2023 is here and that means New Year’s Resolutions. What comes to mind for most is eating healthy and exercising more. But did you know there are New Year’s Resolutions when it comes to real estate? Things you have been putting off for a while, it is now time to make them happen. Here are a few examples:
Revisit Your Homeowners Insurance
Many policies in Florida are going up in 2023 and others are being canceled. The new year is a perfect time if you haven’t already started shopping around for new quotes. When price-shopping, check the limits of the plans to make sure you’ll have enough insurance to repair or replace your home or any contents that potentially could be destroyed. You may also want to look into flood insurance, even if you aren’t in a flood zone.
See If Refinancing Is an Option
Rates have gone up drastically in 2022 and it may not be an ideal time to refinance but depending on your situation, it could be. Besides getting a lower rate, there are other reasons you may want to consider refinancing including consolidating debt and obtaining cash to finance new home improvements you are looking to do.
Start Paying Down Your Mortgage
A good New Year’s Resolution is to start paying off the principal of your current mortgage. Adding a little each month to your payment can reduce long-term interest expenses that keep adding up and allow you to pay off the mortgage sooner.
A new year means fresh starts. Consider some of these ideas for your real estate New Year’s Resolutions and should you have any questions, feel free to contact Alliant Title & Escrow at 561-912-0922.
Happy New Year!