When it comes to buying a home, there is a lot to think about and a lot to plan. It can be easy for details to fall through the cracks or never be considered when choosing a house. Here is a list of the top five things that people often forget when they buy a new home.
When purchasing a home, many people forget what their new house will need or look like throughout the seasons. This might include the type of trees on the property (evergreen means no raking of leaves, but deciduous trees might create a beautiful autumn in your backyard), prepping for winter (snow loads on the roof and plowing), and mowing the lawn in the summer. As you look at buying a home, consider what it will look like and the maintenance it may need throughout the year.
Long-term needs are all about looking at the future for you and your new home. The age of the roof, the electrical, the foundation, and any outdated appliances are some of the things to consider with a home. This can also mean the long-term needs of your family — will you become an empty-nester in this house? Also, do you imagine yourself growing old here? Will the house you fell in love with now serve you for all of your future needs? Consider compiling a list of what you imagine your needs will be over the course of owning your home.
Closing costs and fees are often discussed as part of the purchase of a home and are easily remembered. Items like annual property taxes, trash and recycling pick up, snowplowing, and lawn mowing costs can be lost in the shuffle. Additionally, many people forget to budget moving costs, painting, and any furniture purchases you might need before you move into your new home.
Whether you are up-sizing or down-sizing, there is always the question of closets and storage solutions for any home. What might look like a lot of space can quickly dwindle to full closets and basements. Before moving into your new home, consider getting rid of unwanted or no longer needed items from your old house. You will want to start out with enough empty space to plan for future storage needs.
If you are a first-time home-buyer, many of the maintenance issues you may have experienced previously were probably covered by a landlord. Now that you are at the helm of this home, those costs will fall to you. The best thing you can do is create an emergency fund for those moments when the dryer makes a loud squeaking sound with every tumble or the sink leaks into the cabinet below. This way, you won’t be dipping into the money you use for groceries or paying monthly bills when something in your home surprises you.