Tag: New Homeowner

Essential Items You Need for a New House

Whether it’s the need to hang a clock just a few feet higher or the realization that you really can’t hold a flashlight and get that nut loosened under the sink, there’s always something catching you by surprise as a homeowner.

With the right items on hand, however, you can be prepared for every scenario — just like Hunter was, thanks to that ladder.

Here’s things you should buy for a new house:

#1 Tool Kit

You’ll need something to carry all those tools around from project to project. Create a tool carrier using a tool bucket liner and an old 5-gallon bucket. Or invest in a handyman belt filled with the basics to keep on hand in the kitchen.

#2 Wet-Dry Vacuum

You’re gonna be spilling stuff. Look for a wet-dry vacuum that can handle everything from paint to nails and small stones. “We inherited one of those with our first house, and it was an awesome thing to have for vacuuming the car and cleaning the garage,” Hunter says. Unlike the ladder, “we kept that Shop-Vac when we moved.”

#3 (The Right) Fire Extinguisher

“Whenever anyone I know moves, I give them a fire extinguisher as a housewarming gift,” says Nina Patel, a Silver Spring, Md., homeowner who, years ago, accidentally set her apartment on fire with a homemade candle. “I was able to put out the fire with a pan of water, but it was a panicked moment. I’ve had my own fire extinguisher ever since.”

But before going out and buying the first extinguisher you see, check out the U.S. Fire Administration’s guide. There are five different types of fire extinguishers with different uses, from extinguishing cooking oils to wood and paper. Choose the best type or types for your home.

#4 Extension Cord Organizer

Home ownership seems to breed extension cords that grow into a tangled nest. Save yourself time and hassle, and splurge on one of several cord management devices. Or make your own with a pegboard, hooks, and velcro straps to keep each cord loop secure. Either way, your cords will be knot-free and easy to find. And be sure to include a heavy-duty extension cord in your organizer that’s outdoor-worthy. You don’t want to really have to use that fire extinguisher.

#5 Big-Kid Tools

Odds are you already own a bunch of the basics: drill, screwdriver, hammer, level, tape measure, wrench, pliers, staple gun, utility knife, etc. But home ownership may require a few new ones you might not have needed before, including a:

  • Pry bar. Get one with a clawed end to pull nails and a flat end to separate drywall, remove trim or molding, and separate tile.
  • Stud finder. You can make as many holes in the walls as you want now. Use the stud finder to figure out where to hang those heavy shelves so they’re safely anchored.
  • Hand saw. Much easier (and cheaper!) than a power saw, you can get a good cross-cut saw for smooth edges on small DIY projects.
  • Ratchet set. Every bolt in your new house belongs to you, so you’d better be able to loosen and tighten them when needed. Crank that ratchet to get to spots where you can’t turn a wrench all the way around. Great for when you’re stuck in a corner.

#6 Confidence

“Especially for first-time home buyers. You’re inheriting the responsibilities a landlord would have if you were renting,” says Hunter. “Mowing isn’t a big deal, but maybe fixing a shingle or changing a faucet is.” But with a little self-confidence — and some YouTube tutorials — there’s (almost) no DIY project you can’t master.

#7 Headlamp

Take that flashlight out of your mouth and work hands-free. From switching out a faucet to figuring out what’s making that clicking noise behind the washer, there are plenty of homeowner tasks that require both hands and a little artificial light.

#8 Emergency Preparedness Kit

FEMA has a great list of supplies you should have in your kit, including cash, food, water, infant formula and diapers, medications, a flashlight, batteries, first aid kit, matches, sleeping bags, and a change of clothing. The agency recommends you stock enough for every member of your household, including pets, for at least 72 hours.

#9 Ladder(s!)

But not just any old ladder. Consider:

  • How high you need to go. If you use an extension ladder for a sky-high job, school yourself on safety tips, such as not standing above the support point.
  • Where you’ll use it. Make sure all four legs on a stepladder rest safely on a flat area. A straight ladder must be set up at a safe angle, so if a ceiling is too low, it might be too long for the room.
  • How heavy-duty it is. Check the ladder’s duty rating so you know how much weight (you, your tools, paint cans, etc.) it’ll support.

And don’t forget about the all-important escape ladder. The Red Cross recommends them for sleeping areas in multistory homes.

