Tips for homeowners looking to save money – Santa Monica Real Estate News

Local housing markets in Southern California continue to improve as homes for sale in Los Angeles County are being scooped up by eager buyers. For many first-time buyers, this major investment can be costly, but there are many ways new homeowners can save money.

Purchasing a fixer-upper may seem like a less expensive option, though buyers who have to complete extensive renovations may end up spending more than they would have had to otherwise. However, purchasing a home that falls short of being cosmetically pleasing can provide savings, while do-it-yourself projects can excuse the need for a contractor or handyman.

Before signing, those interested in purchasing a property should consider shorter-term mortgages, as paying off a home quickly can prevent them from dedicating more money toward covering interest.

Naturally, new homeowners look to protect their investment as best they can, but not comparing home insurance rates could lead to overspending for coverage that could be provided for less. Instead, buyers are urged to compare quotes from multiple home insurance providers, and consider bundling other policies together for a greater discount.

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