How To Make The Transition Into Owning Your First Knoxville Home
Owning a home is quite a bit different than renting. It’s more than just making your monthly payment to a mortgage company instead of your landlord.
To some Knoxville first time home buyers, the differences between renting and owning your home can be come shockingly clear in first months of homeownership.
If you’re recently bought your first Knoxville home are thinking about buying one soon, here is how to make the transition into owning your first Knoxville home.
Be Ready To Play Handyman
As a renter, when something breaks, you call your landlord. When you’re a homeowner and something breaks, you have two choices: fix it yourself or pay someone to fix it.
Whether a home is old or new, there at some point come a time where something breaks. At the point, you’ll have to decide whether you want to fix it yourself or if you want to hire someone to fix it.
Just keep in mind, you may not want to take on all repairs yourself if you’re not savvy with what you’re doing. If you’re like most first time homeowners, you’ll quickly learn when you’re over your head with a repair.
Cost Of Owning A Home
You will also quickly learn, owning a home is much more than just your monthly mortgage payment.
If you’ve moved from an apartment, you may quickly learn that your utilities are more, based on the fact that it costs more to pay for electricity and heating and cooling in a larger property.
In addition, moving into a house, there will likely be things that you need that you’ve never needed in past like a lawn mower, weed eater, or hose, among other things.
In addition, there are the costs of any repairs and homeowner’s association dues that can quickly add up.
The Importance Of A Budget
When you own a home, you need to be prepared for the unexpected, which is why having a good solid budget is important.
You want to be sure that each month you are setting some money aside to have there for repairs or for the unexpected as well as to have the money for annual maintenance.
Maintenance Required For Owning A Home
As a homeowner, you will quickly learn that there is a fair deal of maintenance that comes with owning your Knoxville home.
One of the biggest places that will require maintenance if your yard. Keeping your yard and grass maintained is a decent commitment, particularly during the spring and summer months.
Each year you’ll want to be sure that you’ve got money set aside for routine maintenance of major systems (like your HVAC system) as well as for general maintenance (like getting your gutters cleaned).
Bottom Line – Owning A Home Is Work
When you own a home, it’s a huge financial investment that you want to keep up. It can take some work to come up with a budget and stick to it, but with a home being your largest investment, it is worth keeping up with.
Are you thinking about buying your first Knoxville home? Please let us know if there is anyway that Knoxville Home Team can assist you in your home search. You can contact Rick at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Or, you can contact Kati at 865-392-5880 or via email at Kati@KnoxvilleHomeTeam.Com.