9 Ways To Lower the Cost of Homeowners Insurance

When buyers are figuring total monthly housing costs, it's easy to obsess over the purchase price, interest rates and points. Some other expenses like homeowners insurance can get overlooked. NerdWallet.com suggests these nine ways to save on homeowners insurance.

1. Raise your deductible.
2. Make your home more secure.
3. Skip small claims that will drive up your deductible.
4. Ask about lesser-known discounts for such things as non-smoking residents.
5. Account for large and small home improvements.
6. Bundle your auto and home insurance.
7. Build your credit score.
8. Be aware that swimming pools and trampolines increase premiums.
9. Shop around.

Millennials Drawn to "Agrihoods"

"Agrihoods" have recently been sprouting up all over the country. This growing trend combines residential neighborhood living with a shared farm or communal gardens. Agrihoods attract residents who care about environmental sustainability. They also offer residents access to farm-fresh produce grown in their own neighborhood.

The farms are typically managed by professionals, so residents can enjoy fresh produce without having to be farming experts. Some communities require residents to volunteer periodically, while others build fees into HOA dues to cover farming expenses. But these fees may be nominal compared to increases in property values that come from proximity to green space.

The agrihood lifestyle is popular among millennials, who have embraced the farm-to-table trend, along with upscale housing and amenities that typically accompany planned communities. High-end houses, healthier lifestyles and unique educational opportunities for young families make agrihoods an appealing option for this generation. With more than 200 agrihoods in the United States, look for this trend to continue growing as millennials gain even more prominence in the housing market.

Getting Your House Ready for the Spring Market

No matter where you live in the United States, the spring real estate market is about to heat up! According to TheBalance.com, "The largest number of buyers are actively searching for a new home during April, May and June." Longer daylight hours and nicer weather bring people out to leisurely tour homes. Some may be on a tight timeline to close on a house and move in right after the school year ends. Whatever the reason, show them how your home can meet their needs. Consider these tips to prepare your house for the spring market.

Impress buyers before they set foot in your house. Great curb appeal grabs attention and can set the mood for a positive home tour. Spruce up the yard by planting flowers and trimming bushes and trees. A new mailbox, clean walkways and well-manicured landscaping establish a welcoming tone. Be sure outdoor lighting is in working order in case buyers decide to check out the neighborhood in the evening hours.

As people tour your home, they should notice the house, not your belongings. Declutter and remove personal items to help potential buyers envision themselves living in the space. If possible, have the house staged by a professional. According to a survey by the National Association of Realtors^®, 82% of buyers' agents noted that home staging "made it easier for a buyer to visualize the property as a future home."

In preparation of your home inspection, make sure maintenance issues are corrected. Have a professional check your HVAC system and address any plumbing problems. Make sure appliances are in good working order, fix any cracks in drywall and repair or replace roofing if necessary. Everything should be in prime condition to help your house stand out in the competitive spring market.

Unexpected Things That Can Affect an Appraisal

Consider these often overlooked factors that can negatively impact your home's appraised value.

Floor Plan
Older homes often have unusual floor plans that don't align well with the way people live today. Buyers tend to prefer modern, spacious layouts and may be turned off by plans that require walking through one bedroom to access another.

Location
A house located in a less populated area may appraise lower because there simply aren't enough comparable properties that have sold recently. Similarly, a property in close proximity to an eyesore (poorly maintained or vacant house) or earsore (train tracks) may negatively affect the appraisal.

Remodeling and Additions
Home improvements completed without the necessary permits can also hurt an appraisal. For example, a finished addition may not be counted as living space by the appraiser if it's not up to code.