New Homeowner Checklist

The weeks leading up to a home purchase are super stressful. Between the home inspection and finalizing your financing, you also have to start packing up your entire life and maybe arranging for movers — or even selling your old house under a tight timeline. Then there’s the actual closing, when you sign your life away on about 500 different forms.

But after closing, the real fun begins. Now you’ve got this house to deal with. And if your home, like ours, is full of fixer-upper flaws charm… it can be very overwhelming.

Seven years ago this month, we bought our house — our first home. It was exhilarating, but also terrifying. We found that focusing on a few small, manageable-but-productive tasks during our first week of home ownership made us feel way more in control of things during a period that could have easily spiraled into existential despair.

In that vein, here’s a checklist of simple things you can and should take care of when you first move into your new house. (Also, I forgot to say: Congratulations!)

1. Clean (or book a cleaning).

Before you unpack, and ideally before the furniture arrives, clean like mad, or hire a house cleaner to do a one-time deep clean (check for deals on Handy, Groupon, or Angie’s List — you shouldn’t have to pay more than $100-$150). You don’t have to be a clean freak to appreciate that living in your own mess is very different from living in someone else’s.

Vacuum and wash carpets (rent a carpet cleaner if you need one), sweep and mop the floors, bleach the entire bathroom, clean the fridge and the oven and all the sinks, and wipe down all your cabinets, drawers, shelves, and closets.

2. Take a few days off.

The first week or two in your new home will be an adrenaline-fueled flurry of phone calls, fixing stuff, unpacking, and waiting — for deliveries, contractors, and Internet installers. Trying to squeeze all that in around your job will only make it more stressful.

You just bought a house — it’s a big deal, and something you’ll probably only do a few times in a lifetime. Allow yourself to take some vacation or personal days.

3. Do any improvements or repairs you can before moving in.

Whether you do it yourself or hire a pro, it’s infinitely easier to do work on a house when no one is living there. This is especially true for those projects best done without furniture in the way, such as interior painting, plastering, or sanding and refinishing hardwood floors.

And if your home needs some work behind the walls — such as updating knob-and-tube wiring or replacing rusted-out pipes — do it now, before you get settled in, if at all possible. You’ll be glad you did.

4. Change your address and set up utilities.

For starters, alert the post office that you’ve changed your address, so they can forward mail to your new home. However, that service only lasts for a few months, so you should also start changing your address on all of your important accounts, such as your workplace benefits, bank accounts, credit cards, car and health insurance, magazine subscriptions, and memberships.

Likewise, call up the gas and electric companies and tell them you’ve moved. In most cases they’ll just transfer your account to your new address. You can often do the same with your cable or Internet provider, too, if you’re moving within the same service area. Otherwise, investigate your local options and call to set up service while you’re home getting settled.

5. Change the locks.

Even if you like and trust the previous owner, there’s no way of knowing how many copies of your house key are floating around – or who has them. (That reminds me: Our electrician still has a key to our basement. Um, I should probably get that back.) A new door hardware set will only run you about $50, and it’s well worth the peace of mind.

While you’re at the hardware store, get a few extra copies of your new key made, and give one to a trusted friend, neighbor, or relative for emergencies.

6. Plan now for emergencies.

The time to be researching plumbers in your area is not when the toilet is broken and spewing funky sewage onto the bathroom floor. (Gross — see “Find your shut-off valves” above!)

Ask your new neighbors for the names of any tradespeople they’d recommend, including plumbers, electricians, and handymen, or get an Angie’s List membership and start researching highly rated contractors in your area. (You can also sign up and introduce yourself on NextDoor, a neighborhood social media site, and ask for recommendations.)

Also, look up the numbers for poison control and local emergency services (if it’s not just 911) and put them on the fridge. Check all your smoke detectors and replace the batteries if you need to — you can also ask the fire department to come by and inspect them. Finally, find all of your emergency exits, and make a family fire plan that also designates a meeting point outside.

7. Use your home inspection report to plan future upgrades.

Your home inspector should give you a comprehensive report indicating the condition of all the major systems and structural parts of your home. Ours probably had like 50 items that “needed attention,” and this originally formed the basis of our long-term home improvement game plan.

From there, we made some lists: The stuff that was fairly easy to accomplish — or simply critical — went on the short-term, right-away list. Make sure there are some gimmes on there to help you build momentum! The stuff that can wait may have to wait.

