12 Tips for New Homeowners

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Phil Puccio

Tips for new homeowners

As a new homeowner, many questions come up. Below are tips for new homeowners that even seasoned homeowners should remember, both to prevent unfortunate events and to take advantage of all possible cost savings.

1. Have an emergency budget.

This is the most important thing for any adult or homeowner. Emergencies can arise and when they do, you need a safe, accessible source of funds, e.g. B. a savings account. In times of need, credit cards can easily trigger a cycle of debt — a trend that has devastated many Americans. Avoid this by putting a small amount into your savings account every month or with every paycheck.

2. Know your homeowner’s insurance policy and fill in the gaps.

Chances are you already have homeowners insurance, which is usually required by the mortgage agreement you bought your home with. However, remember to regularly reassess your insurance needs and close any insurance gaps, especially for Storms, floods and dog bites (if you own or will own a dog). the National Flood Insurance Program Website can help you assess your flood risk and decide whether or not you need flood insurance.

3. Benefit from discounts on household contents insurance.

The two most common discounts are for bundling insurance packages like car and home and for installing protective devices like smoke detectors, security systems and automatic sprinklers etc. Some companies offer a discount for the purchase of a newly purchased or newly built home. If your home has recently been renovated and improvements such as For example, if old wiring has been upgraded, you may be eligible for a rebate or reduction in your premium.

4. Use your tax advantages!

There are many tax benefits that come with being a new homeowner, and some can lower your energy bills as well. For example, when it comes to purchasing Energy Star appliances, the government offers up to 30% of the cost of a new appliance in the form of federal tax credits. You can also deduct mortgage interest and property taxes on your federal income tax return.

5. Set up payment plan utilities.

You might want to sign up for a utility payment plan, which means the company estimates your annual costs and then breaks them down into twelve equal payments. Reducing cost volatility can help you plan better and relieve the stress of a tight budget during this transition period. Some companies also automate online payments, reducing the likelihood of late fees. Going “paperless” with utility e-bills and paying your bills online can also save you money.

6. Get to know your home.

Check all toilets, sinks, and sinks for leaks. Put tape over cracks with the date so you know there’s a foundation problem if cracks appear around the edges of the tape. If you plan e.g. For example, to put up a fence, use a utility location service to create a map labeled with the location of your water and power lines. Open up your electrical box and label your breakers.

7. Know your devices.

Consult all available manuals for your devices and check them for maintenance instructions and special features. Know how old your devices are and when they’re likely to need replacing. Since a new furnace can cost up to $5,000, it’s good to know in advance when those costs will occur.

8. Make inspections a habit.

Scheduling annual inspections can mean the difference between a quick fix and a costly disaster. Make sure you have your roof checked by a professional roofer. Look for problems like rodent or termite infestations and mold growth, which can cause costly damage and aren’t covered by many insurance policies.

9. Know when to buy in bulk.

This is one of the perks of owning a home with closet space. You won’t want to run to the hardware store every time you need to buy an air filter, but replacing filters is important to your energy bill. Buy in bulk so replacing things like lightbulbs, air and water filters isn’t as much of a hassle. Buying in bulk is often cheaper.

10. Repaint walls and/or refinish floors.

Once you’re sure of your decision, use the free space to repaint or varnish before you move in the furniture. But don’t rush or spend money you don’t have. You may need time to decide on the decor and you may even decide that you like things the way they are!

11. Think about the landscaping.

Planting trees that provide shade near your home can lower the indoor temperature during the warm months and also lower your energy bills. Shade trees also protect your home from sun damage, which is one of the reasons roofs need replacing. You should also make sure there are no large branches leaning dangerously close to your home, which could become a hazard to the outside of your home during a storm.

12. Examine your home for excessive energy losses (and costs).

If you have an unfinished attic, check that it is at least 6 inches thick in all areas. Make sure your house is airtight by using caulking and caulking. In this way you reduce drafts and heat losses, which can cost you particularly in the winter months. Check your water heater and pipes, especially the ones next to the water heater, to see if they are properly heated. If not, you can simply wrap the pipes in insulation or use an electric blanket to trap the heat. With poorly insulated pipes, you can lose 2-4°F in the first few feet the water travels. Well-insulated pipes also help get hot water to you faster.

It takes a trained eye to spot all the weak spots in a home that could result in you wasting energy on costly, inefficient heating and cooling. Careful planning, research, and talking to experts will help take the stress and frustration out of life as a first-time owner. If you are interested in making energy efficient improvements to your home such as: B. Updating your exterior roof, siding and windows, first contact a licensed professional to help you. If you live in the Port Charlotte, Florida area, our experts can help you weatherproof your home, resulting in energy savings that will save you money. Contact us today! Telephone: 941-889-9085

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