Four Things New Homeowners Should Do
There’s nothing quite like buying a new home in Arizona. No more having to deal with property management teams that take forever to get back to you. You can actually have that dog you’ve always wanted. You can finally flex your home renovation muscles and pursue your dream project. Finally… a home of your own! Owning a home can be nothing short of life changing, but it is easy to miss a few crucial items that can make or break you in the long run. Here is a list of four critical things new homeowners should start with to save later on. 1. Manage your money. Funds may be pretty tight after you purchase your new home. At the same time, it will be tempting to want to start buying things to deck out your new home right away — new furniture for the living room, a new big screen television for the den, or maybe that cherry-wood dresser that would be great for your bedroom. As nice as it would be, you should resist the urge to splurge right now. Focus on spending frugally and saving money however you can. You may not get your new plush sofa right away, but when you need to pay for some needed repairs later and you have plenty of money saved for it, you’ll thank yourself. 2. Keep maintenance and repairs in mind. As simple as it sounds, maintenance of your new home can be an easy thing to miss when it comes to preparation and savings. Now that you don’t have a landlord or management team looking over your shoulder, you also don’t have anyone to fix problems for you. Keeping up your home’s repairs and maintenance will be completely on you. Do not procrastinate when it comes to fixing potentially costly or dangerous issues, as they may worsen exponentially by the time you get around to them. 3. Keep receipts and records. Your home isn’t just a place for you to live. It is also an investment! That old, worn carpet that you got replaced? The brand new roof you installed? Those improvements can count towards your home’s resale value. Keep records of all improvements and repairs from the beginning so that, when the time comes, all of your hard work will pay off! 4. Make sure your insurance is good to go. Now is a good time to really evaluate your homeowner’s insurance policy. Check for items like flood protection, which can be a big issue in some parts of Arizona. Be sure that your car insurance policy is up to date also, as your home can be at stake in the case of a lawsuit. If need be, get advice from a professional to make sure you know just how much coverage you need. Becoming a new homeowner is a big step in your life, and it comes with many responsibilities. Don’t be intimidated, though. By handling those responsibilities with care, attention, and diligence, you will find home ownership to be a very rewarding experience.