Do Children Need Life Insurance?

April 5, 2019

Getting ready to welcome a baby into the world is an exciting time. You can’t help but think of all the adventures to come and dream of the future that awaits your new son or daughter. You start by planning for your child’s immediate needs, stocking up on diapers, decorating the nursery, and lining up day care if needed, before considering longer-term issues, like setting up a 529 plan to help fund your child’s education.

The last thing you want to think about during this joyous time is purchasing life insurance for your unborn child. You’re eagerly awaiting your baby’s birth, not anticipating his or her death. Nonetheless, it’s worth looking into before you make up your mind.

Here are a few reasons you may want to get life insurance for your child:

• It can serve as a savings vehicle. When you buy a whole life insurance policy (you can’t buy term life insurance for minors), the cash value grows slowly over the years. Your child can surrender the policy later and use the money as he or she wishes.
• It guarantees your child’s insurability. If your child develops a medical condition, you won’t have to worry about whether he or she will have life insurance. In fact, your child will be able to buy additional insurance as an adult if needed regardless of his or her health (check with your individual insurance provider to see if you’ll need to include an additional rider for this benefit).
• It provides peace of mind. Planning a funeral is difficult, and planning one for your own child is especially hard. Life insurance would cover funeral expenses, which can cost thousands of dollars, and perhaps allow you to take some time off work as you grieve.

On the other hand, here are some reasons why life insurance may not be the best idea:

• There are better ways to save. According to Consumer Reports, the average annual rate of return is 1.5 percent for the whole life guaranteed cash value. That doesn’t take into consideration associated fees that eat into the returns. You can easily beat that rate by investing your money elsewhere.
• It probably isn’t needed. Statistically, it’s unlikely your child will die. In addition, the main purpose of life insurance is to replace income or cover debts, and those situations generally don’t apply to your child. You most likely aren’t relying on your child’s income to pay your monthly bills.
• Your child probably can get term life insurance later. Again, statistically speaking, your child should be able to purchase a term life insurance policy as an adult. Term life insurance is more affordable and practical for most people.

Ultimately, purchasing life insurance for your child is a personal decision. If you do decide to get a policy, be sure to store the related documents on InsureYouKnow.org. Should the worst occur, you will want to be able to access the documents quickly and easily so you can focus on healing.

Finding a Great Job in Retirement

March 29, 2019

You’ve made it! After a long, fulfilling career, you’ve closed the office door for the last time and retired. Now you’re ready to relax and enjoy your golden years.

But as they say, the best-laid plans of mice and men often go awry.

Many retirees quickly discover that despite years of faithfully contributing to their retirement plans, they haven’t put away quite as much as they’d hoped. In fact, they may not have enough money coming in each month to meet their financial obligations. Those dreams of traveling the world are replaced with nightmares of dusting off the resume and finding another 9-to-5 job.

If you’re finding yourself in this situation, it’s important to remember that you’re not alone. According to Northwestern Mutual’s 2018 Planning & Progress Study, one in five Americans (21%) have nothing saved for retirement at all, and one in three baby boomers (33%) have between $0 and $25,000 in retirement savings. Four in 10 Americans (40%) expect to work until 70 years old or older.

Nonetheless, the idea of finding another job can be daunting. Instead of looking at it as a disappointment, however, you can look at it as an opportunity. Here are a few ways you can make sure your new job is an amazing job:

• Find a job in a new field. Have you always dreamed of working in a bookstore? Do you think it’d be fun to take tickets at a movie theater? This may be the chance for you to do something that excites you.
• Limit your hours. If you only need to supplement your retirement income, try working part-time. You’ll keep your brain busy and your wallet full but still have the freedom to spend a few hours each day pursuing other interests.
• Turn your hobby into a business. From selling hand-knit baby booties in your own Etsy store to hawking the vegetables you’ve lovingly grown in your garden at the neighborhood farmer’s market, there are a number of ways you can make money off your hobbies. Just be sure to check local regulations first.
• Stay active. It’s important to stay physically active as you age, and your new job could keep you moving. Consider becoming a tour guide or yoga instructor to ensure you stay fit both financially and physically.
• Share your knowledge. Many retirees want to get more involved with their communities, and teaching is a great way to do that. You can inspire today’s youth by becoming a teacher in the local school district or an instructor at a community college.

