Apartment To Home: Unexpected Expenses That Come From Home Ownership

Transitioning From Tenant to Homeowner

The decision to buy a home vs paying rent is a wise decision for most people. At the same time, it takes a lot of getting used to for sure. There is no longer a landlord or management company to call when something needs fixing. Now, when something breaks, the homeowner will probably still make a call. This time, however, they will be calling a contractor or repairman who expects to be paid. Even free routine maintainable is a thing of the past. Welcome to your new world of homeownership.

Expect the Unexpected to Happen

Buying a home is a wonderful experience especially for a first-time buyer. It’s also a good time to set some money aside to pay for the unexpected expenses. After years of renting, this person is now the proud owners of an HVAC system, pipes, sprinklers, a roof, siding, gutters, and a long list of other basic home necessities. Consider some of the things that could possibly go wrong no matter the age of the house. This is where those pesky unexpected expenses come in.

• A damaged roof shingle
• An issue with the heating or cooling system
• A faulty sprinkler system
• Damaged siding
• Broken or leaking pipes
• Clogged gutters

The list could go on and on. These types of issues are problems that could even be too much for a handy do-it-yourselfer to handle by themselves. The unexpected expenses can add up in a hurry. The good news is, planning for these unexpected expenses will help home owners stay within their monthly budget. Investing in some good routine maintenance plans can help an owner better manage their household money.

Routine Maintenance Saves Money in the Long Run

Getting started is easy, and it will be time well spent. It might be helpful to make a list of all of the home appliances, fixtures and equipment throughout the house and yard. Please remember to include items like the furnace, water heater, sprinkler, the washing machine and dryer, the A/C, the automatic garage door opener, and the like. Some of these items, if they are somewhat newer, may still be under warranty. That means that when something malfunctions or breaks, the repair or replacement of it might very well be covered under the warranty. For the items that do not fall into that category, they are likely to a good candidate for a routine maintenance plan if available.

Don’t Forget “The Rules” of Curb Appeal

There are not really any hard and fast rules regarding a home’s curb appeal. landscaping and other related services are more of the things that a tenant does not have to worry about. It becomes front and center, though, when a renter becomes an owner. Be sure to factor these costs in when calculating home expenses. These expenses should include any that are involved with the outside maintenance of the house. These professional services include mowing the lawn, plantings, thatching, trimming the hedges and trees, pool maintenance, snow removal, deck repairs, and more.

This all might sound a bit overwhelming for a previously carefree tenant. The reality is that most of the above tasks become routine soon after buying a home. The best advice for a new homeowner is to do what other homeowners have already done. Find out who the best contractor is in the neighborhood. They will be the “go to” person when work is needed around the house. Life will be much simpler if you get an estimate for the job, take a deep breath or two and then go for it! Keep these things in mind when you are trying to find homes for sale.