Here are some of the most important things for you as a new homeowner. Even if you are an experienced home buyer, you will be able to use the following six tips.
Do not spend more money than necessary on furniture and refurbishment.
You have most likely just spent a large part of your life’s savings on a down payment and so money can be tight. Not only is your savings exhausted, but monthly expenses are also higher – it simply comes with ownership of a home. In addition, there are bills on water, electricity and insurance.
Of course, you want to personalize your new home and upgrade as much as possible and replace the old furniture for something newer and nicer. However, this may cause your expenses to become depleted if you try to improve everything at once. Give yourself time to be accustomed to your new housing costs and rebuild a good savings – and don’t worry, the furniture will still be there when you need them, and not least, afford them.
Do not underestimate the importance of tools and maintenance products.
One of the new expenses most often accompanied when buying a home is repair and maintenance. If something breaks, the toilet becomes clogged, your roof is leaky or needs maintenance, there is no landlord to call. We recommend that you do not underestimate the importance of acquiring tools and maintenance products, so you do not put yourself in a stupid situation when you need them – and it’s 100% certain you’ll need them.
Contact a qualified craftsman.
This point may be contrary to the above point, but it does not really matter at all. You should not try to save money on improvements and repairs that you are not qualified for – it can be very expensive for you. Your home is both the place you live and an investment. It therefore deserves a lot of care and attention if you need something out of it in the end. There is nothing wrong with painting the walls yourself, but if there are no wires for example. To open your garage, do not start cutting a hole in the wall, but call a qualified craftsman. Hiring professionals to do the job is the best way to keep your home in top shape while avoiding damage to yourself and the home.
Get help with your tax return.
You probably hate the idea of spending money on an accountant, but it is really advisable to have a professional look through your papers when you need a new home. Owning a home can significantly change most people’s tax and deduction situations. We therefore recommend that you have your tax return prepared professionally, at least in the first year.
Get a good insurance.
Typically, your lender will encourage you not only to acquire a home insurance but also an insurance to cover income and total loss. However, homeowners insuranceis not the only insurance you may need. If you share your home with others who are dependent on your income to pay loans and other monthly expenses, whether it’s a boyfriend, cohabitant, husband / wife or child, you must have a life insurance in which this person is mentioned as a recipient so that he / she will not lose the house if you are injured and resigned to death. The same applies if you face an accident and become disabled. In such a case, you must have an insurance to replace your income.
Take responsibility for your housing economy.
With the great freedom you get by owning your own home, there is also a great responsibility. You must steer your finances with a hard hand and make sure that your home is well maintained so that your home stays the best investment you have. So our advice is to protect your investment and keep your family safe. Do not let the excitement of being a new homeowner lead you to bad decisions or omissions that could threaten your financial or physical security.