What to Know When Purchasing a Fixer-Upper Home

If you’re looking to buy a fixer-upper home in the Mesa, AZ area, you need to know these things that could fix you up financially.  You may be excited about the possibilities of the fixer-upper home, but you also don’t want to end up needing to spend more time and money on the renovations than the purchase price.  Here are four things to help you decide if it’s a keeper or not.

•    Evaluate the price.  A fixer-upper should come at a fixer-upper price.  Look at the neighborhood where the home is located.  You don’t want to fix up a home to improve the neighborhood, which could be a mistake if you plan to sell the house.

•    From the beginning, start evaluating the areas that need improvements.  Are the renovations things like painting and landscaping that will take more sweat than money to correct or expensive renovations?  Start calculating the renovation costs.

•    Consider which improvements will need a professional to manage, such as a new roof, electrical or plumbing work, heating or cooling systems, or insulation versus those you can do yourself.  The ones that need a pro will be more expensive repairs and possibly more time-consuming. 

•    Fixer-uppers can take time and cause ongoing disruption in the home for a while.  Think about your tolerance level with disruption and the renovations needed.  It can be taxing on stress levels, and you’ll need the patience to deal with all the repairs.  Consider your budget, time, and tolerance first.

Lifetime Investments

Lifetime Investments provides homeowners insurance policies in the Mesa, AZ area.  Our agents work to make sure you have the right coverage for your home.  Contact a Lifetime agent today and start exploring your homeowner’s insurance needs for that fixer-upper.

Insurance and financing your car

Whether you finance your car or pay cash does not make your car insurance go up or down, but you may end up paying a little more while financing your car. Lifetime Investments in Mesa, AZ is your source for all kinds of car insurance in the state and can answer your questions about various policies.

The insurance company does not care how you came into possession of your car, so that does not impact your rates. However, the lender may require more insurance than you were planning on getting. Basic liability insurance is required in Arizona. If you have a new car or one that has some value, you may want to have collision and comprehensive coverage to protect your property.   

If you have a loan on the car, the lender will require you to have that additional coverage and will want to be listed as the one that will receive payment if the car is destroyed. The lender wants to protect his or her investment, so they will get the payment first if your car is destroyed. The lender will also want it repaired if it is damaged, so that is another reason for that requirement.  There is no extra charge for adding a payee to the policy.  There is more paperwork involved when you have a loan.

After your car is paid off, and if it is not of high value, you might consider dropping comprehensive and collision coverage. Contact Lifetime Investments in Mesa, AZ for all your automotive insurance needs. Call them or visit them online to get prices on coverage. Lifetime Investments can help you make sure you have the right insurance to protect your property, whether you are paying cash or taking out a loan on your new car.