19 Things No One Tells You About Owning a Home

Hold Off on Making Big Changes

Live in your home for a year to 18 months before undertaking any major renovations, such as additions or knocking down walls. That way you’ll know what you really want to change, and what aspects end up growing into your favor.

But, don’t hold off on small tasks, like installing new smoke and carbon monoxide detectors, giving your home a deep clean to get rid of potential allergens and pests and changing the locks.

“Most folks assume the keys they get at closing are the only ones out there, but that’s rarely the case,” says broker Jon Wade.  “There could be extra copies floating around with contractors, pet sitters or even old roommates. It’s a quick fix that gives you peace of mind from day one.”

Consider Future Development

When you have a specific house in mind, think about potential developments. For example, if the home is near a busy road, will there be expansion in the near future? If there is a lot of open space around the home, will more homes be built in the area soon? If there are several homes for sale in the neighborhood, are they selling quickly and who’s moving in? It may be difficult to find concrete information about future developments. Read the city council, county commissioners and planning and zoning agendas and minutes for the location you’re looking at to get an idea. Also, keep in mind the potential resale value of your future home because no one knows what the future holds, and you may need to sell earlier than you imagined. Find out if your state has the hottest real estate market.

Buyer’s Remorse Is Inevitable

There’s almost no way for a new homeowner to completely avoid buyer’s remorse. The little pitfalls that come with buying a home can be stressful and drive you crazy.

“One thing that still catches people off guard is what gets taken out of the house when the sellers leave,” says Wade. “Things like fridges, washers, dryers or even curtains are suddenly gone, because they weren’t part of the deal.” Especially with appliances and curtains, that can be a costly inconvenience when your finances are already stretched thin.

The good news is that it’s all worth it! For all of its challenges, home ownership can be mentally and financially rewarding.

Schools Are Important

Even if you don’t have kids yet or don’t plan on having kids ever, schools in the neighborhood are important to consider when buying a home. A good school district can help maintain home values and boost resale opportunities. It usually brings with it higher taxes, which go partially to the school district. Do your research to determine if buying in a good school district is worth it for your household.

Research HOAs

Homeowner Associations (HOAs) govern almost 20% of American residences. While most homeowner associations are perfectly fine, there are a minority that give the organizations a bad name. Look for negative coverage in the local press, and if possible, ask a sampling of neighbors to find out their impressions of the organization. Should anything raise red flags, give some serious thought to what you might be committing to.

How To Live in a Construction Zone

This is a problem especially common for members of the DIY community. No matter how much experience you have working on small projects or working on other people’s homes, the first time you begin a major project on your own home, you’ll have to deal with sleeping and eating in a construction zone. You may think this is no big deal, but everyone has their own line where the mess is “too much”. And if you have a spouse, then it’s pretty much a guarantee that your line is different from theirs!

Don’t Make Mountains Out of Mole Hills

A house is a major purchase, and any residential building is filled with hundreds of spots where something might have a less-than-perfect finish. Sooner or later, you’re going to find an issue that has slipped past you, your Realtor and your home inspector. If your first reaction is to panic, don’t worry: that’s a perfectly natural reaction. But take a deep breath, step back and really examine the issue. Is the issue as serious as the DIY nightmares discussed earlier? Or is it as minor as a stuck deadbolt?

“New homeowners are often surprised by how many small costs show up right away,” says real estate attorney William London. “Gutter cleaning, yard maintenance, pest control and basic repairs add up fast, and emergency calls aren’t cheap.”

So, it’s understandable (and maybe unavoidable) to be worried about your new home, and most homeowners will have an “oh, no!” moment or two after moving in. The trick is to have a reaction that’s in proportion to the problem.

Gutters Need Regular Cleaning

Clogged gutters can damage property no matter the season since they cannot drain properly. In the spring, clean out all the leaves and other debris that fell during the winter and early spring. Clean them once again in the fall.

And speaking of maintenance, it can really help to make a simple maintenance plan. “Home ownership means constant upkeep,” says Wade. “Cleaning the gutters, winterizing the house and dealing with trash, repairs, small leaks, you name it — all of this used to be someone else’s problem, and now it’s yours. Remember, houses need regular care, just like cars, or small issues can turn into big repairs.”

