Buying a house for the very first time comes with a learning curve, and the truth is that it might even continue after the seller’s hands over the keys. There will always be something to think of carefully, from choosing paint colors and making the right renovation decisions to understanding your new home appliances and systems.
Although you have just moved in, it is not very early to rethink the resale value of your house. Unless this will be your forever house, it is important to understand how updates and mistakes you make in the house can affect the resale. Some of these mistakes include the following:
Budgeting Halfway
One of the most common mistakes is that most new homeowners forget to budget before purchasing a home.
If you have a mortgage, which is around $2,600 per month, it means that it is the start of your bills for the house. You might also need to factor in trash removal, electric, lawn care, water, and gas expenses.
Working with the Cheapest Mover
Moving can be stressful, particularly when you are very busy looking for a new house, packing your items, and selling the current house.
In the process, it is easy to hire the wrong mover. Usually, moving comes with many expenses. So it is best to pay more attention to your budget and compare the costs of every moving company on your list.
It will be in your best interest to avoid dealing with a mover with the lowest price as it’s an indication of being an unreliable company.
Ignoring Regular Maintenance
You probably inspected your new home with a professional and licensed inspector. This means you are aware of the issues, which require more attention and what can wait.
Home maintenance doesn’t stop at that. You will also have to consider other tasks, such as power-washing, prepping the pipes, and cleaning the gutters.
A perfect way to avoid missing all these important tasks is to set up monthly or weekly maintenance schedules for every area in the house.
Altering Your Finished Grades
Probably you wish to add a walkway or patio to your house. While doing so, you can easily disrupt drainage systems around your house and even make water flow back to your home.
Your builder can deliver your house with more carefully sloped to ensure water flows away from your home. If you choose to add patios or sidewalks later on top of your finished grade, the water will not drain effectively, resulting in expensive repairs.
Contacting Just One Lender
Every first-time buyer usually gets a mortgage from one bank or lender they reach out to, which is a great mistake.
Failing to compare offers, you will leave thousands of money on the table. The more you compare, the better basis for comparison you may have to make sure you get the best deal.
The Takeaway!
Similar to most important milestones in life, being a first-time homeowner normally comes with several learning curves.
Even after closing the deal and the home becomes yours officially, there are still many things to learn, and this includes comparing mortgage offers, handling maintenance, and budgeting properly, just to name a few.