8. Get a small safe or filing cabinet.

Even if you’ve never had one before, you’re probably going to need a filing cabinet or small safe now. File your closing statement and all the paperwork from your home purchase — that’s important stuff, and you’ll need it come tax time at the very least.

And that’s just the beginning of a lot of paperwork you’ll be filing from here on out. Keep receipts and instruction manuals for any new appliances you buy, your insurance and property tax bills, and any estimates or receipts from contractors as you make improvements.

9. Find out where your shut-off valves are.

One of your first lines of defense when it comes to common homeowner emergencies — burst water pipes, for instance — are shut-off valves. Turning off the water (or gas, or electricity) is like being able to slam on the brakes when you’re driving.

First, there are shut-off valves for small, localized problems: If the toilet is overflowing, look for the valve coming out of the floor or the wall behind the toilet and turn that to the right to stop the water flow. If your sink or faucet is leaking uncontrollably, the shut-offs will usually be under the sink (one for cold and one for hot).

Likewise, there should be a gas shut-off valve near your stove or dryer if either one uses natural gas. Find and familiarize yourself with all of these local shut-offs.

Then — and most importantly — find your main shut-offs, which control the gas and water coming into your house from the street. They’re usually found in the basement, toward the front of your house, but not always. Learn where these are ahead of time so you’re not clumsily searching for them in a panic as a geyser of a busted pipe is gushing water all over your kitchen.

Your circuit breaker acts as a shut-off for your home’s electricity. Individual circuits will control the electric flow to certain rooms or appliances — one breaker switch might shut off all the overhead lights, while another might control the refrigerator and the microwave outlets. Get familiar with the circuit breaker, and note where the main shut-off switch is to turn off all power in an emergency (if water is leaking into a live light fixture, for instance).

10. Create a seasonal home maintenance checklist, and start using it.

There are some maintenance tasks you’ll have to do to your home annually or semi-annually to keep it in good shape. And depending on the season you move in, it’s probably time to get started on some of them.

It’s really more of a two-season checklist than a four-season one; nobody wants to do stuff like this in the scorching summer heat or from underneath a foot of snow, so I tend to break down the tasks into spring and fall:

Spring/early summer home maintenance checklist

  • Install window A/C units (or check central air units): Trust me, the time to lug these things down from the attic and wrestle them into place is before the first scorching hot day, not right in the middle of it. Clean the filters before firing them up for the season.
  • Test your smoke detectors: Fire safety folks recommend doing this whenever the clocks spring ahead or fall back. Change any dead batteries.
  • Clean your gutters: Leaves and other debris from fall and winter may have choked up the works, and you want them free and clear before April’s heavy rains. If you have a one-story house, this is easy to do yourself; if your home is two or more stories or you’re afraid of heights, it should only cost about $60-$100 to have a pro come and do it.
  • Fertilize or plant new grass: The time to plant and fertilize grass is early spring: With the nights still cold, grass grows but weeds don’t. If you get a nice thick lawn growing by May, it can naturally crowd out the more unsavory stuff like crabgrass and dandelions. (If you don’t mind some chemicals, you can use crabgrass preventer or weed-blocking fertilizer — but usually not with new grass seed.)
  • Clean out your dryer vent: Your lint screen may be full of fuzzies each cycle, but a lot of it is still getting into that space-age silver tube. Clean it out with a vacuum or a long, bendy brush once a year to improve your dryer’s efficiency (and so it doesn’t catch fire).
  • Clean ceiling fans: They can get pretty dusty up there sitting idle all winter long.
  • Stain or paint the deck: Every other year or so, you’ll need to add another coat of stain to your deck’s floorboards (the railings and spindles can usually go five years or more). On a dry spring day, give it a good cleaning, and then strap a roller brush to a broom handle and slap another coat on there to protect the wood.

Fall/early winter home maintenance checklist:

