Sunrise Homes & Renovations, Inc.

Condo Damage Caused By Contractors Hired By The HOA: Who Pays?

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Condo Damage Caused By Contractors Hired By The HOA: Who Pays?For those who live in a condo, they know that there are numerous advantages that come with this living arrangement. Living in a condo means that other people are going to be responsible for landscaping and common areas while homeowners are still able to build equity in the home.

At the same time, the HOA has quite a bit of power and one of the biggest concerns that people might have involves who pays for the damage in the event that something in the building has been damaged. There are a few important points to keep in mind.

Roof Replacement Contractors

Sometimes, the HOA might hire contractors to work on the roof. During this process, there might be a leak that develops in the roof. This could leak through and damage condos that are on the top floor of the building. This could damage the kitchen ceiling. The association might try to get out of paying to fix certain damages.

It is important to note that those who live in a condo building buy into everything that goes along with ownership. This includes the management and the contractors that are hired by the manager.

Read The Document Carefully

When people move into a condo building, there are certain bylaws they agree to follow. Sometimes, this packet might state that the unit owner is responsible for any damage to a unit that is caused by the association. The bylaws usually state something along the lines of “unit owners need to have homeowner’s insurance.” In this case, the insurance carrier should help the unit owner cover some of the costs of the repairs.

If the condo docs are drafted in this manner, then the unit owner is responsible for the repairs even though the contractor caused the damage.

File An Insurance Claim

While this might not sound like a perfect solution, the unit owner might still not have to pay for the damages. This is why unit owners need to have home insurance. The next step should be to file a claim with the home insurance company. This claim might be able to cover the cost of the repairs that were caused by the contractors hired by the HOA.

The Top New Power Tools For Home Improvement Projects Currently On The Market

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The Top New Power Tools For Home Improvement Projects Currently On The MarketFor many people, their home is the most important investment they will ever make. Therefore, it only makes sense that people will want to spend time improving their house. Sometimes, they simply want to make a nicer place to live.

In other cases, they might be looking to raise the value of their home. Regardless, it is important for people to think about the power tools they are going to use to get the job done.

The right tool could make the difference between a successful project and having to hire someone else. There are a few tools on the market that every homeowner should consider.

A New Power Drill

This is usually the first item on the list when it comes to a home improvement project. While many homeowners probably already have a power drill, there are a few new models that have reached the market. Take a look at some of the top brands and look at their latest models.

Sometimes, they have removable drill bits for specialized tasks, different power settings, and could even reverse the direction in which they spin. This is important for every home improvement project.

A Circular Saw

This is one of the most important saws that everyone should have when it comes to a home improvement project. When it comes to this saw, safety should always come first; however, these saws are popular because they can slice through thick materials with ease. They come both with and without a cord. When it comes to strength, a circular saw is tough to beat. They are ideal for working in tight spaces.

A Cordless Screwdriver

While a screwdriver is a traditional tool for home improvement projects, a power screwdriver is ideal. A cordless option takes the effort out of most tasks and makes it easier for someone to complete home improvement tasks in a short amount of time. They can even spin in both directions, making them useful for both tightening and loosening screws.

Find The Right Power Tools

These are just a few of the top power tools for home improvement projects. Everyone must take the time to find the right power tools for their next home improvement job.

Buying A Home: You Might Be Able To Skip The Home Appraisal – But Should You?

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Buying A Home: You Might Be Able To Skip The Home Appraisal - But Should You?When someone is thinking about buying a home, one of the key parts is the home appraisal. The appraisal ensures that the buyer is paying a fair price for the home while also protecting the mortgage lender against taking a loss.

On the other hand, an appraisal is also an added cost of the buyer can be a serious source of stress for both sellers and brokers.

Recently, government agencies have passed a rule saying that home appraisals are no longer going to be required on homes that are less than $400,000; however, many lenders will still require them.

Therefore, when should someone consider skipping a home appraisal to save some money?

Appraisals And Mortgages

One of the first ways to take a look at the value of a home appraisal is by comparing it to the mortgage. The two go hand in hand. Appraisals are important because they protect not only the seller and buyer but also the lender. The lender wants to make sure they know what the property is worth.

Therefore, an appraisal is more about valuing the property and not about the price of the home.

In addition, lenders make loans based on either the sale price or the appraised value, whichever is lower. Lenders do this to make sure that buyers have invested enough in their own property.

Borrowers And Appraisals

In addition to considering the lender, it is also important to consider the borrower. An appraisal is helpful for the borrower because this prevents someone from overpaying for a property.

Therefore, they act as a form of consumer protection. On the other hand, they also cost the borrower a few hundred dollars. If money is tight, this can be a serious problem and could dull the appeal of a home.

Choosing Between The Two Options

In the end, people should consider skipping the appraisal if it saves them money. Lenders might still require someone to obtain an evaluation as a form of protection. If the buyer is not confident in this evaluation method, then a traditional evaluation might be a better approach.

It is important for people to feel confident in the sale price, regardless of how this happens.

