Buying your first home is a right of passage for many people today…even more so than getting married. In fact, while we see 79.36 million owner-occupied homes in the United States, statistics only show 62.34 million married couples. You thought about what you needed to do to save up for your down payment. And you made sure to get pre-approved before you looked for a Havasu home. But have you thought about what happens after you become an actual homeowner? Here are a few common first-time homeowner mistakes many people do not think about until it is too late.
Common First-Time Homeowner Mistakes (And How to Avoid Them)
Not Performing Regular Home Maintenance Tasks
Maintaining your Havasu home not only shows pride of ownership, but it can save you money. How? First, it helps keep your systems running properly. Second, it helps identify and contain small problems before they become larger, more expensive ones. Something as simple as changing out your air filters once every three months in cooler times and once a month during the heat of summer helps your air conditioner run more smoothly. You should also hire a professional to clean the dust and debris build-up on/in your air conditioning unit itself once a year. This prolongs the life of the air conditioning unit as well. Another annual task to add to your maintenance list is to clean out your dryer vent (the one that goes from your dryer to the outside of the house). While cleaning out the lint trap after each use is smart, lint also gets trapped inside of the vent. This does not allow for proper ventilation, making your dryer work harder to perform its duties. HUD provides a Healthy Homes Maintenance Checklist that outlines where you should focus your maintenance efforts.
Hiring the Wrong Person for the Job
Whether your Havasu home needs repairs or you want to remodel it, you need to find the right person for the job. For example, do not hire a general “handyman” for electrical or plumbing work. Find someone who specializes in whatever work you need done. Otherwise, it could end up costing you much more than you think. Also, make sure to do your homework. Never hire the first name you find on the internet. Sure, they might actually turn out to be the right one. But you should talk to several people, get quotes from all, and check out their reviews before deciding on who to hire.
Not Considering New Homeownership Expenses
When renting, you probably paid for your utilities yourself, separately from your monthly rent payment. But as a homeowner, you become responsible for property taxes, homeowners insurance, and HOA fees as well. These add to your bottom line. Talk to your lender about paying your taxes and homeowners insurance out of escrow along with your mortgage payment and interest. This makes it a little easier to budget. Also, ask your REALTOR® about HOA fees (if applicable). That way, you can plan on putting away enough money throughout the year to pay them when they are due. Then, you won’t be hit with a huge bill and have to scramble for the money at the last minute.
Firing up the Home Improvement Engine Right Away
I get it. You walked through the home and already started thinking about ways to make it more suitable for your needs. But before you start tearing away walls and ripping up the flooring, take a breath. What you think you want to alter may change over time. Start with simple things first. New paint. A change of furniture. Then, once you have lived in the space for a bit, think about how your day-to-day lifestyle is affected by your home’s layout. You might be surprised to find out that what you thought needed changing right away has actually grown into something you like.
Not Communicating With Your Significant Other
Finally, the key to a healthy, long-lasting relationship boils down to communication. Do not assume that what you want in a Havasu home is what your partner wants, too. Before painting, rearranging, or even changing a light fixture, avoid arguments and stress by discussing it with your significant other first.
Some of these may seem like simple things. Others may be things you never even thought about. All of these common first-time homeowner mistakes are easy to avoid. Congratulations on your new home!
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