When it comes to buying a home, everyone knows that they need to get a mortgage. But the truth is that buying a home is more complicated than just getting approved for a loan. In fact, the loan with the lowest interest rate is not always the best bet.
While the finances of home buying would be enough for an entire article, I wanted to use this space to go over some of the non-financial things that every first-time home owner needs to know.
Just because your new home has floor to ceiling windows does not mean that it is a good thing. For starters, those massive windows mean that you will need curtains to block out the light on those mornings when you are trying to recover from a night on the town.
Don’t forget things like fireplaces, as multiple hearths mean that you will need to keep the flues clear, make sure no animals get inside and importantly pay for the firewood to keep the home fires burning bright.
Then there are the things like the kitchen or the back deck. Just because you are not 100% in love with the way it is today does not mean you need to make the change right away. Remember customizing costs and the odds are that since this is your first home you can barely afford the mortgage.
As such, look for little changes you can make that will have a big impact – not only to how you will enjoy your home but how much the home is worth as well.
King (or Queen) in Their Castle
It’s your first home and you are undoubtedly excited about the prospect of finally being a king (or a queen) in your castle. However, one thing you need to remember is not to be too bossy, especially when you are bringing someone in to do some work around the house.
Granted, it’s your money and it’s your home. But you don’t want to get a reputation as being a difficult homeowner or the best contractors in town will refuse to work with you. Instead, you want to use the experience of the contractors you hire to help educate you to be a better homeowner. In this way, your reign will be long and prosperous.
Given this is your first home, it is highly likely that you will only be moving across town and while it might be tempting to get some pizza and beer as a way to entice your friends to help out, you might want to consider using local movers to help – especially when it comes to your larger, more expensive items.
Sure, this might cost a bit more, but do you really want to risk your heirloom pieces to your buddy from high school? Get settled in style by bringing in the pros to help.
Do It Yourself
Ah, the joys of homeownership – if you don’t have a tool kit, then you should run out and get one. One of the best ways to save money is to become proficient in fixing things around the house. This way you won’t need to call the repairman when everything around the house breaks.
Let’s face it nothing stays new forever and the more you can do around the house, the more the house will become yours. It also means that you won’t need to wait for someone else to take care of it – especially for the small fixes which can be taken care of right away.
A Rite of Passage
Ye who owns a grown-up sofa is a grownup, or so the saying goes. But I think you can get the premise. Homeownership is a significant rite of passage. It tells that world that not only have you moved out of your parent’s home but also you are responsible enough to take on a massive mortgage AND to pay it back.
As such, you want to act like an adult. Remember to pay your mortgage on time and take care of your home. Doing so will not only help your credit score but it will also mean that you will be happy to come home to the home you own every day.
Article Submitted By Community Writer