Tips for people who are first time homeowners
Here are tips to ensure that you never struggle when it comes to buying a home.
Buying a house can be such a daunting experience.
According to Cobus Odendaal, who is the the CEO of Lew Geffen Sotheby’s International Realty, it is important to know what is required owning a house.
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"It's important to start on the right footing as a first-time homeowner in SA, to secure the home’s value and make your life easier," says Cobus.
While buying a home can be considered a smart investment and offers loads of benefits to yourself and your family, it can come with added disadvantages.
So the CEO has decided to help people and give five tips to help homeowners get it right.
1. Create a homeowner’s file
According to Cobus Odendaal, before you move into your new home, it's important for you to allocate a drawer in your filing cabinet for important documents relating to your home.
These documents can include your mortgage and home insurance paperwork.
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In this cabinet, it's important to keep all manuals and warranties relating to home improvements and moving expenses for tax purposes.
2. Wait to start any large projects
To improve your home is always difficult.
That's why home improvement projects are expensive, but very much necessary.
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To avoid completing unnecessary projects, it’s always best to live in your new home for a couple months before making any final decisions.
This will allow you to get a feel for your home, how the existing layout works, and what really needs to be changed.
3. Start an emergency house fund
To be best prepared for an unforeseen circumstances or issues with your property, you must always have money set aside in an emergency savings account just for your property.
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4. Focus on valuable upgrades
It's best to first focus on improvement to the property that adds the most value to it.
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It's always best to take time and do a little research on your house. Find out what the most popular features are in the area and how much the work will cost for your home.
5. Pay attention to your energy usage
This is especially important if you’ve bought a bigger home than you lived in before.
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Pay attention to how your home is using energy and learn how to reduce your carbon footprint and save money.
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