3 Common Sense Tips For First-Time Homeowners
Buying your first home is a very exciting - albeit a little overwhelming - experience. There are so many details that need attention and so many important decisions to be made. Your real estate agent in Eldon, MO will be able to help guide you through the home search and purchase process, but what happens after you have signed your name on the dotted line and moved into your new house near the Lake of the Ozarks?
Owning your own home is unbelievably rewarding, but it certainly comes with its fair share of important responsibilities. If you are preparing to buy your first home at the Lake of the Ozarks (or if you have recently joined the ranks of proud local homeowners), keep reading to find a few important tips for first-time homeowners.
1. Your New Home Will Cost More Than Your Monthly Mortgage Payment
While it is true that owning a home is often cheaper than renting if you plan to live in your chosen location for at least three years, don't be fooled into thinking that your monthly mortgage payment will be the extent of your financial responsibilities. As a homeowner, you will also be required to pay for all utilities (water, electricity, trash, gas, etc), repairs and upgrades, insurance, and homeowners association dues (if applicable). You'll want to make sure you leave room for these types of expenses in your budget!
2. You Have To Learn To Prioritize
Even if you bought your dream home at the Lake of the Ozarks, there will undoubtedly be things you want to do or change on the property in order to make it unique to you and your family. As a homeowner, one of the first (and most important) lessons you must learn is that there will always be another task on your mental to-do list - yes, always. Unfortunately, both your calendar and your budget will require you to prioritize and separate your "wants" from your "needs." Don't overwhelm yourself by expecting to tackle everything on your to-do list within the first 6-12 months.
3. You Have To Stay On Top Of Small Maintenance Tasks
Owning your own home comes with a lot of responsibility. There are countless small maintenance tasks that must be performed regularly in order to keep your home safe and in good overall condition. Here are a few examples of these types of small maintenance tasks:
Owning your own home is unbelievably rewarding, but it certainly comes with its fair share of important responsibilities. If you are preparing to buy your first home at the Lake of the Ozarks (or if you have recently joined the ranks of proud local homeowners), keep reading to find a few important tips for first-time homeowners.
1. Your New Home Will Cost More Than Your Monthly Mortgage Payment
While it is true that owning a home is often cheaper than renting if you plan to live in your chosen location for at least three years, don't be fooled into thinking that your monthly mortgage payment will be the extent of your financial responsibilities. As a homeowner, you will also be required to pay for all utilities (water, electricity, trash, gas, etc), repairs and upgrades, insurance, and homeowners association dues (if applicable). You'll want to make sure you leave room for these types of expenses in your budget!
Even if you bought your dream home at the Lake of the Ozarks, there will undoubtedly be things you want to do or change on the property in order to make it unique to you and your family. As a homeowner, one of the first (and most important) lessons you must learn is that there will always be another task on your mental to-do list - yes, always. Unfortunately, both your calendar and your budget will require you to prioritize and separate your "wants" from your "needs." Don't overwhelm yourself by expecting to tackle everything on your to-do list within the first 6-12 months.
3. You Have To Stay On Top Of Small Maintenance Tasks
Owning your own home comes with a lot of responsibility. There are countless small maintenance tasks that must be performed regularly in order to keep your home safe and in good overall condition. Here are a few examples of these types of small maintenance tasks:
- Change the filters in your HVAC system every 3 months.
- Check the batteries in your smoke and carbon monoxide detectors every 6 months.
- Clean your dryer vent and lint trap regularly (to prevent fire hazards).
- Check window frames and door frames for cracks.
- Clean underneath and behind your refrigerator to keep it running efficiently.
- If you have your own septic system, empty your tank every 3-5 years.
This is only a small sampling of the types of standard maintenance tasks every homeowner should perform regularly - and it doesn't even touch on the long list of tasks that must be completed on a seasonal basis. It may seem like a lot of work, but taking care of these types of tasks preemptively can avoid the need for expensive repairs.
Searching For Your New Home? Devine & Associates Real Estate Is Here For You!
Owning a home may be a big responsibility, but it can also one of the most rewarding experiences you will ever have. There is nothing like the pride and personal satisfaction that comes from having a space of your own! If you are still searching for a new home in Eldon, Missouri, contact the team at Devine & Associates Real Estate. We would love to help you find your new place to call home.
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