The first year of owning a home can be the hardest. Here is some advice that will make home ownership the rewarding, enjoyable experience that it should be.
There Will Always Be Home Improvements: Home owners will always find new projects to work on. Plan your projects ahead of time and prioritize what projects you want to do first. Planning minimizes stress. Remember to not bite off more than you can chew. If you plan to live in your home for many years, then there will be plenty of time for home improvements, so focus on what is important first.
No Landlord Is a Blessing and a Curse: No landlord means that you are your own boss. You can paint a room or adopt a pet without needing approval. However, not having a landlord also means that you can’t call someone when something needs to be repaired. You’re in charge of maintaining your home, which can be a blessing but also a burden.
There Are Other Costs: If you never owned a home before, there may be some costs that you are unaware of like garbage pickup, property taxes, utility bills, etc. Mortgage payments are only the surface of home ownership. Be sure to research all the costs during your home building phase.
Budgets Are Helpful: Unexpected home expenses and repairs will cost you money, so if you can save and budget accordingly, you will feel more prepared. Setting up a repairs or “fix-it” account separate from other emergency accounts is a simple way to save money over an extended period of time.
Be Your Own Handyman: The Internet has many resources that can help you fix any minor project in your home. It will also save you money and time if you do it yourself. However, if you do not know what you are doing, do not risk making the problem bigger. Ask a friendly neighbor to assist you or hire a professional if you can afford it.