Buying a home is typically the largest investment most of us will ever make. Nothing is more important, in my opinion, than thoughtful consideration of the many issues that go into buying a home.
Here are some questions to ask yourself as you consider buying a home, whether it’s your first home or one of many.
If you live in Colorado and own your home, you may be eligible for an exemption or deferral of a portion of your property tax bill. To find out if you meet the eligibility requirements, click here, for more information.
The Property Tax Deferral program helps military personnel and seniors, many of whom live on a fixed income, continue to afford to live in their home by deferring the payment of their property taxes.
Saturday, September 30th
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buying or selling a home
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During the process of buying or selling a home, your clients often learn about recommended or required repairs and upgrades. Of course, the first thing homeowners want to know is, “How much will that cost?”
Pillar to Post is pleased to offer their popular Residential Construction and Remodeling Estimates cost guide, which provides estimated cost ranges for repair and/or replacement of the major systems and components in a home. It also includes general guidelines for the life expectancy of those systems. This information can help you make informed decisions when considering home repairs or improvements. Below is just a sampling of a list of estimated costs for hundreds of repairs/upgrades.
Hardwood Floor Refinish $3-$6 / sq. ft
Carpet-clean $125 / room
Ceramic Tile $6-$11 / sq. ft
Kitchen Renovation $7,500 +
Kitchen counter – laminate $45 / lin. ft
Kitchen counter – marble $80 / lin. ft
Alarm System $2,500
Alarm Monitoring $35 / month
Pressure Treated $15-$30 /sq. ft
Custom Designed & Built $55-$80 / sq. ft.
Skylight $800 and up
Casement – replace $50 / sq. ft.
These estimates reflect the average basic costs for supplies and installation of building materials in United States and Canada. Costs may vary depending on regions, upgrades, complexity, and disposal fees.
For complimentary copies of our Construction and Remodeling Estimates cost guide, please contact your local Pillar To Post office, or download from: http://www.pillartopost.com/costguide
Or download the pdf here Repair & Upgrade Cost Guide
Almost 2 years ago now we were hit by a bad wind & hail storm, here in Englewood, where I live. After the storm passed we inspected our roof and realized we were going to have to have it replaced. The good news for us? Our homeowner’s insurance covered the replacement cost of our roof. The bad new for our next door neighbor? His insurance only covered the actual cash value. Our neighbor ended up having to come up with almost 50% of his cost to replace his roof, boy was he mad!
This article was generously provided by Taylor Bigandt of American Family Insurance. Taylor is a local Insurance Producer in the Englewood area. The agency that Taylor works for has two locations, one in Lakewood and the other in Englewood. Taylor is the Sales Lead Manager at the Englewood office. You can reach Taylor by phone or email at 303-462-2100 or email@example.com.
Summer is fast approaching, and you know what that means? Afternoon thunderstorms. These storms place Colorado in the middle of “Hail Alley”. Hail season starts in mid-April and goes through mid-August. The damage can be catastrophic and may leave you wondering what to do next. If you have the correct coverage on your Homeowners Insurance when that next storm hits, you will not have to worry about what to do next. Many people are not educated by their agents on the coverage that will help them save money when a hailstorm or windstorm destroys their roof. When your roof is destroyed by wind or hail, there will be two different coverages that you can be covered under. The first coverage that I personally recommend having on your Homeowners Insurance is Roof Replacement Cost Coverage. The definition of replacement cost is “the current cost of replacing an existing asset or property with the same quality of construction”. The second coverage is Actual Cash Value. The definition of actual cash value is “the current cost of replacing an asset less the depreciated value”.
Roof Replacement Cost Coverage means that your insurance company will cover your roof at a replacement cost value, less your deductible, without taking into consideration the depreciated value. This means that if your roof costs $20,000 to replace with a $1,000 deductible, the insurance company will pay $19,000. If your policy does not include Roof Replacement Cost Coverage then your roof will be covered at Actual Cash Value. Actual cash value means that your insurer will pay to replace your roof, less the deductible and depreciation for the age of the roof. For example, your roof costs $20,000 to replace and it is 10 years old with a depreciating value of $500 per year along with a $1,000 deductible. The insurance company will then pay out $14,000 ($20,000-$1000=$19,000-$5,000(depreciation) =$14,000) leaving you to pay $6,000 to get your roof replaced.
When shopping for a policy it is important to understand what your wind and hail deductible will be. Some insurance companies are starting to go to a percentage deductible. Having a percentage deductible will help you save at the time of purchase on your homeowners insurance but most people don’t understand the consequences financially by selecting this deductible. A percentage wind/hail deductible will be based on your dwelling coverage. If you own a home that costs $400,000 to replace and you have a 1% deductible for wind and hail then your deductible will be $4,000. If you do not have $4,000 to spend then the policy you purchased will be of no use and your roof will not be replaced.
At American Family Insurance where I am currently employed we still offer a $1,000 wind/hail deductible. In addition, we offer Roof Replacement Cost Coverage on roofs up to 15 years old. This is longer than the industry average which is about 10 years. Our homeowner’s product will be able to properly protect your home during hail season in Colorado.
Again, if you have any questions or would like to inquire about a quote from American Family Insurance please give Taylor a call at 303-462-2100 or email Taylor at firstname.lastname@example.org
If you live in Colorado and haven’t already received your tax bill in the mail you should see it shortly. Here are some things you should know about property taxes and how they are paid.