• Help raise tomorrow’s children. Maybe you have fond memories of watching your children take their first steps. Maybe you never had a child but always enjoyed hearing their joyful laughter. Becoming a child care worker might be the right step for you.

Having a shortfall in your retirement savings isn’t the end of the world. In fact, it can open up a whole new world to you. Be sure to keep track of your retirement accounts and store the related paperwork on InsureYouKnow.org. The peace of mind you’ll have from knowing your information is safe and sound will help you enjoy your retirement—or semi-retirement—more fully.

What to Do With Your Tax Refund

March 8, 2019

It’s that time of year again! While experts agree you should avoid getting a large tax refund (which is essentially an interest-free loan to Uncle Sam), it’s hard not to feel giddy when you know extra money is coming your way. Many people look forward to getting a refund each year and use it as an excuse to splurge on themselves.

Before you buy that new TV, however, it’s important to take a close look at your finances and determine if that’s really the best idea. While putting that money toward a more practical purpose may not be as much fun, it can pay off in the long run.

Here are a few smart ways you can use your tax refund:

• Pay off debt. This is a no-brainer. If you’re carrying around credit card or other high-interest debt, you want to get rid of it as quickly as possible. Before that cash has a chance to get comfortable in your bank account, use it to pay down your debt and lessen some of the anxiety hanging over your head.
• Put it in savings. It never hurts to pad your savings. This could be the year that your hot water heater breaks down or your car decides to bite the dust. Set that money aside in a high-yield savings account so it’s there when you need it.
• Prepay your mortgage. Your home is probably your biggest investment—and your mortgage payment is probably your biggest debt. Putting a little extra toward your mortgage regularly can save you thousands of dollars and shave years off your loan.
• Fund your retirement. You don’t have any debt. You have a fully funded emergency fund. Does that mean you’re free to book that plane ticket to Cancun? Not necessarily. How are your retirement accounts doing? If you’re behind on your retirement savings, it’s not too late to catch up.
• Invest in yourself. It’s easy to let your career get stuck in a rut. Your tax refund can help you make a career change or take your skills to the next level. Use it to enroll in continuing education courses or certification programs and earn that promotion you’ve been waiting for.
• Upgrade your life. Sometimes you simply need to make a major purchase. If you’re a freelance writer and your computer is slow as molasses, you probably need a new one so your business doesn’t suffer. If your energy bill is sky-high and you live in an older house, it might be a good idea to replace your windows. Making smart purchases now can save you a lot of money down the road.

Whatever you do with your extra cash, make sure you keep track of it. The last thing you want to do is slowly spend it on a frozen treat here or a pack of gum there, only to discover it’s gone before you know it. You should regularly monitor your banking statements and other financial documents to ensure you know where your money is going. Don’t forget to store these and all your other important documents on InsureYouKnow.org. It’s part of being a knowledgeable, financially responsible consumer.

The True Costs of Homeownership

February 22, 2019

Are you thinking of buying a house? Maybe you’re tired of your landlord raising the rent on you. Maybe you want to paint every room in your home a different color of the rainbow. Or maybe you’re simply ready to settle down and start a family.

Whatever your reason, buying a house can be a smart and rewarding decision—but you need to go into it with your eyes wide open. Homeownership is a serious financial commitment, and it’s important you understand just what you’re getting into. Unlike renting, owning a home comes with a variety of regular costs you may not have anticipated.

Before you sign on the dotted line, take the time to add up all the related costs and make sure homeownership is right for you. Here’s a quick look at a few of the expenses you’ll be responsible for as a homeowner:

• Your mortgage. Your monthly payment involves more than the principal and interest of your loan. It also includes homeowner’s insurance and property taxes, which can add a significant amount to your payment each month. If you can’t put down 20 percent and have to pay private mortgage insurance, be sure to include that in your calculations.
• Utilities. You probably already pay for some of your utilities as a renter, but as a homeowner, you’re responsible for them all. This includes electricity, water, wastewater, natural gas, garbage collection and recycling. You also will pay for your own internet and cable service.

• HOA dues. If your new home is part of a neighborhood or complex with a homeowners association, you’ll be required to pay regular dues. These can range from just a few dollars a month to several hundred, so make sure you know what the dues are before you commit to buying a property.

• Landscaping. Someone has to mow that huge backyard. Even if you decide to take care of it yourself, you’ll have to purchase a lawnmower and other equipment. Don’t forget to consider that time is money; the time you spend mowing and raking could be better spent doing other activities.

