Don't overlook other expenses, such as

Buying a home is a long, exhausting process which is often overwhelming. If you are a first-time homeowner, the process can be especially trying, as you
have no idea what to expect. Part of this process includes having a home
inspection completed (usually required for financing), and deciding if the home
you've chosen is a suitable option. It is a common misconception that a home
inspection alone will protect you against the loss of funds should components of
your new home need replacement. This isn't true. Read on to discover the
difference between a home inspection and a home warranty.

What is a Home Inspection?

Often required by mortgage companies Alex Mack Color Rush Jersey , a home inspection acts as a snapshot of the home you'd like to buy on THAT day. The average inspection costs around 0, and is based
upon the square footage of the home being inspected. Included in your closing
costs when financing, this expense is often unavoidable.

The main purpose of the inspection is to allow the buyer to make an educated decision on
the property in question. The process is not as detailed as one would imagine,
and the vast majority of home inspectors do not guarantee their findings. The
inspector offers a visual assessment of the primary components of the home to
determine if major defects exist.

However, inspectors will not test or view things in off weather. That means if you buy your home during a snowy
December Vic Beasley Jr Color Rush Jersey , the air conditioner will not be turned on for inspection, neither will a frozen or snow-covered roof be inspected. If
something breaks or malfunctions, your home inspectors will not cover the cost
to repair or replace that item, even if they declared the broken item fine.

The home inspection is a way of ensuring you are making a solid investment, that major components of your home are in working order Matt Ryan Color Rush Jersey , and there are no considerable safety issues.

What is a Home Warranty?

A home warranty, on the other hand, acts as a safeguard for your investment... picking up the slack your homeowner's insurance
will not cover. Protection against everyday life, your home warranty will cover
the items that receive constant wear and tear. So, if your dishwasher
self-destructs in a soapy mess Devonta Freeman Color Rush Jersey , without a home warranty, you would have to repair or replace your dishwasher out of pocket. A home warranty should be a
fundamental part of the home buying experience. It's a yearly expense that can
save you thousands in the long run.

Add Up the Savings

Home ownership is not for the faint of heart; it can be expensive and aggravating.
Preparing for the inevitable can save you time, money, and headaches in the long
term. If you have trouble justifying the cost of a home warranty, consider what
you can afford to fix without one. A new heater or air conditioner averages just
under  Julio Jones Color Rush Jersey ,000, if they break at the same time could be a ,000 expenditure.

Depending on the time of year eitherboth break, you could have to replace them immediately with no planning. Homeowners without a hefty
emergency fund could be forced to rely upon credit cards or a loan to cover such
a large expense. Whatever the home warranty cost it is a purchase that will
improve your life as a homeowner, and make the experience a great deal more
enjoyable.

Choose the Right Plan

The best home warranty will work with your budget and fulfill your needs; this means that doing your research on
what systems and appliances are covered under a plan is an integral step in the
shopping process. Whether you are a first-time buyer or a seasoned
homeowner Black Tevin Coleman Jersey , there is a home warranty plan crafted to suit your needs.

About Home Service Club

The Home Service Club is one of the leading home warranty providers in the United States. They offer a variety
of plans and coverage in 49 states while providing prompt, effective repairs and
maintenance to keep your home running smoothly. Access your account with ease
via mobile and online management, and enjoy the ability to file a claim 247
online.

Finance > Insurance > Home InsuranceFive Easy Steps to Owning Your Own Home
Posted by nick_niesen in Finance on November 8th, 2010

Buying your own home is one of the largest purchases you will ever make. What should you do to get ready?

The key to a successful home purchase is making your choice through your finances, not your emotions. This takes research and patience. Here are five
steps that can help you make a good decision.

1. Decide how much you can afford.

You should look at your finances in order to determine how much you can afford to spend on a home. Look at your income Black Austin Hooper Jersey , assets and current debt level. You aren't looking at what percentage the lender says you can afford, you are looking at what your
finances dictate. If your lender says you can spend $1,200 a month, but you know
you are struggling with a rental of $1,000 a month Black Deion Jones Jersey , you probably know that you don't need any more than you already have.

You should also consider the down payment and closing costs. Lenders are usually looking for a 5% to 20% down payment.

Don't overlook other expenses, such as property taxes and homeowners insurance. Your total interest, principal, taxes and insurance payment should
not exceed 28 percent of your gross monthly income according to lenders. Your
total monthly debt, including your mortgage Black Keanu Neal Jersey , autos, student loans and credit cards should be under 36% of your gross income.

You don't have to have a house in mind before you apply for a mortgage. It is a good idea to be pre-approved when you are looking for a home It will give you
the security of knowing that you have funding and the buyer will know you mean
business.

2. Look for what you want.

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