Home Repairs

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When you become a homeowner, it is a joyous occasion.  You are now the proud owner of a piece of real estate that will increase in value.  That is a great investment.  But, with that investment comes more than just paying the mortgage and property taxes.  There will definitely be times when you need home repairs.  You have to take care of your investment. so that it will sustain it's value.  If you have a home that is in need of many repairs, that is not helping the value.  Just like if you are late on a payment or delinquent on your property taxes,you are losing value on your home.  You do not want to have negative equity on your home.

If you have a huge repair to make and your home is in shambles, you will not be able to borrow against your home's equity.  This home ownership thing thing has it's pros and cons.  But, as a homeowner myself, I see more pros.

You will have unexpected home repairs, so you need to be prepared for those. I live in a hurricane prone area and I have seen so many people who are at a loss because their mortgage insurance did not cover their specific problem of a tree falling on their house.  Was it an act of God or was it a flood?  It is heartbreaking to see people who have paid their insurance premiums only to be told, their losses are not covered because they did not have flood insurance.  Remember Katrina that struck the Gulf Coast years ago?  People were homeless because they could not afford the home repairs or their homes were destroyed.

When you own a home you can expect certain repairs, if you live there long enough.  New flooring, new windows, or a new roof are a few that come to mind.If you have equity in your home and it is not in a state of disarray, you can more than likely borrow against that equity to make home repairs or do a remodel.  Most people want to use that line of credit to upgrade their homes, but sometimes they have to use it for higher priced home repairs.

My parents are getting ready to sell their home and they decided it was time for a new roof.  They thought that would make their home much more attractive to potential buyers, if it had a new roof.  Everything else is in tip top shape.  Putting a new roof on a house can be quite expensive.

The first thing you need to do is get quotes from different roofing companies, like Westchase Roofing.  Their are many aspects that go into putting on a new roof.  You have to determine if you want a metal roof or a shingled roof.  While metal roofs last longer, they are more expensive.  But, shingles are now in pretty good competition with the metal roofs, because they are being made with more sustainable materials.  My parents decided on a shingled roof and the shingles have a 20 year guarantee.  Personally, I love the sound of rain on a metal roof.

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