Real Estate Blog – Condotron

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09 Mar

Home insurance tips for condominium owners

Posted in Home Insurance on 09.03.12

When you own a single home, the home insurance you will get covers for the structure as well as personal belongings inside the house such as computers, clothes, furniture among others. The scenario is different when you have a condo, the insurance policy only covers the structure and not what is inside your condo unit.

If you are purchasing a condo, make sure you also get an insurance policy that will protect your personal properties inside your home. These insurance policies which protects the content of your condo are not expensive coverages and can prevent loss of your possessions.

Typically you need a content insurance which is about one fifth of the value of your condo. Say your condo unit is worth $400,000 then you need a content insurance of around $80,000. There might be a need for some liability policy to come with the coverage.

Know the requirements

You need to coordinate with your condo association if they require certain policies for owners. Depending on their bylaws, condo associations might impose a certain amount of coverage for individual condo owners. This may apply for other insurance policies they may require as well. Before purchasing an insurance, make sure you or your lawyer checks with the condo board because you need to abide by them.

Flood Zone

If you are in a flood zone, you also need a flood insurance. There are certain states though that require every homeowner to have a flood insurance regardless if they are in a low or high risk area.

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11 Jul

Green Homes Are Going Faster!

Posted in Condos, Property, Real Estate on 11.07.09

green-homes-1_7071Did you know that green homes are flying off the market in this day and age?  To be honest, eco-friendly activists are constantly trying to get the real estate market in shape and if you are trying to sell your home … just adding in a few eco-friendly touches can really make all of the difference.  Now, you are probably wondering exactly what you can do to make your home more sellable to the eco-friendly and green couple.

One thing that you can do is adding in eco-friendly bamboo flooring.  While bamboo flooring is slightly more in the money field, it is something that you can do that really adds a lot of charm to the home and truly does make it eco-friendly.  Another great addition is solar panels and energy-efficient appliances.  These two things are huge for the home buyer and it is something that a lot of home buyers are looking for.

Making your home a little greener will definitely make it sell faster and should really make it all around more appealing!

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