Vargas & Vargas Insurance

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Dorchester, MA 02124

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The Best Things to Buy Used

When you need something, it’s up to you to decide whether you want to purchase something brand new, or if it’s ok to save some money and get something that has been owned by someone else. For some things, like food, mattresses, electronics, medical supplies and swimwear, buying new is the only true option. For other items, buying “used” is the way to go.

Buy Used

Here are a few examples of items that you can (and should) save some money on by buying them used or pre-owned:

Books and Entertainment

If you’re looking for something new to play with, you will often find that things you buy used will get you the same experience for less money. This is especially true when it comes to things like books (if you’re still reading the kind that has pages instead of buttons) and games (just make sure that it still has all the necessary pieces and parts).

Bonus tip: If you have an e-reader, you can get many books for free through the internet. Check out websites like Project Gutenberg and the Barnes and Noble Free Ebook page to see if you can find something you want to read, completely free of charge.

Clothing and Jewelry

There is no need to pay the ‘new’ premium for clothing and jewelry. Look in local thrift stores and at yard sales for clothing and accessories that you like – just make sure to check for wear and imperfections before buying. Also ensure that you wash items thoroughly before wearing them. There are a few exceptions to this advice, though: underwear, swimwear, and shoes should all be bought new, for hygiene’s sake.

Pets

Ok, we’ll admit that “Used” is a little bit of a harsh word when it comes to pets, but the premise is solid. Getting a ‘new’ pet from a breeder can be very expensive, and there are probably plenty of dogs and cats at a shelter near you that need a new family. Giving these loveable pets a home is a great thing to do, and it is also significantly cheaper than getting a premium, purebred puppy from a breeder.

Furniture

Want to replace or add a piece of furniture to your home? Don’t pay an arm and a leg at a furniture store – check out thrift stores and yard sales until you find an item that you can buy used that will fit in with your decor.

Houses

Don’t stop at furniture – buy your homes used too! While we understand that some people like the freedom of designing and constructing a new home, buying a pre-existing house can save you approximately 20% of the bottom line – that’s a huge chunk of change when you’re talking about something as expensive as a home!

It’s also important that you remember to give Vargas and Vargas Insurance Agency a call if you purchase a home or a car. We will work on getting you a home insurance policy that will protect your new (or “new to you”) items with premium coverage, and at a low price. Just call 617-298-0655 now for your free and no obligation quote.

Photo credit: reynermedia / Foter / CC BY

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Rental Property Insurance: Being a Landlord

As experts in rental property insurance, we deal with a lot of landlords here at Vargas and Vargas Insurance Agency. This has lead us to one universal conclusion: not everyone is cut out to be a landlord. Owning a property that you rent out can be a great way to acquire income, but there are some aspects of the title that not every person is suited for.

Rental Property Insurance: Being a Landlord

If you’re thinking of purchasing a property in order to become a landlord, we encourage you to ensure that you’ve done your research before spending your money. Here are some of our tidbits of advice on how to be a successful landlord.

Prepare for the worst.

Being a landlord is not a purely financial transaction. If it were, anyone could do it! Instead, you will need to also invest lots of time and energy into your rental property. Don’t get into the business if you’re not prepared to deal with tenants that constantly have maintenance requests, or don’t pay their rent on time, or generally drive you up a wall with their issues. If you’re up for that, then you may just have what it takes to be a landlord.

Get your finances in order.

If you are ready to buy a property for renting, you need to check and double check your finances. Before you even think about choosing tenants you need to have the following things in order:

  • Accounting and recordkeeping processes
  • Tax information, including interest, mortgage, and expenses
  • Rental property insurance policy (With the help of Vargas and Vargas, of course!)

It is a good idea to recruit the help of a financial professional to ensure that you have all of your financial bases covered, and that you’re not missing anything important.

Formulate your paperwork and policies.

Make sure that you check all of your paperwork over with a lawyer to determine if you are following the proper local, state, and national guidelines. A lawyer can also help you set up an LLC so that you aren’t personally responsible for problems with the property.

You will also need a set of ground rules before you start interviewing potential tenants. Will you charge a late fee for rent? What is your ruling on pets? What hours will you accept phone calls? How often will you be dropping by to check on the property? You can always amend these rules later, but knowing what you will allow and what won’t be tolerated will save you headaches later down the road.

Check on your property.

Later down the road, when you have your property set up and occupied, you need to make sure that you check on it every now and again. This is the only way to know for sure that the tenants aren’t destroying your place or ignoring important maintenance issues. Some landlords prefer to drop by unannounced so that they can see how their tenants live without being able to clean and prepare for a landlord’s visit.

If you’re sold on the idea of becoming a landlord, you need to call 617-298-0655 to speak with a Vargas and Vargas Insurance representative about your rental property insurance policy. We can get you a policy that will protect your new investment without causing you to budget for exorbitant insurance expenditures.

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