E.B. (Evie) Solomont

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85 appearances 1 recordings 1 series first heard Oct 2021 last heard Oct 2021

E.B. (Evie) Solomont’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Owning a Second Home Raises Tricky Financial Questions · 28 Oct 2021 podcast
You're going to have insurance on both homes anyway, but insuring a second home historically has been more expensive than insuring a primary residence, and it's somewhat intuitive.
In the eyes of an insurer,
The homeowner, you know, for a vacation home, for example, the homeowner may not be there most of the time.
So if there's a leak or damage of some sort, the homeowner isn't present and may not know about it.
And it stands to reason that the damage could get worse before it's found.
That is starting to change as this concept of co-primary homes or splitting your time equally between two homes becomes more prevalent.
Insurers are coming up with alternatives.
But traditionally, that's been the rub.
Right.
A second home can be, you know, a relatively modest cabin in the mountains.
And just to put things into context, a lot of us think about a second home as, you know, an extreme luxury.
But it's also, it can be a really smart investment.
There's been a lot of equity created over the past 18 months.
And for a lot of people diversifying their real estate,
you know, is a specific financial strategy.
You know, if you have, you know, one larger home in one city and that market is rocky, you're pretty exposed.
If you've got two or three smaller properties in three different markets, you might be able to weather the storm a little bit better.
Right.
So if you have more than one home, you definitely need to make sure you know where the important documents are.
You know, most of us carry our licenses in a pocket, in a wallet, in our phone, something like that.
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