Top Mistakes New Homeowners Make

When you first become a homeowner for the first time there can be a learning curve. It is a new routine to get used to, there may be projects that you want to start and you need to learn how to make joint decisions should you be co-purchasing with a significant other. Here are some of the top mistakes new owners make so you can learn what not to do. 

Hiring the wrong repairman

This may sound silly at first but if you don’t hire the person you need the first time it can cost you more in the end. One of the best places to start with repairs is to speak with friends or neighbors in the area. Explain what is going on as they may have had a similar issue. They may even help provide you with a contact they used. Most contractors have a high hourly rate so you don’t want to hire someone who cannot ultimately fix your problem.

Failing to get references

Before you hastily google someone to help fix your problem, make sure you get some references. Just because they are online doesn’t mean they are reputable! Reach out to friends, neighbors or even ask for recommendations on social media. Find out what experiences were like exactly with people you know who used them.

Not creating budget

With a new home comes new expenses. There may be things you may not have considered like HOA fees, regular maintenance fees and even property taxes. Asking for receipts or utility bills from the previous owner along with speaking with a real estate professional such as myself are great resources for this kind of important information.

Home improvements too soon instead of routine maintenance

It can be very tempting to want to make some costly changes to the home as you are very excited in the beginning. However, you want to make sure that you have a good grasp on your routine expenses of simply owning the home and properly maintaining it. Once this is done and once you have lived in it long enough then you can see if you still want to do these improvements you first had in mind. Sometimes once you live in a home for a while your list of desires for improvements can change.

Not discussing projects with significant other

Introducing homeownership into a relationship is a whole set of new things to deal with. Now there are shared expenses, shared thoughts of improvements and shared ideas of how to set up the home. It is important to keep communication open before you embark on making any decisions. Be sure you are on the same page or can make the necessary compromises where every move works for everyone involved.