Tuesday, 15th September 2015
A set-and-forget residential investment strategy is about having your all bases covered, especially when it comes to building insurance.
Not only will it cover you in the event of a rebuild, there is generally a personal liability component built in to protect you from legal liabilities as a result of any defects in the building.
In the case of a Townhouse or House and Land I always recommend building insurance.
I encourage my clients to shop around for their premiums because the cheapest policy may not be the best policy if you need to make a claim.
And while generally you don't need building insurance if you purchase an apartment (because it's covered under the Body Corp or Strata management fees) it may be wise to research it as added protection.
Until next time,