Avoid These 4 Mistakes As a First-Time Homeowner

Published on 8/20/2021

Avoid These 4 Mistakes As a First-Time Homeowner

Owning your own home is such a great financial move. It’s also an exciting time to be able to pour more of your own personality and vibe into a space. You can truly make it yours. And while it saves you big time financially in the long run, there can be unforeseen expenses that you incur along the way. Follow this quick guide to help you avoid 4 common mistakes as you navigate being a homeowner. 

1. Issues with contractors

So first things first, do your research. In a pickle you might be tempted to just blindly call a contractor or not do your due diligence. But this will cost you a lot more than you may have wanted. So perhaps do some research when things are mildly calm to get a list of contractors to call when there is a pressing problem. 

You want to make sure you’re calling the right specialist for the job. So this is part of where your research comes in. If you call a general contractor or someone with a different specialty than what your issue is, it could cause prices to skyrocket.

And then always find people with great reviews and recommendations. Ask around to friends, family and neighbors about who’s trustworthy and has reasonable rates. 
This helps prevent you from getting charged outrageous rates or having shoddy work done. 

2. Issues with budgeting

A lot of first time homeowners make the mistake of not figuring in maintenance and unforeseen costs that inevitably crop up. One way to avoid this is to figure in a good buffer in your budget for these non-regular costs. So you have your budget fixed for your mortgage, property taxes and utilities. But what about regular maintenance for wear and tear? What about things like HOA fees and homeowners insurance? Factor in these aspects and those costs won’t hit as hard. 

3. Issues with maintenance

Another common mistake is putting off regular maintenance. Something inevitable will crop up. Figure at least once a month (if not more) that you’ll have to tend to something breaking, wearing down or just needing some maintenance. But don’t put these tasks off. Keep up with preventative maintenance on your appliances, fixtures, landscaping ect. to preserve the longevity of these assets to your home. They’ll work better and for longer if you give them the proper attention. 

4. Issues with going overboard with purchases

While it’s tempting to purchase new furnishings and décor and fill your new home immediately, perhaps hold off for a couple months. One reason is that it takes a little bit of time for you to see how you actually use each space and room. Perhaps you buy an expensive and huge sectional couch that takes up much of the living room area. But then find you would prefer to keep more of an open concept flow to the dining area. Now you have a bulky piece you don’t know what to do with. Fill the home with furniture you have for now and slowly buy pieces that really speak to you, your aesthetic, and how you utilize the space. 

Follow these tips to avoid some common homeowner mistakes right off the bat! And keep us in mind for all your storage needs as you navigate being a new homeowner.