Joyful Homeownership

Photo by Andy Dean Photography via Shutterstock

The phrase “the joys of homeownership” is a staple in most households. But sometimes, you think you hear a snicker behind the smile. Now that you’re finally ready to become an owner, you might be wondering if that term is truthful or sarcastic. The answer is “Both.”

How can it be both?

No doubt about it, buying a home and making it yours is a fantastic achievement. Taking on part of the American dream builds your confidence, creates community stability and sets your household’s future on a positive trajectory. However, a home can also become an albatross. That could be what happens when you blindly purchase a home without an upfront and thorough inspection. Even a home that a relative or friend sells to you needs a professional home inspector to give you a baseline of what maintenance and repairs it may need.

How do you stay "joyful?"

• Insist on a home inspection. As mentioned earlier, even if someone you know sells you the home, paying for an inspector to report on what’s up with the home’s major systems means you can plan for your future. If the inspection says the roof needs replacing in five years, you can factor that into your budget and not be surprised or upset when, in five years, you need a new roof.
• Ask for a warranty. As part of the negotiations, have your agent request a home warranty for at least a year. You may even opt for renewal after that year. Get a warranty that covers problems with major systems such as the electrical panel and wiring, plumbing, water heater, HVAC and sprinkler systems. The cost to the seller is typically low, and helps maintain peace of mind when things start to get a little worn.
• Stay on top of maintenance. If you’re handy, this is your moment to shine. Get a list of the most common maintenance issues in a home and schedule it into your free time. These include monitoring for water leaks, changing air conditioning and furnace filters and clearing out the gutters and downspouts before the winter weather wreaks havoc. If you’re not the do-it-yourself type, then ask your agent to recommend someone to keep an eye on things for you so that they don’t turn into major problems.

Is homeownership a reason for joy? Of course. But don’t let unexpected expenses and maintenance issues dim your happiness. Ask your agent about home inspections, warranties and repair contractor referrals.