different companies doing your insurances separately.
You may also choose to set up an escrow account, depending on your mortgage agreement, to avoid paying large sums all at once for homeownership costs. Essentially, an escrow is a savings account designed to help you pay your mortgage, property taxes, and even homeowner’s insurance in smaller, periodic installments. Your lender usually deals with payments from your escrow, which means less stressful financial management for you.
A HOME WARRANTY LETS YOU SLEEP BETTER AT NIGHT
If you’re a first-time home buyer or empty nester downsizing after several previous home buys, it might be a smart idea to have a warranty plan, so that you can sleep well at night. The advice also applies to the experienced real estate owners who just don’t want to have the thought of maintenance and repairs hanging over their heads. A home warranty is a way of protecting yourself from expensive, unexpected repair bills. Depending on the local market as well as on the deal, the home warranty can be paid either by the seller or by the buyer. A home warranty paid for by the seller can be a negotiation point or inducement offering to protect the buyer from having to do any additional, expensive repairs to the house after the deal is closed. At the same time it releases liability to the seller in case any problem happens with the home. The cost of a home warranty is generally not too high, often between $350 and $600, depending on the type of property and items covered. The initial payment is usually made one year in advance and can be paid directly by escrow at the closing.
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