Advice

5 Must-Haves for New Homeowners

Being a new homeowner can seem a little daunting, especially if you were previously a renter. With a new home comes a lot of new responsibilities, and it can be difficult to know what to expect. While you might not be able to anticipate everything you’ll ever need for your home, there are a handful of things that you should start with.

Here are 5 things that every new homeowner should have:

  • An emergency fund. Starting an emergency fund after you move in will be of great help if you happen to be one of the 75% of homeowners who end up making an unexpected major repair within the first year of owning their home. Put a little away every month and only use it for emergencies.
  • An emergency kit. You never know when an emergency is going to happen, but you can try to be prepared in case one does. Make a kit composed of first aid supplies, water bottles, flashlights, batteries, and anything else you might need in the event of a major emergency.
  • A toolbox with the essentials. Now that you’re a homeowner, you’re going to be responsible for making your own repairs. At the very least, make sure that you have a hammer, screwdrivers, nails and screws, a level, and a drill. They’ll all come in handy more that you think.
  • The number for a handyman. Sometimes you’ll run into a repair that you can’t tackle yourself. Have the number for a good handyman ready for when that happens.
  • Thorough records. Now that you own your own home, keeping track of repairs and problems is essential. Find a place to keep organized records of any work you’ve had done so that you can easily access it if you need it. Good records will also come in handy during tax time if you’re eligible for any deductions.
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