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A home warranty from the builder of a new house is intended to protect homeowners from costly repairs for a specified period. While new-home guarantees offer reassurance, they are sometimes misunderstood, which may result in disputes between builder and homeowner. It pays to know just what is covered and for how long, and to supplement a builder’s warranty with additional coverage from a third party if necessary. What is Covered A typical new-home warranty in the builder covers the heating, ventilation and air conditioning (HVAC) components of the house. Warranties also cover windows, plumbing and electrical systems for workmanship and materials. Siding, drywall, paint, trim and stucco are covered as well. The whole period of protection varies from builder to builder and from component to component. Ordinarily, home warranties cover repairs for one to two decades. Major structural defects that affect the safety of the house are covered for up…

One of the continuing costs of owning a home or business property is paying property taxes to local authorities. Property taxes are essential for financing local authorities and colleges, but they’re also able to add hundreds or even thousands of dollars to a homeowner’s tax burden. Understanding what causes property taxes to grow can help you anticipate future budget and payments accordingly. Home Improvements One of the most significant causes of property tax increases, which can be one of the very despicable, is a increase in the value of a house due to home improvements. Adding a home office, finished basement, or addition to your home will definitely increase its worth at the time of the following assessment. Since assessments determine the worth of the home, and property taxes are based on this value, a greater assessment usually means a higher tax bill. Additional developments, such as adding a garage…

Purchasing tax filings from county and municipal authorities can offer returns ranging from 10 to 50 per cent or more a year, based on the taxing authority. Holders of tax lien certificates have valid rights into a fixed, stated return or name to your property through the foreclosure process. Although investing in tax exemptions can be rewarding, it may be risky if you do not know the proper techniques needed to be successful. There are lots of programs available to help interested investors with learning tax lien investing. Tax Lien Training Site “The Tax Lien Training Site” is a subscription program for tax lien training. The program provides six one-hour training videos. The movies cover tax lien principles, in addition to step-by-step instructions which include researching tax exemptions on the internet and managing investment risk. This program also offers tax sale lists from several counties in the United States. The…

The Federal Housing Administration, or FHA, insures mortgages across the nation and throughout the application enables borrowers to obtain financing with little if any downpayment. The lender needs particular instructions, such as for termites, to confirm that the land is well-built and also to protect its investment. In some areas of the nation, termites are a threat to land and are scrutinized to aid in determining property condition. Termites and other wood-destroying insects destroy property and causes billions in damage each year. Properties must meet with specific criteria concerning termites to qualify for an FHA loan. Termite Inspections Not all properties are subject to termite inspections under FHA. It only needs a termite inspection if the property has signs of termites or the area in which the property is located in is famous for termite activity. Areas with hot climates have more termite activity, even though wood-destroying pests are found…

Homeowners need insurance as it protects them from costly liability suits, covers them in case of weather- or fire-related damage to their homes, also pays for losses sustained from theft. When a homeowner owes money on his house, he wants to get insurance to protect both himself and the lending company. Homeowners whose homes are completely compensated for also carry insurance to protect themselves financially. Construction Coverage At the minimum, all lenders require the construction of the house to be insured. Policies cover losses from fire and weather, but may not cover a building that’s damaged by earthquake or flood. Homeowners can add protection against these dangers to the policy, which will increase the premium. Conventional insurance policies cover damage from fire, smoke, hail, wind, vandalism and theft. The building is insured for its value. At a volatile housing market, worth can go up or down quickly, and it’s the…