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Buying a PHX home with a Fireplace - Will my Home Insurance Cost Rise?

By Anna "Banana" Kruchten

Real Estate Agent with HomeSmart Real Estate AZ Broker BR030809000

June 03, 2012 10:43 AM

Buying a Phoenix home with a Fireplace - Will My Home Insurance Cost Rise?

Buying a Phoenix Home

The other day I had a lovely couple from California in town looking to buy an investment property. During the process of looking at homes the lady was concerned that insurance costs would be much higher if they purchased the home with the fireplace. They both liked that home but were considering all the pros and cons.

In all my years in real estate I had never been asked if having a fireplace would increase home insurance premiums. I really didn't think there would be a premium for fireplaces since I'd never run across it but maybe having a fireplace did run up the cost. Good question for my insurance guy who handles all of our insurance and many of our clients as well.

Thankfully my insurance guy got back to me fast and said - absolutely not - having a fireplace in Arizona would not increase home insurance premiums. Buying the home they liked was not only an excellent buy but it has a fireplace with no extra costs! They put a bid in on the home and were happy to be the lucky bidder of 4 total bids. On to closing and getting the home rented out!

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Real Estate and Working with my Clients is my Passion!

I take my clients trust in me very seriously. I'm known for 'telling' it like it is, not what folks might want to hear or think it should look like. Now that may sound kind of tough, but think about it, in the long run if you want to buy or sell a home you need to know the real facts in order to make a wise choice.

If you want the truth and the whole truth, I am the
Phoenix Real Estate Broker for You.

When you are ready to buy or sell a Phoenix Area Home, I will be your advocate, guide, and fierce negotiator. I will work hard to make your buying or selling a home as smooth and stress-free as I possibly can - even if it's a short sale. Guaranteed.

Call me and we'll create a plan of action to buy a home or sell your home!

Sincerely,

Anna 'Banana' Kruchten

Broker/Owner

602-380-4886

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Ellen Caruso

Daniel Gale Sotheby's International Realty - Glen Head, NY

Anna, that's good news cause I have 2 and would hate to pay any more than I already am.

Jun 03, 2012 10:52 AM

Janis Borgueta

Newburgh, NY

Retired RE Salesperson

Anna ~ I do wonder if that changes based on location .. and for that matter insurance companies? or would that be a standard issue.

Jun 03, 2012 10:55 AM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Ellen I don't know if this is the case from state to state. Would be interesting to find out. I can imagine in CA where they have so many fires it might be a BIG issue that has caused rates to go up.

Janis - yes - let's find out.

Jun 03, 2012 11:19 AM

Leslie Ebersole

Swanepoel T3 Group - Saint Charles, IL

I help brokers build businesses they love.

Every day brings uo something new and different, it keeps our brains working!

Jun 03, 2012 11:47 AM

Roger D. Mucci

Shaken...with a Twist 216.633.2092 - Euclid, OH

Lets shake things up at your home today!

All I know for sure is that's a pretty cool fireplace and bar I'm looking at right there Miss Banana. I wouldn't mind sitting in that leather chair having an "adult beverage" either..........no matter what the cost would be!

Jun 03, 2012 12:09 PM

Brenda Mullen

RE/MAX Associates - San Antonio, TX

Your San Antonio TX Real Estate Agent!!

I have never had that question either, but hey, if one person has the question, other's do too. I am going to ask my insurance friends around here as each state may be different.

Jun 03, 2012 12:21 PM

Les & Sarah Oswald

Realty One Group - Eastvale, CA

Broker, Realtor and Investor

Pretty much every house in Ca has a fireplace or two. Whether it is used or not is a different story. I will have to place a call to my insurance guy and find out if there is an extra cost for the fireplace. Maybe the rates are different for homeowners in the rural and mountain areas.

Jun 03, 2012 12:29 PM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Leslie - exactly. I hadn't thought about it before.....so it was interesting to find out for sure.

Come on down to Phoenix Roger.....we'd love to have you!

Brenda - it will be interesting to find out where other states are at. BTW....congrats again on your change!

Sarah let us know what you find out. Thanks!

Jun 03, 2012 12:41 PM

Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366

Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA

General Contractor, Dry Rot and Water Damage

Funny, when I think of Phoenix, I don't think of fireplaces.

It sounds like the buyers found the right Broker for this purchase Anna.

Congrats.

Jun 03, 2012 07:12 PM

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Anna, I've never had anyone ask that question. Could be they ran across this before in California. Different states different rules. Congratulations on the transaction and a successful closing.

Jun 03, 2012 11:50 PM

Kathryn Maguire

GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA

Serving Chesapeake, Norfolk, VA Beach

It is great when you have a trusted professional to go to with those hard to answer questions! Have a great week!

Jun 04, 2012 12:19 AM

Curtis Van Carter

Better Homes & Gardens Wine Country Group - Yountville, CA

Your Napa Valley Broker Extraordinaire

Anna

Fairly soon, anyone wanting a FP in a new home will have to buy other California. Already, many counties ban them and soon it will be statewide. cheers cvc

Jun 04, 2012 01:07 AM

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Anna, They always ask in my area if the home has a fireplace when they are rating the insurance. But the benefits are worth it.

Jun 04, 2012 01:44 AM

Evelyn Kennedy

Alain Pinel Realtors - Alameda, CA

Alameda, Real Estate, Alameda, CA

Anna:

I suppose the buyers wondered about the fireplace because they may have thought that fireplaces were not common in Arizona. In any event, you were able to answer their question quickly and clear the hurdles to making an offer. Good job.

Jun 04, 2012 02:52 AM

Sharon Lord

Maracay Homes - Peoria, AZ

New Home Advisor

Anna - CONGRATS on the accepted offer! Good info to have, too - I know insurance apps always ask if there's a fireplace....

Jun 04, 2012 08:59 AM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Tom you'd be surprised how many homes have fireplaces here in the Phoenix Metro area. I love having one espcially around the winter holidays.

Michael I imagine with all the fires CA has had the last years it would be a bigger issue.

Kathryn - indeed. That goes for all of us! You too!

Curtis are the old fireplaces ok or how are they handling that?

Debbie - so it cost more in your area?

Evelyn they asked when we were at the home with a fireplace. Natually it came up and it was an interesting question for me. A first....

Sharon - they were lucky. When we're up against muliple offers it can get a little dicey.

Jun 04, 2012 10:47 AM

Lloyd Binen

Certified Realty Services - Saratoga, CA

Silicon Valley Realtor since 1976; 408-373-4411

Ms. Anna Banana,

Congrats on the accepted offer.

It's great to have a "go-to" insurance guy or gal to give a definitive answer to a question like that. The Realtor can think they know the answer, but it's conclusive getting it directly from someone who knows FOR SURE.

I'm sure there are lots of SF bay area investors looking in Phoenix and vicinity. What price home did they purchase, what will it rent for, and how long will it be vacant?

Jun 05, 2012 03:41 AM

Ron Marshall

Marshall Enterprises - Saint Michael, MN

Birdhouse Builder Extraordinaire

Finding a rental with a fireplace would be a great selling point, I would think. Thanks for a great answer to an odd question.

Jun 05, 2012 06:42 AM