• Maintenance and repairs. Things can—and will—break. You need to have money set aside for emergencies such as a plumbing leak or broken appliance. In addition, you should plan on spending 1–2% of your home’s value each year on general maintenance to ensure your home remains in good shape.

Once you know have a good idea of how much it will cost you each month to own a home, take a look at your other monthly expenses, such as groceries, gas, entertainment, and debt payments, as well as your total monthly income. Most experts recommend you spend 28% or less of your monthly income on housing.

If homeownership still makes sense after you run the numbers, congratulations! You’re in for a fun ride. After you’re done signing the reams of paperwork involved and close on your new home, don’t forget to upload all the documents onto InsureYouKnow.org. It’s a safe place to store all the information on one of the most important transactions you’ll ever make.

How to Raise Your Credit Score

February 7, 2019

You’re more than a number. But when it comes time to getting a loan, it may not feel like it.

Your credit score is a numeric representation of your creditworthiness. Lenders use it to determine whether to loan you money for a major purchase or approve you for a new line of credit. It takes into consideration a variety of factors, including whether you pay your bills on time, the amount of credit you’re using, and how long you’ve been using credit.

There are a number of different scoring models, but the two major ones are the FICO Score and the VantageScore. Ninety of the top 100 largest financial institutions in the United States use the FICO Score to make credit decisions. FICO Scores fall into the following ranges:

• 800–850: Exceptional
• 740–799: Very Good
• 670–739: Good
• 580–669: Fair
• 300–579: Poor

The higher your score, the lower the interest rate on your loan will be. Generally speaking, if your score is 760 or above, you’ll get the best rates. This can make a difference of hundreds of dollars a month and tens of thousands of dollars over the life of the loan. For example, someone with a FICO score of 620 could pay over $200 more each month for a $216,000 30-year, fixed-rate mortgage than someone with a score of 760.

So what do you do if your score is on the lower end of the scale? Fortunately, it is possible to improve your credit score, although it takes time and patience. Here are three things you can start doing today to help boost your score:

1. Pay your bills on time. Considering payment history accounts for 35% of your FICO Score, paying your bills on time is one of the most important things you can do if you want to improve your credit score. After all, if lenders don’t think you’ll pay them back, they aren’t going to loan you the money in the first place. If you tend to be on the forgetful side, don’t panic: Set up payment reminders or, even better, automatic payments.
2. Keep your balances low. The amount you owe on your current accounts determines 30% of your FICO Score. Lenders figure that if you owe too much money to creditors, you may have trouble making your payments and are at risk of defaulting on your loans. They look carefully at your credit utilization ratio, or the amount you owe versus the amount of credit you have available. Because revolving debt such as credit cards carry more weight than installment debt such as mortgages, it’s important to keep your credit card balances as low as possible.
3. Make more than one payment a month. Even if you pay off your credit cards in full each month, you may want to consider making payments throughout the month instead of waiting until the end of your payment cycle. Your credit score is a snapshot in time; if it is calculated right after you pay off your balance, your credit utilization ratio will probably look great, but if it is calculated right after you make a big purchase like a new couch, it might look too high. Making multiple payments a month will ensure your balances remain low and you won’t look like a risky bet to lenders.

Just like any other important financial documents, your loan agreements should be stored in a secure place. When you upload them to InsureYouKnow.org, you and your loved ones will be able to access them should the need arise. It’s just one part of maintaining a fiscally responsible lifestyle.

The 4 Types of Insurance You Must Have

January 25, 2019

Let’s face it: Insurance is confusing. And we’re not just talking about figuring out how to file a claim. With all the different types of insurance out there, it’s hard to determine what insurance you need in the first place.

While your particular needs will vary depending on your unique circumstances, here are four types of insurance you definitely should have:

