Now that you have a home of your own, it is time to make the most of your new property. Home automation systems allow you to control everything from the temperature in the living room to the shows on the TV. Here are 7 of the best home automation systems for the new homeowner.
1. A Programmable Thermostat
No matter what you use to heat your home, installing a programmable thermostat can save you a lot of money. With a programmable thermostat in place, you can adjust the temperature of your home without sacrificing your comfort.
Just set the thermostat to turn the temperature up or down when you leave for work and set it back to a comfortable level just before you return. You will return to a home that is pleasantly cool in the summer and nicely warm in the winter, and your heating and cooling costs will be significantly lower.
2. A Home Security Camera
Keeping tabs on your home when you are away is very important, and a good security camera can help you do just that. The price of wireless Internet-enabled security cameras keeps coming down, making the devices more affordable than ever before.
Whether you choose a single security camera affixed to the front door or an entire surveillance system that covers the entire property, you will have extra peace of mind when you are away. You can even check on your home while on vacation – all you need is an Internet connection.
If you are new to home ownership, you may not realize just how important estate planning is to securing your financial future and that of your loved ones. Chances are that the roof over your head is one of the most valuable assets you own, perhaps your most valuable asset. That makes your home a vital part of your estate, and that is why it is so important to do start estate planning as soon as possible.
No one likes to think about estate planning. After all, planning for the disbursement of your assets means admitting that you will not be around forever. Even so, it is important to face the facts and think about how to best distribute the possessions you have worked so hard to accumulate, including your recently purchased home.
Estate planning does not have to be a dense or complicated subject. In fact, planning for the disbursement of your estate may be easier than you think. Often the hardest part is getting started, and once you overcome that hurdle you may wonder why you put off planning your estate as long as you did.
One of the most important things to consider when planning your estate is the combined value of the assets held in your name and the name of your spouse. The current exclusions for Federal estate taxes are quite generous, allowing you and your spouse to pass on several million dollars worth of wealth. That is certainly good news, but the news at the state level may not be so good.
Now that you have taken the leap and made the move from renter to homeowner, it is time to take the next steps. Take some time to settle into your new home and enjoy the home you have worked so hard for, but do not neglect the important things you need to do next. Here are 10 things every new homeowner should do.
1. Verify Your Insurance Coverage
Your home is the single most valuable financial asset you own, and you need to take steps to protect it. That means having sufficient homeowners insurance coverage in place in case the worst happens.
Now is the time to review your insurance coverage and make sure it will pay to rebuild your home in case of fire or other disaster. Keep in mind that the costs to rebuild may have gone up since you bought your home, so plan accordingly.
2. Protect Your Appliances
Now that you have a home, you are responsible for all home repairs, including the cost of repairing or replacing a broken stove or refrigerator. Those repairs can easily cost hundreds of dollars, so it is important to protect yourself.
Look into home protection plans that pay for unexpected home repairs and appliance breakdowns. Compare the cost of those plans and determine if buying one makes sense for you.
If you drive a car, own a home or operate a business, you need to have insurance coverage in place to protect your interests. But simply having insurance is not enough – you also need to know what the policy covers and what it does not.
Car insurance, for instance, provides protection from liability in the event of an accident deemed to be your fault. If you carry comprehensive and collision coverage on your car, repairs to the vehicle will be covered as well.
Homeowners insurance is designed to protect your property in the event of a fire or other disaster. The policy will also cover injuries to your visitors and provide liability protection.
Knowing what your insurance policies cover is important, but understanding the exclusions and limitations of your policy is just as important. Here are some key things you need to know about what insurance policies cover – and what they do not.
Your Car Insurance Will Not Cover an Unlicensed Driver
If you let your friend borrow your car, you better make sure that person has a valid driver’s license. Your insurance company will deny coverage if an unlicensed driver crashes your car or causes an accident.
Your insurance company may also not cover the commercial use of your car. If you plan to use your vehicle for business or set up your own taxi service, you need to call your agent and make sure you are covered.