You’ve finally settled into yourDorsey Family Home! Congratulations! The boxes are all unpacked and the last of your household appliances has been delivered and installed. Welcome to homeownership! Owning a home is one of the greatest accomplishments a person can reach and comes with immense pleasure and pride. But owning a home is a huge responsibility, and the pressure that comes with homeownership is felt the most during year one. Keep these tips in mind when going into the first year of owning your home!
Rainy Day Funds
Save, save, save! We can’t express enough how important it is to have a rainy day fund.Ilyce Glink, author of 100 Questions Every First Time Home Buyer Should Ask,states that homeowners “should expect to spend between 2 to 5 percent of the purchase price of the home per year in ongoing maintenance and upkeep.” Try incorporating your rainy budget into your initial home buying budget, so you’re not scrambling to save money after closing.
Expect the Unexpected-Although Dorsey Family Homes is the premier Howard County homebuilder, guaranteeing only superior quality homes, unexpected repairs are inevitable and can take a toll on your expenses, especially within the first year of living in your new home. From frozen pipes to clogged drains, it’s important to expect the unexpected in year one of homeownership; but that’s what your Rainy Day Fund is for!
Do-Able DIY’s-Not every project you think your house needs requires another professional to do it. DIY projects home decor, and storage projects are easy task to complete. They only require your time, tools, and little effort to reach the best results. Plus, taking on these DIY task will save you a great deal of money in the long haul.
Increase The Value For a Small Cost –Emergency repairs should be at the top of your list, thus leaving little to no financial room for those home enhancement projects you’ve been planning for. But, new homeowners have the opportunity to tackle projects that add a bit more curb appeal to there Dorsey home. Whether it’s painting your living room walls or creating a garden oasis in your backyard, choose a project that will not only add value, but increase the home’s functionality.
Good luck!
