Posted in home repair

Is Home Insurance Required When You Buy a House?

If you’re buying a home, one question you might wonder is this: Is home insurance required when you own a house?

In many cases, homeowners insurance is indeed mandatory—and even in cases where it isn’t absolutely necessary, it’s still a good idea. To help you understand why, we’ve put together this Home Buyer’s Guide to Home Insurance, which will help walk you through what you need to know from beginning to end.

In this first article, we’ll introduce you to what homeowners insurance is, why it’s often essential, and what can go wrong if you don’t have it.

What is homeowners insurance?

With home insurance, as with other types of coverage (including health insurance), you pay a relatively small amount of money either monthly or annually in exchange for the promise that your provider will help you pay for unexpected costs you might incur as a homeowner.

What can

Read More
Continue Reading Is Home Insurance Required When You Buy a House?
Posted in home repair

5 pieces of advice for anyone who wants to buy a second home

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Buying a second home isn’t a quick process — it takes time, and a lot of planning.

Financial planner and co-founder of Facet Wealth Brent Weiss has seen several clients buy second homes, and says there’s one important thing to have before you start.

“The No. 1 thing that people need to do is have a plan around it,” he says. “If you do it right, it becomes a really amazing part of your financial plan, and it’s a successful moment for you.”

In order to build a solid plan, there’s a lot that needs to happen before you even start thinking about the home itself.  

Find out what a

Read More
Continue Reading 5 pieces of advice for anyone who wants to buy a second home
Posted in home repair

Working From Home Is Here to Stay, So Let’s Get It Right

(Bloomberg Opinion) — The Covid-19 pandemic has crushed the economy, sent joblessness soaring, and killed over a million people worldwide. But there are a few ways in which the pandemic may prompt society to improve, and one is remote work. Though it was initially necessary to keep employees from getting sick, remote work promises to make people more productive and happier while helping the environment and preserving infrastructure.

When the coronavirus struck, those who could do their jobs remotely often did. The number has gradually declined as our understanding of safety measures increased, but it’s still substantial:



chart: Still Staying Home


© Bloomberg
Still Staying Home

And while many people will go back to the office after the pandemic is over, part of the shift will probably be permanent. A recent survey shows a substantial increase in the number of workers who say they won’t go back to the office full time:



chart: Workers Won't Rush Back After Covid


© Bloomberg

Read More
Continue Reading Working From Home Is Here to Stay, So Let’s Get It Right
Posted in home repair

State Takes over Houston’s Hurricane Harvey Home Repair Program

All Houston, Texas, resident Alice Torres has wanted in the three years since Hurricane Harvey hit was to repair her family’s flood-damaged home so her 85-year-old mother can feel safe and settled again.

But when her mother, Dolores Torres, died from COVID-19 on Aug. 2, her family was still trying to get help from a Houston program that has been criticized for its slow pace in repairing homes damaged by the massive storm. The state took over the program this week and Torres and other residents who have applied for assistance say they’re worried that could lead to yet more delays.

“She deserved so much better. She deserved her house. She deserved to have seen it nice,” Torres, 54, said. She said her home still has Harvey-related electrical and plumbing issues due to insufficient help from insurance and shoddy work from a contractor.

Houston Mayor Sylvester Turner called the state

Read More
Continue Reading State Takes over Houston’s Hurricane Harvey Home Repair Program
Posted in home repair

Lakeland Habitat for Humanity expands home-repair program for vets in Polk


Lakeland chapter accepting applications from entire county

Gary White
 
| The Ledger

LAKELAND — Lee Wilson and his 92-year-old mother, Rosezell Wilson, no longer have to worry that water might seep into their house the next time a thunderstorm stalls over their Lakeland neighborhood.

Contractors hired by Lakeland Habitat for Humanity recently replaced the Wilsons’ roof, while also making repairs to a bathroom and a porch and replacing a kitchen faucet and two windows. And it cost the Wilsons nothing.

Lee Wilson, 70, benefited from a Habitat for Humanity program that provides free home repairs for veterans and their families. Wilson served in the U.S. Army for three years, including one year spent in Vietnam during the military action there.

Most Americans probably associate Habitat for Humanity with the mission of building houses for people with low incomes. In recent years, though, the Lakeland affiliate has shifted more toward doing

Read More
Continue Reading Lakeland Habitat for Humanity expands home-repair program for vets in Polk
Posted in home repair

Your next home insurance rate increase is going to be a whopper

South Florida homeowners are about to get hit with insurance rate increases unlike any other we’ve ever experienced.

