Questions Every New Homeowner Should Be Asking

Questions Every New Homeowner Should Be Asking

A new home is likely going to be one of your biggest investments ever, so make sure to protect it wisely. The best way to do that is to know what questions to ask before, during and after purchasing a new home.

Some of the fundamental questions you should ask when looking for a new home is how much exactly it is worth, how much did the seller pay for it, and why is the seller moving. It is also important to find out as much as you can about the home’s location as well as its structural features and characteristics because they are all factors that will affect how much you pay on your homeowner’s insurance policy each month.

Once you have found the home you like, you should consider the best way to determine how much you should reasonably offer for the house and how much you could afford to pay each month in mortgage and insurance payments. You need to also ask questions about which home loans are best for you and how much real estate taxes you would owe on the house each year and whether the home comes with a warranty or not.

One of the primary questions you need to ask after purchasing a new home is how much insurance you will need to properly protect your investment. New homeowners must determine how much it would cost them to completely replace or rebuild their home in the unlikely event that it gets damaged or destroyed. The other questions you should be asking is if your new home is in a flood plain or an area that is prone to flooding, earthquakes or other natural disasters. Such factors can drive up insurance costs.

Home buying can be an exciting affair but do not let the excitement distract you from asking the right questions. If you are looking to purchase a home in Lombard, Illinois or surrounding communities, and have questions about homeowners insurance, please contact the professionals at Steve Wilk Insurance Agency.