  • Store hoses and turn off the water to outside spigots: You don’t want water freezing in your garden hose or faucet and breaking the pipes. In the basement, just follow the pipe from the faucet to the nearest shut-off valve, and turn it clockwise or so it’s perpendicular to the pipe.
  • Chimney sweep: You should get your main boiler or furnace chimney swept every couple of years — buildup in there can cause a chimney fire. And if you have a wood-burning fireplace or wood stove, get that cleaned out every couple of years or every time you go through a cord of wood, whichever comes first.
  • Boiler/furnace clean-out: Before heating season begins, you should get an inspection and the recommended annual maintenance on your boiler or furnace. If you get oil delivery, your oil company should take care of this for you. With gas, you’ll need to call your own plumber or heating technician. Since we have a pretty new gas steam boiler, our plumber told us we could do it ourselves: Just flush out all the water that’s in there (draining into a bucket and dumping it outside or down a drain), and then fill it back up. Repeat that a couple of times and you’re good to go.
  • Batten down the hatches: Move patio furniture into the garage (or at least take the cushions inside), cover up the grill, and remove and store your window A/C units (or cover up your central air unit). Move snow shovels, deicer, and other snow gear to an accessible spot in the garage or shed.
  • Tune up your snowblower: Snowblowers take a beating each winter — the metal parts get soaked, they get road salt inside them… it’s easy for them to get rusty and crap out on you. But you want yours ready to perform well when that first foot of snow falls. This year I plan on taking mine for a tune-up in the fall so it’s all set to go — you can often find a deal on Angie’s List, and you shouldn’t have to pay more than $100 for this type of service.

11. Throw a housewarming party.

Your first few weeks in a new house are going to be filled with the adrenaline and excitement that comes with such a big life change. Now, trust me on this: You need to tap that energy and get everything done that you can before the adrenaline wears off.

Don’t lose steam. For most people, whatever isn’t unpacked after about two months just stays in boxes and gets shoved in a closet. If you haven’t put pictures up on the wall after a couple of months, you’re going to be looking at empty walls for a long time.

Once you stop going all-out in move-in mode, it becomes really, really hard to get going again. After all, it’s exhausting, and you deserve the rest!

That’s why throwing a housewarming party is a great idea after you move in. It gives you a defined deadline to get the place in order, and puts just the right amount of motivational pressure on you to keep at it.

It’ll force you to confront those stray boxes and make tough decisions about what to do with them. It’ll push you to get the walls painted and decorated and to assemble that IKEA desk that’s been sitting in a box for two weeks. If you don’t do it now, there’s honestly a good chance you’ll be using that box as your desk six months from now.

It will allow you to share your excitement and hard work with the people you care about – not to mention, you might get a nice gift or two. (Tools make great house-warming gifts.)

And finally, accept that once the party arrives, you’re allowed to relax. You’re done. This is your home now, and this is what home looks like. You’ll make many more improvements to it, but for now, enjoy it.

12. Go to IKEA.

Let’s face it: Unless you’re downsizing, you might need some new home furnishings to fill out your new place. And for most of us 99 percenters, that means an IKEA run.

Maybe you’re moving from a small galley kitchenette to a large eat-in kitchen, or your old couch was too big or too ratty to move. Whatever the case, if you need to fill some empty rooms, the Swedish home goods superstore is a good starting point.

What do I mean by a starting point? You’ll have made a LOT of big decisions in the past few months, and you may not be ready to commit to an $1,800 living room set the same week you move in. You may do better living in the house for awhile before you make those kinds of design choices.

Meanwhile, IKEA furniture is cheap, functional, and attractively designed, so you usually can’t go wrong getting basic items here. What’s more, IKEA items hold their value surprisingly well — at least in a college town like Boston — so you can start with stuff that’s fairly cheap and functional and upgrade at your own pace.

Pick up a basic Ecktorp sofa to buy yourself some time — a steal at $450 — and then, when you do find that perfect living room set, sell the sofa for $300. (Or head straight to Craigslist or other places you can find used furniture and home goods.)

Finally, do not go to IKEA on a weekend if at all possible! Browse the catalog first to research the stuff you want to see in person, and then make a targeted trip around 7pm-8pm on a weeknight. You can zip through in under an hour without the mobs of people in your way, saving you time and certain rage.

And make sure to go with an empty trunk! When we went to buy our sofa, we brought the kiddo. Despite the flat-pack design, the sofa wouldn’t fit with her car seat in the back, even with half the back seat folded down (I don’t know why I thought that would work).

So I had to leave my wife and kid at IKEA and race home with the sofa. The worst part was that they were still inside the store and had no idea I was doing this — there’s no cell service in there. So I sped home, dumped the sofa in the driveway, and raced back, anxiously hoping that I got there before a) they went looking for the car or b) a toddler meltdown ensued.

The good news is, it’s IKEA, and it takes anyone a couple of hours to get through the store, much less someone with a dawdling toddler. They didn’t even know I was gone. Whew.

How to Budget

Budgeting for new homeowners starts with understanding the true costs of owning a home.