Check Crawlspaces and the Attic

It’s good to familiarize yourself with the farthest corners of your home. Check for leaks, bugs, mold and other issues that you should address sooner rather than later. If your crawlspace doesn’t have a vapor barrier, consider installing one.

Caulk Your Windows

Leaky windows are one of the biggest sources of energy loss in a typical home. If you don’t want to cover your entire window, a quick, low-cost solution is to seal the gaps with removable caulk. A $4.50 tube seals five 3 x 5-ft. windows.

You May Grow Out of Your Home Quickly

Nearly 20 percent of millennial buyers and 20 percent of Generation X buyers said they regretted they didn’t buy a bigger house in the NerdWallet survey.

On the other hand, while a big yard can seem like a dream at first, it can quickly bog down weekends and create extra expenses, says Wade. “Replacing dead plants, fixing sprinkler systems or just mowing regularly takes time and money,” he says. “Many buyers come from condos or rentals where someone else handled all of that, so they don’t realize how much time goes into simply keeping things looking decent.”

Wonky Wiring Could Cost You

Homes built in the mid-‘60s or ‘70s might have aluminum wiring, and if so, it should be determined if everything has been retrofitted properly. If it hasn’t, it could be a fire hazard and wiring replacement can run thousands of dollars.

Beware of Roof Leaks

Home inspectors can find many things wrong with a house, but they can’t catch everything all the time. Most home inspectors won’t climb on a roof to inspect, so it’s important to have things they won’t always check thoroughly viewed by an expert.

Home inspectors typically don’t inspect underground pipes, septic tanks or wells, all of which are particularly expensive to repair or replace. You can protect yourself by finding a home inspector who carries “Errors and Omissions” coverage.

Weekends Become Housework Days

That lawn won’t mow itself, and those branches will be trouble if you don’t trim them. Your neighbors are eyeing your creaky fence, and the bedroom paint could really use a touch-up.

“Some weeks it’s mowing the lawn and cleaning the deck, other weeks it’s fixing a leak or calling a repair tech,” says Wade. “Most first-time buyers don’t factor in this ongoing time drain when they picture owning a home.”

YouTube Isn’t Omniscient

YouTube is great at providing a look at how things should appear, but it’s not so great at wading into the details. Your one repair task could turn out to be totally different by the time you escape from the rabbit hole of how-to videos. Sometimes, it’s OK to just call in a pro.

You Can’t Have an Empty House

You weren’t done moving when you brought in all the stuff from your old apartment. Now you’ve got more than one bedroom, maybe a basement, too. All areas that will have to be furnished in some manner, lest you never plan on entertaining. Check out some tips for squeezing everyone around the TV next time there is a big game.

Feel Free to Paint

It might be an adjustment going from seeing similarly colored walls in every apartment you ever lived to being able to choose any conceivable color in your own home. Well, maybe not every color, after all, you want it to still be fashionable.

Scratches, Dings and Marks Will Infuriate You

Your first car was likely precious to you, and you went out of your way to protect the paint job. Well, owning a home will trigger some of those feelings all over again. But face it, things are going to get dinged up, and you’re just going to have to fix them.

It’ll Take Some Getting Used To

Your first house will not feel like home right away. It will take a few months before you’re all settled in, the place is furnished to your liking, and all the projects you envisioned are completed. But before you know it, you’ll be looking forward to home, sweet home.

FAQs

How much time does home maintenance generally take?

It depends on the size and age of the home, but expect to spend at least a few hours a week on it.“Keep in mind that home maintenance for some can take away from their job and cost money, so at times its best to hire a handyman,” says Lichtenstein.

About the Experts

• Jon Wade is a real estate expert, resort market professional and Broker Owner at The Steamboat Group, a family-owned real estate firm in Colorado. He has been working in the industry since 2005.
• Jeff Lichtenstein is CEO and broker at Echo Fine Properties in Fort Lauderdale, and has 25 years of experience in the real estate industry.
• William London is a California real estate attorney at Kimura London & White, helping first-time homebuyers navigate contracts, disclosures and inspections. He is also a recipient of “Lawyers of Distinction” and “America’s Top 50 Lawyers” awards.
• Alexei Morgado is a realtor in Florida, and CEO and Founder of Lexawise Real Estate Exam Preparation.