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Homeowners Insurance: Things to Consider

by Bill Nelson - Broker

Anyone who owns a home knows that homeowners insurance is essential. It’s coverage you need to have in the event your home suffers significant damage. But understanding just what your insurance covers is not as simple as it sounds, and reviewing your coverage regularly is a prudent idea.

Are you covered for floods? Fires? Earthquakes? All three? Does your policy provide guaranteed replacement cost—which, for obvious reasons, since houses appreciate in value, may be almost prohibitively expensive? And what about exclusions? Many homeowners aren’t sure exactly what their coverage will pay for.

Financial advisors at consumer resource The Motley Fool suggest asking yourself three pointed questions when purchasing or renewing homeowners insurance:

  1. What does it cost to build in your area? There’s no way to price disaster insurance effectively without knowing what it would cost to rebuild your home. You need to know the per-square-foot average construction cost for your zip code—a number you should be able to get from a reputable insurance agent—then multiply that by the total area of your home to get the replacement cost. Insure for that amount, and then recheck the pricing regularly.
  2. What risks does your home face? Exclusions and riders are common for homeowners insurance. In Colorado, for example, policies frequently exclude damage from mold, since mold doesn’t thrive in the state’s dry climate. Other common exclusions apply to older homes, where outdated plumbing or fixtures may lead to greater risks. Be sure you understand exactly what risks your insurer will be covering.
  3. What’s my back-up fund like? The best way to save money on a homeowners policy is by taking on a higher deductible. But the higher your deductible, the less likely you will be to put in a claim for any lesser damages that may occur. You will need to have an emergency fund large enough to cover the gap in the event you ever need to.

Interested in housing and real estate tips? Feel free to contact me directly.

Use Color Trends to Stage Your Home

by Bill Nelson - Broker

 

A favorite trick of home stagers is to pay attention to the hottest colors and incorporate those hues into the design and look of a home. That’s something that anyone who is selling a home should consider, and all it takes is a little research. To help people with ideas on how to decorate rooms, paint companies and designers announce their colors of the year along with trends in color palettes.

For 2017, Benjamin Moore has chosen Shadow 2117-30 as its Color of the Year. The color is a deep, rich violet or amethyst and is described as “exhibiting a variety of nuanced undertones as the light in a room shifts during the day.” This color has already made its way into various industries including textiles, home accessories, fashion, fine art and automotive.

Sherwin-Williams’ color palette trends for 2017 focus on renewed spirituality, body and soul nourishment and a determination to define a sense of self. Each of its four palettes (each of which consists of 10 colors) tells a distinct color story, offering opportunities for homeowners to explore color in new and exciting ways.

The first palette, Noir, is driven by baroque and romanticism trends, a renewed interest in faith and spirit, and a celebration of the night. The Noir palette is rich with colors that evoke vine-ripe fruits, Nordic blues, moody neutrals and golden yellow.

The company’s Holistic palette includes arctic neutrals, blush rose, wild browns and forest-floor green.

Intrepid is a palette inspired by impatience for social and political change and includes fiery oranges, vibrant kimono colors and the simplicity of black, white and gray. Finally, Sherwin-Williams Unbounded palette is influenced by global immigration and how it redefines national identities. Captured in this palette are earthy mustards and browns as well as ocean blues and corals.

Other colors that designers seem to be gravitating towards in 2017 include colors that bring a feel of the outdoors— greens, blues and earth tones, though a splash of royal colors of purple and orange seem popular as well. Green invokes nature, tranquility, and being more peaceful, and earth-toned taupes make you feel more grounded.

Now that you’ve come up with the colors, it’s time to put them to good use. Painting rooms is the most obvious way to incorporate them into the home, but you could also bring in furniture, rugs and decorative accessories in trend colors to help your home stand out from the rest.

I hope you found this information helpful. Contact me for your real estate needs today!

Displaying blog entries 1-2 of 2