Loading...

Load Error

We’re talking as much as 30% to 40% over what you are paying now and price hikes of $1,000 or more for your next year of coverage.

Insurers have been warning for years that these increases would hit us hard. And now they’re here, thanks to years of rising claims abuses, court-clogging litigation, spiraling costs from hurricanes Irma and Michael, and one of the most active seasons in memory for severe and destructive weather.

When Weston resident Ruth Bettini opened her insurance renewal notice in September, “I almost died of shock,” she said. The annual premium to insure her $550,000 house with Orlando-based St. Johns Insurance Co. had increased by 28% — from $4,647 last year to $5,946 for the term beginning Oct. 1. That’s $108.25 more per month.

She

Read More
Continue Reading Your next home insurance rate increase is going to be a whopper
Posted in home repair

McDonald’s and KB Home Boost Their Dividends

Text size


Karen Bleier/AFP via Getty Images


McDonald’s,


RPM International,

and

KB Home

were among the U.S. companies that declared dividend increases last week.

They come at a time when there are signs that dividends, many of which were cut or suspended due to the pandemic earlier this year, are stabilizing.

S&P Dow Jones Indices is now forecasting a 1% decline in S&P 500 dividend payments this year versus 2019 levels, an improvement from its forecast in May of a 3-4% drop.

Fast-food restaurant company McDonald’s (ticker: MCD) declared a quarterly disbursement of $1.29 a share, up 3% from $1.25.

The stock, which yields, 2.3%, has gained about 16% this year, dividends included.

Home builder KB Home (KBH) plans to up its quarterly payout to 15 cents a share from 9 cents. That’s a 67% increase.

The stock, which has returned about 20% year to date, yields 0.9%.

Read More
Continue Reading McDonald’s and KB Home Boost Their Dividends
Posted in home repair

State takes over Houston’s Harvey home repair program

title=re

In this photo taken Thursday, Oct. 8, 2020, Houston resident Alice Torres sits inside her home, which had been damaged during Hurricane Harvey in 2017. Torres says she has not unpacked boxes of belongings in her living room because she is still waiting for help from a city program to finish repairs in her home. This week, the state of Texas took over the program over what it says is slow progress the program has made in repairing homes. Torres and other residents who have applied for assistance say they’re worried the takeover could lead to more delays.

AP

All Houston resident Alice Torres has wanted in the three years since Hurricane Harvey hit was to repair her family’s flood-damaged home so her 85-year-old mother can feel safe and settled again.

But when her mother, Dolores Torres, died from COVID-19 on Aug. 2, her family was

Read More
Continue Reading State takes over Houston’s Harvey home repair program
Posted in home repair

State takes over Houston’s Harvey home repair program

HOUSTON (AP) — All Houston resident Alice Torres has wanted in the three years since Hurricane Harvey hit was to repair her family’s flood-damaged home so her 85-year-old mother can feel safe and settled again.

But when her mother, Dolores Torres, died from COVID-19 on Aug. 2, her family was still trying to get help from a Houston program that has been criticized for its slow pace in repairing homes damaged by the massive storm. The state took over the program this week and Torres and other residents who have applied for assistance say they’re worried that could lead to yet more delays.

“She deserved so much better. She deserved her house. She deserved to have seen it nice,” Torres, 54, said Thursday. She said her home still has Harvey-related electrical and plumbing issues due to insufficient help from insurance and shoddy work from a contractor.

Houston Mayor Sylvester Turner

Read More
Continue Reading State takes over Houston’s Harvey home repair program
Posted in home repair

Elmhurst man jailed with multiple felony charges including home repair fraud

CHICAGO — An Elmhurst man who operated a fraudulent business has been jailed in Will County on numerous felony charges, including home repair fraud and money laundering.

Edmund Kavanaugh, 46, operated a business known as “Goliath Construction Corporation”, which offered home repair, roofing, HVAC and appliances.

One family that fell victim to his fraudulent practices is glad that Kavanaugh will be unable to continue his illegal practices, which date back to 1995.

“We are thrilled he’s off the street and cannot take someone else’s deposit,” one Duggan sister said.

The sisters were referred to Kavanaugh on the “Moms of Beverly” Facebook page from a woman that turned out to be fictitious.

The Duggan family had spent over $8,000 for materials on a job that Kavanaugh said would cost over $32,000, to which he offered a payment plan.

The Duggan sisters said Kavanaugh showed them all of his papers, license, referrals

Read More
Continue Reading Elmhurst man jailed with multiple felony charges including home repair fraud