Lisa Deschamps

We’ve all seen those home renovation shows on TV they make it seem so exciting and rewarding! When you look at doing it yourself, you need to be honest about ...whether it’s a realistic option for you. Here are some questions to ask yourself to help decide if a fixer-upper is right for you: Do you really want to renovate? Your desire and motivation should be one of the main factors in deciding if renovating is right for you, otherwise you may end up frustrated with incomplete projects. What are your expectations? Are you expecting a full, fast flip with that open concept and high-end finishes? Or are you okay to do one room at a time over a number of years? What is your budget? Can you afford your renovation plans? The truth is renovations usually cost more than estimated, so keep this in mind and have contingency money prepared (at least 10% of your budget) and factor in permit costs, waste disposal, architectural and design plans. Can your lifestyle accommodate renovations? Working long hours, having young and active kids, or working from home may help you determine how a remodel may disrupt your family life. Will you get the return on your investment that you’re looking for? Updating kitchens and bathrooms usually draw the greatest increase in value, but invisible updates like electrical or plumbing, or unique finishes, might not give you the return you’re hoping for when you go to sell. If you decide to buy that fixer-upper, make sure you talk to your insurance broker about coverage during renovations! There are additional risks that may not be covered by your standard home insurance policy. You should always let your broker know about updates, as it can affect your insurance premium and eligibility for claims. Visit our website to get connected with a BIG broker today! #thinkBIG #homeinsurance #homerenovations

Moving to a new city, or even changing neighbourhoods can affect your insurance rate. We know you want to make an informed decision when you move, and part of t...hat decision should include how the location can affect your home and auto insurance. Let’s talk about how your location can impact your rate and contact a broker to get a quote before you move! Age of your area and home older homes may have inadequate sewage systems and dated wiring/plumbing making you at higher risk for sewer backup, fire and flooding. Proximity to other buildings homes that are closer together can be exposed to more risk with fire and other damage. Fire services homes with a greater distance/response time of fire services can increase premiums because there’s more time for the fire to spread and cause greater damage. Traffic Patterns urban areas typically have higher rates because there are more cars on the road and more intersections, increasingly the probability of a collision. Crime rates if your area has a higher probability of theft or vandalism, you may pay a higher premium. You can take steps to lower your premium by improving your home security and adding anti-theft measures for your car. Environmental Factors if you’re in an area with a higher risk of flooding near a lake or river, or wildfires near a forest, your premium may be higher, and it can affect your eligibility for certain coverages. Premiums are also approved by regulatory bodies in each province, which will cause prices across Canada to differ by province. Make sure you weigh the cost of insurance when you move. Our BIG brokers would be happy to help you find the best insurance option for your new home! #thinkBIG #homeinsurance