The biggest risk is a house flipping.
A $150,000 house can easily sell for $2 million or more, and there’s also the risk of a flood, according to Mark Rizvi, who runs a home insurance company in San Francisco.
In San Francisco, he says, it can cost more than $20,000 for flood insurance.
A flood is the worst-case scenario.
But even that’s not always the case.
The worst that can happen is that you can’t afford the repairs, said Rizavi.
You can only afford to pay for them out of your own pocket.
The key is to have enough money to get the repairs done and get the house back on its feet, he said.
If you do lose your home, you should consider what will happen to your finances and what to do to keep yourself and your family safe, Rizavi said.
“It’s not going to be easy,” he said, “but if you don’t have a lot of money, then you really need to get out and try to save up.”
If you’re in a hurry to sell your home before it goes up in value, you may want to consider the possibility of foreclosure, Rizzi said, since some people who have sold their homes have taken out home equity lines of credit to buy the property.
If you have some money to sell, you can probably get some insurance, but you’ll need to buy a lot more than you originally planned, said David Krasner, an attorney in Sacramento.
What to do if you do decide to sellYou’ll want to keep an eye on your credit score.
If you have an average credit score, it’s a good idea to have a mortgage or some other form of secured financing to protect against default.
But if you have a high score, a foreclosure lawsuit can take years to settle, Krasler said.
You should also consider how much you’re likely to owe on your home.
Rizvi said the average home value in the U.S. is about $400,000.
If that’s the case, it will take a little more than three years to pay off all the mortgages and other debt, he added.
Even if you’re not able to pay all of the outstanding debt, Ritzvi said, you need to plan ahead for the worst.
It’s very important to have an insurance policy and a home security policy that protects you against theft, burglaries and vandalism, Riazvi said.
You need to have some sort of insurance policy that covers any damages that could occur, he advised.
If your home is damaged, you’ll want a mechanic or contractor to replace it, Risner said.
If the damage is minor, such as a cracked window or a leaky roof, you could get a repair for about $100.
The cost of a full replacement depends on the size and weight of the damaged home, according, to the National Home Builders Association.
The home you’re looking at can be a bit expensive, but it can be worth it if you are willing to spend more money on repairs and maintain the home in good condition, Risalvi said