Things To Expect As A New Homeowner

Roseville Homes For Sale

If you’re a new homeowner there might be some new things you may have not considered for responsibilities. As a renter a lot of these things likely fell under your landlord’s responsibilities. As a homeowner now, it’s important you don’t overlook these items that could hurt your investment.

Mortgage Payment

As a homeowner, you now have a mortgage payment rather than rent. Making sure you are to date on payments and are paying your mortgage on time is essential in keeping your bank happy with you as a borrower and keeping ownership of your home.

Property Taxes

Your property taxes may have been set-up in an impound account with your mortgage; otherwise, it is your responsibility to make sure that your property tax bill is being paid. Failure to do so can result in a lien on title. Oftentimes you will receive a supplemental tax bill after the purchase of your property. You can always check with your lender to ensure there are enough funds in your impound account to cover this or, you will have to pay this amount to bring your property taxes to the current adjustment. This is a one-time occurrence.

Utility Bills

Now that you own your own property you will need to have your utility bills registered in your name for water, gas, electric as well as things like trash. Your landlord may have done some of this before for you. It’s important and nice to keep a file for each of your service providers so that you can track your expenses and see how much utilities you are using throughout the year.

Maintenance + Repairs

With homeownership comes home maintenance. This is the one spot most homeowners overlook. Keeping your gutters cleaned before Winter rains will ensure standing water isn’t in your gutters. Having your HVAC unit maintained on a regular basis and keeping track of any necessary pest work are all things you will want to stay on top of to ensure your investment is always functioning it’s best and to prevent large repairs in the future. One thing a lot of homebuyers often overlook is making repairs that were not taken care of during escrow, but that came up on a home inspection report. I suggest taking care of these items as soon as possible after close of escrow.

Are you a homeowner already? What things do you think were most overlooked when you first became one?