “Do-it-Yourself” experts make is to leave very technical jobs to the professionals. A few of these jobs include: roofing, installing HVAC systems, plumbing etc. Attempting to do these tasks on your own–especially if you are not qualified, could cost you more money in the future if you’re not careful.

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Will You Need City Services?

Do you prefer living with a well and/or a septic tank or would you prefer to live in a place that is regulated by the city? If you are confident that you would rather be regulated by the city, then buying an existing home will work far more in your favor than building one.

What Other Options Are Available?

There are several different options available to those who are interested in building or buying a home but it all boils down to knowing exactly what you want and how soon you are wishing to accomplish it. Even if you begin your home search and set on finding the perfect property that already exists, you could easily end up deciding to build in order to get the home of your dream. On the flip side, you may intend to build and later decide an existing home is better. Whichever option you decide, it’s always best to work with an experienced professional such as a real estate agent or a general contractor to ensure the process goes as smooth as possible.

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Stephanie Caudle

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Last Updated on March 29, 2021

Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

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  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

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  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

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Featured photo credit: aryehsampson.com via aryehsampson.com

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