• Health insurance. The federal tax penalty for not having health insurance will go away in 2019, but that was never the main reason you needed it. With medical costs continuing to rise, health insurance is an absolute must-have. Even if you are young and healthy, you never know when you might get in an accident; an unexpected hospital visit can easily cost you thousands of dollars. Luckily, your job may be able to help you get coverage. According to the most recent report from the U.S. Census Bureau, more than half of Americans (56 percent) receive health insurance through their employer. Only 8.8 percent of Americans have no health insurance at all.
• Car insurance. If you have a car, you’re already very familiar with car insurance. Even if you’ve been fortunate enough to never use it, you better be paying for it considering it’s required by law (unless you live in New Hampshire or Virginia, where it isn’t required but most drivers have it). The Insurance Information Institute has found that the average loss per claim is more than $5,500, so this is one type of insurance that can pay off quickly. Tip: Don’t file a claim for a minor incident. While you might think you should considering the amount of money you’ve paid for your policy over the years, your insurance company may raise your rates in the future.
• Homeowners/renters insurance. If you own your home, having homeowners insurance is a no-brainer, and not just because you can’t get a mortgage without it. Your house is probably your single most valuable asset, and you want to protect it. Homeowners insurance will help cover your losses in the event of a fire, burglary, or other event (you may need to purchase a separate policy if you live in an area prone to floods or earthquakes). If you’re a renter, you still need insurance of your own so you can replace your personal belongings in the event of a disaster.
• Life insurance. Life insurance is more of a benefit for your loved ones than for yourself; if you should die, this will help protect them. Ask yourself: What would happen to your family if you died tomorrow? Would they still be able to pay the bills? Even if you’re single, someone will have to pay for your funeral and sort through your estate. Many experts recommend you buy a policy equal to 10 times your salary. Of course, your particular situation may require more or less. If you have no children, for example you won’t need as much as someone with three kids, and if you’re a stay-at-home parent with no income, you still need life insurance to help your partner cover childcare costs should the worst occur.

Once these four policies are in place, you might want to look into other types of insurance that could be beneficial to you, such as disability insurance and long-term care insurance. No matter what you end up with, you’ll want to store all the related paperwork on InsureYouKnow.org. Dealing with a disaster is stressful enough; the last thing you and your loved ones will want to do is dig through piles of papers to find the appropriate policy.

Smart Money Moves to Make in the New Year

January 7, 2019

Ah, January 1: a day of fresh starts, new beginnings, and big dreams. According to Fidelity’s Tenth Annual New Year Financial Resolutions Study, 32 percent of survey respondents are considering making a financial resolution for the year ahead. The top three financial resolutions are to save more (48 percent), pay down debt (29 percent) and spend less (15 percent).

While those are great resolutions, they also are broad and lack detail. How much do you want to save? Which debts will you pay down first? How exactly will you spend less? Without a firm plan in mind, these resolutions easily may be forgotten by the time Valentine’s Day rolls around.

When it comes to New Year’s resolutions, it’s important to set specific, measurable, and achievable goals. In other words, you want to create a detailed plan with milestones that can be met. That way you will see the progress you’re making throughout the year and maintain the motivation to keep going.

With that in mind, here are a few smart money moves you can make in the coming year.

1. Check your credit report. This one should be a no-brainer, but many people put it off until trouble arises. Don’t wait until you’re ready to apply for a car loan or home mortgage; get your free copy of your credit report at AnnualCreditReport.com months in advance so you can address any discrepancies. You can request a free copy of your report once a year from each of the three major credit reporting companies. Keep in mind that you can order the three reports one at a time, allowing you to check your report multiple times throughout the year. Once you get your copy, review it and make sure all the information is accurate and up-to-date.
2. Make sure your insurance meets your needs. How much life insurance do you need? Do you need disability insurance? What about long-term care insurance? These aren’t easy questions to answer, and the answers generally depend on your individual situation. While determining the type and amount of insurance you need can be overwhelming, it’s a vital part of protecting you and your family. Generally speaking, it’s easier to pay a little bit each month in premiums than to come up with a large sum in the event of an emergency.
3. Get the best credit card for you. Whether you use your credit card only for major purchases or put everything on it and pay it off each month, it’s important to make sure the card in your wallet is the best one for your needs. If you have to carry a balance sometimes, you want to make sure you use a card with the lowest rate possible; if you travel a lot, you’ll want to look for a card that’ll make your vacations a little more affordable. Sites like NerdWallet and WalletHub can help you find the credit card that best meets your lifestyle.
4. Fully fund your emergency fund. Make this the year you build your emergency fund to the recommended six to eight months of living expenses. It sounds difficult, but remember, we’re talking about your monthly expenses, not your monthly salary. Calculate the amount based on your true necessities: mortgage/rent, utilities, food, insurance, and the like. If it helps keep you going, break this goal down into smaller milestones you can meet throughout the year, and celebrate each accomplishment along the way.
5. Put all your financial documents in one safe place. Last but not least, take the time to gather together all your important financial documents and store them in a secure place. InsureYouKnow.org is the ideal location. Think of it as an easy-to-use electronic safe deposit box; you upload your documents, and only you and anyone you share your password with can access them. Thanks to Amazon’s cloud encryption, you can rest easy knowing your documents are safe and easy to access whenever and wherever they’re needed.

