So you’re finally making the leap. You’re getting out of the rent race, buying a house, and moving onward and upward.
Congrats! Buying a home is a really big deal. It usually means more space, more freedom with your design and decor decisions, and more pride in your property.
But let’s not kid ourselves: homeownership isn’t all sunshine and rainbows. It does come with its fair share of work, and you’ll need to be organized and on top of your duties as a homeowner if you want your property to stay in prime condition.
Need help doing that? Here are three easy ways:
1. Automate your mortgage payments.
The last thing you want to do is miss a mortgage payment. Not only could it put you on the path to potential foreclosure, but it will probably cost you more in fees and penalties, too. To prevent this, set up auto-payments as soon as you close on the home. Have it paid out directly from your bank account at least a few days before the first of the month (to ensure it has time to clear well before your due date.) You could even split your mortgage and pay it bi-weekly to reduce the financial burden and lower the amount of interest you’ll pay over time.
2. Have a maintenance and chore schedule.
As a homeowner, you’ll no longer have a landlord handling all those maintenance tasks and around-the-house to-dos. Instead, those will fall on you and anyone else who lives in the home with you. You’ll need to change your air filters, mow the grass, weed the garden and clean out the gutters, and do so on a regular basis. Though it can be tempting to let some of these tasks slide, maintenance is a key part of homeownership — and it helps protect your home’s value (and the financial investment you put into it) for the long haul.
Need help? Use these printable chore lists to stay on track.
3. Get a home warranty.
A home warranty can protect you in case of unforeseen repairs around the house. It usually covers things like broken-down appliances, issues with your A/C unit, and other potential problems that could crop up. Often, you can even ask the seller to include a warranty when you’re purchasing the house. Then, all you have to pay is a small service fee when an issue arises.
Want to learn more about becoming a homeowner? Reach out to Embrace Home Loans today. We’re here to help.