#NerdWallet – Make Your Move with Mari

Don’t Forget about Insurance

Your premium will depend on things like where you’re buying, the home itself, and the coverage you choose.

If buying a home is on your radar, you’ve probably been keeping an eye on mortgage rates and home prices. But don’t forget about homeowners’ insurance.

Insurance has always been part of owning a home. But over the past few years, it has become a larger expense for many homeowners – something that’s especially frustrating when affordability already feels tight.

Here’s what you should know.

Insurance Costs Have Gone Up

You’ve probably heard stories from friends or family about their premiums increasing.

While no one likes rising costs, knowing what to expect can help you plan ahead. Your first insurance payment is typically included in your closing costs, but after that it’ll become part of your monthly housing expenses.

rate increases are slowing

Most of the headlines focus on how home insurance is getting more expensive. And that’s true. Depending upon where you live, rates may have gone up dramatically due to weather or the type of home you own. (Think Florida where severe storms and the quality of home construction have combined to cause major increases.)

But here’s the part that’s easy to miss.

Insurance premiums are still rising.

But they’re not rising as fast as they were.

According to the latest report from Rate Insurance, 2025 saw the first slowdown in annual premium increases since 2019 (see graph below):

That doesn’t mean premiums are getting cheaper. It simply means the rapid increases of the past several years may finally be starting to ease – a small but welcome step in the right direction.

But what you’ll pay in one part of the country can look very different from what someone pays somewhere else.

Where You Buy Can Make a Big Difference

Insurance costs vary because some parts of the country experience more claims than others.

Your premium will depend on things like where you’re buying, the home itself, and the coverage you choose. A condo has different insurance requirements than a stand alone house.

On Cape Cod, some locations may require flood insurance, as well. This is information your realtor should have. It’s important not to assume based on the location of the home that this insurance is not required. You’d be surprised at what areas are considered to be in a flood zone!

Ways To Lower Your Costs

While you can’t control everything that comes with buying a home, you can control how prepared you are. If you’re crunching the numbers and trying to find ways to save, Insurify and NerdWallet offer these tips that can help you get the best insurance price possible:

Shop Around – Compare quotes from multiple companies.
Bundle Policies – Combine home and auto to see if a bundle price is cheaper.
Ask If There Are Discounts – Don’t miss out on savings you may qualify for.
Highlight Upgrades – Features like a new roof or storm windows can cut costs.
Improve Your Credit – A stronger credit score can mean better premiums.

One of the smartest things you can do is get an insurance quote before you make an offer. That way, you’ll know what your monthly housing costs are likely to be before you commit.

An insurance professional can walk you through your options and help you find coverage that fits both your needs and your budget.

Bottom Line

Homeowners insurance has become a bigger part of the homebuying conversation. But it doesn’t have to become a bigger source of stress.

The key is knowing what to expect before you buy. Get an insurance quote early, factor it into your budget, and lean on trusted local professionals to help you make the most informed decision possible.

If you wish to speak with an insurance professional, we can connect you with several who we work with. Just contact us at 508-388-1994 (Mari and Hank) or 781-264-5517 (Colleen) and we’ll pass on contact information.

Mari, Hank, and Colleen

PS: Don’t forget to let us know if you’ll be attending our “How You Can Sell Your House This Fall” seminar next week on Wednesday, August 12, from 6:30pm – 7:30pm at the Cape Space/Mashpee Chamber offices in Mashpee Commons.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Is Co-Buying the Answer?

A creative way to turn someday into now.

For a lot of potential first-time home buyers, affordability is what’s standing in their way. But some buyers are getting creative and finding a way to still make the numbers work – and that’s through co-buying.

The Dream Is Still Alive. The Math Just Isn’t Working for Everyone.

Young people haven’t given up on the dream of owning a home – not even close. According to FirstHome IQ, homeownership still ranks among the top life goals for the next generation.

The problem? 73% of Gen Z and millennial buyers cite affordability as the reason for not making homeownership a priority. And it shows. First-time buyers now make up just 21% of all home purchases, the lowest share since the National Association of Realtors (NAR) started tracking the data in 1981.

But still, some buyers are making it happen. And a portion of them are turning to co-buying to get their foot in the door.

