There are a lot of pros and cons of both renting and home ownership. But, if you’ve been considering buying a home, now is the time to do it for these reasons!
Buying Is Still a Good Investment
Historically, buying a home has always been one of the best investments you can make – and that hasn’t changed a bit. Why waste money on rent when you could own your very own home? Choose the area wisely and you can always sell at a big profit later, or rent it and live off of the rent. Even if your home purchase doesn’t end up rising in value, it will still be your home. Calculate how much you’d spend on rent without having anything to show for it!
Interest Rates Won’t Stay Low Forever
The interest rates are in your favor right now for buying a home. The average for 30 year mortgages is 3.91%, compared to 6% now that long ago. These low interest rates aren’t going to last forever, so act now if you can.
Rent Rates Are Increasing
Even though mortgage interest rates have dropped, along with home costs, the price of rent is steadily increasing. How much longer can you afford to pay high rent?
You Can Deduct the Mortgage Interest on Your Taxes
America favors home owners, and this extends to taxes as well. You can deduct interest from your mortgage on your taxes, so long as you itemize it. And there may be other tax benefits too, like deductions for your insurance and property taxes.
If you decide to rent a moving truck and drive it yourself during the move, in the event that you have an accident, it is highly unlikely that your insurance would cover the cost of damages incurred. In light of this, getting movers insurance is important as it picks up on the shortcomings of your insurance policy. Unfortunately, numerous auto policies fail to cover rental vehicles, even more unfortunate is the fact that many people recognize this after the fact, as opposed to doing adequate research into the allowances of their policy before they actually rent a vehicle. Here, the four main supplemental types of supplemental insurance policies will be discussed.
Supplemental Liability Insurance
Supplemental Liability Insurance (SLI) refers to an insurance policy which protects the insured and their property from damage claims made against the insured by other parties. The general amount up to which the policy may cover is one million dollars, however, the terms and conditions of the policy generally include many exclusions. In light of this, be sure to read the policy thoroughly and determine whether you are interested in contracting. Auto Tow Protection
In the case that you are using a trailer or dolly to tow your vehicle, the Auto Tow Protection plan may be the right plan for you. This insurance policy covers against most forms of damage, including: fire, explosion, collision, vehicle overturn, among others.
Personal Accident and Cargo Protection Plan
This category of movers insurance protects the insured, which is supposed to be the driver of the truck and the items in the truck from injury and damages which are covered under the policy’s list of causes. However, this plan does not cover damages which may be caused by burglary, theft, or even the shifting of items being moved; furthermore, the clauses generally have numerous exclusions and are confined to non-commercial customers.
Damage waivers operate to relieve the policy holder of certain financial responsibilities concerning the theft or loss of items in the truck, or damage to the rented truck or the towing trailer. Damage waivers may be categorised as Personal Damage Waivers (PDW) and Limited Damage Waivers (LDW). Personal damage waivers exonerate the renter of any liability, while in Limited Damage Waivers will only require the renter to cover the first $500 of damages incurred.
When you start looking for moving companies online, you will quickly realize that there are two types of movers: local movers and big national moving companies. What is the difference and which is better for your move?
Local vs. National Moving Companies
Local movers are smaller, locally-based moving companies. They are often cheaper than the big national companies, and the customer service will probably be a lot better. However, moving equipment isn’t cheap. So, not as many small local moving companies are going to have the same resources as the national companies – such as hydraulic lifts, various sizes of trucks, and dollies.
There are a lot of major names in national moving companies (a quick google search for moving companies will reveal the top ones). Be warned that, just because a national mover has a good reputation, it doesn’t always mean that the local chapter is just as reputable. Many of the local branches of the big moving companies are franchises and their level of service may not be as great.
Which Should You Choose?
Not surprisingly, it is usually best to hire a local moving company when you are moving locally. The local movers can offer better rates for the move, and they are familiar with the area so you don’t have to worry about trivial issues like them getting lost. However, do make sure to do your research. Check that they are licensed and insured, because many states don’t even require USDOT licensing for local moves.
When moving long distance, there are a lot of variables to consider. In these cases, it may be better to choose a big national moving company . The long distance move will probably be a lot cheaper with these companies because they can offer freighting services. They will load up your belongings with belongings from other people going in that direction. Since the cost of the truck, drivers, and fuel is shared between multiple customers, the costs are lower. This is not something that local moving companies can offer.