Discussing four common mistakes new homeowners tend to make.
Have you purchased your first home recently? Homeownership is exciting, but it’s easy to make mistakes when you’re first getting started. That’s why today I want to go over four common mistakes first-time homeowners make that you should avoid:
Mistake No. 1: Ignoring your home inspection report. If you ignore your home inspection report or treat it like a list of chores you don’t want to do, it could cost you in the long run. Some issues are a matter of basic safety, while others are much cheaper to fix sooner rather than later. Talk with your Realtor to find out which items you need to address immediately.
Mistake No. 2: Making improvements without checking the return. I’m not saying every upgrade you make needs to be made solely for return on investment, but check with your Realtor to make sure your renovations make sense. For example, you can build a full trampoline park in your backyard because you’re passionate about trampolines, but understand that this update probably won’t net you a great ROI.
Mistake No. 3: Choosing the lowest bid for a repair or upgrade. When you decide to change your home, don’t just pick the contractor with the lowest cost. Shop around and ask your Realtor for referrals. They’ve probably had clients make the same upgrade you want to make, so they can refer you to someone you know will get the job done well.
Mistake No. 4: Submitting insurance claims too often. As issues come up, don’t get too excited about submitting claims. If you make too many small claims, there’s a good chance you could get dropped from your insurance. Save insurance claims for big problems that you can’t fix yourself.
If you have any questions about today’s video, please call or email me. I look forward to hearing from you!