The interest rates are cheaper than ever, the real estate prices are falling: The purchase of a property is currently very popular. Anyone who bets on “concrete gold” should sufficiently secure the new four walls – otherwise the dream of a home can quickly become a nightmare. What policies owners need and how they protect themselves from financial bottlenecks, explains CostBend.

Home ownership is becoming increasingly popular. For example, according to a survey by real estate scout24, one in three (34 percent) plans to buy an apartment or a house in the next two years. 1 Most people know that this requires solid financing. Follow-up costs and possible damages however are gladly displaced. “Unexpected repairs or low reserves can bring owners to their financial limits quickly,” says Sandra Kniesigk, insurance expert of CostBend.

Tip 1: Protect against unexpected risks
Mostly a loan is necessary to finance the dream of owning a home. To hedge this loan, banks usually require risk protection. Here is a flexible risk life insurance, which takes over the remaining debt in the event of death. The sum insured is adjusted to the loan: If the credit shrinks, the sum insured and thus the contribution also fall. To provide for the family in case of emergency, at least one more risk life insurance makes sense. For example, in case of death of a partner, running costs can be covered.

Tip 2: Regularly repatriate money for repairs
A new heating system is due, the roof is broken or the plaster is crumbling: No owner comes around for repair or renovation work or the renewal of technical equipment. With new real estate experts recommend to cover annually 0.8 to one percent of the purchase price for such cases – with older accordingly more. 2 Important: Anyone who puts money aside for unforeseen expenses should rely on flexible products. They allow you to access the saved at any time – without financial losses.

Tip 3: Liability insurance protects against claims of third parties
Builders are legally obliged to be liable for any damage caused by the construction activity. This can quickly become expensive – especially in the event of personal injury, for example if a cyclist slips in front of the house on the dirt road soiled by building rubble and injures himself.

Tip 4: insure property against storm and hail
A homeowners insurance is also indispensable. It protects the home against damage from storm, hail, lightning, fire and tap water. Homeowners should check carefully when selecting whether the policy includes all the required services – for example, whether, as with CostBend, garages and carports are also insured.

Tip 5: Optional – the household insurance
Who wants to secure not only the house, but also the inventory, should complete a home insurance. If plasma TVs or furniture are damaged, for example, by fire or tap water, they will break in. For homeowners insurance covers only objects that are permanently connected to the property, such as parquet floors or fitted kitchens.