Buy a House Fast

As a homeowner who just made one of the most expensive purchases in your life, you will be disappointed to know that you are pretty much on your own in meeting the challenges you face.  If a major system goes wrong, you may have recourse, especially if you have a homeowner’s warranty, but that’s only one of the challenges.

When you rented, whether the light in the hall went out or the furnace died, you called the landlord (You may have even muttered that the problem wouldn’t have happened if he had only done some preventative maintenance).  Now, you need to fix what’s broken and plan ahead.  Aside from anticipating possible repairs, you need to schedule time to mow the lawn, shovel the walks in the winter, and clean the gutters.  If you don’t have the time, money, or interest to do these things or hire them out, then perhaps a condo would have been a better choice for you.

If you are like most homeowners, you will want to make a million changes in your new home to make it yours.  These projects range from painting to an addition and everything in between.  If you are qualified to do these things, great. You can save some money.  If not, depending on how much is involved, you can learn to do many projects.  For major projects involving plumbing, electrical, or major remodels, you are better off hiring a licensed contractor.  It’s safer, often cheaper, and more likely to increase resale later in comparison to an amateur job.

You probably had to get homeowner’s insurance when you got your mortgage, but buying a home is a good time to reassess all of your insurance. The coverage on the home itself and on your possessions should include replacement value if you can get it, and should have high liability limits that can cover you if some litigation-happy person slips on your porch or is bitten by your dog.  You should also consider whether you have enough life and disability insurance to protect your partner and children in case of your death or illness or an accident that could limit your ability to work.  Even your car insurance deserves a look – minimum state limits won’t protect you enough if you are sued.

When you buy a home, your days of the form 1040EZ are probably over.  There are many deductions you can take as a homeowner, especially the first year; for other things, like improvements, there is no deduction until you sell.  Even if you usually do your taxes yourself, you might want to use a professional tax preparer the first year to make sure you take the deductions you are entitled to without over doing it. Make sure to keep all your receipts on anything you do in the house so you can take the proper credit later.

Buying a home can be daunting experience but at Express Realty Services, we soften the blow.  We don’t take the money and run after you get your keys.  We help you make the transition from renter to homeowner.  Check out our free Homebuyer’s Guide today.  If you are looking for a great home in DC, Maryland, or Virginia, we can offer you beautiful homes at a reasonable price.  Many are renovated and remodeled homes acquired by our sister company Express Homebuyers.com.