You're elated to be a new homeowner, but know you have a lot to get used to as you transition from renting to owning. The first year in your new house could prove more challenging than you expect, so arm yourself with this survival guide checklist from our real estate experts, to prepare for inevitable homeowner hiccups!
- Set Up All Utilities
Depending on your prior living arrangement, your landlord may have handled setting up and paying for utilities. As a homeowner, that all falls on you. Contact your local gas, electric and phone companies to set up your desired utility services. Do not forget to set up your sewer, water, recycling and trash too.
Tip: Depending on the service and provider, you could save money by bundling some services.
- Start an Emergency Fund
Rather than wait to respond to a major or minor repair, get ahead of a potential disaster by putting money into an emergency household fund now. Even if you purchased a brand-new home, something's going to break or break down on you unexpectedly. If you incur a major repair bill, you'll be glad to have a rainy-day fund.
Tip: Make it a habit to contribute to your emergency fund regularly, preferably in an interest-bearing account.
- Double-Check Your Address
As a homeowner, it's vital that all service providers have your proper address. If they have the wrong zip code or house number, they may shut off your electricity or water at the most inopportune time, such as while you're making dinner or taking a shower.
- Know Where Everything Is
Do you know where to find your property's water shut-off valve? How do you shut off the gas in your home? During an emergency, you don't have time to scramble around your property in a frantic search. Shutting things off as quickly as possible may become vital to avoiding damage and minimizing expenses.
- Consider Utility Provider Budget Plans
You do not want to experience the sticker shock that comes from getting the first water or electricity bill in your new home. When you set up your utilities, ask providers about budget plans. That way, you get an estimate of your utility usage for the entire year and break all your payments down into equal payments. Avoiding fluctuations in utility billing may go a long way in protecting your financial health the first year in your new residence.
Looking To Buy A Home? Work with Chapel Hill’s Top Team!
Chapel Hill Realty Group offers unparalleled service to ALL clients in the Chapel Hill real estate market. Whether you are considering buying a home, selling a home or both, we know this area inside and out. Call 919-740-0884 to explore your options today!