There's no greater thrill for first-time homebuyers than opening the door for the first time to your new Glenview home. You can nap in your own backyard, paint your bedroom any color you fancy, and you don't have to worry about a landlord checking in on you. However, some first-time homebuyers get so swept up in the excitement they make mistakes that can jeopardize everything they've worked so hard to earn.
Don't be one of those people who get too swept up. Instead, take a few moments to learn smart steps that will help ensure your first Glenview home becomes the place of luxury and financial freedom you expected it to be. In fact, these are so important, I've broken them up into two articles so as not to overwhelm the first-time homebuyer all at once.
Don't go Crazy on Furnishings and Remodeling
Your life savings, or a large portion of it, was just used as a down payment, closing costs and moving expenses. In fact, money is normally tight for first-time homebuyers. Your savings may be depleted but your monthly expenses have just gone up thanks to new expenses, such as homeowners insurance, and added utilities such as water and trash that may have been previously included in your rental.
It's understandable that you will want to personalize your new Glenview home. You will want to upgrade that aging furniture you may have for something nicer and more grown up. However, now is not the time to go on a massive spending spree improving and updating everything right away. Just as important as getting your first home, is staying in it, and as nice as solid maple kitchen cabinets might be, they aren't worth jeopardizing your new status as a homeowner. Give yourself time to adjust to the expenses of homeownership and rebuild your savings; the cabinets will still be waiting for you when you can more comfortably afford them.
Hire Professionals when Needed
You may feel that you can save money by making all improvements and repairs yourself. Make sure they are those you are qualified to make. Painting, caulking and simple improvements are great DIY projects. However, if you want to install an electric garage door opener with no existing wiring, that may be over your head and hiring a professional is the best way to keep your home in top condition and avoid injury to yourself. Your home is both the place where you live and an investment, and it deserves the same level of care and attention you would give to anything you value highly.
Don't Leave Important Maintenance Items Untouched
One of the new expenses of homeownership is making repairs. You can no longer just call the landlord if your toilet is clogged or your roof has sprung a leak. While you should exercise restraint in purchasing the nonessentials, you shouldn't neglect any problem that puts you in danger or could get worse over time, turning a relatively small problem into a much larger and costlier one. Motto: Repair a minor problem now to avoid a major one later.
These are just the first smart steps to follow as you move into your first home. Look to review the next smart steps to follow as a first-time homebuyer. After the next article, you will be ready for The Marla Schneider Team to start finding you your first Glenview home.