6 Tips to Be a Responsible Homeowner

Written by Posted On Monday, 20 April 2020 20:20

Being a homeowner is a vastly different experience than renting. There are certain responsibilities you need to stay up on in order to make sure your big investment remains valuable. Use the following tips to help take care of your home.

Properly Insure Your Home

You never know when disaster might hit. Insuring your property protects you against all types of situations, such as:

  • Theft
  • Hurricanes
  • Floods
  • High winds
  • Property title issues

Start an Emergency Fund

You might look at an emergency fund as another form of insurance protection. There are several potential circumstances that require extra cash on hand. These include:

  • Remodeling
  • Unexpected repairs
  • Unemployment
  • Disability
  • Illness
  • Insurance deductibles

The last thing you want to do is fail to have enough capital on hand for emergencies. Cash isn’t the only potential source for emergency funds. Available credit on credit cards is good to have, too. That’s why you should work hard to build credit fast.

Pay the Property Taxes

Don’t let your property taxes go unpaid. Allowing property tax payments to become late will start a process where interest is tacked on to the regular amount due. Worse, your local government entity can step in and place a lien on the home if payments go unpaid for too long.

Pay All Bills on Time

Make sure you stay on top of all bills so that you have the electricity, water and other important utilities needed to live well. You must pay the following the bills on time or risk losing access to vital services.

  • Water bill
  • Power bill
  • Gas bill

Pay the mortgage on time so you don’t see mortgage fees add up. There are also entertainment bills to consider, such as cell phone, cable or movie app fees. One way to stay ahead of the game is to use a software program that helps you keep track of all your bills. Set up automatic payments so you can't accidentally forget to pay something.

Maintain the House Well

There are many maintenance requirements when owning a home. Landscaping is important. This is especially true if you want to add to the value of your home. There may come a day when you need to sell. Maintain the home’s curb appeal by keeping the grass green. Edge the sidewalks, driveway and walkway. Add colorful flowers and shrubs. Trim the trees. Paint the front door. Add a decorative garage door.

Maintain the important systems of the house, such as the HVAC system, plumbing and wiring. Fix water leaks right away. Otherwise, you run the risk of mold or structural damage. Get the roof inspected annually. Do you see flickering lights or feel hot outlets? Get them fixed before a fire has the chance to erupt. Get the water heater, furnace and air conditioner serviced regularly.

Protect Important Paperwork

Consider buying a safe and putting all your important papers into it. This would include:

  • Bank paperwork
  • Mortgage documents
  • Receipts
  • Insurance documents

Follow these tips and your homeowner experience will be a positive one.

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