Top 7 things you need to know as a new homeowner
Owning a home is a fantastic feeling, but you need all the information possible to keep this feeling. We’re going to look at the top seven things you need to know.
If you are a new homeowner, then it’s important you know everything there is to know about your new home. The reason for this is that you need to be able to keep the home in the best possible condition both physically and financially. In this article, we’re going to be talking about things that you need to know as a new homeowner, so keep reading if you would like to find out more.
Maintenance
First, you need to know how to properly maintain your property. This means things like clearing out the gutters and ensuring there is nothing wrong with the roof is your responsibility. If you have been renting up to now, you might be used to any maintenance being the job of the landlord, but those days are well over now.
You want to do regular maintenance like cleaning the interior of your home. You should also be maintaining your garden, and every other aspect of your home. Of course, you can hire someone to take care of this for you if you want.
Mortgage
You need to understand how your mortgage works and what happens if you don’t pay it. To put it simply, if you don’t pay your mortgage, you are going to lose the house. It can be done, and it will be if you are constantly missing payments. A mortgage is another way to pay for a house rather than buying it outright. Ensure that you check through the terms of your mortgage before you do anything with the home in future.
Refinance
If you are refinancing your home, you are essentially changing mortgages. Your old mortgage gets paid off using the new one, and then you get what is left. Most of the time this is done because someone needs more money and the terms of the new mortgage are better than the old ones. Just keep in mind that refinancing may sound like a good idea, but it’s best if you can avoid it.
Energy
Your energy bills aren’t going to pay themselves and it costs a lot to run a house. When you move into the house, you need to sign up with an energy provider to pay your bills every single month. However, if you don’t want to opt for the standard electricity, then you can always think about adding solar panels to the backyard or roof. This is a great idea if you live somewhere sunny and the sun will be enough to power things.
Value
It’s important that you understand the value of your home, and the ways that you can add/take off value. Usually, this is most important when you are going to be selling the house, but it’s important to understand the value as a new homeowner too. This way, you know whether you overpaid or underpaid for example. As such, it’s something that you need to understand. We recommend that you have a valuation conducted so you can see where you are financially. Don’t forget, you invested in this property when you bought it.
Smoke Alarms Have Expiration Dates
You must check all the smoke alarms when you are a new homeowner moving into a new home. Smoke alarms do have expiration dates despite half of the population not knowing about them. You should ensure that these alarms are checked regularly, and find out the date that they are going to need to be replaced on.
Water Shut-Off
A flood in your home can create thousands of dollars worth of damage, causing a huge nightmare for you. Consider installing an automatic shut-off valve for your water valve, as this will bring you a number of benefits. Not only will it stop your home from flooding which could cause damage beyond what you can imagine, as well as mould and other fun things. But, it will also save you money when it comes to your homeowners insurance (which you need!).
We hope that you have found this article helpful, and now see the top seven things that you need to know as a new homeowner. We wish you the very best of luck, and hope that everything goes smoothly for you from here on out now that you have the correct information.