Take a breath… you did it. You’re officially a new homeowner! Now that you’re a pro in the homebuying game, it’s time to become a pro at homeowning.

Take a breath… you did it. You’re officially a new homeowner! Now that you’re a pro in the homebuying game, it’s time to become a pro at homeowning. The learning curves will ensue, but with a little preparation and research, you can be ready for any storm (literally or figuratively) that comes your way.

According to the National Association of REALTORS^®, first-time homebuyers accounted for 32% of all buyers in the U.S. in 2023. Being a new homeowner can be overwhelming. There are many moving parts and all kinds of things to learn about home maintenance. Fortunately, there are several things that can be done to make the transition into homeownership a smooth one. Here are three essential steps to becoming a prepared and informed homeowner:

1. Get familiar with your home. All homes require regular maintenance and repairs. Familiarizing yourself with things like utility systems and basic upkeep can potentially save “future you” money, stress, and time. Some routine maintenance items include changing air filters, replacing the water filter (if applicable), cleaning the gutters, testing smoke and carbon monoxide detectors, and cleaning the oven. Preventative maintenance on these items can extend their life and help avoid potential breakdowns or damage resulting from lack of upkeep.
   
   It is also beneficial to ask if the home’s sellers have a list of contractors they’ve used who might be familiar with the house and its specific needs. Knowing the home’s maintenance history is very helpful when the time comes that you will inevitably need to reach out to a specialist for repairs on things like plumbing or the HVAC system. For additional information on the history of your home, getting to know your neighbors who have spent time in and around your home may provide clarification for questions you have – and it doesn’t hurt to have a nearby friend to run to when you need to borrow a cup of flour or a ladder!
    
2. Take time making your home your own. After buying a home, the first instinct is often to make your home your own – which typically means changing everything from the wall colors to the flowers in the yard. However, budgeting and planning out such projects before jumping into things quickly gives the homeowner a better idea of what and when they can be done – and helps prioritize the workload and associated costs. It is also important to have a plan (and money set aside) for rainy day situations and long-term maintenance. And, when you complete projects, be sure to keep receipts and records to show the increased value added to your home.  
    
3. Update your important information. A brand-new address is very exciting, but make sure you officially change your address with the United States Postal Service. It is additionally important to change locks, garage codes, and security codes in any newly purchased home to ensure safety and peace of mind. For tax purposes, keep all documentation and records about your house, such as closing paperwork, home improvement invoices and receipts, and your annual mortgage statement. Lastly, it is vital for a new homeowner to have proper home insurance coverage for when the unexpected happens. For full coverage and alleviated stress when filing a claim, it is important to create a home inventory. And if you find yourself needing to make an insurance claim for your home, read our Understanding Your Homeowners Insurance Claim article for more helpful information.

Need insurance coverage for your new home? Call your local KFB Insurance agent today.