Ready to buy your first home? While open houses, mortgage paperwork and the planning of your housewarming party may have you busy, creating your budget as a new homeowner and uncovering the hidden costs of owning a home should be top of mind as you take this big financial step.

“It’s extremely important to determine how homeownership will affect your monthly budget before you purchase a home and not afterwards,” says Emily Graham Stroud, president and owner of Stroud Financial Management, Inc. in Fort Worth, Texas. “One of the biggest mistakes people make financially is house hunting and falling in love with a home before they’ve analyzed their monthly budget.”

“How do I adjust my budget after buying a home?” is a question to tackle as soon as possible during the buying process. Learning the rules of budgeting for new homeowners can help you avoid money headaches once the ink is dry on your mortgage.

Plan regular budget reviews

Once you add up the hidden costs of owning a home and the not-so-hidden ones, budgeting for new homeowners means regularly reviewing and adjusting your spending and savings plan.

“It’s important to review your home’s budget and expenses at least four times a year, perhaps even monthly if you bought an older home,” Bodrozic says.

Checking in with your budget regularly can help you track things to budget for after buying a home, like maintenance and repairs and seasonal changes that may affect your utility bills. It’s also a good way to stay on top of all of your expenses, not just homeownership costs, and monitor your savings progress, which can help you avoid overspending and taking on debt.

Break down the costs of owning a home

When adding up homeownership expenses, your mortgage payment is just the tip of the iceberg. There are other things to budget for after buying a home beyond what you pay to your lender each month.

John Bodrozic, co-founder of HomeZada, a digital home management app, says budgeting expenses for a first home usually fall into four categories:

  • Mortgage, insurance and property taxes
  • Utilities, including electric, water, pest control, garbage collection, internet and phone services
  • Maintenance and repair costs
  • Remodeling expenses

In addition to the principal and interest on your home loan, your mortgage payment may also include escrow for your annual property taxes, homeowner’s insurance and homeowner’s association dues (if you live in a condominium or neighborhood with an HOA). If not, you’ll need to separately include these hidden costs of owning a home in your budget.

“If you don’t escrow for property taxes and homeowner’s insurance, then you need to create your own escrow savings account that’s earmarked specifically for these expenses,” Stroud says.

For example, if your annual homeowner’s insurance premium totals $2,400, you could budget $200 per month toward this cost and stash that money in a high-yield online savings account. You’ll need to do the same for your property taxes. When it’s time to pay for these hidden costs of owning a home, you’ll have the cash on hand to cover all of it.

Determine your new disposable income

The hidden costs of owning a home could affect how much money you have left over each month after your bills are paid. While your monthly mortgage payment could be less than your previous rent, your property taxes, homeowner’s insurance and other home-related expenses may mean you’ll pay more on housing each month.

Stroud says if owning a home means having less disposable income each month, then you need to be clear about distinguishing between your wants and needs to better adjust your spending plan.

On the other hand, budgeting for new homeowners could mean monthly housing costs that are less than or equal to what you previously paid in rent. If you have more wiggle room in your budget, you could funnel any “extra” cash into your emergency fund or home maintenance savings.

Once those are fully funded, you could find room in your budget to pay down credit card or student loan debt, or increase the amount you’re saving for retirement each month. As you’re working toward your financial goals, be mindful of purchases you may be tempted make as a new homeowner—especially if lower housing costs mean you have more discretionary spending to play with in your budget.

“Many first-time homeowners find that their first home causes lifestyle changes,” Bodrozic says. That could mean buying new furniture, upgrading your TV, purchasing an expensive lawn mower or rushing into costly renovation projects.

Include a line item in your budget for home savings

You likely already know that an emergency fund can help you cover unexpected expenses, like a flat tire or an unplanned visit to the doctor. When buying a home, budgeting for new homeowners should also include setting up a separate savings account for unplanned home maintenance and repairs.

“A good rule of thumb is to save between 1 and 4 percent of the purchase price of your home for annual preventative maintenance and repair costs,” Bodrozic says.

When considering things to budget for after buying a home, Bodrozic says if you’re dealing with a newer home, you may be able to aim for a one percent savings goal, as things like the roof, appliances, and heating and air system should still be in good shape. “If your home is 20 to 25 years or older, a budget of 4 percent is more appropriate because many of the home’s equipment and assets are near the end of their useful life.”

