GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
Here are some of the top fears of homeowners, according to U.S. News & World Reports2024 U.S.
Homeowner Survey Report, and how to address them.
Also seefive ways to lower the cost of homeownership.
Homeowners Insurance Costs
The price of homeowners insurance is a growing concern for many.
However, there are ways to combat the surging costs.
Charlie also recommending bundling insurance where you’re free to.
Combining policies, like home and auto, can lead to significant discounts, he said.
Its also important to be aware of the area and how that could affect insurance costs.
Be proactive ask about rates before you close on a home to avoid surprises, Charlie said.
This could mean repeated claims, lack of maintenance or being in an area prone to disasters.
But there are ways to prevent this.
Start by knowing your risks does your area flood?
Finally, invest in home improvements like reinforced windows, sump pumps or drainage systems to protect your property.
The peace of mind is worth it.
Cleaning up disasters isnt cheap.
Know your vulnerability, Charlie said.
Research how climate change is affecting your region and prepare accordingly.
Also think about upgrades that can be done to your home now to avoid problems later.
These changes can protect your home while increasing its value.
Its a win-win, Charlie said.
Financial Fears and Hidden Costs
Another big fear homeowners encounter is the financial impact.
Owning a home is a great investment.
That can be a major hit to your wallet.
To address these fears, the key is budgeting, Charlie explained.
Its also important to be aware of these costs before buying, when possible.
Owning a home isnt just about the mortgage its about being prepared for the journey, Charlie said.
With the right preparation and mindset, these fears can be addressed head-on.
More From GOBankingRates
Share This Article:
