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3 expenses people don’t consider when they buy a second home

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As with any home, the costs of a second home don’t stop at the mortgage.

There are a lot of costs associated with owning a second home, and you’re responsible for anything that comes up. You’ve probably considered the costs of property taxes and HOA fees for your second home, and factored those things into your budget when deciding how much you can afford to spend on a second home.

But, there are some expenses you may not have thought of that will apply to your second home. Here are three expenses you should consider before making the leap to a second home. 

You may need to increase your life insurance and disability insurance coverage

If you haven’t considered how owning a second home could affect your life insurance and disability insurance coverage, you probably should. 

Mortgage debt should be factored in when deciding how much life insurance coverage you need. Buying a second home could mean taking on a second mortgage, so you’ll want to make sure that your life insurance coverage is high enough to cover both home payments, if necessary. But, increasing your coverage amount could mean adding to your monthly cost for life insurance.

Similarly, disability insurance can help you pay the bills each month if you become disabled but rely on an income to make ends meet. It can provide a replacement income to pay the bills if you’re ill, injured, or otherwise unable to work. While it’s sometimes offered through your workplace, that coverage often isn’t enough.

“Have enough disability insurance that you can

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Don’t Let Unlicensed HVAC Contractors Make a Mess At Your Home

Although unlicensed HVAC contractors appear to work cheaper than a bonded, insured and licensed air conditioning companies, the long-term risks may not match the promise. The problems are simple yet complex. When homeowners hire HVAC service work from questionable contractors, the typically final experience may end up like this:

  • Inferior workmanship resulting in shoddy equipment performance
  • Incomplete or downright deceitful troubleshooting reports
  • Unreliable A/C services, including substandard A/C installation
  • Unexpected cost increases or poor long-term HVAC equipment reliability
  • AND more.

TIP! Before hiring for A/C install or A/C services in your home, ask the contractor for proof of insurance. Even licensed HVAC pros can make a mistake. But consider the damage an uninsured electrical error can do to your home.

Dealing with untrained back-door cooling and heating service techs may seem like a slick way to save on upfront money, but in a heartbeat such preconceived out-of-pocket savings can explode into a massive financial nightmare. Air conditioning technicians, so-called, who work outside the law also tend to ignore HVAC industry-accepted service and installation regulations. According to ACCA senior vice president of government relations, Charlie McCrudden, such individuals “… take advantage of lax enforcement of permitting rules, licensing requirements, and the Clean Air Act.” Furthermore, Mr. McCrudden says that the government is currently unable to track or control the problem. Too many individuals, McCrudden says, “… are posing as professional HVAC technicians.”

TIP! Get multiple bids before deciding on which HVAC company will install or repair your heating and cooling equipment. Most homeowners know better than jumping on the highest bid, but you should also be wary of any super-low bits.

Choose Reputation Over Low-price Unlicensed HVAC Contractors

In the air conditioning industry, a good reputation is paramount to the word-of-mouth advertising, and word-of-mouth advertising is the core of established customer …

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