Facts about Owning a Home – First Time Buyers

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Owning your own home is very exciting; however, there is more involved than just paying a mortgage. This blog post is to inform first time home buyers of some important areas to protect their investment.

UPDATING YOUR HOME 

Updates fall into three general areas:

  1. Cosmetic updates to personalize your home, such as: paint, window treatments, and new landscaping. This is what makes the house your home.
  2. Maintenance updates, such as: replacing an outdated HVAC system, repairing the roof after a wind storm, correcting your grading around the home, or checking your gutter and sump pump conduit lines.  These items are often ignored until they become a problem.  It is far less expensive to be proactive, and fix these areas before they escalate.
  3. Remodeling, to keep your home up to date with changing trends and life styles.  Although these items are not required, they are important if you wish to maintain the value of your home.  When you go to sell your home, the new buyers will want an updated home.  The discount buyers expect on an outdated home is typically 2 ½ times the cost of the update itself.

 

TAXES AND INSURANCE 

Typically, your taxes and insurance are paid through your mortgage payment; but, you should not ignore them.  You should periodically check your insurance coverage.  Your insurance provider will not necessarily know if your home has appreciated significantly, or if you have increased the value through renovations or updates. You want to make sure you are property covered.  You also want to track your tax valuation. Your taxes are calculated on the value of your home, as determined by the county auditor. Amazingly, less than 3% of homeowners ever question the value.  Many homeowners never know they are over paying in taxes, because they never question the value.  For Franklin County, you can see my blog, https://blog.alfriendgroup.com/2017/09/19/answering-reappraisal-questions/  to understand how to appeal the value.

LANDSCAPING

Trees and bushes grow, and too many homeowners fail to keep them trimmed. Roots from large trees, close to your home can cause problems with the foundations. Trees and shrubs too close to the home also attract pest, such as insects, mice, ground hogs, and squirrels.  As the colder season arrives, these animals will attempt to find or create ways into your home.  As warmer weather arrives, they rarely leave.

BOTTOM LINE

This is your home, but it is also an investment.  Being proactive with just a little of your time and money will pay great dividends.

For more information on buying, selling, or investing in real estate, please contact Kyle Alfriend
Alfriend Real Estate Group
Re/Max Achievers

About The Alfriend Group

Kyle Alfriend has been selling and marketing homes for over 20 years, successfully selling and buying homes in a variety of market conditions. He has sold over 1,200 homes, totaling over $250 million in homes sales. In Dublin, he has sold more homes that anyone ever. He has represented the areas largest builders, built his own homes, and owns and manages several investment properties. He has been awarded the "Top 10 M.A.M.E. Award (Major Achievements in Marketing Excellence) by the building and Realtor associations every year since 1993. He believes that everyone deserves the very best in knowledge, experience, and integrity when buying or selling their home. The Alfriend Group was started 5 years ago as a real estate team of professionals, specializing in buying/selling homes, property management, and real estate investments. For more information, call us today at (614) 395-1776.

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