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Be Mindful of Insurance While Renovating Your Home

Spring and summer are often popular times for making home renovations. Especially if you have an older house, you might be ready to take the opportunity to fix and upgrade parts of your home. But it’s also a good idea to keep your home insurance in mind. Here are some tips to help you stay on track.

Set the Budget

Your budget is the most important part of having a successful renovation. People who go into a large remodeling project with a loose estimation of the costs will always end up spending far too much. By figuring out how much money you have to set aside, you can then start thinking of what kinds of projects you can or can’t do at this time. Also, many contractors and experts will also recommend a twenty percent contingency fund in your budget, which is a sum reserved for taking care of unexpected problems like mold remediation.

Have Realistic Plan

Another place where homeowners go wrong financially is when they have extremely ambitions ideas of what they want to do. It’s more than likely that you won’t be able to completely remodel your entire house on your budget. Sometimes you can get away with a simple update of the fixtures in your bathroom instead gutting the whole thing and starting from scratch. Once you have your budget as a yardstick, you can decide what projects you can save money on by doing them yourself and when to call a professional.

Put Repairs First

Finally, you should always prioritize what needs to be fixed in your home. By addressing problem areas first, such as fraying electrical wiring or rusted pipes, you will insure that additional renovations won’t go to waste if one of these problems led to a catastrophe like a fire. And making repairs where needed could also help increase the property value while helping your home insurance.

Get in Touch with Wachter Insurance

Whether you need homeowners’ insurance or auto insurance, our team at Wachter Insurance Agency, Inc. is here to help. We offer all of our clients competitive rates, professional customer service, and a huge range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969 and we would love to help keep your home and family safe every day of the year. For more information, call us at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Twitter, and Pinterest.

This entry was posted on Monday, June 3rd, 2019 at 1:17 pm. Both comments and pings are currently closed.