Sheila and I have started to figure out what we need to do to get out of the apartment that we are in and buy a small house. We are working on a check list after talking to various people about the process. Obviously the first thing is to come up with enough money for a down payment. That is not easy for us, but we are getting close to what we think we need if the house is small. Apparently we also need to get home insurance quotes, at least that is the case if you need to borrow money from a bank. They are looking after their own interests and they expect that you will need to have insurance to make sure that you can pay them back. It makes a whole lot of sense if you are a bank.
You can imagine what might happen if someone bought a house with no insurance on it and it was destroyed. Continue reading