Homeowners: Give Me (First-Time Homebuyer) Your Advice

[mr beauxjangles]

So, my wife and I finally cleared the final hurdle in the purchase of our first home and will close in mid-October. I am 32 and have been ready for this for quite a while (meaning tired of not gaining equity), but the wife and I both still have a little lingering feeling of being unprepared in some regards. I'm sure this is normal to some degree. I'd like to think we are pretty smart people but the homebuying process has helped reinforce just how little I know about things like plumbing, circuitry, structural engineering, etc. My father didn't teach me this stuff, and my father-in-law is bringing me along whenever an opportunity presents itself. My wife and I know that there will always be something to do on the house, especially since we purchased a bungalow that was built in 1928 (recently remodeled, new roof, new electrical, etc. but still old as dirt).

 

So, this is where I ask the homeowners of the Huddle to give me their advice. I don't need advice about the buying process (we're through all that mess) but would appreciate any advice you have about being a smart homeowner - home maintenance, preventative maintenance, keeping those costs down, and generally speaking just little tips and crap that I've probably never even considered as things that I need to know as a homeowner.

 

And in the process of giving advice, please do your best to not scare the crap out of me! I feel like ever since we started this process my friends have all suddenly turned into "Don't do it, homeownership sucks, just keep renting!" mode.

 

Thanks in advance, Huddle.

[fitty76]

Termite inspection and treatment.  No matter what the cost get that taken care of within the first year.   

[Ja Rhule]

Pay for lawn service instead of trying to be profesional. (you can mowe ur own lawn tho).

 

[Panthro]

My advice...don't look at everything that needs to be done all at once. 

 

My wife and I ripped out the asphalt driveway and put a nice concrete one down our first year. Next year kid...so I worked on the outside quite a bit and have a great lawn (shout out to team turf) and we redid our master bedroom closet. This year we will pry and new counter tops and kitchen sink or a back deck.

 

So if you look at everything as $25k total instead of separate projects you will get overwhelmed.

 

My suggestion -

Pay for monthly a/c service. $20 That way you get someone to come out inspect and maintain your ac unit and change filters.

Mosquito Service if you plan on being outside

Lawn people as Arsen said. Team Turf flipped my clover and dollar weed into beautiful grassy yard in only a year. I still mow and manage it though.

You will start acquiring tools and things. Do you have a shed or garage?

If you repaint make sure you keep the colors on hand.

Store the warranties on everything.

 

 

 

[KSpan]

Read up on proper yard grading and drainage. Water is the devil when it comes to houses.

[hepcat]

Have a dedicated savings just for house repairs/maintenance.  Budget for it every month.  Since the house is newly remodeled hopefully you won't have to deal with anything major but poo happens all the time.  Garbage disposal breaks, washing machine drain pipe bursts and floods the laundry room, A/C goes out, bug infestation, overgrown tree limbs falling on your roof, etc (that's just poo that's happened at my house, and I rent)

 

 

 

[natty]

With an old house like that don't assume anything will be quick and easy.  Be prepared to replace things as you go.  I recently had to replace a water valve going to a toilet and ended up replacing the old copper tubing coming out of the wall with braided steel lines, it just made it easier.  Always over estimate the budget on projects, the little things from the hardware store will nickel and dime you to death.  Depending on the state of your appliances(water heater, hvac, ac, etc) you might want to consider getting a home warranty.  Keep at least $1000 for oh poo money, more is better.  Replace all lighting with led as bulbs burn out, it seems expensive but it's worth it.  

[KSpan]

Also, talk to some of the neighbors and get a feel for what the really big maintenance projects have cost them.  How much to paint the entire house, how much to replace a roof, how much for siding, etc.  Even if that stuff is years and years away it's never too early to start planning and saving.

[Scrumtrilescent]

Learn to think of Home Depot and Lowe's as your new toy store.  My first house was an old bungalow too that had been remodeled but it still needed some TLC.  Get a few books and pick it up as you go.  Easy stuff first.  Replacing/putting up fans, then move forward.  The list is never-ending...but I find it sort of fun.  And know what you will never, ever attempt.  For me, it's gas work.  For others its plumbing or electrical.  Then let the pros deal with those areas.  Didn't have a home warranty but can see the benefit of one, even if it has been remodeled.  I also would recommend the ac/heat service plan.  It's also a good thing to have on hand when you end up selling in the future to show you kept up with the maintenance and they aren't getting a lemon.

[RoaringRiot]

Throw some awesome house parties.

Sent from my iPhone

[PhillyB]

buy a foreclosure. you'll save a small fortune. also see if you or your wife qualify for HUD discounts.

[mr beauxjangles]

Throw some awesome house parties.

Sent from my iPhone

Y'all coming back this year? I think we might be able to fit a bus in the driveway...

[SmokinwithWilly]

Learn to think of Home Depot and Lowe's as your new toy store.  

 

For most things with moving parts, I would stay away from either of these stores. They sell the homeowner grade of a lot of things. For a few bucks more, usually about 15% more, you can upgrade to a contractor grade product from a major supply store. This will save you a lot down the road. Instead of replacing something in 5-7 years, you can go every 12-15. If it's something you're going to use on a daily basis, don't be cheap to save a few bucks. You will regret it. 

 

Also, start talking to contractors about what brands they use, before you need them. People that deal with the stuff on a daily basis are far more reliable for opinions than reading reviews in a magazine, and they are generally pretty cool about you asking as long as you don't try to get a do it yourself lesson from them. If you are handy at all with stuff, put together a small toolbox with every day stuff you need for maintenance. Light bulbs, wall plates, GFI outlets, regular outlets, screwdrivers that actually fit the stuff in your house, paint brushes, plumbers putty, electrical tape, wire nuts, etc. If you keep all this stuff together, there isn't any searching for it when you need it. Label any special tools that come with stuff you buy for the house and put that in the box too (disposal wrenches, door handle wrenches, etc.) Get a couple extra heads for your sprinkler system if you have one in case the ones you have get discontinued. 

 

The biggest thing to remember is preventative maintenance. You can extend your life on stuff by half usually just by taking care of it as well as prevent huge problems down the road. One thing to consider is using a home inspector every few years to take a more in depth look. They aren't selling you any repair services so they don't have a reason to lie about what they find, and this can catch a small problem to fix for a couple hundred bucks vs thousands (this really applies to roofs). 

 

I've had to deal with a few home warranties. The biggest issue I've had is most have a 48 hour response time for service, and you don't get to choose the contractor. One of our clients had a warranty, and the company sent out one of the worst companies in our area, and there was nothing we could do to change the contractor. His $200 fix cost $1400 to the owner because the warranty covered his repair work, not any damage he caused to do the repair. Gotta read the fine print on those.

 

Lastly, water will destroy your home. Don't be afraid to get into your crawl spaces and check for water damage under your bathrooms. Pull down insulation and look for discoloration on your joists. You can see a slow leak from a wax ring there much earlier than a swelling floor. Climb in your attic and check for leaks around any vents or your chimney before it rots out your roof sheeting. If you see light, water may be able to get in. I set aside about 3 hours (I'm thorough) every 3 months just to do my own home inspection. It gets old, but I caught a cracked boot on our bathroom vent that way. 

 

Grats on your house. Enjoy owning your new home. 

[pstall]

Sinking cost fund for various house related things.

Dont get the high dollar air filters as it makes your system work harder.

Dont overdo projects in the hopes of value/price. It might make it harder to sell