Becoming a homeowner for the first time is a pivotal step in your career as an adult. While this is an exciting new adventure full of new opportunities, it comes with a price. Homeownership comes with a lot of duties and responsibilities.
While this is generally accepted and totally manageable, we thought we’d provide you with a little guidance. You shouldn’t be intimidated about owning a home. In truth, the benefits are well worth the costs.
Keep reading for our top tips for new homeowners.
Plan for Monthly Expenses
When sitting down and assessing your budget for your new home, you must account for all of your costs. Many homebuyers make the mistake of assuming their monthly mortgage payment is the only important expense of owning a home.
One of the most important tips for new homeowners is to think about your other financial needs, like furnishing the home, moving expenses, closing costs, realtor fees, and more.
Then, there are your recurring monthly expenses. These include your utilities, such as electricity, water, gas, and waste removal.
If your home falls under a homeowners association, you’ll also have to pay HOA fees. These typically range between $200 and $300 a month. Finally, there are household services like phone lines, internet, cable, and more.
Be Prepared for Home Maintenance and Repairs
Now, let’s talk about home maintenance tips for new homeowners. The rule of thumb here is to set aside 1% of your home’s value each year for home maintenance and repairs. Therefore, if you bought your home for $300,000, expect to spend $3,000 a year on maintenance.
Owning a house, as noted earlier, is a big responsibility. If you let small maintenance issues slip through the cracks, they’ll become big problems later on. For example, negative drainage into your basement can cause mold issues and major water damages.
The same can be said about damages to your plumbing. For this reason, we also recommend looking into plumbing tips for new homeowners.
Other areas of maintenance include your yard, roof, appliances, electrical, flooring, foundation, and more.
Stay On Top of Pest Control
Finally, it’s important to understand that a pest infestation can quickly turn your household upside down. If you see a mouse or signs of termites, act quickly. Chances are, more pests are hiding behind the walls, under the floors, etc.
Termite control is especially important, as they can eat through the structural wood supports of your home at incredible speeds. However, you should take signs of all types of pests seriously.
You can prevent most pest infestations by following some simple cleaning tips for new homeowners. Pests are drawn to food and water sources. This includes:
- Crumbs on the floor
- Open pet food bags in the garage
- Unsealed food containers in your kitchen
- Improperly cleaned messes and spills
- Food wrappers under your bed (or your kids’ beds)
By keeping up with the cleaning in your home, you’ll be able to deter most pests from sticking around.
Looking for More Tips for New Homeowners?
Owning a home isn’t for everyone. However, if you’re up for the challenge, homeownership can be substantially rewarding. Follow our tips for new homeowners to make the most of your new home and maintain your place of solitude.
And if you want more tips for keeping your house clean and running smoothly, you’re in the right place. Check out some of our other articles to find more home improvement advice and maintenance tips. Our website was created for homeowners like you.