Once the agreements are signed and the keys are in hand, it’s only natural for new homeowners to breathe a sigh of relief. However, there is still more to think about beyond moving in your furniture and decorating your new home. To help you prepare, here are a few of the most common mistakes that people make during their first year of homeownership, and how you can avoid them.

What to Avoid as a New Homeowner

1. Overlooking Other Costs

Previous renters may not be used to the extra fees associated with maintaining a home. Any repairs will now be your responsibility. Expenses that you should factor in include property taxes, utility services, HVAC maintenance, and any damage to the property. Financial experts recommend budgeting about 1% of the home’s value to cover repair costs.

2. Not Purchasing a Home Warranty

While it’s essential to have a budget set up for emergencies, you can also protect yourself by purchasing a home warranty. This can cover services for unexpected problems, such as plumbing, HVAC repairs, and major appliance replacements. 

3. Waiting to Make Small Repairs

Whether you are dealing with a leaky toilet or drainage problems in your yard, you should always address issues in your new home as soon as they arise. Waiting too long to seek repairs could result in more extensive damage. If you wait until after your home warranty expires, you will also be responsible for paying off all the associated costs.

Whether you’re shopping for a new home or looking to learn more about home financing, turn to the team at SWE Homes in Harris County, TX, for assistance. They are dedicated to helping prospective property owners bypass the stress of dealing with mortgage approval and overhead costs, by offering personalized support and advice every step of the way. Give them a call today at (713) 413-1000 to speak with one of their representatives about buying a new home, or visit their website for more information about their properties for sale and lease.