Becoming a homeowner is a major milestone in life. It also brings a lot of new responsibilities, tasks and costs.
A home requires a team of professionals to keep it in good shape, from a plumber for emergencies to an HVAC company for routine maintenance. Developing the right network can save you time, money and stress. Doing your research and knowing what you can benefit from having is a great tip for any new buyer. Https://www.cinchhomeservices.com/faq-library/-/faq/home-warranty-guide-for-first-time-home-buyers and sites alike provide great information on home services.
- Create a Maintenance Schedule
A new home is a big investment, and it’s important to take the time to learn about your property and what’s involved in keeping it in good condition. The best way to do this is by implementing a maintenance schedule and sticking to it.
It’s also helpful to get to know your neighbors and introduce yourself. This can help you make friends and find service providers like window cleaners, landscapers and plumbers. Plus, your neighbors will be able to tell you where the main electrical panel is located so you can practice shutting off power, and they can also remind you to check smoke and carbon monoxide detectors and stock up on replacement batteries.
It’s recommended that homeowners save three percent of their home value to cover general home maintenance. This can help you avoid surprise repair bills and keep your home in good shape.
- Have a Safety Net
New homeowners should make sure they have a safety net in place. This should include a financial plan and an emergency fund that will cover the costs of unexpected home problems. It should also include a list of home professionals that can help with maintenance, repairs and emergency situations.
Many first-time homeowners get swept up in the excitement of owning their first home and forget about important steps that will keep them secure financially and physically. Following a few practical tips early on can prevent costly mistakes that could jeopardize all the hard work and savings that they’ve worked so hard to accomplish. From having a home inspection to finding a reliable handyman, these tips will help first-time owners have the best possible experience as homeowners.
- Check Your Energy Bills
New homeowners often have sticker shock when they first get their energy bills. One way to help prevent that is by learning about the different charges on a typical electricity bill. He suggests comparing rates between home energy providers and looking for things you can do to lower your bill, such as turning off appliances that are always on. He says this could cut your bill by as much as 12%.
A professional energy audit is another option for new homeowners to consider. These audits can show you the cost of running your home, and can even reveal
problems such as drafty rooms or poor insulation. They can also help you find ways to reduce your energy costs, such as using appliances during off-peak hours.
- Schedule a Home Inspection
Home inspections help new homeowners understand the condition of the property they’re about to buy. Inspectors look for things like structural damage, electrical issues and plumbing problems. This allows the buyer to negotiate with the seller or back out of the purchase if there are major concerns.
Homebuyers should always attend their home inspection to get a first-hand look at any issues the inspector finds. Even though most of the findings will be listed in the report, having a discussion with the inspector in real time will provide further insights into how serious these issues are and whether they’re deal breakers.
Home buyers should also ask friends or family for a recommendation when selecting an inspector. An online search can also help them find an inspector with a good reputation.
- Set a Budget
One of the best things you can do for yourself as a new home owner is to set a budget. This will help you stay in the know about how much you can spend, what you’re saving and when you might be over-extending your resources.
Start by determining your normal monthly expenses, including mortgage or rent payments, utilities and transportation costs. Be sure to include debt payments and savings, as well.
Next, make a list of features that you want in your home. This could include everything from an updated kitchen to a yard big enough for your pets. Be realistic about your goals and remember that homeownership comes with additional expenses that may not have been included in online mortgage calculators. Also, be sure to keep track of all of your finances, mortgage statements and deeds in a secure place.