Owning a home is a great feeling! For many homeowners, it’s a wonderful achievement they’ve worked hard to accomplish. With all the savings, investments, and planning that goes into purchasing a home, it truly is a milestone to be celebrated.
All the same, being a new homeowner comes along with a whole new set of responsibilities. Many of these can catch a new homeowner off-guard, no matter how diligently they planned for this accomplishment.
Let’s take a look at some important components of home ownership, to ensure you’ve got a leg up on any and all possible challenges you might face in the years to come.
Top 10 Steps to Take as a New or Pending Homeowner
1. Get a document binder
Documentation is highly important when buying a home. That’s why you must get all your documents gathered into one place. This can be done best with the help of a document binder.
If you haven’t already, you should get a homeowner’s binder for all your documents right from the beginning. You can keep the warranty papers, tax invoices, and so forth, all in a safe place where they’re easy to locate.
2. Refrain from investing in major renovations right after you move in
Right after moving in, it’s wise not to invest in any big construction or home improvement work. This is because you’ll want to settle into your home and get used to its various features before making a significant commitment.
Within the first 6 months, many of your perceptions about the house may change. Small glitches which you ignored initially may attract more of your attention, and the big things that initially bothered you may become totally acceptable.
If you’re a new homeowner who’s chosen to purchase an older house, Practical Renovation Concepts For Older Homes has some fantastic ideas.
3. Do one thing at a time
If you have several home projects to finish, take them on one at a time. This approach offers multiple benefits.
It’s a great way to avoid financial stress, as well as the time burden of facing too many projects at once. Moreover, you avoid the stress of your home getting messy and noisy with multiple construction projects.
4. Early detection of problem
If you are buying a used home, it’s fairly typical that there will be obvious issue up front, as well as additional challenges you’ll only discover once you’ve moved in. It is prudent to pay special attention within the first few months after moving in, so you can be proactive about any structural or functional issues you encounter.
5. Save money for emergency repairs
Emergency repairs may be needed at any time. Sudden problems can pop up without notice, giving you very little time to arrange for the funds needed to properly address an urgent issue. Once you’ve got all of your initial costs taken care of, make sure you begin setting aside an emergency fund as soon as you can.
6. Plan the energy usage
You can save a lot of money by making your home energy efficient. For this, you need to track the overall energy usage home and its various systems and appliances. Trends for your home and your area should be available via your local utility providers. Use this information to inform an realistic monthly budget.
7. Get in touch with neighbors
It is always beneficial to build healthy relationships with your neighbors. This will enable you to get help on short notice (e.g. dropping in to feed the animals if you’re on a short trip) as well as established rapport in the event of an emergency. Take the time to generate positive relationships, in the interest of socialization and mutual support.
8. Knowing the water valve
It’s critical to know where your main water valve is located. In the event of a sewage emergency, this is not something you want to be left guessing about!
9. Get a toolbox
Every homeowner ought to have a toolbox to manage basic household tasks. When something goes awry, you certainly don’t want to get caught up in a mess without something as simple as a hammer or a wrench.
10. Get to know the electrical system
Locate your breaker box, and familiarize yourself with the various switches. In the event of a power outage, or even a simple electrical short, you will definitely want to know which switch to flip to get things back into working order.
If you follow these 10 steps, you’re guaranteed to be well prepared for home ownership. As always, Birdseye Construction is here for you to assist with your home renovation projects!
Click here for a free estimate!