For most, buying a new home is the largest purchase they will make in their lives – and it surely is an exciting one! Finally having a place to call and make your own is such a special feeling.
Don’t get caught up in the newness of your home and forget these potentially costly mistakes!
Furnishing Your Home ASAP
If you previously lived in an apartment, the furniture that may have seemed like more than enough could now look scarce in your spacious 3-bedroom home. A common mistake that most new homeowners make is rushing to purchase enough furniture to fill every room in their home. In reality, this could take a big chunk from your savings.
Instead, you should live in your home for a while to get to know your space and understand what it needs. Maybe you’d like to turn your extra bedroom into an office or nursery.
Making Major Changes Too Soon
Sometimes perfecting your dream home takes a little extra work after your purchase. As appealing as it might be to break down walls for an open floor plan or expand the kitchen for more space, these extreme changes can cost you big time. Changes you may feel will improve your home and add value could actually cost you in the long run. It’s important to check the return on investment or ROI with your agent or appraiser prior to making any drastic changes.
Spending Too Much on a Remodeling
Unfortunately, most new homeowners make the mistake of underestimating remodeling projects – in both cost and effort. Most jobs will cost more than you expect. That’s why it’s important to consult with a professional (or even multiple) regarding your project to determine what is a practical estimate for your project in both time and funds.
Not Using Your Home’s Features Properly
In an effort to save you money in the long run, be sure to use your home properly! Storing things in the attic could result in your roof sagging or a possible collapse, causing a costly repair. Another mistake most new homeowners don’t consider is bathroom and laundry fan. Although a fan can be noisy, it’s meant to remove excess moisture from the air – preventing the growth of mold, mildew and fungi.
Hiring a More ‘Affordable’ Professional
If you do need to make changes or adjustments to your home, it’s important to receive various quotes from seasoned professionals. If you simply choose the most affordable option without checking references, your home could suffer the consequences. Although price should play a part in your decision, it’s important to find a professional best fit for the project.