Owning a home is a big undertaking. In addition to making a large financial investment, becoming a homeowner means you are responsible for every aspect of your house. That includes everything from repairs and improvements to buying adequate homeowners’ insurance and filing property taxes annually. If you are a new homeowner, there may be aspects of owning a home you aren’t aware of. Learning about these elements is essential to feeling comfortable owning your property and ensuring your investment remains in good condition for the long term. Explore these six things many homeowners don’t know but should.
1. Make Necessary Repairs
One of the best actions you can take as a new homeowner is to make the necessary repairs outlined in your home inspection report. Look at this document to determine what repairs you need to perform. There may be small repairs, such as fixing cracked tiling, that you can take care of yourself using affordable, quality tile tools to repair the issues. For more serious issues outlined in your home inspection report, such as replacing part of the HVAC system, fixing structural problems, or installing new plumbing or electrical elements, it is best to hire a qualified contractor who will get the job done right so you don’t run into problems later.
2. Give Yourself Time to Adjust
Besides making necessary repairs before or after moving in, give yourself time to adjust as a new homeowner. Many expenses come with buying a house, such as closing costs, mortgage payments, property insurance, and moving expenses. If you made additional repairs before moving in, the overall cost of moving could be quite high.
Before buying new furniture and appliances, or making aesthetic changes to your home, give yourself time to settle into your new budget. Then start by making minor changes, such as switching the locks and installing blinds or curtains for privacy. Familiarize yourself with your new environment and know where important elements are located and how they work, such as the water and gas shut-off valves and your circuit breaker panel.
3. Take Care of Maintenance Issues
As you become more familiar with your new home, maintenance issues arise. Develop a routine maintenance plan for important elements in your home to prevent unwanted surprises. The following are typical areas where a routine maintenance plan works to minimize future issues:
- Rain gutters
- Backyard
- Deck or patio
- HVAC system
- Plumbing
- Sump pump
- Furnace
If you develop a consistent maintenance routine for these items, you can catch and address issues before they become costly or create dangerous living conditions.
3. Check All Detectors
One action that all homeowners should take upon moving in is to check all detectors in their homes. Test the smoke detectors in your home and replace batteries that don’t work. According to the National Fire Protection Agency, 57% of home fire deaths are caused by the absence or malfunction of smoke detectors. If you have a carbon monoxide detector in your home, perform a check on it as well.
Carbon monoxide is known as the “silent killer” because it is a colorless and odorless gas that isn’t detectable through human senses. It can cause confusion, headache, and nausea and, depending on the concentration in the space, can lead to death in just one to three minutes. If you don’t own a carbon monoxide detector, it may be worth purchasing one for the safety of your family.
4. Make Improvements When Possible
If you have the time and funds available, improve outdated areas of your home. Home improvements add value to your home, making it a more comfortable, modern place to live. If your kitchen floor is covered in linoleum, hire a tile removal company in Boca Raton FL, use a professional-grade tile saw to lay new tile down for an updated look. Consider investing in a few heavy-duty concrete tools to create a backyard patio or a walkway leading up to your front porch. Also, think about installing energy-efficient windows that improve the look and function of your home.
If your kitchen floor is covered in linoleum, use a professional-grade tile saw to lay new tile down for an updated look. Consider investing in a few heavy-duty concrete tools to create a backyard patio or a walkway leading up to your front porch. Also, think about installing energy-efficient windows that improve the look and function of your home.
There are many minor home improvements you can take on that won’t break the bank but will increase the market value of your home if you decide to sell in the future. Don’t rush into home improvement projects all at once; instead, space each project out over time and make general improvements as needed or as your living situation allows.
5. Keep Receipts and Important Documents
When performing repairs yourself or hiring contractors, make sure to keep the receipts. As a new homeowner, you may be unfamiliar with the tax deductions and credits available to you, and you can’t claim these expenses without proof that you paid for them.
You might benefit at income tax time if you installed energy-efficient elements or a feature in your home for medical purposes. It is important to keep receipts to receive the tax benefits you’re entitled to. Learn the tax laws for homeowners or hire an accountant so you can reduce your annual tax liability. It is also important to keep receipts and important documents like your mortgage papers or home inspection report for later reference. If an issue related to your mortgage, property taxes, or repairs you’ve made comes up, it’s easier to deal with if your documents are close at hand.
Additionally, you can identify who worked on your home and what services they provided by keeping your receipts. This comes in handy if you have a dispute or want to rehire or recommend them because they did an excellent job.
6. Own Your Home With Confidence
Buying your first home is an exciting experience. However, several things can be intimidating to new homeowners. There are also elements to owning a home that may just not appear on your radar if you’ve never cared for your own property in the past.
The freedom of owning your home also comes with significant responsibility. Homeownership has a steep learning curve as you settle into the house, learn about the neighborhood, and become accustomed to caring for your home throughout the different seasons. Use these tips to save yourself time, money, and effort down the road.
