According to an article recently published on InsuranceAgents.com, whether or not you’re purchasing a new home or resale home is a big factor in what kind of homeowners insurance quotes you will receive. The article, titled ‘New or Used? Homes That Affect Your Homeowners Insurance,’ states, “Part of what makes a good choice for you depends on the advantages and disadvantages of the two different types of property: new houses and resale houses. Each possesses different characteristics.”

New homes, which are commonly referred to as “tract houses,” usually come in bunches as parts of a larger housing development. These homes generally come with reduced privacy and less property attached but are build with the latest innovations in construction and therefore are more low risk. You will find lower homeowners insurance quotes regarding new homes.

However, resale homes are a whole different ballgame. Although they generally have more character and can be purchased at a cheaper price, resale homes that are older than 20 years are deemed high risk by insurance companies. This is because they are more susceptible to fire, flood, and other dangers that can cause home damage and lead to insurance claims.

Both new homes and resale homes come with their own set of pros and cons. Before purchasing you must decide how important low cost homeowners insurance is to you. Just because it is important to you doesn’t mean you have to purchase a new home. There are other factors that could come into play that could make it cheaper for you to purchase a resale house.

Via EPR Network
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