Costly Mistakes to Avoid After You Buy Your First Home

Dated: March 20 2018

Views: 7

You’re smart. You’re doing your research about home buying and homeownership (like you are right now!), so you feel like you’re prepared to avoid common home buying pitfalls. But you’ll soon find that once you’ve moved in, there is a whole new list of common problems that plague unwary first-time homeowners.

To help you make the best buying and ownership decisions possible, we’ve outlined some of the biggest blunders that first-time buyers make after closing on their home.

Investing in Too Many Upgrades

Not every home improvement project is worth the money or effort. Many first-time homeowners make the mistake of not considering a project’s return on investment, at least until it’s time to sell the house down the road.

If you want to know which home improvements are worth the investment, talk with a real estate agent or get a market report for your neighborhood.

Ignoring “Minor” Maintenance Issues

As your home ages, seemingly minor issues may arise. But be careful: A dripping faucet, crumbling caulk, or slanting floors could spiral into much bigger headaches if you don’t take care of them quickly.

To avoid shelling out hundreds or even thousands of dollars down the road, tackle these maintenance issues as soon as you can.

Choosing the Cheapest Repair Option

Quality comes at a price, especially when it comes to making repairs. Whether it’s picking up a cheap tool set or going with the lowest bid for a service provider, many first-time homeowners make the mistake of sacrificing quality for cost.

Trying to DIY a Complicated Project

Some things can be done yourself. Think painting, hanging up shelves, or sprucing up the front entry.

But when it comes to stuff like plumbing, electricity, or structural engineering, think again. Hiring a professional will save you time and money — and keep you from starting a project you don’t know how to finish.

Not Preparing for the Unexpected

A sudden job change, severe weather damage, or major maintenance problems can throw a wrench in your plans. Be sure that you budget accordingly for unexpected expenses as a homeowner.

I’m Happy to be a Resource

As a local real estate expert, I have a wealth of information that can help you avoid many of these first-time home buying and homeownership mistakes.

If you found this article interesting, FOLLOW / LIKE us on Facebook or please feel free to SHARE it.

Annette Denk

Move Okanagan Real Estate

Blog author image

Annette Denk

Annette has been in Real Estate since 1994. Her determination to uphold a tradition of trust, integrity, and expertise has earned her a long list of satisfied clients who recommend her at every opp....

Latest Blog Posts

October 2020 Real Estate Update

Time is just flying by! Sales are up everywhere across BC!What an unusual year, there is nothing normal about 2020! Sales in the Okanagan surpassed last year’s sales by 78% !Okanagan

Read More

September 2020 Real Estate Update

Again we had a record month. Week after week it continues! Every Realtor is working super long hours trying to keep up with inquiries, emails, texts, phone calls, showings, deals etc!Sales are up%

Read More

June 2020 Real Estate Update

The market is getting more active as Buyers are starting to look again. Well priced listings go fast, as we still don’t have enough inventory for Buyers to choose from. Sales in;

Read More