buying a ROW or detached HOME

Buying a rowhome or a detached single family home (SFH) is a fantastic investment — as long as you know what you’re looking for and how that relates to what you’re looking at when it comes to the quality of the homes.

Whether it’s your first or your tenth home, we’ll get a home inspection. There’s no such thing as a “perfect” home — we’ll toss that word out — but there are great homes and poorly built homes. Here’s what you’ll look at with a qualified home inspector:

Look at the bones

  • Examine the foundation: look for signs of cracks, settlement, water damage, or poor construction.

  • Inspect the walls, floors, and roof: ensure they are free from any significant concerns by looking for severe sloping or failing tile.

  • Assess the roof to see its overall condition, searching for signs of leaks, missing or damaged shingles, or sagging.

  • Attics needs proper insulation and adequate ventilation. Look for signs of moisture or pests.

Check Out All Critical Systems

Electrical

  • Examine the electrical panel, wiring, outlets, and switches: look for any faulty electrical connections, outdated or unsafe components, or overloaded circuits.

  • Check the grounding and evaluate safety features like smoke detectors.

Plumbing and Water Systems

  • Check behind walls for any leaks, outdated pipes, water pressure issues, or faulty tubs, toilets, sinks, showers, and garbage disposals.

  • Assess the condition and age of the water heater and evaluate the sump-pump.

HVAC Systems (Heating and Cooling)

  • HVAC stands for Heating-Ventilation-and-Air Conditioning. Look at the furnace, air conditioner, ventilation pipes, filters, and thermostats.

  • Look for any signs of improper installation, malfunctioning components, or potential safety hazards.

Walk Around the Outside of the House

  • Evaluate the exterior components of a property, including the siding, windows, doors, and gutters. Look closely for deferred maintenance or damage.

 

What is homeowners insurance?

Homeowners insurance is essential for protecting your most significant investment - your home. In the event of unexpected disasters or accidents, it provides financial coverage and peace of mind.

But what exactly does homeowners insurance cover?

  1. Dwelling Coverage - covers replacement of your home structures (the bones)

  2. Other Structures - used for un-attached parts of your property, ie, a shed

  3. Loss of Use - offers temporary coverage for living expenses while the home is repaired

  4. Personal Property - replaces personal items stolen or damaged up to a coverage limit

  5. Personal Liability - offers coverage if someone else is injured while on your property

  6. Medical payments (if included) - pays for a small portion of medical bills for injury

It’s important to remember that homeowners insurance policies come with coverage limits and deductibles. Coverage limits refer to the maximum amount an insurer will pay for a covered loss, while the deductible is the amount you must pay out of pocket before the insurance kicks in.

What’s excluded from Homeowners Insurance?

Homeowners insurance is essential for protecting your most significant investment, but it's equally important to understand what it typically excludes. While these exclusions may vary between insurance companies and policies, there are a few common scenarios that homeowners insurance typically doesn't cover.

Here are a few key exclusions to be aware of:

1. Flood Damage: Most standard homeowners insurance policies exclude coverage for flood damage. If your property is located in a flood-prone area, it's crucial to consider purchasing a separate flood insurance policy through the National Flood Insurance Program (NFIP) or a private insurer. This specialized coverage offers essential protection against losses caused by flooding, including damage to your home's structure and contents.

2. Earthquakes and Sinkholes: Homeowners insurance policies usually don't provide coverage for damages resulting from earthquakes or sinkholes. These unpredictable natural occurrences require separate policies or endorsements specific to your region. If you live in an area prone to such events, it's wise to obtain additional coverage tailored to protect your home and belongings.

3. Maintenance and Wear and Tear: Homeowners insurance is designed to protect against sudden and accidental damages, not the regular wear and tear that occurs over time. For instance, if your roof starts leaking due to age or poor maintenance, insurance might not cover the repairs. It's important to perform regular maintenance and address potential issues promptly to prevent potential insurance claim denials.

4. Neglected Property or Vacancy: Insurance providers often exclude coverage for damages that occur due to neglect or prolonged vacancy. If your home is unoccupied for an extended period or if regular maintenance is neglected, any resultant damages may not be covered by your policy. If you plan to leave your property unattended for an extended time, it's crucial to inform your insurer and possibly adjust your coverage or seek vacant home insurance.

5. Certain High-Risk Items: While homeowners insurance generally covers personal belongings, it may have limits for high-value items such as jewelry, collectibles, or fine art. Some policies may exclude these items altogether or offer limited coverage. In such cases, it's advisable to acquire separate endorsements or specialized policies that provide additional coverage for these valuable possessions.

Remember, these exclusions are general guidelines, and your specific policy might have additional exclusions or variations. To fully understand what your homeowners insurance covers and excludes, it's crucial to carefully review your policy's terms, conditions, and any endorsements or riders you might have