It’s a great feeling to own a home. and for many of us, it’s our most significant financial investment. Learn more about the care and maintenance of a property to help you become a better homeowner.
Become a Better Homeowner by Making a Financial Plan
Being a better homeowner is not only about making your mortgage payments on time. Create a financial plan for emergencies and unexpected expenses. Determine an amount of money to set aside every month so you’ll be prepared for unexpected repairs and home maintenance.
Don’t Overspend on Personalizing the Property
When you bought your home, you probably handed over a considerable portion of your savings for the down payment, closing costs, and moving expenses. If this is the case, you may be hesitant to spend more money until you’re able to build the savings account back up.
It’s common to feel the need to personalize your new home and make many improvements in the first year. However, this is the time to be careful about your spending. If you choose to tackle upgrades, plan to handle one small project at a time until you’re in a better place financially.
Focus on Important Maintenance
One of the major expenses of homeownership is making repairs to systems and components in the home. Make a distinction between essential repairs and non-essential upgrades or projects before taking action.
When you purchase a home, order a home inspection so you’ll know of any issues that need to be fixed. Use the information in the report to plan repairs in order of importance. Issues that could lead to more severe problems later should be handled as soon as possible.
Hire Qualified Contractors
If major repairs are needed, hire a professional rather than doing the work yourself. You may end up doing more harm than good when trying to save money by DIYing the project. Hire professionals and verify the contractors are insured in case something goes wrong.
Learn to DIY to Become a Better Homeowner
If you enjoy taking on renovation and remodeling projects, learn to make improvements yourself. Visit a home improvement store and look at their how-to guides and DIY selections for home and garden projects. Many larger home improvement stores offer clinics on weekends where you can learn basic skills. Check the community college for continuing education classes to help you learn the skills you need.