When determining which things to budget for after buying a home, remember that repair costs may increase over time as the property ages, and you’ll need to adjust your budget accordingly. Bodrozic says keeping up with regular maintenance can help preserve your home’s equipment and structural elements, potentially allowing you to delay spending on major repairs.

Think ahead

One final thing to consider is how much you will be chipping away at your mortgage over time. Though it’s not one of the things to budget for after buying a home, Bodrozic recommends being aware of how much equity you’re building up in the home over time because it may influence your future housing expenses.

For example, if you took out a conventional loan with less than 20 percent down and are paying private mortgage insurance (PMI), you can request that it be removed once you reach 20 percent equity in the home. That in turn can reduce your monthly mortgage payment. If you think you might consider a cash out refinance at some point to make upgrades or renovations, you’ll need to have equity available that you can draw on later.

How to Easily Save Money as a New Homeowner

Just bought a home? Here are 4 money saving every new homeowner should know: from spring maintenance items to DIY home improvements.

Keep an eye on that spending! Whether you’re a homeowner for the first time or you’ve just moved into a larger home, there is a strong tendency to overspend at the outset. Here are some tips to help you avoid this common pitfall of new homeownership.

1. Get down and dirty with DIY

Speaking of decorating, here’s some golden advice for new homeowners: The possibilities are endless — and much less costly — if you’re willing to do a little bit of the hard work yourself. DIY home improvement projects such as painting and switching out hardware can make a huge difference in the look and feel of your new home without sending you spiraling into debt.

Note: Don’t spend time and money on projects that you aren’t qualified to do. Doing a project incorrectly can end up costing you quite a bit more time and money to fix. Play it safe. Stick to fairly simple projects until you get a better grasp of your home improvement skillset.

2. Get the boring stuff out of the way first

You’ve just shelled out for a down payment, closing costs and moving expenses. Your savings account is pretty drained, right? So what would be the worst thing that could happen right now to your home? A costly and unexpected issue — especially one that could have been avoided with some simple maintenance. Unfortunately, it’s not up to a landlord to handle these issues now.

Sure, your home inspector took a thorough look at the house before you purchased it, but that doesn’t mean that you shouldn’t make your own rounds. Before you even consider picking out that new sectional or king-size bed, perform some new homeowner maintenance, including getting a head start on simple spring maintenance items. Then, make sure your budget stays protected by taking advantage of a home warranty — the rest-easy solution to those inevitable system and appliance breakdowns.

Bonus Tip: Was your new home vacant for a while before you moved in? Were some appliances missing, causing you to have to install new ones? Since you’re officially living there now, take a minute to ensure everything is hooked up and functioning correctly throughout the house. Any strange noises or smells? Water leaks? Have them checked out by a professional right away!

3. Get comfortable

Ask yourself: What absolutely must be done now, and what can wait? As exciting as this new lifestyle is, it will take some getting used to. Think about all the new expenses you have now, versus before. And the fact that you didn’t just want to get into the new house — you plan on staying there for a while. The best way to ensure that is to be smart with your money and take your time making this new place your home. Upgrading your master bathroom can wait until you’ve saved up for it. And adding on that deck doesn’t have to be something you do this year. Simply ensure you’re comfortable in your new home. The extra projects will happen. The new items will come. And they’ll be that much more exciting when you can easily afford them.

4. Get thrifty with your décor

Now that you’ve gotten the boring stuff out of the way, it’s time to get excited about adding your personal touch to the home. But how can you do that when your funds are running low? Open your mind to the idea that not everything has to be brand new — just new to you. Have your in-laws been talking about switching out their dining room chandelier? Tell them you’ll take it off their hands! Have your friends been talking about getting together for a group garage sale when the weather gets warmer? See if you can get a sneak peek of the items that they’re wanting to part with. And don’t hesitate to take advantage of all those resale groups online. You can find some incredible items in excellent condition at a fraction of the retail cost. No one will ever know the difference!

Tips Every New Homeowner Should Know

Congratulations! You’ve just purchased your first home. Buying a home is a smart investment and offers a lot of benefits for you and your family. But owning a home also comes with a few disadvantages, like not being able to call your landlord when something goes awry.

But don’t worry. We have some homeowner tips and tricks that will help you prepare for those surprises and maybe even save you a few dollars down the road.

Use these new homeowner tips to make your transition to property owner a little smoother.

