One of the most exciting steps in our lives is transitioning from being a renter to a first-time homebuyer! Getting wept in all the excitement is a great feeling, but some first-time homeowners can easily lose their way and make mistakes that could jeopardize the home they worked so hard to earn. This blog will go over 4 smart steps every homeowner should take so that they can be a successful homeowner!
1. Don’t Overspend to Personalize
So you’ve just handed over a large amount of your life savings for a down payment, closing costs, and many other moving expenses. Your money is tight, and not only are your savings depleted, but your monthly expenses are also higher than usual. While you get adapted to the new changes in your life, it’s vital that you keep unnecessary costs away. Of course, everyone wants to personalize their new home and make it look like those you see on HDTV, but remember to take things slow. Don’t go on a massive spending spree to improve everything at once. Just as essential replacing your old kitchen cabinets may seem to be, they simply aren’t worth jeopardizing your new status as a homeowner.
Give yourself time to adjust to your new expenses and rebuild your savings. The new kitchen cabinets will be waiting for you when you’re economically comfortable for them.
2. Don’t Ignore Important Maintenance
One of the many new expenses that accompany homeownership is making repairs! There’s no landlord to call if your toilet is clogged or your roof is leaking. You’ll have to take care of the repairs and maintenance yourself. To look at the bright side, there’s also no rent increase notice taped to your door any longer!
While you should practice restraint on non-essentials such as kitchen remodels and a new paint job, you shouldn’t neglect a problem that can worsen over time or put you and your family in danger. Delaying any repairs can turn a relatively small problem into a large and costly one!
3. Hire Qualified Contractors
One of the greatest mistakes homeowners make is trying to save a penny by making repairs they aren’t qualified to make. Your home is your largest investment, and it deserves the same level of attention and care as anything else you highly value. For example, if there’s no wiring in your garage for an eclectic opener, don’t go cutting holes in your walls and playing with copper wiring! Hire a professional to do the work you don’t know how to do. Besides doing the job right, it’ll prevent you from potential injuries—or even death!
4. Join The Art of Homeownership Program
Yeah, we get it. After reading all of these steps for being a smart homeowner, it may seem overwhelming and stressful to become one. Fortunately, there’s a program that removes that burden from your shoulders completely! And that’s with The Art of Homeownership Program! This homeownership program offers many services that will remind you of important maintenance your home needs and offer recommended qualified contractors for the job. It helps protect and grow the value of your home! Services this program offers include the following:
- Home Concierge Service – You’ll get a concierge that will proactively keep your home in great shape and help you increase its value over time.
- Monthly Real Estate Digests – You’ll be given monthly real estate digests that will give you an idea of the current value of your home
- Annual Financial Review – You’ll get financial reviews that will help you ensure that you are making the best decisions for your family by planning for the future and getting continual advice and guidance on how to navigate your real estate and finances.
- Perfect Mortgage Promise – You’ll get help managing your mortgage so that you don’t miss any payments.
- And more!
Knowing you’re not alone in your homeownership journey can significantly help reduce the burden and level of responsibility you have when becoming a homeowner. With the help of The Art of Homeownership program, being a smart homeowner is as simple as 1, 2, 3! We hope this blog helps you see what the 4 smart steps every homeowner should take are and how they make a difference! To learn more about how to become a smart homeowner, give Community Mortgage a call at (619) 692-3630 or click here.