“I Hate Being A Homeowner”

You’d always dreamt of this day–the day you’d move into your first home. You bought it for yourself, by yourself–and this is worth celebrating!

It’s a huge accomplishment. In fact, it’s one of the biggest investments you’ll make in your lifetime, which can be amazing and scary all at once.

Now you have a home that you can truly make yours, and everything is going just as expected…except that it’s not. Things are a lot harder than you thought they’d be!

At some point, you’ve probably even found yourself saying, “I hate being a homeowner.” Even though you know you don’t really mean it, owning a home is hard work! It might even be more work than you’d ever imagined.

Here are a few of the biggest lessons everyone learns after becoming a homeowner for the first time:

1. You wish you’d started saving earlier.

The sooner you start saving, the better. Every little bit counts, and even putting aside an extra $50 – $100 every month can make a big difference in the long run.

2. You have to do your research.

If you’re in too big of a rush to buy, you might be missing out on neighborhoods that are better suited for your family’s needs. Take the time to check out different areas and compare so that you can move into the option that’s best for you.

3. Even when you think the worst is behind you, it’s probably not.

Outside of the initial payments, there are always going to be those surprise challenges, those extra payments you weren’t expecting. You’ve been a renter for so long, you hadn’t considered things like utility bills and home repairs. And lawn maintenance? What’s a lawn! In addition to saving for your home, start putting aside money early to cover these unexpected expenses.

4. Compare mortgage rates.

Don’t accept the first mortgage rate you’re offered. Take the time to price shop, and explore your options when it comes to loans.

5. Play a hands-on role in the inspection.

During your home inspection, be sure to ask questions and take notes. And don’t be afraid to check things out for yourself. It’s important that you pay attention to the details and play a hands-on role in the inspection; otherwise, those little issues you overlook could end up costing you big-time.

6. Bring a friend with you.

Bring a friend or family member who isn’t moving into the house, and ask for their unbiased opinion. When you’re excited and in the rush of buying a home, it’s easy to overlook glaring issues and concerns. They’ll be able to identify any problems you might have missed.

7. Wait to decorate.

Decorating your new home can be one of the most exciting parts, but instead of buying everything the day after you move in, save yourself (and your wallet) the pain by taking things slowly. Make sure you really shop around and invest in furniture and decorative pieces that you really love. Otherwise, you could get stuck with an over-priced couch that you don’t even like or a painting of a clown just because it was on sale…

8. Identify the problems you can live with…and the ones you can’t.

No home is perfect. It’s important to remember that you’re investing in more than the home itself. You’re also investing in the neighborhood and location.

9. Get the best homeowners insurance policy you can find.

As we mentioned before, your house is the biggest investment you’ll make in this lifetime. Rather than settling for the cheapest policy, it’s important to find a policy that meets all of your needs at the most affordable price. Luckily, we know someone who can help with that.