5 Ways to Build Your Emergency Fund Quickly

December 21, 2018

Experts agree: Everyone should have an emergency fund with enough money to cover six to eight months of living expenses. This is money you set aside in case of a major life-changing event, such as a job loss.

If you haven’t saved up the recommended amount, you aren’t alone. A recent survey from Bankrate found that only 29 percent of Americans have saved six months’ worth of expenses. Another 23 percent have saved nothing at all.

While those statistics may make you feel better about your own situation, you don’t want to get complacent. If you lost your job tomorrow, would you be able to make rent next month? If you had a major medical emergency and couldn’t work for three months, could you afford groceries?

If you answered “No” to those questions, it’s time to build that emergency fund—quickly. Here are a few ways to get started.

1. Slow your spending. It goes without saying that the first thing you should do is to take a good, hard look at your budget and determine where you can cut back. One of the first items on the chopping block is always cable and other forms of entertainment. You don’t have to deprive yourself, but do you really need both Netflix and Amazon Prime? Other easy places to cut include gym memberships, subscriptions and eating out.
2. Sell your stuff. If you have a lot of unused items in your house, this is a good time to clear out space and get a little extra cash at the same time. You can sell the clothes your kids have outgrown at a garage sale. You can find those collectible toys gathering dust in the attic and post them on eBay. You can take that bread maker you’ve used twice and list it on Craigslist. Just be sure to stay safe when selling items online.
3. Get a part-time job. Assuming you have the time, you may want to look into getting a part-time job while you build up your reserves. You don’t have to relive your teenage days and work the drive-thru at the fast food restaurant down the joint, but you may be able to pick up some hours at the local bookstore. If you’re a fitness fanatic, perhaps you could work the front desk at your gym or teach some group classes. If you have a reliable vehicle, you could get earn a little extra money as a rideshare driver.
4. Bill yourself. Sometimes you just need to change your mindset. Consider your emergency fund to be a monthly bill, and make sure you pay that bill just like you would any other. You can set the amount and due date and make it a part of your monthly budget. Even better, set it up as an automatic payment so you don’t even have to think about it. Alternatively, you could vow to transfer a set amount of cash—say $20—into your savings account every Friday. It may seem like a small step, but it all adds up.
5. Save any bonus money. If you get a bonus at work or a tax refund, put that money in your savings account immediately. You may be tempted to spend it, but try to think about the long-term benefits. The same goes for a raise: Instead of budgeting that extra 2–3 percent into your regular spending, move the amount over to savings. You’re already getting by without it, after all, so you won’t even miss it.

After you’ve got a good chunk of change set aside, you might want to look into moving it to a high-yield savings account. You don’t want to invest it because you want it to be readily available, but you don’t want it sitting in an account earning next to nothing in interest either. Be sure to store your bank’s information along with your other important documents on InsureYouKnow.org so you and your loved ones know how to access the money if and when you need it.

Do You Need Long-Term Care Insurance?

December 4, 2018

No one likes to think about growing old. In fact, many people pretend that it’s never going to happen. But instead of fearing the inevitable, it’s better to plan for it.

In addition to starting to save for retirement at an early age, it’s important to think about what you’re going to do if your health starts to decline. According to AARP, by the time you hit 65, chances are 50-50 that you’ll need long-term care (LTC) due to chronic illnesses, disabilities or other conditions, such as Alzheimer’s disease. And it’s not cheap; if you pay for it yourself, you’re looking at an average annual cost of $140,000.

LTC insurance can help. LTC insurance is different from health insurance, which you’ll still need. It helps cover costs that your regular health insurance won’t, such as help with daily activities like bathing, getting dressed and eating. These services may be provided in your home or at a nursing home or assisted living facility.

Unfortunately, LTC insurance is cost-prohibitive for many due to poor planning on the part of insurance companies. When these policies were first introduced, insurers greatly underestimated the amount they would pay out in claims. People were living longer, but they weren’t necessarily staying healthier, so insurers were paying for care longer than they had anticipated. In addition, insurers thought people would prefer to receive care in their homes, but many opted to move into more expensive assisted-living facilities.