A Guide To Everything Regarding Instant Pre Approved Home Loans

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A Guide To Everything Regarding Instant Pre Approved Home LoansThere are many people who set buying a home as one of their major life goals. There is a lot that comes with owning a home including a major investment opportunity, a sense of stability, and a feeling of pride; however, homes are also expensive. It can be challenging to find a home loan.

A traditional mortgage requires a thorough credit check and could take a long time to get approved. Some people might not even qualify.

On the other hand, there is also a helpful alternative called an instant pre-approved home loan. There are a few important points that everyone should keep in mind.

What Is An Instant Pre-Approved Home Loan?

A pre-approved home loan is a loan that has been offered to existing customers of a certain lender with an immediate sanction. The funds are disbursed once the property has been verified.

The point of a pre-approved home loan is to skip the lengthy procedure that is usually required for someone to obtain a home loan. The bank makes this loan offer available to customers even before they have selected the property they want to buy. A pre-approved home loan often comes with a strong offer at an affordable price. Sometimes, the pre-approved home loan is even offered at a lower interest rate when compared to the current market average.

In order to offer a pre-approved home loan, the bank will still go through the credit history, payment history, and bank statements of its customers.

There are a few major features of a pre-approved home loan that people should note. Usually, these loans are only available for a short period of time. Second, the pre-approved home loan allows borrowers to manage their funds well. They usually bank with the same lender. Finally, there is some room for negotiation when it comes to a pre-approved home loan.

Is A Pre-Approved Home Loan The Right Option?

Many people are wondering if a pre-approved home loan is the right option for them. The downside of a pre-approved home loan is that people are limited to that specific lender. Therefore, it is a solid strategy to continue to check around with other lenders to find out about their comparable rates.

Home Renovations Are On The Rise

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Home Renovations Are On The RiseMillennials are among the most common demographic buying homes today. According to numerous reports that have been published, many homeowners are planning on conducting a home improvement project this year. In large part, this is due to millennials wanting to improve their homes.

Furthermore, home improvement projects may have bigger budgets this year when compared to prior years. It will be interesting to see what kind of home improvement projects unfold this coming year.

Types Of Home Improvement Projects

There are numerous renovation projects that homeowners are going to undertake this year. The most common are outdoor remodels. Many homeowners want to produce encompassing decks, providing a larger space for people to get together and hang out.

In addition to decks, people are looking to add patios as well. Patios can be made from a variety of materials; however, stone is becoming more popular. Homeowners are thinking about adding outdoor kitchens as well.

The most popular indoor renovation project involves the bathroom. People are starting to realize just how much time they spend in the bathroom. With new trends unfolding in terms of baths, showers, and toilets, many homeowners are looking to make an upgrade.

Finally, kitchen renovations are going to be popular as well. This comes as part of a push to generate an open concept among the kitchen, living, and dining areas. With new appliances coming out, there are plenty of opportunities for kitchen upgrades as well.

Reasons For Home Improvement Projects

Many experts are wondering why these home improvement projects are taking place now. The biggest reason is that homeowners are worried about the impression their house would make on their guests. Many homeowners are indicating that they have been planning these projects for a while; however, they haven’t had the time or money to carry out this project until now.

More Home Improvement Projects Are Coming This Year

With more people looking to carry out home improvement projects, expect to see a major jump in home values. Many homeowners enjoy a significant return on the investment they make in home improvement projects. This means that the value of their house may see a jump once the project is finished.  

Activities To Do Outside While Adhering Social Distancing

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Activities To Do Outside While Adhering Social DistancingThe era of social distancing has impacted everyone and this has left people wondering how they are going to maintain control over their sanity. The positive news is that social distancing doesn’t mean that people have to stay inside at all times.
There are still ways to go outside and remain socially distant. Check out a few fun activities that people can do together while still social distancing.

Take A Trip To A Local State Park

One of the great ideas that people should try this summer involves taking a trip to a local state park. While a lot of businesses have remained closed, there are state parks that remain open. These parks often have dozens of miles of trails that people can hike and explore plants, animals, and the beauty of the great outdoors. While it is possible that other people will be on the trails, it isn’t hard for friends and family members to remain socially distant during a visit to a state park.

Explore The Neighborhood

Perhaps the local community park is packed. Instead, think about walking around the rest of the neighborhood. Chances are, there are spots right in the backyard that are brand new. There might even be a spot that has always been on the bucket list that has never been visited. This is an opportunity for people to open their eyes to the rest of the neighborhood while social distancing. Why not take this chance to say hello to someone new?

Pick Up A New Sport

While there are some sports that cannot be played while social distancing, there are some that can. Some of the great options include running, swimming, golf, tennis, and even frisbee golf. While social distancing can be hard for those who love to play team sports, there are still other sports that can be played even during the era of social distancing. It is important for people to take care of their physical health during this time. This is a great chance to pick up a new sport.

Activities For Social Distancing

These are a few of the top activities that people can do outside while still social distancing. Why not give them a try?