You’ve recently purchased a home and you are over the moon with your investment! For some, home ownership is a big milestone in their life, and you feel a sense of accomplishment.
Now that you have a place, do you know how to take care of it? Do you know what it means to be a homeowner, as opposed to a home renter? You can’t pick up the phone and call your landlord anymore if your basement flooded. Do you know how to improve the value of your place?
Here are eight things that every new and old homeowner should know.
Having an emergency home fund will safeguard you from having to take out loans with high interest rates. You never know what could go wrong and when, so you should have a chunk of money in your bank account that is reserved for fixing these types of problems.
Whether your hardwood floors are squeaking, your shower broke down, your toilet is clogged or your sink is dripping, you need to repair these problematic areas as soon as they happen.
An area of your home that is broken will only become worse with time, and you should utilise the aforementioned emergency fund to improve the look and feel of your home.
Why not invest in home improvements that add value to your property? This will make your home life more comfortable, and you have an opportunity to sell your home for a larger chunk of money.
Why not add another bathroom, renovate your kitchen or upgrade your garden?
There is no doubt a long list of changes you want to make to your home, but it’s best to focus on one at a time, so that this project doesn’t become the source of stress in your life.
Good interior design will improve the aesthetics of your home, but you shouldn’t overspend on design to the point where you go into debt because of it.
Learn how to decorate for less money and spend more time looking for unique pieces thatyou can find at second hand and vintage shops.
In fact, why not consider adopting a more minimalistic approach to your décor style? When you have fewer items, your space will look much bigger. As a bonus, you have less to clean, as well.
A smart-home system is the perfect way to make your home more technologically savvy, and add an extra layer of security.
When you leave the house for work, school or long-term vacation, you want to feel as if your belongings are safe and secure.
No matter your distance, smart home technology can link to your mobile phone and you will always be alerted if an intruder steps foot into your home.
6. Get home insurance
There is never any harm in investing in home insurance, as an extra precautionary measure if something does get stolen one day. This will save you the headache of having to spend hundreds if not thousands of dollars.
When you are a homeowner and over the age of 55, you can opt for equity release, allowing you to get money based off your home value.
This loan can help financially stabilise people in their retirement years. When you have the option for unlocking your home value, why wouldn’t you take it? You can use an online tool to find the cost of equity release that applies to you.
Every homeowner should keep their home clean and organised in order to improve the aesthetics and atmosphere of their place. Invest in cleaning supplies, and always keep them on hand should you need them.
A tidy home has been proven to improve your mood! If you think about it, would you feel comfortable in a space that was filled with dust, and one where you couldn’t find anything you were looking for? Most people would answer no.
Becoming a homeowner will be a joyous time in your life, but it can just as easily be stressful if you don’t know what to do and how to act. You have become solely responsible for your property, and you committed to this as soon as you signed all of the legal documents.
It’s important that you remain calm, and that you abide by the various tips that have been outlined in this article.