Are You Starting the New Year with an Important Real Estate Investment?
The end of the year is not the time when many residential or commercial real estate transactions take place. Now that the new year has arrived, however, it is time for many real estate brokers to start the work of finding their clients the homes and the businesses that they want. With the help of the most experienced commercial real estate insurance teams, in fact, many transactions will be finalized in these next few weeks. Taking advantage of the days when everyone is finally back in the office, there are many potential business owners who are able to sign contracts on buildings that will help them grow their companies and be more successful in the upcoming calendar year.
Both large and small real estate investors may start the year looking for spaces that will allow for more growth in the new year. From companies that are looking for new spaces to expand their data center offerings to entrepreneurs who are ready to open their dream boutiques, it is important to realize that this is the time of the year to start making your business goals a reality.
Commercial Real Estate Insurance Helps Both Investors and Sellers Protect Their Investments
Having the right kind of property insurance is a prerequisite for nearly all loans. In fact, the insurance that you need for any real estate purchase plays a substantial role in the payments that you will have to make. Consider some of these other facts and figures about the role that insurance services play in many of the commercial and residential purchases that are made every month of the year, as well as the role of insurance in other parts of our lives:
- 73% of respondents in a recent survey reported that they do not have a flood insurance policy that is separate from their standard home owners coverage.
- 55% of Millennials are interested in investing in real estate, according to the Real Estate Investing Report. This is the highest percentage of all demographics questioned.
- 84% of respondents in a 2017 survey agreed that most people require some amount of life insurance coverage.
- It is important to understand the kind of coverage that you need because there are eight standard home owners insurance policy types.
- 93% of American home owners have at least basic home owners insurance.
If you are starting the new year with a real estate investment, it is important that you pay careful attention to the kind of residential or commercial real estate insurance that you will need.