Congratulations! You closed on your home, keys in hand, you are ready to conquer home ownership! Here are some common homeowner missteps to watch out for!
#1: Going with the cheapest contractor or lowest bid, although it seems tempting to save money … It may cost you in the long run. A simple way to check the quality and timeliness of a contractors work is to look at reviews or ask the contractor for references!
Tip: Check with relatives, neighbors or your Realtor® to get recommendations for contractors.
#2: Throwing away your receipts for updates, appliances, sump pumps, and furnace or AC units. As much as we want to declutter and throw old receipts away, try saving receipts of big purchases for you home. When it comes to the future and selling your house those receipts will come in handy.
Tip: Keep all manuals and receipts in a 3 ring binder, that way you have easy access to them.
#3: Ignoring small items on your home inspection. Using your home inspection as a ‘to-do list’ when you first purchase your home is a good idea. Peeling paint could lead to rot in the future, and loose gutters can lead to foundation problems.
Tip: Get small items done right away, small and easy repairs could turn into expensive ones in the future.
#4: Making home improvements without checking the ROI first can be one of the most costly missteps. Things like new windows, updated kitchens and bathrooms tend to yield the best ROI. It is very easy to build yourself out of your current neighborhood.
Tip: Before picking up the sledgehammer, check with your Realtor® or local appraiser, they are usually more than happy to share their knowledge with you!