Tips For New Homeowners

Dated: 03/19/2014

Views: 3501

Many homeowners rush to personalize a home they just purchased with new furniture, new appliances and home improvements. Please don’t go into more debt trying to improve everything all at once. You need to remember you now have a responsibility to keep up with your new mortgage payments.

Make a plan for your wish list items and budget for it, and then take some time to adjust to the expenses of new home ownership and rebuild your savings first. All those items on your wish list will still be available for you when you can more comfortably afford them.

Then when you have rebuilt your savings, don't try to save money by making improvements and repairs yourself that you aren't qualified to do. This may seem to contradict the first point, but your home is both the place where you live and an investment, and it deserves the same level of care and attention you would give to anything else you value highly, so hire a professional.

 Finally, hire an accountant to make sure you complete your return correctly and maximize your refund. Home ownership significantly changes most people's tax situations and the deductions they are eligible to claim. Just getting your taxes professionally done for one year can help to create a template you can use in the future if you wish to continue doing the taxes yourself.
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Carolina International Group

Anna and Fred Carney are the Carolina International Group at Jackson Stanley, REALTORS using their multilingual capabilities and excellent interpretation skills they bring clients from around the worl....

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