There is no telling when home appliances will malfunction, or systems will unexpectedly falter. This makes having a safety net for these appliances a necessity. This is where home warranty plans come into play. These plans are designed to provide financial security to homeowners. They offer a buffer against the inevitable wear and tear on property. The average coverage cost of the home warranty plans can amount to $250 to $600 annually. What is a home warranty? A home warranty is a contract of residential services that covers the cost of maintaining appliances and household items for a specific period of time. It is important to note that a home warranty plan or home appliance warranty plan is different from a homeowner’s insurance or structural warranty plan. It is often advised to buy a home warranty plan when purchasing an old property, especially when there is little information available about the appliances. How does it work? As the name suggests, a home appliance warranty covers damaged appliances and system repairs. The warranty company works with a network of home service providers. Once a claim has been received, the warranty company sends one of the providers to assess the damage. This partner provides a report to the company. What is covered? The report received by the warrantor helps determine the potential cause of the damage and the extent to which it has affected the appliance. The company will then confirm whether or not its contract provides coverage for the kind of damage suffered by the system or appliance. If the claim is approved, the warrantor sends back its partner professional for the repair and replacement. Most home warranties provide coverage for stoves, water heaters, and refrigerators. They may also cover systems like electrical, HVAC, and plumbing. Before signing up, one should check the plan to see if it also covers garage door openers.

If you purchased or are planning to purchase a home, you may have wondered what a home warranty covers. A home warranty can save you money when any systems and appliances break down, preserving your home and budget. However, it doesn’t cover every element of your home. Some aspects that a home warranty doesn’t cover, like leaky roofs and cosmetic damage, are listed below. Scroll down to uncover the limitations of a home warranty plan. Walls, doors, and windows A home warranty usually doesn’t cover walls, windows, and doors as they are considered structural elements. However, based on the age of your home, these items will be covered by a homeowners insurance policy or builder’s warranty. Cosmetic damage If the damage, like scratches or dents, is caused by natural wear and tear over time, it is the homeowners’ responsibility, not that of the warranty provider. Pest damage Home warranties are not designed to cover and repair/ replace the damages caused by pest infestations like rodents or termites. Leaking roofs A home warranty doesn’t cover leaking roofs since this is a structural problem. Hot tubs and swimming pools Pools and hot tubs are some things not covered under a home warranty, but certain companies might extend their coverage at an additional price. Sprinkler and septic systems Water-related systems, such as sprinklers and septic systems, are excluded, but a manufacturer or installer can guarantee their protection. Installation of new equipment When you replace a home appliance, it may necessitate structural changes according to new building codes. However, home warranties won’t cover any modifications when installing new replacement equipment. Pre-existing problems Home warranties are unsuitable for systems and appliances with existing issues before you get the coverage. Typically when you sign the Home Warranty Service Agreement, these elements should be in good condition.

It is easy to fall in love with your dream home, but if you have lived in a particular space long enough, you might know that the structure isn’t everlasting and may wither with time. However, it’s not always easy to tell if a home needs to be remodeled, as some issues could be fixed with a simple coat of paint. Five signs that suggest your home requires a revamp are listed below. Floor damage Having strong and sturdy floorboards in your home is essential to move around safely. However, if they start to detach and carve a hole into the ground, it might be a sign to remodel the space. One could hire a professional to get the job done. Moreover, replacing tiled flooring with wood-based options could help it last longer. Even if you have a carpet cleaned by a professional at regular intervals, it is advised to replace it every ten years. Leaky roofs The roof of a home needs to be in prime condition to protect the interiors from extreme weather conditions. Minor leaks could be fixed with a DIY kit or a professional’s help. However, if it starts to leak in more than one location, it’s time to get it replaced or remodeled. Need of additional space If your family has grown since you first purchased the home, you may notice that the space is more cramped than it used to be. Such situations require hiring a professional to help plan and improve the home’s layout. Doing so will help make it more spacious to accommodate all family members. Pest infestations If you see pests in and around your house regularly, it could be a cause for concern. These rodents or insects may burrow in the gutters or attic, damaging the home space. Further, this may also affect the overall structure of your home.

