5 Affordable Investments All Homeowners Need

November 8, 2022

If you’ve recently invested in your first property, there’s no doubt that you’re overwhelmed with pride and excitement; buying a home is an incomparable landmark of financial success.

But even so, you’ll need a few things to keep your property in good condition over the years. So, once you’ve signed the lease and handled the transfer, be sure to look into these five affordable investments all homeowners need. 

A Home Warranty Plan

A home warranty plan is an essential service plan for homeowners that will ensure you can keep up with services and repair needs for all the major systems and appliances in your home. 

These warranty plans provide several worthwhile benefits to homeowners, like direct access to a network of professional repair services, absolute convenience, great value for money, and, of course, peace of mind. But beyond these, you’ll be able to manage your budget a lot better because home warranties help with property maintenance and repair costs. 

You’ll also enjoy some invaluable benefits, like unlimited service calls and no more trouble with repair service providers. You can find out more about home warranty plans here

Property Insurance

Property insurance is undeniably essential for all homeowners. This type of insurance policy will help you cover the costs of damages to your home in certain instances, like bad weather and fire or lightning damage. Moreover, it’ll also pay you out for unfortunate instances like home break-ins and theft, explosion, vandalism, damage caused by any kind of civil commotion, and even damage caused by vehicles.  

But be sure to evaluate the different levels of coverage because all policies are not created equally; some require that you purchase flood insurance separately. 

A Property Maintenance Plan

Next, you must create a detailed home maintenance plan that includes essential chores throughout the year. Some maintenance chores must be done to prepare your home for winter, such as insulating pipes, clearing gutters, and opting for a roof inspection, while others are essential for summer, like tending to the yard, repainting, and others. 

Custom Home Security

Beyond maintenance and repairs, it’s also essential to have your property secured and monitored by a reliable security company. Often, it’s best to opt for a custom home security installation that considers the particular specifics of your property. 

Home security will also reduce your property insurance premiums and assist with the payout process for claims made due to theft and intrusion. But even so, there are so many security companies out there, so it’s essential to compare service providers before opting in. 

Once you have installed a home security system, there are also a few inexpensive ways to add to your home’s security, like practicing safety-conscious habits. 

Fire Alarms and Smoke Detectors

If your home doesn’t have these essentials already, it’s crucial to have them installed at key points throughout your home. Fire alarms and smoke detectors can be life-saving installations, and your home insurance policy might insist you have these devices for the same reason. 

That said, it’s also vital to test your fire alarms and replace the batteries in the smoke detectors every six months as part of property maintenance. 

Aside from the excitement of purchasing a new home, it’s vital to ensure you have everything in order in terms of safety, your budget, and your expenses.

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