If you’ve just bought your very first home, you may be noticing there’s a bit of a learning curve….learning how to repair and maintain it, learning how to budget for it, etc. There are a few important things that you’ll find you need right way and here are a few:
A Toolkit. This is pretty obvious but if you’re new to homeownership it might not be. You never know when you’ll need a hammer, screwdriver, or a wrench for tightening a washer on a leaky faucet. This does not have to be a major expense. You can purchase basic toolkits at most hardware stores for as low as $20. It all depends on how expensive and expansive you want your tool set to be and how handy you actually are.
Willingness to Learn How to Make Basic Repairs. You are not going to want to spend the money or have the hassle of hiring a repairman every time something breaks in your house. While some things may require an expert there are many repairs that are fairly simple. Thank goodness for the internet because there are a ton of ‘how-to’ videos on line to help you fix that leaky faucet or unclogg that drain.
Start Saving for Repairs and Maintenance. Some experts recommend saving about 1% of your home’s value over a year’s time. Set money aside monthly in a savings account to be used specifically for home maintenance and repairs. Saving money is always a good idea anyway and this nest egg will give you a little peace of mind.