Unexpected changes often move people to make Real Estate changes in their lives. Living close to a military base I see it all the time.
Having read a lot of obituaries in my life I know the death of a loved one often produces a need for change. Having lived through a flood that changed a third of our Cities landscape I know natural disasters bring about change.
All the planning in the world will not cover some unexpected changes in any of our lives. So what are we to do? Here is my short list when it comes to Real Estate.
#1) If you are married discuss with your spouse (family) some of the more common scenarios. ie "if I die would you want to stay in this home".
#2a) Carry insurance. Have enough homeowners insurance to cover a total loss of your home. Visit with your insurer to make sure you are covered for natural disasters. ie You are not covered by homeowners insurance should your home be flooded.
#2b) Do you and your spouse have adequate life insurance to pay off the home if one of you die? No one wants to think about that BUT look at your local obits and you will see young people die every day too.
It's not feasible to cover everything in a blog post but I hope this post gets you thinking and planning. I dare say most people move for GOOD reasons. Even for good reasons it's important to be on the same page as loved ones. Sit down and make a plan today.
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