Owning a home is a fulfilling experience. It’s your own special space to create memories with the people you love. But even the best things in life, like homeownership, come with a few unexpected challenges.
The good news is, most of these can be avoided altogether with proactive prep and maintenance. Whether you’re a new homeowner, or have lived in your home for years, getting in front of potential problems with a few basic tasks can prevent problems down the road.
Here are six common things homeowners forget. Plus, how to avoid them from the get-go.
- Forgetting about (or ignoring) the small stuff.
Small problems can turn into bigger ones over time. For example, a leaky faucet or constantly running toilet can cause your water bill to be much higher than it should. Or a small crack in the deck could lead to rot, requiring the board—or the entire deck— to be replaced.
When you see “small” things around the house, take steps to address them as soon as you can. It likely will be a lot easier (and cheaper) today or tomorrow than a year from now.
- Skipping maintenance on your appliances.
When was the last time you cleaned out your dryer exhaust vent? Or checked the hoses connected to your washing machine and dishwasher? If it’s been awhile, you may be at risk of too much lint buildup that can cause a fire or leaking hoses that can create significant water damage. Keeping up on your appliances will ensure they work effectively and prolong their lifespan, while preventing serious risks.
Other tips:
- Clear out your dishwasher’s food filter regularly.
- Vacuum up dust and other debris in window air conditioners before you start using them each year.
- Remember to test your smoke and carbon-monoxide detectors twice a year, installing fresh batteries each time.
- Not trimming back the trees.
Do you have any trees close to your home?
If so, limbs and branches close to or touching your house can cause some serious damage. Trim back any branches or limbs so they are at least 6 feet away from your home, and if the tree seems to be dying, consider getting it removed altogether.
- Not establishing an emergency fund.
A good rule of thumb after closing on a house is to save up enough money to cover six months of your normal payments. In the instance you run into unpredictable hard times and there’s not enough money to cover the bills, having a fallback fund will ensure that an unexpected emergency won’t create a financial disaster.
- Neglecting other systems.
Your HVAC system needs attention, so it won’t fail when you need it most. Having your furnace, heat pump and/or central AC unit serviced each year before you start using them regularly will alert you to any potential problems. You don’t want to find out that your furnace is malfunctioning when it’s 30 degrees outside, or that your AC is out of commission when it’s 95. Change filters at the appropriate intervals, and if it’s been a while since you’ve had your ducts cleaned, consider that, as well.
- Not budgeting for house-related expenses.
Creating a budget to account for all the new items you’ll need as a homeowner will help you allocate your money wisely. Since buying a house costs more than just writing that monthly mortgage check, new owners should also be aware of related costs. These costs may include homeowner’s insurance, property taxes, utilities, and homeowners association (HOA) fees, as well as the cost of buying the tools and equipment to care for the landscape and handle DIY repairs. Start up a spreadsheet to plan for any extra expenses that your home will require.
Your home is one of the biggest investments you’ll ever make. Being diligent about how you care for your home is one of the best things you can do for your finances and future. Keep your eyes open around the house. You’ll always be glad that you got out the toolbox, or called a professional, sooner rather than later!
