A Step-by-Step Guide For the New Home Owner What to Expect When Buying Your First House

A Step-by-Step Guide For the New Home Owner What to Expect When Buying Your First House
A Step-by-Step Guide For the New Home Owner What to Expect When Buying Your First House

One of the reasons that speakers are asked to give a speech is because there is an audience that want’s to learn how to do something. These are often the best audiences for us to address because they are eager to learn and they will pay close attention to what we have to tell them. Creating a speech that will provide them with the information that they are seeking can be difficult to do. A speaker needs to understand what information has to be gathered and how it should be presented. In order to study how this can be done, let’s take a look at the information that you would have to provide to an audience that was getting ready to buy a house for the first time.

You’ve decided it’s time to purchase your first new house. Congrats!

Becoming a new home owner is an exciting time. It’s also one full of stress and anxiety. There are so many variables to account for, and it can be overwhelming for many new buyers.

But the good news is that the more you educate yourself on the process beforehand, the better off you’ll be.

Because while there can always be parts of the process that can catch you off guard, the more prepared you are, the better you’ll be able to adjust accordingly.

That’s why we put together this blog post on some things to expect in the home buying process. So you’ll at least be more knowledgable on certain aspects of the buying, closing, and renovating stages of buying a new home.

Sound interesting? Keep reading to find out more.

Wait Before Making Big Changes

Often after a home purchase, there’s a temptation to dive in with renovation projects. But that can be a big misstep. You don’t want to be too eager in changing things up, only to realize later that the house was pretty great as is.

That isn’t to say that you shouldn’t make the necessary changes. You should.

But it’s a good idea to live in your new house for around 12 to 18 months before undertaking any major renovations. That includes things like knocking down walls, building additions, etc.

Your take on what the house needs, as well as what you need, might change in that initial period of living there. So save yourself the time and money upfront by keeping it more or less as-is for a while.

You’ll also avoid having any remorse that you made changes you ultimately don’t like.

Logistics of the Actual Move

One big mistake some people make is not to prepare for the move-in process with enough care.

For starters, you want to treat the packing and actual moving of your possessions with as much attention as you did the home search.

Search around for reputable movers. Get quotes from at least three different ones before settling on a company. You also want to check reviews carefully, as well as seek out references from prior clients.

If you’re planning to move by yourself, make sure you leave more time than you think you’ll need. There are always things that arise during the packing and moving process that end up taking more time than you originally thought.

And rent a truck that’s a little bigger than you think you’ll need as well.

Another thing that often gets overlooked is the locks to the house. You’ll want to make sure you change the locks right after you move in. You never know how many copies were made of the previous locks, and who now has them.

Safe yourself on the piece of mind that comes with knowing that you are the only one who has a copy of your house keys.

Property Taxes

You probably already know there are closing costs in buying a house. That includes things like title paperwork and insurance. And hopefully, you’re working with a real estate closing attorney that is guiding you through the process.

You may already know that you’ll have to pay property taxes. If you’ve been renting up until now, that’s an added expense you haven’t had to make.

So for starters, make sure you have money put away every year for that.

But you should also be ready for the amounts to change on you. Maybe you looked up the current property tax on the county assessor’s website and assumed you’ll be paying the same amount as the current owner.

But the reality is that property taxes tend to change from year to year. Plus, there are a number of factors that can cause your house’s assessment to go up. A reassessment is often triggered by the sale of a home.

That means it’s likely that as soon as you close, the county will reevaluate what your property tax will be, and that might mean it will go up.

Go Easy on Personalization

Nothing can get you into a financial hole on a new house purchase easier than spending too much on renovation and personalization.

I get it. You want the house to truly be yours. And for many people, that means upgrading and customizing components of the house.

But at the same time, it’s important to keep in mind that with homeownership comes many expenditures that you didn’t have before. And you can quickly eat up your saving with those.

The last thing you want is to get halfway through remodeling your kitchen, only to realize you don’t have enough saved to pay for your property taxes or utilities.

The best thing is to spend a while managing the costs and expenditures of homeownership to make sure you can easily take it on. Once you’ve convinced yourself you have that under control, move on to personalizing your home.

Maintenance and Contractors

At the same time, err on the cautious side when it comes to vital maintenance that your new house needs.

If you were previously renting, you only needed to call your landlord or management company when things needed repairing. With your new house, you need to take care of things yourself or call in a professional.

It can be tempting, especially with a new purchase, to assume that you have plenty of time before getting around to fixing a clogged toilet or leaky roof.

But these things can quickly escalate and turn into major problems if not treated quickly and skillfully.

You should also resist the temptation of going the DIY route if you aren’t a professional. Hiring a qualified contractor can be a sound investment, especially on a new home that you plan to live in for years to come.

You’ll save money in the long run by having professionals take care of your repairs and maintenance.

Being a New Home Owner

As you can see, being a new home owner isn’t without its challenges. But the good news is that the more you prepare, the easier the process will be.

Hopefully, these tips will guide you on the types of decisions you’ll need to make as a new home owner. And if you run into any legal issues, keep browsing our blog to learn more about dealing with them through Alternative Dispute Resolution!