A home can be an asset that pays off when it’s time to move to a larger home, for college tuition and for retirement.
PASO ROBLES, Calif (PRWEB) July 29, 2021
The online real estate "firsttuesday Journal," reports that more than 47,000 homes sold in California in March 2021, 39-percent higher than the previous year. Homeownership is a primary goal for many in California and across the nation and Rick Torres, owner of R.W. Torres Insurance Agency in Solvang said, “It’s important to protect this valuable asset.”
For most, a home is the largest purchase they will make in their lifetime. A home can be an asset that pays off when it’s time to move to a larger home, for college tuition and for retirement, plus a variety of other situations. “Homeownership is a significant achievement and an important part of life,” said Torres. “New homeowners celebrate by hosting a housewarming party to share their new home with friends and family, but there are some other important ways to mark the achievement of buying a home.”
Tips for helping protect the investment of a home include:
- Mark the calendar for scheduling important home inspections. Inspecting the roof and underneath the home, termite inspections, electrical inspections, inspecting plumbing for leaks and identifying and eliminating fire hazards inside and outside can be critical for preventing serious damage. National Home Ownership Month, in June of each year, can be a good reminder for taking care of some of the business of homeownership.
- “New buyers, especially first-time buyers, can benefit by setting aside a specific time to plan and review the new home purchase budget,” said the Solvang insurance agent. “If the home is already in escrow, or you have moved in, take some time to prioritize and estimate the cost of any improvements you want to make. Some things, like landscaping, can be completed section by section, spreading the cost over time.
- Homeowner insurance is part of the family budget, but it’s also part of the home purchase/maintenance budget. Those who already own a home are going to benefit from a review. Events such as an increase in salary, a new baby, a marriage or divorce, even the death of a partner, can change the owners’ liability risk. It’s important to be sufficiently protected.
“Homeowners insurance not only protects the owners and their families from risk,” said the Solvang insurance agent, “it helps protect the family in the event the home is damaged, if personal possessions are stolen or damaged or if someone is injured on your property. The value of the home also influences the owners’ liability risk. First-time homeowners want to be sure their risk is minimized and that the home is insured at the correct value.
Rick Torres owner of the RW Torres Insurance Agency has been a State Farm Insurance agent since 2007 and provides a full suite of State Farm Insurance products, including Auto, Home, Property, Business, Life, Health. Torres is also an active member of the Solvang and Buellton Chamber of Commerce, National Association of Insurance and Financial Advisors and an affiliate of the Santa Ynez Association of Realtors.
RW Torres Insurance Agency, Inc.
540 Alisal Road, Suite 4
Solvang, CA 93463