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One of the costs of owning a home that buyers need to consider in their budgeting is the cost of insuring the home. A standard policy will cover exterior and interior damage from incidents like vandalism, fire, wind and lightning. It also covers loss of use expenses, damage to structures like sheds or gazebos, and liability and medical costs if someone is injured on your property. Common exclusions are flood, hurricane and earthquake damage, but you may be able to buy additional coverage for these if desired or required. Policies vary widely, but in general, homeowners insurance covers the following areas: Your…

Moving into a new house is exciting, but the list of “to dos” can be overwhelming. You not only have to pack and prep the new house, but you have to tie up all the loose ends at the old place. Here are 10 tasks that are easily overlooked when moving into a new home – if you take care of these, you’ll have a leg up on moving day. 1. CHANGE THE EXTERIOR LOCKS: You really don’t know who else has keys to your home, so change…

ANY open permits and or code violations need to be fully addressed and resolved by the potential home buyer, prior to closing.  Failing to do so can be very costly for a homeowner. Open permits remain with the property, despite any change in ownership.  Failure to uncover any open permits prior to closing means that these permits become the responsibility of the new owner.  Requirements to remedy an open permit can include fines, fees, and completion of pending work and removal of work that does not meet building requirements.  Open permits…

Buying a home is probably the most important purchase you will ever make…  these ten tips will help you better understand what you can expect from contract to closing.  1. Determine Your Needs The process of purchasing a home can be especially daunting if you don’t take the time to determine your needs. A real estate professional will be able to best assist you if you are willing to answer a few important questions: What is your current lifestyle and how will that play into the neighborhood or community you choose?…

There is often a misconception of what a final walk through is and why it’s important.  A final walk through can sometimes be referred to as a pre-closing “inspection.”  Although you are probably excited and anxious to close on your new home, the final walk through is important and many things should checked and inspected and not overlooked. The final walk through is NOT a home inspection.  In most cases, a buyer has had the opportunity to perform a thorough home inspection prior to finalizing the contract for purchase.  It is a common contract contingency that you should be aware of when purchasing a…

The obvious advantages to residing in Florida is the weather and no state income taxes.  Another lesser known, but equally as important, advantage is Florida’s homestead laws. “Homestead” can be a deceptively complex issue in estate and tax planning when individauls finally decide to become Florida residents, including asset protection, property tax savings, and restrictions on the estate plan. Florida’s asset protection for homesteads is anchored in the state’s constitution (Article X, Section 4). Homestead property owned by a natural person is…

One of the major differences between owning a home and renting one is the allowable home buying tax deductions. The tax deductions can have a serious impact on the overall cost of comparing renting vs. buying. One of the advantages of owning a home is the tax savings benefit. If you have purchased a home in the last year you are going to want to make sure that you have The list below summarizes the deductions that many people forget about when buying Real Estate. While those that have owned a home before may be familiar with some of these tax…

Chances are, when you think about investing in real estate the first thing that comes to mind is your home. For many people, their home is the single largest investment they will ever make. But have you ever stopped to consider that once you purchase a home it becomes part of your overall portfolio of investments? In fact, it’s one of the most important parts of your portfolio because it serves a dual role as not only an investment but also a centerpiece to your daily life. Though a home is one of the largest investments the average…

Even though fall is in full swing here in Western North Carolina, it is not too early to start to think ahead to the Christmas Holidays and plan your visit to the area. Here are our top 6 things to do in Asheville, NC this winter. 1. For those of you who love to be outdoors, one of the best things to do in Asheville, NC this winter is go hiking. We are just south enough that you don’t need snow boots but just north enough that there will be consistently cold weather that is perfect for spending…