It is easy to fall in love with your dream home, but if you have lived in a particular space long enough, you might know that the structure isn’t everlasting and may wither with time. However, it’s not always easy to tell if a home needs to be remodeled, as some issues could be fixed with a simple coat of paint. Five signs that suggest your home requires a revamp are listed below. Floor damage Having strong and sturdy floorboards in your home is essential to move around safely. However, if they start to detach and carve a hole into the ground, it might be a sign to remodel the space. One could hire a professional to get the job done. Moreover, replacing tiled flooring with wood-based options could help it last longer. Even if you have a carpet cleaned by a professional at regular intervals, it is advised to replace it every ten years. Leaky roofs The roof of a home needs to be in prime condition to protect the interiors from extreme weather conditions. Minor leaks could be fixed with a DIY kit or a professional’s help. However, if it starts to leak in more than one location, it’s time to get it replaced or remodeled. Need of additional space If your family has grown since you first purchased the home, you may notice that the space is more cramped than it used to be. Such situations require hiring a professional to help plan and improve the home’s layout. Doing so will help make it more spacious to accommodate all family members. Pest infestations If you see pests in and around your house regularly, it could be a cause for concern. These rodents or insects may burrow in the gutters or attic, damaging the home space. Further, this may also affect the overall structure of your home.

As you approach retirement, most of your money has been invested in your home. A reverse mortgage is an excellent way to tap into your home’s equity. If you have paid off a home loan or have only a small amount to be paid, it is a good option to meet various financial goals. Here are the criteria for reverse mortgage eligibility: Personal criteria Age You must be 62 years or older, to apply for a reverse mortgage. Generally, as you grow older the Home Equity Conversion Mortgage (HECM) amount increases. Property The home should be your primary residence, and you need to live there for the entire duration of the reverse mortgage. Rental properties and vacation homes do not qualify for such mortgages. Home equity You should be the owner of your home outright or possess a minimum of 50% home equity. There is a possibility that you may qualify for a reverse mortgage despite having some outstanding balance on your existing home loan. However, the criterion is that you must first pay off the remaining mortgage from the sanctioned amount and meet other liens. The balance funds may be used for any other purpose. Using a reverse mortgage to refinance existing debt is beneficial in reducing your monthly cash outflows. The home equity requirement varies from one borrower to another and is based on your individual situation. If you are younger and the only titleholder to the property, the home equity required may be more than 50%. We recommend using a reverse mortgage calculator to understand the requirement. Counseling Meeting with a Housing and Urban Development (HUD) Department-approved counselor is mandatory. The counselor will help you understand all about a reverse mortgage and all the associated expenses. This is to ensure you completely understand the terms and conditions and are familiar prior to applying for the mortgage.

Buying a home comes with a lot of responsibilities. There are a lot of risks that come with owning a home like the risk of theft and property damage. Investing in the right kind of home insurance policy is important so as to be financially prepared for these risks. There are several different companies in the market that offer home insurance policies with different kinds of terms and coverages. Remember the following points before choosing a home insurance policy. Explore your options As mentioned earlier, there is a wide variety of home insurance policies available to homeowners at this time. When selecting one, it is important to consider factors like what potential risks are being covered in the policy. It is also important to consider the company’s record in your area, whether they are reliable as insurance providers, and their response time. Ask about discounts Home insurance policy in 2021 offers additional services and discounts. They may offer discounts on additional safety installment services such as installing an alarm system, smoke alarm, or better locks. There may also be certain offers for old and retired personnel as well as some discounts for policies when taken via your employer’s or organization’s reference. Moreover, if you already have some policies with an insurance company and have been their customer for years, you may also be eligible for some loyalty discounts. Types of homeowners coverage Homeowners insurance can offer coverage in different forms. Some policies or companies offer actual cash value for the damages to the home or its belongings. Some companies deduct a certain amount from this actual cash value based on the current value of an item or belonging. Other companies also offer guaranteed (or extended) replacement cost/value, that is, payment of the full amount required to repair or rebuild your home.

