10 Things I Wish I Knew When I Bought My First Home

When you’re in the business of helping people make their dream of homeownership a reality, you frequently meet first-time homebuyers. You also learn that owning a home is much different than just living in one. Ownership brings questions, challenges, and a host of things that you might never learn until something goes wrong. I’ve gathered some of the advice and insights from people throughout Homes By Taber to develop this list of “10 things I wish I knew when I bought my first home.” I hope you find it useful!

1. Read the entire HOA documents. A homeowner’s association (HOA) can be a wonderful thing. The goal of an HOA is to protect the property value and the homeowners themselves. The HOA fee typically covers the cost of maintaining the common areas—the neighborhood park, clubhouse, pool, and entry, for example. Depending on the neighborhood, the HOA could place restrictions on the colors of homes (including the roof, doors, and trim), the number and types of pets you can own, your ability to place a shed in your yard, and the type of fencing you can install. If certain issues are a deal-breaker, learn the HOA rules before you close on the home.
2. Set aside just-in-case money. If you’re buying a resale home, prepare for the unexpected by establishing a fund for unexpected repairs. Even though you’ve had an inspection done, oversights happen. Unless you have a builder’s warranty or home warranty, you’ll have to cover the cost of any uninsured damage. Buying a new home from a reputable company with a reputable warranty department can help save on these unexpected expenses.
3. Follow a seasonal home maintenance checklist. Whether your home is new or a resale, follow a list of routine inspections to prevent small problems from growing into larger ones. For example, check your roof, clean your gutters, and have your chimney inspected every fall. Change your furnace filter at least twice a year—more often if you have a smoker or pets in the house. Have your dryer vent (not the lint trap) professionally cleaned once a year to remove clogs that are flammable and reduce your dryer’s efficiency and performance. Here’s a monthly home maintenance checklist to keep you on track.
4. Keep track of your appliances. When you move in, you should have documentation for every appliance—from the microwave to the water heater. Keep all the owner’s manuals together and make note of the age of each item, as well as the expected lifecycle so you know when you might need to prepare for replacement. Look at the estimated cost for replacement so you have a budget in mind. When buying a new home, register all appliances with the manufacturer to take advantage of all warranty benefits. If not, those expenses could come back on you.
5. Know your property. Do you know whether or not a tree in the corner of the yard belongs to you or your neighbor? Check your site survey to be absolutely clear of your lot’s boundaries. Also, find out where your water and sewage lines come and go. Do you know how to shut off the flow of water in an emergency? If you have a sprinkler system, do you know the zones and how to operate the timer? Do you know how to use the app that can control your whole sprinkler system? When you move in, take the time to familiarize yourself with your yard and your home’s exterior. Homes By Taber walks homebuyers through the home before closing to orient them with all the home’s functions.
6. Label the electrical box, pipe, and valves. Quite often, first-time homeowners don’t look at the circuit breakers until something goes wrong in the house. Before that happens, label every circuit on the board. Do the same for shut-off valves and pipes (incoming and outgoing).
7. Check your decks for moisture resistance. The decking on your outdoor living space should be specially treated to resist moisture, but the sealer doesn’t last forever. Check it in the spring by pouring a little water on the deck. If it beads up, surface protection is still working. If the water soaks in, you’ll need to reseal the surface.
8. Appliances should be cleaned on the inside, too. Did you know that particles can build up inside your garbage disposal? The result is a nasty smell or clogged drain. Prevent it by making ice cubes out of white vinegar. Put the frozen vinegar into the disposal and run it. The crushing cubes clean the blades and the vinegar removes any built-up scum. You should also do regular cleanings of your dishwasher, oven, and refrigerator.
9. Keep records. Whenever you repair or replace something in your home, keep the receipt. For every major purchase, keep a record. Make a video walk-through in your home and note valuable possessions, including artwork, rugs, collectibles, and jewelry. If you have the receipts from those purchases, record those as well. In the event of loss or damage, this step will make it easier to submit an insurance claim. In addition, you’ll have the documentation for your tax records—to deduct certain improvements and reduce capital gains taxes when you sell your home. It’s a good idea to scan receipts so you have a digital record as well as a paper trail.
10. Never make an impulsive decision. That color looked great in the paint store. Why is it so wrong in your living room? And why didn’t you measure your bedroom before you decided on that king-sized bedroom set? And who would have guessed that sofa couldn’t fit through the door? Before you invest your time and energy in making a change, think carefully. Take photos of pieces in the store. Bring measurements with you. If you’re afraid of missing out on a great deal, find out the return policy. Spend a few dollars on a paint sample before you buy a gallon (or more) of paint so you can see how the color will look on your walls with the different lighting shed throughout the day.

Homes By Taber is an Oklahoma City-based home builder and we guide our customers carefully through the process of buying and owning their new home. If your new home search brings you to this area, please browse our new home communities, floor plans, and selection of currently available quick move-in homes. We make homeownership easy!