After months of endless house hunting in today’s competitive real estate market, you’ve finally managed to secure the home of your dreams. Isn’t that an entirely different type of happiness that’s rarely compensated with anything else?
Given the option, there are few of us who would willingly volunteer to pull leaves out of the gutter every weekend. But when the biggest investment in your life is your home, maintaining it is no longer an option, it’s a must.
Becoming a homeowner in itself is an exciting and fulfilling experience, but let’s not forget that it’s the single largest financial investment you’ll probably very make, and we understand that it’s stressful if you’re not prepared.
Home maintenance can sometimes feel like a daunting chore, especially if you’re a new homeowner because you’ve probably never come across a boiler up close in your life, but now this matters.
However, it doesn’t have to feel overwhelming. You need to understand a home operates with the different seasons from coming to life during spring and finally hunkering down for the freezing winters. Here are 5 essential things you should do to begin your journey off on the right foot.
Attend Home Inspection
The first piece of advice we’d like to share with all the new homeowners is to inspect and learn as much as you can about the inner workings of your potential new home. You ask why? Well, this in itself is a great learning experience that gives you the opportunity to see the house through an expert’s eyes.
Apart from gaining valuable insight about the house location and if there’s a requirement for repairs, you’ll further receive home service plan tips and advice so you can create a budget for your future expenses.
It’ll be good if you could pen down some notes and even ask the realtors questions about the property.
Create a Homeowner Journal
During the entire purchase process, you’ll notice that there’s a ton of paperwork to be filled. In fact, for this to accumulate as a homeowner.
What you can do is purchase a binder to safe keep all important documents, such as mortgage and homeowners insurance papers, warranties, moving expenses, etc. Keeping everything in one place will not only make your life easier but will come in handy if you ever decide to put your house on sale in the future.
Introduce Yourself to the Neighbors
This is very important as building a good rapport with your neighbors will help make your day-to-day life more enjoyable. Moreover, you might just need their help in the future to grab your mail or water your plants if you’re traveling.
Forming a relationship with your neighbors is also good for safety reasons because it’s comforting to know that there’s someone looking out for your home and you, and even check on things while you’re away.
Start an Emergency Savings Account or Fund
It’s vital that everyone have an emergency saving fund, but this is especially important for homeowners. Not only will you have entirely new expenses as a homeowner, but you should be financially prepared to deal with unexpected problems that require the spending of some extra cash.
From new plumbing issues, new roof, new furnace, and mold problems, all these repairs are rather expensive and might cause you financial stress if it’s out of your budget. Therefore, it’s advisable to start saving early so you don’t have to worry about cash flow if there’s any repair work to be done.
Don’t Jump Into Large Renovations
This is perhaps the biggest mistake new homeowners tend to make, which is to take on major remodeling projects without thinking twice. Unless you feel your home is not in a livable condition, it’s advisable to hold off such costs for at least the first six months to one year.
This will allow you to get a feel for the home and figure out how it all works for you. This also means that furniture and home decor shopping should be put on a halt for the time being. After a while, you might realize that both your priorities and needs have changed.
Keep Up With Routine Home Maintenance
Staying up-to-date with your home maintenance will help you prevent bigger, more costly, and value-damaging issues down the road. By making sure your house is well maintained, you’ll be putting less into it in the future.
Being a homeowner is an achievement in itself. However, the main achievement is in maintaining your house and budget at the same time. We hope you’ll keep the things mentioned earlier in mind when you’re stepping into your new home!