If you discover your home’s value has significantly increased, it might be time to reevaluate your homeowners insurance policy. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that if your home is undervalued in your policy, it could mean you’re not covered for the cost of its full value if something were to happen. When you first bought your home and drew up an insurance policy, it should have covered at least what you paid for your home. But, a few years or decades later, your home has likely increased in value. Your insurance company probably has policies in place for general inflation, but if you find your home has dramatically increased in value, or you’ve added an addition or made updates, it’s time to talk to your home insurance company. Check out below to see what sold in Lakewoode Parkhomes in April 2020:
39613 Villager Wood Lane, Novi: 3 bedrooms, 1 bathroom, 1,005 sq. feet, Sold Price: $146,000
Lakewoode Parkhomes Home Sold
April 2020
It’s also worth considering your policy’s stance on cash value, or replacement costs, which can be negotiated as part of the policy. For more information on Lakewoode Parkhomes, or similar Northville or Novi neighborhoods such as Crosswinds West, Country Place and Highland Lakes, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.