First-Time Homebuyers Q&A: Part 6..
By Heather Faucher | Posted on August 26, 2009 | Filed Under Real Estate
Check out Part 1, Part 2, Part 3, Part 4 and Part 5 of this semi-regular series.
Okay, so what steps can I take to protect my family and myself?
22. WHAT CAN I DO TO KEEP MY FAMILY SAFE FROM LEAD IN THE HOME?
For all houses built before 1978, it’s absolutely crucial to have an inspection for lead-based paint if you have children under 7 years old. Lead flakes from paint can be contained in both the home and the soil surrounding the house, so make sure all potentially dangerous areas are checked. Temporary solutions include repairing damaged paint areas or planting grass over contaminated soil, but a more permanent fix is hiring a lead abatement contractor to remove the lead-filled paint chips and seal all damaged areas.
23. SHOULD I BE WORRIED ABOUT POWER LINES?
There haven’t been any definitive findings in studies that indicate exposure to power lines brings about greater amounts of disease or illness. So the answer is, most likely not.
24. SHOULD I HIRE A LAWYER TO BUY A HOME?
The answer to this depends on what state you’re purchasing a home in, since laws vary. Some states require that a lawyer participates in several different aspects of the home buying process, while others only require a qualified real estate profession be involved. However, even in states that don’t require a lawyer be involved, you may choose to hire one for complex paperwork or legal contracts. Lawyers can review contracts, point out considerations you may not have thought about, and help in the closing project. You should be able to shop around for a reputable attorney who also has a reasonable hourly fee to help you out. In fact, your real estate agent may be able to recommend someone they particularly trust. Just make sure you find one who is experienced in representing homebuyers and not just commercial real estate, as the two can involve slightly different skill sets.
25. DO I ABSOLUTELY HAVE TO HAVE HOMEOWNER’S INSURANCE?
Yes! First, you’ll have to show a paid homeowner’s insurance policy, or a paid receipt, at closing. Secondly, it really is for your own protection. Involving an insurance agent earlier on in the process can save you money, since agents can give excellent tips on home safety and methods for keeping insurance premiums low.
26. SPEAKING OF WHICH, CAN I DO ANYTHING TO KEEP MY HOMEOWNER’S INSURANCE RATES REASONABLE?
Again, absolutely. One important step is to shop, shop, shop! Don’t just sign up with the first insurance company you contact. Make sure you compare both premium amounts as well as differences in insurance coverage. Also think about things like flood plains or construction materials when you’re shopping around for the right house. Newer homes and those constructed of sturdier material like brick tend to have lower insurance premiums.
Looking for information about real estate contracts? Find it here!
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