Bonus – Beginner Guide to Buying a Home series

Here’s a bonus article for my 13-part series, Beginner Guide to Buying a Home. This step-by-step series took you through the entire home-buying process — from finding a buyer’s agent to settlement day. Now you’ll learn a few tips on how take care of your new home and make it yours!

Now you are a homeowner. It’s an incredible feeling owning your own home. Now you can make it just the way you want. Even something as simple as picking your own paint colors can be so liberating!

But the flip side is, when something goes bump in the night – there is no landlord to call to fix it. Now you are responsible for repairing and maintaining your home. You have to set the budget and decide what improvements you are going to make over time.

There are so many things to do in your new home. Getting to know your neighbors and becoming part of the community on top of all the other things on your to-do lists.

As you settle in there will be high moments and low. I know the high moments will far outweigh the low.

These 20 tips below provide a good overview of what you can do to maintain your home AND make you a happy homeowner:

1. Create a home manual JUST for your home. Create a maintenance manual, it can be physical paper, or you can download a maintenance app, you just need something to schedule, track and record repairs and upkeep. As you go through the year you will get a better idea of the cost of various maintenance tasks and be able to budget for them going forward.  

Put a folder together where you keep documents for your home and its systems, owner’s manuals (you may want to download the manuals and keep them on your computer); service records; warranties; the age of your roof, furnace, water heater, washer/dryer, refrigerator, and other important appliances. Keep track of paint colors, flooring, furniture receipts.  Keep track of landscaping work and how to care for your plants, shrubs, and flowers.

2) Maintain an updated list of phone numbers of service providers. This list should include your plumber, electrician, utility company, landscaper, HVAC, etc.  You’ll be able to contact them quickly when needed.  Also keep notes on each of their visits and get second opinions for larger repair or replacement recommendations. You may want to get annual service contracts, see Your home needs these three Annual Service Contracts for suggestions.

3) Keep records and receipts of your home improvement and maintenance costs. Some of these repairs and improvements may qualify for tax benefits, so keeping the receipts to discuss with your accountant could help save on taxes. In addition, by keeping good records you will be able to remember and document all the improvements you have made and when as well as the age of appliances and other major items such as the roof that you have replaced.

When you sell, having the above three items will help. Buyers will love getting the information and know that the home they are buying has been well cared for.

4) Keep a realistic pace and budget for buying things you need for your home. You are moved in, have watched all those HGTV shows, and saved ideas in Pinterest.   You have a whole list of items big and small you need to purchase from the practical like a lawn mower, cleaning supplies, rakes, and brooms to the fun and necessary like window treatments, a sectional couch, deck furniture, lamps, etc.

Make a plan and set a budget.  Take your time, decide what is crucial right now. Live with your old furniture and décor and really hunt for things you will love long term. If you can hold off shop for seasonal items at the end of the season for great deals, patio furniture and grills go on sale in September. If you do need to buy, aim for holiday sales to make your purchases. 

5) Have an emergency maintenance fund for any unexpected costs. It doesn’t matter how well you and the previous owner cared for your home the unexpected happens. Something will break and you will not be able to put off repairing it, the furnace in the middle of the winter, the hot water heater, a ball through a window. So be prepared for these surprise expenses.

 Plan to spend about 1%-2% of the cost of your home on maintenance annually. By putting this money aside, you can sleep easy knowing you are prepared. 

6) Cut the costs of utility bills by conserving how much heat, electricity, A/C, and water you use in your home. Upgrade to an automatic thermostat, some will learn your occupancy habits and manage the temperature while you are away. Setting back your thermostat just 10-15 degrees for eight hours a day can save you 5-15% on your heating bill annually. Turn down your heat and wear sweaters in the winter. Contact your utility company and find out about budget plans they may offer. They will estimate your annual usage and bill you a set amount each month so you can manage your costs. See if they offer a free energy audit. They can show you ways to make your home more energy efficient. You can prioritize the list and tackle it over time.

7) Hire an accountant so you know how to prepare your taxes correctly. There are several deductions and credits available to homeowners. Having an accountant prepare your taxes will help you maximize these. The tax codes change every year, and an accountant stays up to date. Even if you only have an accountant prepare your taxes the first year, you can use this tax return as guide for next year.

8) Double check that you have enough homeowner’s insurance. It should include flood and fire protection plans. If you have sump pump, make sure you have drain and sewer backup coverage. You may want to consider a life insurance policy so your family can stay in the home if anything happens to you. If you don’t have disability coverage through your job, you may want to add that as well to cover your homes expenses should you be unable to work.  Put aside an emergency fund in case you are laid off or loose your income for some reason. Try to save at least 3 months total expenses, mortgage, car lease, utilities etc. Over time raise it to 6 months.

