A new study from Chubb finds that while homeowners are nearly unanimous (90%) in saying they are “vigilant” or do an “okay job” at home maintenance, their responses tell a different story when it comes to water damage prevention, the number one cause of property-related claims.
Luxury home sales continued their record-breaking pace in July, as prices hit double digit gains in 19 major markets, according to the Realtor.com 2018 Luxury Home Index. Additionally, the number of sales at or above the $1 million mark rose 13% over last year.
Insurance Companies Can Attract New Client by Advertising Discounts to Homeowners Who Make These Improvements
“With home-improvement season in full swing, this is the time of year when you might make upgrades that can protect your home from burglaries, fires, and storms, such as hurricanes and tornadoes. According to Consumer Reports, if you take steps to make your home safer, your homeowners insurance company could reward you with a premium discount, depending on what you’ve done.”
Median rent is appreciating more quickly this spring than last in 27 of the 35 largest U.S markets, according to the May Zillow Real Estate Market Report. In some of the nation’s most expensive rental markets, median rent is appreciating more slowly now than last spring. In Seattle, for example, where annual rent growth has been among the highest in the country, rent appreciation has slowed from a 5.8% annual growth rate last spring, to a 3.3% annual growth rate now. A similar trend holds true in Los Angeles, Portland and Boston.
At a time when Americans’ lives are busier than ever and to-do lists feel never ending, organizing makes homeowners into masters of their universe; a staggering 95% of homeowners say they feel when their home is organized that their life is organized, according to a new MasterBrand Cabinets home organization survey. The nation’s leading cabinetry manufacturer conducted a survey of more than 1,000 U.S. adult homeowners ages 25-65, revealed today.
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to pay close attention to their property’s landscaping as it could have a major impact on value. In fact, a well-landscaped home can add approximately 6 to 13% in value compared to a property with no landscaping, according to one source.
Budgeting for monthly expenses like groceries and utility bills is a no-brainer, but according to a new study conducted by Liberty Mutual Insurance, Americans aren’t budgeting for essential home or car maintenance. The research found that the majority (80%) of homeowners and (74%) of auto owners don’t have a plan or budget in place and tend to procrastinate or deal with home and car maintenance issues as they arise. In fact, almost half of Americans (48%) have less than $1,000 saved for home maintenance issues or repairs and one in three have no money saved. When it comes to auto maintenance, the majority of Americans (60%) are saving less than $500 and more than one-fourth aren’t setting aside any money at all.
Nationally, 13% of surveyed consumers are ready to buy a luxury home and another 26% are considering a high-end home purchase, according to a new survey from Realtor.com. Sellers, builders, and realtors should pay particular attention to desired luxury amenities such as chef-quality kitchens, as 54% of luxury buyers indicated a chef’s kitchen as an important feature.