Friday December 27, 2019
You have just made a huge investment by purchasing your first home. Like all investments, it must be preserved to keep it from losing value. While you may be tempted to immediately splurge on home décor, the first thing to do is set up a budget to include utilities, insurance and property taxes. Don’t forget to include routine home maintenance, both inside and out, that you didn’t have to worry about as a renter.
Regular Maintenance Items
One thing new homeowners, who were once renters, overlook is that a home must be regularly maintained and cared for. A few important things that should be consistently checked for needed repairs to keep you and your family comfortable and to avoid expensive repairs down the road include:
- Change HVAC filters. How often this will need to be done will be listed in the documents and any user manuals that came with your system.
- Clean the gutters. Faulty and clogged gutters cause water damage to the foundation, which is very expensive to repair.
- Winterize plumbing. Although Savannah’s weather is fairly mild throughout the year, you may live in an area where freezing pipes are a concern. If so, wrap pipes in unheated spaces with foam insulation or heat tape to keep them from bursting from water that freezes and expands in the frozen pipes.
Before you tackle any renovation or repair, make a critical assessment of your DIY talents. If you have any insecurities about your abilities to get the task done safely and correctly, call a professional. This can save you both valuable time and money, and can minimize frustration in the end.
Tax Return Help
As a new homeowner, it’s a good idea to hire a tax expert, at least for the first year. This will ensure you are paying the required amounts and, more importantly, that you are getting all the deductions and exemptions you are entitled to. You can use a copy of the first-year final tax return as a template to file subsequent years’ taxes and may not need to hire an accountant for future years. It is also a good idea to save all home-improvement receipts, as they may help reduce your tax liability when you sell your house.
If you’re still searching for your first home, consider one of the well- built, attractive and family-friendly communities of Landmark 24 Homes. Landmark 24 communities offer a wide variety of home models and floor plans in South Carolina and Georgia.