So, What’s Co-Buying?

Co-buying means purchasing a home with someone else, like a friend, sibling, or unmarried partner. You combine incomes, split the down payment, and share monthly costs. For some people, it’s a creative way to turn “someday” into a concrete move-in date that’s just around the corner.

And it’s catching on fast, just look at where things stand today. According to CoBuy.io, 64 million Americans now co-own a home with someone they’re not married to. In fact, 31.5% of home purchases involve co-buyers (see graph below):

Why It Works

Here are just a few of the top reasons buyers are going this route, according to NerdWallet:

Quicker path to homeownership: If owning a home is a serious goal for you, buying with someone else can help make that reality on a shorter timeline. Two or more people can save up a down payment a lot faster than one. That’s less time waiting and more time building equity in a place that’s yours.
More purchasing power: With multiple incomes going toward the home purchase, you might be able to afford a nicer home or live in a more popular neighborhood. Sometimes teaming up means getting the home you actually want, not just the one you can barely afford on your own.
Easier loan qualification: Added income from more than one buyer can also help with your debt-to-income (DTI) ratio, which the lender will calculate based on all the borrowers.
Lower housing costs: Splitting up a mortgage payment multiple ways could maybe even make owning less expensive than renting Plus, sharing costs can make repairs or renovations more manageable, too.

Things To Keep in Mind

If you’re considering going this route, there are some things you’ll want to think over. For starters, co-buying works best with people you trust and share financial goals with. So, before moving forward, make sure everyone agrees on how costs are split, who handles what, and what happens if one person wants to sell down the road.

That’s why a written co-ownership agreement can be a smart move. It keeps everyone on the same page and helps avoid headaches down the line. Think of it less like a legal formality and more like a game plan for your new investment.

Bottom Line

Affordability challenges are real, but they don’t have to mean waiting indefinitely. Co-buying is helping some first-time buyers stop waiting and start putting down roots.

If you’re curious whether it could work for your situation, let’s talk. Reach out today and let’s figure out your path to homeownership together. You can always find us at 508-388-1994 (Mari and Hank) and 781-423-8662 (Colleen).

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

The Best Time to Buy is Here!

Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price.

If you’ve been watching from the sidelines, now’s the time to lean in. It’s officially the best time to buy this year. According to Realtor.com, this October will have the most buyer-friendly conditions of any month in 2025:

“By mid-October, buyers may finally find the combination of inventory, pricing, and negotiating power they’ve been waiting for—a rare opportunity in a market that has been tight for most of the past decade.”

So, if you’re ready and able to buy this month this means you should see:

More homes to choose from
Less competition from other buyers
More time to browse
Better home prices
Sellers who are more willing to negotiate

While October 12-18 is the national “best week,” conditions are in place now for buyers who have been waiting to upsize, downsize or right size to find the properties they’ve been looking for at prices that they’re willing to pay.

Here on Cape Cod, inventory is increasing as are days on market for listed properties. This means sellers should be interested in negotiating prices and terms so they can move on with their lives. Mortgage interest rates are also the lowest that they have been in a year helping buyers afford what are still high prices.

And remember home prices are lower elsewhere in other parts of Massachusetts, as well as New England and the country as a whole. So, you don’t have to limit your search to just on Cape. Through the various connections we have with realtors off Cape and elsewhere, we can refer you to a very qualified Realtor who can help you with your search.

What the Experts Are Saying

Realtor.com isn’t the only one saying you’ve got an opportunity if you move now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”

Daryl Fairweather, Chief Economist at Redfin, puts it like this:

“Nationally, now is a good time to buy, if you can afford it . . . with falling mortgage rates and significantly more inventory, buyers have an upper hand in negotiations.”

And NerdWallet says:

“This fall just might be the best window for home buyers in the past five years.”

How To Get Ready

To make sure you’re ready to jump, talk to us now. We can give you the information you need to decide if this is the time for you to buy. We can discuss timing, strategy, and how you may be able to buy your new home before selling your current one.

You can find us at 508-388-1994 or msennott@todayrealestate.com. We’re here to help…

BTW…Hank’s new book of short stories will be available soon. Please watch for it. Copies “signed by the author” can be purchased via Venmo. Contact Mari for details. Thanks.

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.