It can take years of work to save up and actually buy a home. Hopefully, you found something that’s a long-term answer if not your forever home. However, just because you move in doesn’t mean everything is done. You need to know what to prepare for in the years after buying a home.
The first thing you should brace for is changing needs and dreams on your own. Once you move into a home that you saw potential in, you might start having new ideas about things you’d like to do with it in terms of home improvements and renovations.
This might not happen to you, but it can be a shock if you’re moving in from an apartment. Your utilities might be higher since you have more space to cool or heat. Even if you previously lived in a home but rented it, then you might be caught off guard by just the annual property taxes and homeowners insurance involved with owning your own house.
From the crawl space plumbing to the roof on your home, it is highly likely that there is going to be something that needs a little work. Plumbing tends to need to be examined every few years. Some kinds of roofing repairs can actually last many decades, but even they need roof repair and maintenance. And even electrical work should be in the clear for longer than anything else, but do keep in mind that things do wear out. Do yourself and your home a favor by having these things examined on a somewhat regular basis.
Whether it’s people you get to know over time or neighbors that come to the block after you do that you just don’t get along with, there’s not much you can do except avoid them as much as possible. The exception would be if they break HoA rules or even local laws. Remember that some people have a natural tendency to dig into things that are not their own. If you need to, plant some trees, put up blinds, or even install an awning to help maintain your privacy.
If you have an adjustable-rate mortgage or ARM, then your monthly mortgage payments are likely to change when interest rates do. Should they go up switching to a fixed-rate mortgage might make sense. Conversely, a fixed-rate mortgage might not be something you want to stick with if rates go down and an ARM is several percentage points less interest.
Grow With Your Home
You probably had to grow a lot in various ways in order to become the owner of a home. However, you need to keep growing once you own your home. As much as you mastered arranging your finances and hunting for a home while shopping for one, now is the time to develop the skills necessary to be a successful owner of one.
Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on Twitter and Facebook: @RachelleWilber; https://www.facebook.com/profile.php?id=100009221637700