If you’ve recently bought your first home, this is an exciting time for you and your family. Your home is probably your biggest asset and it’s important to take care of it. Here are 4 tips for a new homeowner that will help you manage all of your duties related to your investment.
When you’re a homeowner, there’s no property manager or landlord to call when you need something fixed. It can be overwhelming at first, so use these easy tips and tricks below to help everything run a little smoother.
Keep All of Your Home-Related Documents in One Place
Keep an organized binder or file cabinet for all of your home-related documents. Owning a house means dealing with a whole lot of paperwork, and it’s easy to lose track of everything if you don’t keep it all together. Store everything that is related to your house, like the deed and title, warranty cards, manuals, repair invoices, and insurance documents using labeled dividers or folders.
Get Acquainted with Your House’s Systems as a New Homeowner
It’s important to know how to turn your home’s utilities off in case of an emergency or if you are leaving the house for an extended time. Familiarize yourself with your home’s systems first thing after you move in.
Locate the electrical panel and go through all of the breakers and label them. Know where the water shut-off valves are, including the water main. Figure out where the HVAC filter is and replace it with a new one. Spending a bit of time learning how these things work will save you headaches in the future.
Take Your Time When Starting Renovation Projects
You might be tempted to start renovating right away, but take some time to settle into your new home first. After living in the house, you’ll have a better idea of what is really needed, and you can properly prioritize renovation projects and avoid unnecessary costs. You might find that you have grown accustomed to the things that you thought you’d change immediately.
Keep a New Homeowner Fund for Repairs
Owning a home means dealing with unexpected repairs and maintenance work. Having an emergency fund set aside for this purpose is going to make things a lot easier for your finances in the future.
When you don’t have money set aside, you aren’t able to take care of repairs right away or you may have to procrastinate on maintenance. Putting off these tasks causes damage to your home that often ends up costing more in the long run.