Who wouldn’t want their teeth to be sparkling white? They’re not just a sign of proper oral hygiene, but they also look stunning! Our teeth tend to yellow with age for a variety of reasons, including poor dental care, smoking, genetics, and drinking caffeinated beverages such as coffee and tea. Here are seven teeth whitening remedies that do not require the use of any dangerous chemicals and can easily be done at home: Oil pulling Oil pulling as a teeth whitening method has been used in some parts of the world for centuries. For this procedure, swish the oil in your mouth. Oil pulling may be done with any oil, although sunflower and sesame oil are the most popular. Coconut oil is also a popular choice since it helps remove a variety of germs from the mouth. These bacteria produce plaque, which makes your teeth appear to have a yellow stain. Some people claim that practicing this method makes teeth whiter and improves general health. Apple cider vinegar (ACV) ACV acts as a natural antibacterial and gum cleanser and removes stubborn stains on teeth. ACV is particularly effective in removing stains caused by common irritants such as coffee and tea. ACV contains ingredients such as acetic acid, potassium, magnesium, probiotics, and enzymes that destroy germs while promoting the growth of helpful “good” probiotic bacteria. As it’s naturally acidic, it aids in the removal of plaque and other debris stuck between the teeth. Apple cider vinegar’s pH can help you whiten your teeth naturally by eliminating stains. Rinse your mouth with diluted ACV to clean your teeth. Rinse with ordinary water a few times after washing with this combination. It has also been discovered that this acid might erode tooth enamel; thus, it is not suggested for daily use. Fruit peels This treatment, similar to oil pulling, does not have any scientific evidence to back it up.

Buying a house is a big step, no doubt. Since it is a long-term and expensive investment, it requires proper planning and analysis. One should only take out loans after careful research to ensure financial stability. As applying for loans is time-consuming, rushing through paperwork can lead to negative results. One can avoid most such mistakes with better planning and execution. Here are a few common mistakes to avoid when seeking a home loan. Not monitoring credit score Maintaining a healthy credit score before applying for any loan is important. Poor credit or a bad repayment history will lower the score, disqualifying the borrower from beneficial home loan schemes. A credit score of 700 or more can qualify for preferred loan terms and options from the best banks. If the score falls behind 700, take care of any prior settlements or written-offs by paying them back to establish a good record. Making these changes may take time, so always plan before applying for the loan. Overestimating the repayment capacity When estimating their repayment capacity, people frequently ignore their monthly expenses. Financial difficulties may arise from high monthly expenses and a loan with a high EMI. It is advised that EMI payments should not exceed 30-40% of one’s salary. Try not to rely on future events, such as an increase in income, when choosing a bigger loan. Always consider the current expenses and financial state before buying an expensive home or submitting a loan application. Use a home loan EMI calculator or a bank service to determine the best EMI. Lack of research Due to increased demand, home loans are now widely available from various financial institutions. Therefore, extensive research on various subjects should be done before applying for a loan. Before making a final decision, home buyers should consider their needs, create a budget, review terms and conditions, and look for hidden charges, processing fees, and flexible repayment options.

The process of securing a home loan can be both exciting and daunting. A home loan is a noteworthy financial investment that requires careful consideration and meticulous planning. Unfortunately, many make mistakes during application, leading to costly consequences in the future. This is mainly the case with first-time homebuyers. Here are a few common pitfalls to avoid when applying for a home loan to ensure a smoother and successful application experience. Neglecting the credit score One’s credit score is a vital factor in securing a home loan. Failing to check and improve this score beforehand is a mistake. Lenders heavily rely on this metric to assess the borrower’s creditworthiness. Individuals should take the time to review their credit reports, rectify inaccuracies, and work on boosting their scores before initiating the application process. Overlooking pre-approval Getting pre-approved gives a clear picture of the loan amount one qualifies for and reassures sellers that the buyer is serious and financially capable. By bypassing this step, applicants may find themselves in a weaker negotiating position or even risk losing out on their dream home to a more prepared buyer. Ignoring the importance of a down payment While many loan programs have low down payments, experts recommend paying a significant sum upfront. A larger down payment reduces the overall loan amount, leads to lower monthly mortgage payments, and offers more favorable interest rates. Overlooking this aspect can lead to higher costs in the long run. Not shopping around for lenders Settling for the first bank or financial institution can be a costly mistake. The terms, fees, and interest rates vary from one lender to another. By not comparing offers from multiple sources, applicants may end up with a loan that doesn’t align with their financial goals. Shopping around and getting quotes from different lenders can help save money over the life of the loan.

