6 Things New Homeowners Waste Money On
Buying a home is a very big expense and once you've kicked off all that spending, it's easy to find yourself caught up in rampant lifestyle inflation.
Homeownership comes with its fair share of unique costs property taxes and urgent repairs and energy bills, oh my. There's no need to add to their cost by shelling out for unnecessary expenses. Here are six major cash outlays that buyers can avoid.
Too much house
This one requires some thought before you actually nail the deal: how much house do you really need? Just because you're pre-approved for a hefty purchase price doesn't mean you should go as big as you can.
Fixing up your outdoor space ASAP
Updating your outdoor space shouldn't be your first priority, especially if you're tight on cash. Unlike couches and beds, which are essential to a functioning house, landscaping and decor can be put on pause.
Building your backyard at the same time as your home can cost a lot more than if you did it after the fact.
So, try pricing out your plans with a landscape contractor, and consider rolling them out in phases.
Old, outdated insurance
Still using the same company that offered you renters insurance seven years ago? It might be time for a change. Shop around.
Just because the same company had a good deal on auto or renters insurance doesn't mean it’s the best fit to protect your home. Go through all your options with a fine-toothed comb, looking for a deal that won't crush you financially but also leaves your house and its belongings secure.
After all, now it's not just your stuff it's your roof, yard, and foundation you have to protect, too.
If you're moving from an apartment, chances are good you're astounded by how much space you have. There's another bedroom and a dining room and ... yet another bedroom!
Don't feel like you have to fill it all at once. Give yourself and your home time for personality to emerge.
Instead of immediately stuffing the TV room with a generic, new couch and coffee table, wait it out. See what you really need and what you really like. In the meantime, stick the money you save into a renovation fund.
Many homes don't come with appliances installed, so first-time homeowners might find themselves making large purchases (like a dishwasher or refrigerator).
Want a tip? You don't need the extended home warranty.
What are the chances everything you own is going to break or not work anymore? Something might break within the relatively slim service window but the money you'll spend fixing one thing will be far less than the extended warranties on all the things.
Having your own yard is definitely exciting, and while it's important to keep it healthy and watered, you don't need to go overboard. Resist the pressure to hire additional help for your yard even if you've lucked into an HOA that covers it.
Don't be tempted by the sales pitches you'll inevitably receive after your purchase goes through. A gorgeous lawn is achievable and it can be done all on your own. Really.
El Paso TX and Las Cruces NM Homes for Sale
Luis F Navarro and Ana Maria Navarro Team, Real Estate agents in Exit West Realty El Paso TX. Luis specializes in commercial and residencial properties in El Paso TX and Ana Maria Navarro with license also in New Mexico specializing in Las Cruces, Anthony, Santa Teresa, Sunland Park. Whether you are searching for your personal residence, an income or commercial property, or you are introducing your home to the marketplace; our team can help make your real estate dream a reality. We are bilingual and can help you find the property of your needs either in English or Spanish. If you have any questions regarding El Paso TX, Anthony, Santa Teresa, Las Crues,Vado NM Homes for Sale call us today. Luis F Navarro (915) 731-4545 and Ana Maria Navarro (915) 820-8484
I was born in Cd. Guerrero, Chih. Mexico. Where I finished my elementary studies then I went to Chihuahua, Mexico to study High School, then I obtained my bachelor degree in Psychology. I worked in C....