1. Change Your Air Filter Regularly

This probably sounds obvious, but it is an often overlooked homeowner maintenance tip. When you move into your home, change your air filter right away. Mark the date on your calendar and change it every 90 days moving forward. Consider changing it every 60 days if you have pets or if you suffer from allergies.

Changing your air filter not only helps keep your air clean, but it also reduces dust in your home and extends the life of your furnace.

2. Know How to Turn Off Your Water Valve

Picture this: You wake up in the middle of the night to find a busted pipe filling your basement with water. It takes you five minutes to locate your main water valve and two more minutes to turn it off. That’s seven additional minutes of water flowing into your basement.

It’s a good idea to locate this valve when you move in and learn how it works to save yourself time during an emergency. Learn how to shut off your power and gas lines while you’re at it.

Another homeowner tip is to turn off your main water valve whenever you leave on vacation. This will prevent flooding if something should go wrong when you are out of town.

3. Create a Homeowner’s Binder

You may have noticed during the purchasing process that there is a lot of paperwork involved in owning a home. Before you move into your new home, create a binder for important documents, such as mortgage and home insurance paperwork.

After your move in, use the same binder to store all of the guides and warranties for your new appliances. Store receipts for any home improvement and moving expenses here as well. You’ll want to hang on to these for your taxes. You can also start collecting contact information for reliable contractors in this binder.

4. Wait to Start Any Large Projects

One thing every homeowner should know: home improvement projects are expensive. Avoid completing unnecessary projects. Unless your new home is not livable, hold off on any major construction projects until you’ve lived in the home for at least six months.

Waiting a few months to make any huge changes will allow you to get a feel for your home and put your priorities in order. After a few months, you may learn that the floor plan doesn’t bother you as much as expected, but you’ve discovered you can’t live with the current bathroom configuration. Waiting will also give you time to save for the cost of any upcoming projects.

It is a good idea to complete small projects such as painting or removing carpet before moving into your new home.

5. Start an Emergency House Fund

You never know when something is going to go wrong, or how much it is going to cost. A great homeowner tip is to start an emergency savings account as soon as possible.

The longer you live in your home, the more likely you are to experience a surprise plumbing, heating or roofing issue. Start saving early to take a little stress out of this typical homeowner experience.

6. Pay Attention to Your Energy Usage

Owning a home means paying your own utility bills. Pay attention to how your home is using energy and use the information to reduce your carbon footprint and save money. You’ll be surprised how small changes can affect your electric bill.

Homeowner tips and tricks for reducing your energy costs:

  • Move your refrigerator away from your oven.
  • Schedule a home energy audit.
  • Lower your water heater’s thermostat to 120 degrees.
  • Switch out lightbulbs for energy-efficient LED lightbulbs.

7. Learn How to Identify Potential Issues in Your New Home

One of the best homeowner maintenance tips is to detect minor problems before they become huge issues. After purchasing your home, take some time to learn about some of the common issues homes face, especially if you’ve purchased an older home or one that was unoccupied for a period of time. Being able to identify a potential problem early on could save you money later.

Learn to recognize:

  • Basement leaks and flooding.
  • Signs of a roof leak.
  • Foundation issues.

If you can catch these issues early, you can prevent further damage to your home and save yourself a lot of headaches.

8. Make Friends With Your Neighbors

As many homeowners know, having bad neighbors can make your living situation less than pleasant. Work to be a good neighbor right away by introducing yourself and making friends as soon as you move in. Building a relationship with your neighbors will help you learn about your neighborhood, find reliable contractors and maybe even allow you to borrow tools when you need them.

Knowing your neighbors will also make it easier to address any issues that arise later, such as property line or noise concerns.

9. Invest in New Tools

Now that you’re a homeowner, it’s time to get yourself a toolbox. From measuring for a new couch to hanging curtains and photographs, you’re going to need tools even if you’re not planning any big DIY projects.

Best tools for new homeowners:

  • Ladder
  • Electric drill
  • Measuring tape
  • Hammer
  • Stud finder

Owning these tools will make following the rest of these new homeowner maintenance tips easier.

10. Complete One Project at a Time

Don’t work on multiple home projects at once. You may want to get all your improvements finished as soon as possible, but this isn’t the answer. Not only will you exhaust your finances, but you will also make your new home unlivable and add unnecessary stress to your everyday life.

Instead of starting all your projects at once, learn how to plan a home remodel that won’t make you miserable.