Maintaining Your House: First Time Homeowner Tips

Maintaining Your House First Time Homeowner TipsFirst time homeowners are faced with countless new expenses and experiences. As many of these are unexpected, planning ahead and prioritizing projects can prove to be beneficial when it comes to maintaining your home. To help curb some financial obligations and protect against potential perils, CT Homeowners Insurance is also recommended.

More than a Mortgage-In addition to paying your mortgage, there are numerous other expenses that come along with home ownership. Expenses that were once covered by your rental fees are now your responsibility. For example, power, heating, cooling, water, sewer, and garbage services are just a few common monthly expenses to expect when you own a home. Further, property taxes and homeowners insurance are critical costs, as well.

Keep a Cash Cushion for Repairs- Depending on the condition of the home you purchased, repairs might be an immediate necessity. Experts recommend prioritizing the main issues prior to the cosmetic enhancements.  If possible, set aside some money each month for an emergency fund so you don’t have to rely on credit cards when things go awry or a certain project breaks the bank.

DIY- While some projects require specialists and experts, you can save money by doing some yourself. However, keep in mind that home projects should be completed properly and to code. In addition, Kiplinger states that you should plan for an estimated 20 percent over budget for each project. Consult with a professional prior to completing projects if you are unsure of the proper way to do them.

Buy Used Items- Buying used furniture, appliances, and tools can cut costs. By trimming these items from your budget, more money is left over for repairs and unexpected expenses. Second hand stores and yard sales are ideal for basic items you might need around the house.

Plan and Prioritize- While owning a home is costly, budgeting and reducing your spending in certain areas can help to reallocate funds to more pressing needs. While certain features in your home might not be aesthetically pleasing, major repairs and maintenance concerns should be addressed first. Separate needs from wants as a first priority in your home in order to avoid potential damage or negative long term effects.

At Byrnes Agency, we are here to assist you in safeguarding your first home, and likely, your largest investment. Our comprehensive program provides asset and property protection, as well as special coverages to defend against unforeseen risk exposures. To learn more, contact us today at one of our three locations.

If you’ve enjoyed what you’ve read here and would like to know when we’ve published a new blog post, please “like” us on our Facebook page, and share this with your Connecticut neighbors. 

Dayville Office

Phone: (860) 774-8549
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

…………………………………………………………………………………………………………

Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

…………………………………………………………………………………………………………

Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

sixteen − 11 =