Costly New Homeowner Mistakes & How to Avoid Them

The search is over. The negotiations, worry, and stress are behind you, and closing day has come and gone. You are now a proud new homeowner.

As such, you delight in knowing you don’t have to pay rent any longer and now treater your living quarters as your own. You can paint without permission, hammer as many nails as you like, and even gut your kitchen down to the studs. You can also make some costly mistakes.

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Here are 5 common new homeowner mistakes and how to avoid them.

Hiring the lowest priced service provider. When it comes to your home, hiring the lowest priced professional to install central air conditioning or repaint your homes’ exterior, might cost you more in the long run. Make sure that all estimates and bids include the same scope of work, and use caution when someone offers to do the same job for significantly less than any other reputable contractor.

Filing insurance claims. It’s tempting to use your file a covered claim under your homeowner’s insurance policy – after all, that’s why have insurance!  But filing a claim for every little thing, especially in a short period of time, can cause your premium to rise. You’re better off saving insurance for the really big stuff and paying out of pocket for anything you can remedy for less than the cost of your deductible.

Making costly improvements without determining the potential ROI. Before you invest in a major improvement or renovation, check with a local real estate professional to find out how much of that investment you might expect to recoup should you decide to sell, especially if you’re not planning on staying in your house for more than a few years. You might love the idea of a second story addition, but you could very quickly build yourself out of the neighborhood.

Shop, but don’t spree. It might be very tempting to fill every room of your house with new furniture. After all, who wants to throw a house warming party and not have a place for their guests to make themselves comfortable? Instead, get to know your space to determine what pieces make the most sense. If possible, purchase quality goods over time instead of blowing your entire furniture budget on low-quality items that you’ll need to replace sooner than you expected.

Ignoring inspection report items. Your home inspector likely highlighted several small items that should be resolved before you close on the home. Perhaps adding a chimney cap is on your list, securing loose gutters and downspouts, or insulating your plumbing pipes. The point is, if your inspector deems them important, you should, too. Because sooner or later, one or more of them could turn into a significant repair problem.

Whether you’re buying or selling, and you want the most reliable plumbing work done before or after the property changes hands, you can always count on Your Plumber. Contact us today for any home plumbing need at all.