9) Act quickly to address damage or problems you see in your home. A small problem could be the precursor to a more costly one. Stay on top of regular maintenance to offset regular wear and tear. Schedule annual maintenance calls for items such as your Chimney, furnace, HVAC etc.  Be diligent about seasonal maintenance to prevent or minimize damage from snow, ice, heat, and flooding.

10) Create an inspection list and go through your home twice a year, once in the spring and once in the fall, to check on the condition of each item.  Go through you home with a keen eye for changes, leaks etc.

Your Inspection list should include both inside and outside items: roof, windows, foundation, gutters, attic, insulation, HVAC, chimney, driveway, and etc. Look for damage from water leaks, mold, and pests such as termites, mice, squirrels, rats. Pay particular attention to items that are getting to the end of their life so you can keep a closer eye as they reach or exceed life expectancy. For example, your roof can last 15-20 years if it has asphalt shingles, or up to 50+ if it has slates.

11) Know your major appliances – such as fridge, stove/oven, dish washer, washer/dryer.  Review the owner’s manuals for regular maintenance requirements. Know how old they are, their life expectancy, how they work, who to call for repairs. If you take good care of your appliances and follow the maintenance suggested, you can extend the life of your appliances.  For example, a fridge can last from 9-13 years; air conditioning unit from 8-15 years, a water heater 10-11 years. Remember to keep the owners’ manuals for easy reference.

12) Buy tools you’ll use regularly to maintain your home and to make minor repairs.  Put together a toolbox with tools you will use regularly. Try to avoid buying tools you will only use once. See if you can rent it or share the cost with neighbors or family.  Stock your toolbox with a hammer, four in one screwdriver, utility knife, putty knife, saw, wrench, pliers, and drill/driver. A caulk gun is optional but your will most find yourself caulking something on a regular basis.

13) Learn some basic DIY skills that can save you time and money on repairs. Some small maintenance jobs may not need a handy man or plumber, like replacing the flapper on a leaky toilet. Check out YouTube videos to see if you can trouble shoot a problem and address it yourself. YouTube videos are chock full of information, with step-by-step instructions. Other sources of information for DIY maintenance are home improvement websites and workshops at local hardware stores. If you are comfortable with tackling some of these tasks, it can save you hundreds of dollars.

14) Hire a qualified contractor or handyman for more complex jobs. This is when it’s important to have a higher level of expertise so you can maintain the value of your home, not detract from it. No future buyer likes to see a shoddy and unprofessional job! If it’s something more complicated than a clogged drain, for example, maybe that’s where you draw the line on the DIY.

15) Be patient and don’t expect your home to look like a HGTV makeover overnight. Reality shows are great for inspiration. But trying to do it all at once can be expensive. Don’t rush to get every room finished and perfect.

16) Live in your home for a while to get a feel for the ebb and flow of it. By living in your house for a while, you will learn how your family is using it, how they flow from room to room. This will help you decide furniture placement, maybe the big sectional you were thinking of will make moving around it awkward.  Take a year, especially if you are thinking of a major remodel like removing a wall or renovating the kitchen. By living with your home, the way it is, you can see what works for your family and what doesn’t. Once you renovate the kitchen you are going to have to live with it for a lot longer than a year, so taking the time to see how the current layout functions will help you create a space that works well for your family.  

17) Paint is a cheap, quick fix-up.  Just painting a space can transform it. The right color can make a room more attractive and friendly, an inexpensive and easy fix to satisfy your HGTV envy.

18) Try to forge a good relationship with neighbors.  You don’t have to be overfriendly if that’s not your style, but neighbors can be a good source of information about the community and help you out when needed (borrow that shovel you never bought in time or an onion for that chili recipe!).

19) Do what you can to help to create a positive community feel to your condo, street or neighborhood and make it a place you will love to live in. Get involved and attend your condo meetings, help host an annual block party on your street, or hold regular summer happy hours, etc. Plus, having a great community feel can be a good selling point when the time comes.

20) Sign up for a neighborhood next door or community blog, Twitter, or Facebook accounts to get all the inside information. Keep up on what’s happening in your neighborhood (did someone see a coyote), get recommendations for contractors, plumbers, and electricians, etc. If your town has a newsletter or emergency text service etc., sign up to stay informed.

I hope these tips will keep your home in tip-top shape all year long and you’ll love being a homeowner. Enjoy your first year and remember that all of this will be beneficial to your home whenever it’s time to sell!