6 Things All First-Time Homeowners Get Wrong

Like most major milestones in life, becoming a first-time homeowner comes with quite a few learning curves. Even after you close on the house and it becomes officially yours, there’s still a lot to learn when it comes to taking care of the place—and setting yourself up for long-term success.

Having recently purchased my first home, I’ve had a front-row seat to all the trials and tribulations that come with learning how to be a homeowner. Here are seven of the biggest mistakes first-time homeowners make (myself included), plus some helpful tips from the experts on how to avoid them.

1. Calling a repair person with the wrong specialty

This might not sound like a big deal, but it can actually end up costing you quite a bit of time and money—especially if there are significant household repairs on the line.

“This is the most common mistake committed by first-time homebuyers,” says Joshua Haley, founder of Moving Astute.

“When you hire a repair guy who doesn’t specialize in fixing what’s broken in your home, the cost of repairs could skyrocket,” says Haley. “Homeowners have been known to spend upward of $135 an hour on a contractor who they thought was coming out for a couple hours at most.”

One way to avoid this is by doing some research beforehand. Try to gain a rudimentary understanding of what’s wrong, so you can explain the problem over the phone. This will help you avoid any confusion about the extent of work that needs to be done, and it will also help ensure you’re hiring the right person for the job.

2. Blindly hiring contractors

Speaking of hiring the right person: There are a million ways for home upgrades and repair projects to go wrong, and one of the best ways to avoid this is by making sure whichever contractor you hire has a long list of glowing reviews.

No matter what kind of work you’re having done—construction, repairs, or even just some landscaping—always make sure the people you hire come highly recommended by someone you trust.

“Always ask for recommendations,” says Michael Branson, CEO of All Reverse Mortgage Inc. “Your neighbor may know a good contractor or handyman who could help fix up your home. Remember, the biggest compliment a business can receive is word of mouth.”

3. Not budgeting for new expenses

While you might have your mortgage and utility bills under control, there are a lot of other expenses that come with homeownership that you’ll want to plan for as well. This includes any homeowners association fees, homeowners insurance, regular maintenance fees, and even property tax.

“Consult a real estate professional who will inform you of the neighborhood’s usual property taxes and insurance costs,” suggests real estate investor Richard Mews. “Another idea is to request the seller’s utility bills for the last year or so.”

Though the latter might seem weird, most sellers will understand: Whatever information you can get will help you feel more prepared for all those new expenses.

4. Ignoring routine maintenance

One thing a lot of first-time homeowners overlook is the simple fact that they’ll have to do routine maintenance—like, usually something every month.

These are things you’ll want to learn about relatively quickly, since putting them off can end up costing you a lot in repairs.

“Keep a recurring list of preventive maintenance tasks,” says John Bodrozic, CEO of HomeZada. “Your home is essentially a collection of assets—like equipment, appliances, building materials, fixtures, finishes, and landscaping. All of these things need preventive maintenance to make sure the home is operating efficiently, which saves you money on your monthly energy bills and avoids expensive fix-it and repair costs.”

5. Making home improvements too soon

When you get into a new home, it can be tempting to start filling it with all of your dream furnishings—or even to embark on some expensive remodeling project.

My best advice to new homeowners? Hold off.

What you envision for your house will likely change, especially the longer you live in it. Start by using the furniture you have, and making small upgrades by shopping for used items.

Once you’ve lived in the home for a few months, and understand how you actually use each space and what you ultimately want from it, you’ll be in a much better position to start spending the big bucks on remodeling and those fancy new furnishings.

6. Assuming you and your partner are on the same page

Becoming a first-time homeowner with someone puts a whole new twist on the relationship, which is why it’s so important to keep good communication throughout the process, and especially in those first few months.

“Don’t make decisions without discussion,” says Phillip Ash of Pro Paint Corner.

“If you’re buying your home with your partner, chances are that you’ve lived together before and know each other’s decor taste and habits. But once you own a home, it becomes even more imperative that any decisions that affect the other person are talked about. This is important—whether it’s paint color, home decor, or bigger things like renovations and taking on additional monthly expenses.”

What Real Estate Agents Need First-Time Buyers To Know

You slapped your John Hancock on the closing paperwork. You’re happy with your loan … well, as happy as you can be, considering the magnitude of the debt you just accepted. Stress dreams have mostly subsided, barring the occasional vision of some movers dropping your grandmother’s curio cabinet, shattering this priceless antique while they run off with your money.

Moving can be a pain in the you-know-what. That’s why we’ll share some expert tips and tricks to make the process as easy and pain-free possible.

Do repairs and painting first

Before moving in, go through your home looking for any necessary improvements. Is the bedroom wall a nasty shade of taupe? Is the hardwood floor scuffed and dirty? Before your movers start lugging in boxes and placing heavy furniture, get it done.

Skipping this step now can mean a headache later, when you’re forced to shove furniture into the center of the room just to paint the walls—or even take everything out of the space so you can access those scratched floors.

Hire a cleaner

For the same reason, there’s no better time to thoroughly clean your home than when there’s nothing in it.

Yes, it’s an added expense, but moving into an impeccably clean home is guaranteed to make a stressful transition much happier. After all, wouldn’t it be better if you didn’t have to scrub out the soot and ash from the fireplace yourself—or spend two days on hands and knees polishing the baseboards?

Change the locks

As soon as you get the chance, hire a locksmith to change all the locks on your house (don’t forget the back entrance or any other access points). While we’re certain the seller is trustworthy, you never know who else might have keys to your new home. Better to be safe than sorry.

Doors aren’t the only locks that need changing: Buyers who use a community mailbox should make sure to have it rekeyed by the local post office, which should cost about $40 or $50. That’s not much at all for peace of mind that no one is digging through your mail.

Don’t forget the utilities

You don’t want a sudden power outage one month after your move. Even worse is when it’s your own darn fault.

Check with the former owners to determine specifically what you’re paying for and what you need to set up, but expect to pay for water, gas, electricity, and trash—as well as any cable TV or Internet services you desire.

Check in with the HOA

Does your new home have a homeowners association? If so, contact the HOA to make sure everything is up to date. You’ll likely need to fill out transfer paperwork so it has a record of the new ownership. Even great HOAs can be difficult to deal with, requiring meticulous paperwork and cumbersome restrictions, so make sure you understand the bylaws and neighborhood restrictions of your HOA. You don’t want to get off on the wrong foot with your new neighbors, so full knowledge of how the association works is absolutely necessary.

Make a detailed list of your belongings

Moving is a complicated, messy affair—so take the opportunity to make an inventory of your belongings during packing, labeling each box with what’s in it.

Figure out the best nearby takeout

All done? Boxes in place, furniture in your house—if not in the right spot? Movers gone? The proper way to celebrate is with takeout and beer, eaten on the floor. Do your research ahead of time so you know what you want to eat, and aren’t left scrambling an hour before closing time.

Congratulations! You’re finished … until it’s time to sell, that is. In the meantime, though, it’s time to resume doing what this whole journey is all about: enjoying your amazing new digs!

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