As a result, many insurers stopped offering LTC insurance. In 2000, 125 companies were selling standalone LTC policies; by 2014, only 12 companies were. Those that still do sell them have raised their premiums drastically. For example, earlier this year, Mass Mutual announced it was raising premiums on existing policies by 77 percent. Today, premiums average $2,700 a year.

There are options you can consider if you can’t afford LTC insurance. Maybe relatives can help with your care. Maybe you can pull some equity from your home. Maybe you can build up your savings even more and plan on paying for future LTC out of pocket.

But if you have a family history of Alzheimer’s or simply believe LTC insurance would bring you more peace of mind, it may still be your best bet. Here are a few things to keep in mind when you start looking for a policy:

• Begin your search in your 50s or early 60s at the latest. Prices rise sharply as you age. You can pay 10 percent more for a policy when you buy it at age 65 rather than at 64. Keep in mind that you won’t qualify for coverage if you wait until you actually need care because then you will be considered as having a preexisting condition.
• Shop around. Like with any other major purchase, it’s important to do your homework and research your options. If the process sounds daunting, you might want to consider getting assistance from an insurance agent or broker.
• Look into group rates. Premiums may be more affordable if you qualify for a group rate through an employer-sponsored plan or plan offered by a professional organization you belong to. Before you sign up, be sure to read the fine print and find out if you can keep the policy if you leave the organization.
• Consider a joint policy. You may get a better rate by purchasing a single policy that covers you and your spouse or another family member. The discount is typically 30 percent off the price of separate policies. If you’re interested in going this route, you’ll want to find out what the maximum benefit is for everyone under the policy and consider whether that will be enough for both of you.

If you do purchase an LTC insurance policy, be sure to keep all related paperwork safely stored on InsureYouKnow.org along with all your other important documents. It’s the best way to make sure you can find them quickly and easily should the need arise.

5 Tips for Finding the Perfect Real Estate Agent

November 23, 2018

For most people, buying a house will be the biggest purchase they’ll ever make. It also will be their most important. They will spend most of their non-working hours in their home. They will raise their family there. And they may tie up a significant portion of their net worth there.

In other words, it’s not a purchase to be taken lightly.

Luckily, real estate agents are available to walk you through the homebuying process. From showing you potential properties through signing the closing documents, your agent will help you navigate the often unpredictable real estate market. But as the real estate industry continues to grow and more and more agents enter the field, how do you select the right one for your home purchase?

Here are a few tips to help you find the perfect real estate agent:

• Ask your friends and family for recommendations. For many agents, referrals are their bread and butter. They go out of their way to provide outstanding service not only because they want to please their current clients, but also because they know it might lead to future clients. Ask your friends and family members who represented them when they bought their house and how they felt about the experience. Be sure to ask them to share both the positives and the negatives.
• Research agents online. While about 33 percent of homebuyers find their agent through a personal referral, another 26 percent find theirs online. You might want to start with online reviews on Zillow or Redfin. If you find a negative review, don’t write the agent off immediately; instead, look to see how the agent responded. Don’t forget to look at the agent’s website, where you can find a short bio or other valuable information.

• Check out credentials and certifications. Just like doctors, real estate agents often have specialties. If you want someone who specializes in the buyer’s side of a real estate transaction, you may want to limit your search to agents who have earned the Accredited Buyer’s Representative designation from the National Association of Realtors. These agents have met specific educational and work experience requirements and have proven experience representing homebuyers.

• Look at agents who know the area. If you’re targeting a specific neighborhood, you may want to find an agent who has extensive experience with properties there. He or she will know about local schools, commute times, recent sale prices, and quirks that may be common with houses in that area, like older plumbing or foundation issues.

• Interview your potential agents. After you’ve narrowed down your list of potential agents, set up interviews with each of them. You’re going to be spending a lot of time with your agent in the next few months, so you want to make sure you choose someone you’re comfortable working with. Ask them about their experience and specialties. Be sure to find out how many current clients they have so you can make sure they won’t be too busy to give you the attention you’ll need throughout the homebuying process.

Once you have found the right agent, the homebuying process should go smoothly. After you’ve closed on your dream home, be sure to store your mortgage documents on InsureYouKnow.org. Don’t forget to include other important paperwork like home warranties or pest inspection certificates. If any issues arise with your new home, you want to be able to access those documents and resolve them quickly.