Buying a new home is exciting, but it can also be a little overwhelming. If you've recently bought a house or are thinking of buying soon, here are a few new homeowner tips.
1. Set aside an emergency fund
If you didn't know already, homeownership comes with plenty of maintenance. From little things like replacing an outlet or painting a wall, to big things like replacing your HVAC or the roof, the costs add up.
A typical rule of thumb is you should be setting aside approximately 1% of the home value each year for maintenance. So for a $300,000 house that would be $3,000 per year.
You may spend less on a normal year, and more some years when you have a big item to replace.
2. Don't change everything at once
When you first move in, you might have big ideas of all the changes you'll make - a feature wall in the dining room, or completely renovating the kitchen.
Make a plan for the projects you want to accomplish, but don't make the mistake of starting them all at once. Sometimes it's good to live in the house for awhile to really get a feel for the changes that would best fit your lifestyle.
3. Start compiling a list of trusted contractors
Having a go-to list of contractors is great for reducing stress when an issue comes up.
Asking your new neighbors for referrals is one of the best ways to find qualified and trustworthy contractors.
For starters, you probably need a good handyman, electrician, emergency plumber, and an HVAC repair company.
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