Confessions of a first homeowner

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Moving into your first home should be an incredible experience. While we are growing up, we are fed images of moving into our dream homes problem free, and living out the rest of our lives happily ever after. While this is something that can be achieved, unfortunately there are mistakes, errors or problems that first homeowners encounter along the way that impacts them both in the short and long term. Below are a few of the common mistakes made when moving into a new home.

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Buying cheap furniture.

In the beginning, it always seems like a cost effective idea; especially when funds are tight! Should you choose to invest in furniture (or replica furniture if you seek the designer touch), you can purchase those that will last for a few months or spend a bit more and get the ones that will last longer. The costs that go into the higher priced items can include the quality of the raw materials used, as well as the craftsmanship and design. Furthermore, investing in good bedding is incredibly important. You will be sleeping for at least 40% of your life. Investing in a good mattress is something that you shouldn’t avoid investing into. Overall, you want to make your home the best sanctuary for you, so invest in your future comfort!

Not checking the house properly.

When you are inspecting the house, ensure that all of the inspections are done correctly. Inspect the home for any existing damages and potential threats to the home’s structure. Does the property have any issues with leaks? Are there issues with termites or rodents? Are there any cracks or issues with the building’s structure? These are important considerations that need to be researched prior to the purchase of the property. Once the property has been transferred, the costs associated to resolve or repair issues within the home could go through the roof!

Insurance protection.

Insurance protection is a massive consideration point for your home. There are several risks to take into account when moving to your new home. These include theft and damage caused from natural disasters such as fires or flooding. Depending on the area your home is in, the amount of risk that the insurance underwriter will assess will vary; thus affecting the cost of your insurance policy. You do have the choice to go without insurance. However, should something occur, you may lose your home and everything that you own within it. Furthermore, it is important to make sure you get the right type of insurance to ensure that you are covered for the correct risk categories. In Australia, there are stories each year that detail how new homeowners have lost everything due to not being covered in their insurance policies. In some scenarios, they stand to not only start from scratch, but to start from a negative position where they may owe money to the bank or other lenders for items and the home that they purchased on credit. When it comes to insurance, check yourself and protect yourself.  You don’t need to put yourself in a position to ‘wreck yourself!’

Redirecting mail.

It may be simple act of just going down to the post office and advising them that you have changed your address; however many new homeowners fail to notify the right companies and their postal service about their new address. By failing to redirect your mail, you are increasing the risk of missing important correspondence that could see you miss important bank statements, credit reports and official notifications that could further lead to you receiving fines and administrative action against you.

There are many mistakes that can easily be made when moving into your new home. Plan your move and invest into smart options that will reduce the risk to any potential threats and enhance the quality of life that you want to make in your new sanctuary. You only move into your first home once. It’s best that you get it right from the start.