Owning a very first home is surely a pleasant experience for everyone, but we must be mindful on how we use our hard-earned money. There are a lot of things that needs to be taken care of once you have your own house, and some of them is not even that necessary for daily living. Here are some tips taken from Realtor to tighten up your budget once you buy your new comfort zone.
Know the kind of home you need.
The most common mistake of first time buyers of property is that they succumb to the norm 'the bigger, the better.' In buying your new home, you must consider things like how many rooms you need, or how much space is really necessary for your lifestyle. Having a high pre-approved purchase price doesn't necessary mean that you should go all out.
Andrew Gipner, a financial adviser at Longview Financial Advisors, said that: "The house that you can afford with the money you're lent can make the budget go out of whack."
You can also consider not getting a formal dining hall because it might be a total waste of space, according to Noelle Hans-Daniels, a Sotheby's Realtor. "You don't use the dining room nearly as often as you think," said Daniels.
You can put off your lawn for the meantime.
Every new homeowner has this urge to fix up their lawn as soon as they move in. There are far more important things you need to fix inside your home, like your furniture and appliances. You can put off your dream of having a cool outdoor pond or an exquisite barbecue party, for the meantime.
If you don't want your front lawn to look dire in the eyes of your neighbor, consider planning out your budget with a landscape contractor and do it in phases and not all at once.
Avoid buying things to fill up space.
Some homebuyers have this mentality when they move in to their new home that they have so much space to fill up. This kind of homeowners often end up buying things that are not really necessary, and put a hole in their budget. You must also avoid hoarding stuff at all costs. Having a spacious home is better than having a home littered with stuff you don't really need.
