You’ve purchased your first home, now what? Often times, real estate agents will hand a new homeowner their keys and send them on their way. If you’ve never owned a home before, the piling to-do list right after move-in can seem daunting. To help ease your worries, we have listed 3 things you should know to get started as a new homeowner.
Create a Homeowner’s Binder
There is a mountain of paperwork associated with purchasing a home. From contracts to tax statements and more, you can quickly feel buried under all of the papers. To keep everything organized, gather all home-related documents in a binder for safekeeping. Start with your mortgage and home insurance paperwork, and use divider tabs if needed to manage the different categories. It’s also a good idea to keep appliance warranties and additional housework contracts here.
Build an Emergency Fund
Something happening in your home will be inevitable. Whether you’re there for 2 months or 10 years, everyone runs into some type of issue that requires a little more cash than expected to fix. This is why it’s smart to have an emergency fund set aside so that any surprises that come up are merely an inconvenience. By having funds handy, you won’t be stressed trying to figure out how to pay a large bill that may not have been previously budgeted for.
Watch Energy Usage
Your new home may not use the same amount of energy as your previous place of residence. It’s important to pay attention to the energy output to have a good idea where your utility bills will land. By being smart about the energy used in your home, you will notice lower utility bills. Win-win! Two ways to start saving energy would be to lower the thermostat on your water heater to 120 degrees, which will result in a lower water bill. The second would be switching all of the lightbulbs in your home to energy-efficient LED bulbs.
There is a plethora of things to know when owning a home, but these ideas should give you a head start.