While the progress of technology has led to many favorable outcomes, it has also increased opportunities for crime. The term ‘home theft’ used to refer to break-ins and robberies; now, it refers to scammers using technology to commit real estate fraud and steal home title deeds. This can land people into high amounts of debt, lead to foreclosure, or damage their credit scores. So, here are four ways to protect oneself from home title theft: Keep track of mail The post is addressed to one’s registered address. If one stops receiving important posted mail such as credit cards or electricity bills to one’s home, it may be a sign that someone has changed their address. One must keep a careful eye on the mail and report any suspicious activity. Monitor credit reports Everyone can receive one free credit report annually from the three major credit bureaus – Equifax, Experian, and TransUnion. Tap into these resources regularly and monitor the reports and credit scores. Watch out for any suspicious new accounts that may have been created or any unauthorized activity on pre-existing accounts. These steps can help one recognize dubious activity and flag it promptly. Invest in title insurance One must also get coverage for the owner’s title insurance policy. This can help protect one in case any liens or claims are filed against the property they own. Title protection services may also be of interest to some people. Please vet these options carefully before choosing a plan. Be cautious with personal information Home title theft requires a great deal of personal information. Those with compromised data may be at higher risk for these scams. Thus, exercising great care with one’s personal information is important. Take the following precautions to keep personal information safe: Shred unwanted documents containing personal information, such as bank statements or bills.

A vacation home, if rented out when not in use, can be a great source of income for homeowners. It can help them pay the mortgage with the rental money, and they can share the experience of their relaxing home with others. Renting out a vacation home comes with many challenges and can cost owners money if certain legalities and processes are improperly handled. So, here are a few mistakes to avoid when renting out a vacation home: 1. Poor communication A mistake that all vacation homeowners must avoid is not communicating properly with potential guests. Discussing expectations regarding living arrangements with the guests and managing their expectations with an open communication line or by ensuring a message flow becomes easier. It can be frustrating for guests if a vacation or rental property owner is not readily available to sort out their issues regarding their stay. This can increase the property owner’s chances of being left with negative reviews. 2. Lack of maintenance When property owners ignore the importance of regular maintenance, they add to the long-term consequences they might have to deal with. It is important to take care of any repairs and maintenance needs promptly, as leaving them unattended can call for bigger repair bills. Lack of maintenance can also cause the property to decrease in value and increase the number of guests who leave with unsatisfactory experiences. 3. Lack of detailed rules When guests come in to use the property, one of the crucial things is to lay down a set of clear house rules. In fact, it is imperative for homeowners to have an iron-clad rental agreement in place. Putting forth detailed rules and comprehensive guidelines can bring about a better experience for both the guests and the owner. The lack of guidelines can leave space for conflicts and misunderstandings and even cause potential damage to the property.

Taking out the trash, although not particularly pleasant, is an essential and fairly simple chore. However, the task can quickly become messy if the waste is not handled properly. So, using the right trash bags and waste bins in the right way is important to avoid leakage and odor in the home. So, to make the chore seamless, one may want to avoid the following mistakes while using trash bags at home: 1. Choosing the wrong size Opting for trash bags that are the same size as the garbage can might seem like the obvious choice, but it can be a mistake. For starters, if there is too much waste in the bag, the contents will slip out of the bag and accumulate at the bottom of the can. So, one should always choose a bag that is slightly larger than the can, so that it can be easily folded along the edges of the can. 2. Not securing the bag Even if one uses a large-sized trash bag, it can still slip off the edge of the can if one throws trash with force into the bag or if there is too much garbage in the bag. With the bag slipping off the edge, it will make a mess when one tries to take the trash out. To avoid this, one should secure the trash bag properly to the edge of the can using hooks, rubber bands, or duct tape. 3. Forgetting to check the bag Trash bags can easily develop tears and holes, either due to a manufacturing defect or mishandling during packaging. Alternatively, dumping sharp objects such as broken glass, pencils, or tools like scissors in the trash can also tear the bag, resulting in the trash spilling out of the bag. So, one should always inspect the bag while putting it in the can as well as when taking it out to minimize mess.