On September 30, less than six months from now, the National Flood Insurance Program will expire. The National Association of REALTORS® is working closely (link is external) with federal regulators and members of Congress to strengthen the program (link is external) and clear the way for a private market to take hold, but REALTORS® warn the program’s September 30 reauthorization deadline is a threat to consumers.

Policyholders in over 22,000 communities across the country depend on the NFIP to protect homes and businesses from flooding. Without the reauthorization, the NFIP cannot issue new policies or renew existing residential or commercial policies that expire. That is bad for consumers and potential homebuyers, as well as the broader economy. When the NFIP last expired, NAR estimated that 1,300 home sales were disrupted every day as a result. That is 40,000 sales every month.

Talk with an insurance provider about how expiration of the National Flood Insurance Program would hamper the ability to offer mortgages or insurance policies on properties in a flood zone. Then talk with a REALTOR® about what it means in their business and for their clients who are pursuing homeownership. Also look at the Federal Emergency Management Agency’s most recent data (link is external) on how many policies are in effect in your state.

For many, homeownership means having a yard. Having an outdoor space and landscape to tend to is a dream come true for many previous apartment dwellers. However, for someone who has never had to care for a yard before, it can be easy to make costly mistakes. Overusing fertilizer is one of the most common mistakes made by amateur gardeners. Too much fertilizer can stunt plan growth and burn, or even kill, grass. Cutting grass too short is another prevalent problem. While it may keep homeowners from having to mow as often, cutting grass short means it cannot absorb the sunlight it needs to thrive, effectively starving it.

Check out HouseLogic’s article on the ways new homeowners accidently ruin their yards (link is external). Speak with a gardener for the most appropriate lawn care techniques for the climate in your area. Chat with a REALTOR® about what qualities homebuyers look for in an outdoor space.

According to NAR’s Profile of Home Buyers and Sellers, 87 percent of non-homeowners believe they need a down payment of 10 percent or more to buy a home. However, the same report shows that the median down payment for first-time buyers has been 6 percent for the last three years. This means renters who believe homeownership to be financially out of reach may have options. Potential buyers should concentrate on improving their credit score and managing their debt level.

Take a look at NAR’s Aspiring Home Buyer Profile for more information about the current issues affecting renters. Speak with some renters in your area about their plans and opinions regarding homeownership. Chat with a REALTOR® in your area about former renters they helped make the leap to homeownership.

How does a homeowner know when to spend a lot of money on a home project versus when it is all right to go a cheaper route? When taking bids for a renovation project, it can be tempting to take the lowest offer, but if the highest bid comes in at $75,000 and the lowest is $30,000, there could be a reason the low bid is so low. Owners should look at NAR’s Remodeling Impact Report to see what the average cost of a particular project is and compare those costs to their bids. Sometimes taking the higher bid saves more money in the long run.