Things They Don’t Tell You About... Buying a House

In this episode of “Things They Don’t Tell You About…��� new homeowners share the pros and cons of owning a home along with things they’d do differently next time around. Financial expert Nicole Lapin also weighs in on finding the right homeowners insurance for your needs.

Transcript, below.

What surprised you about the home buying process?

-Everything.

-How much money it costs.

-Just the down payment was step one, closing costs, and other derivative fees.

-Massive amounts of paperwork.

-It felt like I was signing papers for days. You just sign when they tell you.

-Sign the dotted line. You got it. Sign and date. We’ll do it.

What is the best thing about being a homeowner?

-Not paying rent.

-The tax break.

-Knowing that it’s yours every time you walk in the door. You are the landlord. And so you have a say over what you want to make it.

-I made it a reflection of who I am.

-You’re making yourself money. There’s nothing bad about that.

All right. Finish the sentence: “If I can do it all over again, I would……”

-I would not get white quartz countertops in my kitchen.

-I would research the neighborhood, see if it fits a fit as opposed to just going on a Sunday and saying, yeah, we love the house.

-I would have just stepped back a little bit and just not rushing into things.

-I think I wish I would have known more about the hidden costs.

-Even just someone coming to the house just surveying the property and the property line and their value, everything costs money.

-I came home from a long weekend. And I heard a noise. And I walked in, and there’s a waterfall in my house. And it completely flooded the entire structure. There was two catastrophic insurance claims within seven days of each other. I mean it was over $100,000 worth of damage. And if I didn’t have insurance, I would have been living on the street.

NICOLE LAPIN: Whether you’re looking for your next dream home or you’re already living in it, going with the right homeowner’s insurance can have a substantial impact. For example, there’s a good chance you’ll want to make some renovations to your new home.

To ensure that you’re covered for all of those renovation costs, you’ll want to update your insurance policy. This isn’t automatic, and you may be taking on more risk than you realize. Remember, not all policies or situations are the same.

Amica can put together a home insurance policy that is customized to the coverage you need and may also be able to offer discounts on remodeled homes. Make sure you’re covered so you can keep creating memories for years to come.

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