Have you recently purchased your first home? It can be difficult to think about what entails as a homeowner whilst the excitement of owning your first home is still high but it’s better to think about the future of your home now so you don’t run into problems down the line. We have created a list of budgeting and maintenance tips to help you out.
Start Putting Aside an Amount You can Afford
It’s widely recommended that you put away as much as you can afford towards the maintenance of your home regularly to avoid paying out a lump sum in the event of an unexpected home maintenance emergency. A general rule of thumb is to save 1% of the value of your home each year to put towards the future upkeep of your property.
Maintain Before a Problem Gets Out of Hand
This goes for the small things like appliances as well as the bigger issues such as roof repair. Regular maintenance is part and parcel of becoming a homeowner and it pays to take care of your appliances and property as much as you are able to. Something as small as emptying the lint filter on your dryer to prolong its life to replacing a roof tile before a missing one causes more serious problems all go a long way when it comes to repairs or having to purchase a full replacement.
Consider the Age of Your Property
Purchasing an older home will cost you less at the outset but will more than likely cost more in upkeep in the long run so factor in the age of your property as you begin to think about budgeting for maintenance. Keep an eye on common problems that occur in houses similar to yours to catch problems before they get worse.
Regularly Inspect Your Property
Our last tip for this blog is to inspect your property periodically. Check pipes for leaks and the walls for signs of damp that could get worse in time and get them dealt with by a professional as soon as possible. What starts as a minor issue which is easily sorted can cause serious structural problems later on.
We hope this blog has been helpful, what other ways do you maintain your home and budget for maintenance? If you are thinking of buying your first home, our team have many years of experience in guiding our clients through the property buying process. Contact us here for more information.