Blog :

Don’t Be That Neighbor… Tips to Increase the Value of your Home

Don’t Be That Neighbor… Tips to Increase the Value of your Home


Tip 1: Let the experts help

 

Invite a NextHome realtor or interior designer over to give your home an initial assessment. You’ll avoid wasting time or money on less significant renovations and you’ll walk away with new inspiration. Remember: not every home improvement is cosmetic. Deteriorating roofs, termite infestation or outdated electrical systems severely affect the value (not to mention SAFETY!) of your home. Hire an inspector and make a checklist of urgent, important, and someday renovations

 

Tip 2: Landscaping Matters

 

Curb appeal is basically a love language in itself. Get rid of trash, clutter, and any other eyesores that might detract from a first impression. Purchase plants that are native to your region or plants that are drought-tolerant; these require less water and maintenance, which means cost savings for you.

 

Tip 3: Paint, Paint, Paint

 

One of the simplest and most cost-effective improvements of all is paint. When selecting paint colors, keep in mind that neutrals appeal to the greatest number of people.

 

Tip 4: Owning Less is Better than Organizing More

 

Your home tells a story and a clutter-free, bright space is always going to attract more potential buyers. It can be a worthy investment to hire a professional cleaning service to deep clean your home.

In addition to cleanliness, visual space or how large your home feels also matters. Replace heavy closed draperies with vertical blinds or shutters to let light in or try adding a single large mirror to a room to visually double the space.

 

Tip 5: Big Return on Bathroom & Kitchen Updates

 

A great room to update for less than $750 is the bathroom. The two rooms that benefit most from even small renovations are the kitchen and bathroom. One cost-effective change — like replacing an outdated vanity, old plumbing, and lighting fixtures or adding a new tile floor — will guarantee a lot of bang for your buck and give your bath an updated, modern look.

You don’t have to start from scratch to increase value in the kitchen. Start by swapping out just one item, such as a stained sink or ancient microwave for shiny new stainless models. Even small kitchen updates will add big value to your home.

Be sure to reach out to Gateway Insurance Group to learn more about simple tips that can make all the difference for the value of your home. Visit us at www.gfapandc.com/nexthome

The dirty “D” word of insurance – Deductible

The dirty “D” word of insurance – Deductible

In the business of insurance, customers and clients have identified two dirty words, premium, and deductible, because they imply a cost the customer will have to pay. Premium refers to the monthly, semi-annual, or annual bill a customer pays for insurance protection. A deductible is the financial portion of a claim an insured (aka homeowner) would be responsible for in the event a claim is made.

When it comes to homeowner’s insurance, a deductible can actually be structured one of two ways: it can be a flat rate (for example a $1000 deductible) or it can be a percentage of the insured structure (for example a 1% deductible on a $250,000 home would be $2500.)

Generally, the higher deductible a customer can afford, the more inexpensive the regular premiums will be. With a higher deductible, the customer is taking on more personal risk in the event of a claim, so the insurance companies reward them with a lower bill.

 

PRO TIP for homeowners: set up a separate savings or investment account that always keeps your deductible set aside so you can use it as needed during the time of a claim.

Also, be aware that a homeowner’s insurance deductible does not operate in the same fashion as a health insurance deductible. Each homeowner insurance claim requires the same expected deductible* and small claims do not add up until you “meet your deductible” as it does in healthcare. This means that clients should not file a claim unless the damage to the property is substantial enough to surpass their deductible. Your designated insurance agent will be able to help educate you on do’s and don’ts of filing claims.

 

PRO TIP for homeowners: consider bundling your home and auto insurance with the same company to earn discounts on your insurance costs.

Finally, don’t expect to write your insurance company a check for your deductible in the event of a claim. The insurance company will assess the damage and make payment to the insured minus their deductible. For example, a homeowner’s insurance claim adjusted in the amount of $10,000 with a $1,000 deductible would pay the insured $9,000.

When you understand the dirty words of insurance, they become a little less intimidating and you can control how you use them (literally and figuratively.)

Be sure to reach out to Gateway Insurance Group to explore your options for deductibles, discounts, and more! Visit us at www.gfapandc.com/nexthome

*With some policy provision exceptions (like a lesser deductible for a wind claim, etc.)