5 things to know after buying a house

My wife Holly and I bought a new house a few months ago. While Money Under 30’s First Time Home Buying Guide helped us polish the buying process, there were some surprises after closing and during the first few weeks of moving in.

So what were those surprises? Which home renovation do you prefer? Where Generation Z homeowners are best off saving on tools and supplies. What’s the “magic phrase” for lowering your utility bills?

Let’s take a look at five things to know after buying a home!

1. Be sure to include the utility installation fee in your budget.

If you’ve done your research on homeownership costs, you’ve probably already included utilities in your monthly budget. Usually they may include:

• Gas.
• Strength.
• Water.
• sewerage.
• Garbage and recycling (sometimes separate suppliers).
• Internet.
• Cable.
• And more.

However, what might take you by surprise is that many of these utility providers – even the city – will have utilities. tune fees. These can range from ~$20 to $120 per provider per account, so they can add up quickly.

In addition to the initial setup fee, sometimes providers also require you to pay upfront for the first three to six months of service. My trash and recycling supplier did this – so while the monthly rate was only $40, my first bill was $180: four months plus their $20 setup fee.

In our case, our monthly utility budget was around $400, but we had to pay around $1,000 within a month of moving in to cover installation upfront fees, several months’ advance payments, etc.

Moral of the story is to be prepared for the factor all part of the utility bill (not just the monthly fee) in your budget.

Luckily, most third-party utility providers (read: non-city) are actually open to negotiation. This is especially true if they don’t have a monopoly on delivering that particular utility to your address.

That’s why I recommend calling them and asking these two questions:

1. “What promotions are you running right now that could hurt my profits?”
2. Thanks for the quote. Before I call [your chief competitor in the area]What is your minimum offer?

These two questions end up lowering my final cost about 60% of the time. It also works when buying a car, buying car insurance, and just about everything else that can be negotiated.

2. Home repair sorting and home improvement at the table

Before you buy a house, you almost certainly did a home inspection. This means that at some point during the closing time, the inspector emailed you a PDF report that looks something like this.

I’m sure things are already getting a little crazy with the move, but if you have the time and thoughts, now is the perfect time to start planning your recommended renovations.

Generally speaking, it’s a good idea to have contractors come and go before you move in completely, as home renovations tend to create a lot of noise and clutter. In addition, it will save you the trouble of moving furniture out of the way or fencing off parts of the house.

That being said, it’s not the end of the world if you have to wait until you’re fully relocated to schedule contractors. You may also find that some contractors are not available even for several months. But the sooner the better.

Now let’s get back to your home inspection report. Which repair do you prefer?

The easiest answer is to call your home inspector and ask. After all, they saw firsthand where your home needs help the most.

But in general, repairs that prevent much more serious repairs, such as patching the roof, sealing basement walls, and sealing cracks in the foundation, are top priorities. Anything that keeps moisture in the house should be done immediately. Your HVAC also falls into this category as the circulating air prevents mold and mildew from forming.

Aesthetic things, like repainting the living room or replacing 70s motel tiles in the bathroom, can be done second-hand when time and budget allow.

Finally, with home improvement, like a new garage floor or a back deck, you can and should wait a few months.

My REALTOR gave me some interesting advice: before investing in any expensive, non-essential home improvement projects (new floors, new showers, etc.), try living in the house for six months first. You’ll be surprised at what you can actually live with and save $1,000 in the process.

Read more: How much should you set aside for home maintenance?

3. Find available tools and learn how to do something with your own hands

One of the most rewarding aspects of new homeownership is completing your own small DIY home renovation/improvement projects. Not only is it fun and enjoyable, but it can save you time and money spent on hiring contractors.

For example, I was one click away from hiring someone to install some TV brackets in my new home. Then, at the last second, I switched to YouTube and taught myself instead.

All I needed was a $20 stud finder and I ended up saving $400+ that I would have spent hiring a TV installation team. Plus I got a new (niche) skill for life.

Landscaping is another example. I don’t know Jack Diddy about grass or gardening or anything like that. But after spending another hour on YouTube/Reddit, I got all the basic knowledge needed to plant rose bushes.

They are here!

A few weeks later, Holly’s surprise with a rose from our own bush seemed like a milestone that I didn’t even know existed. They’re not perfect, but they’re better than your average pile of dirt!

Now, while DIY around the house is great, it does require spending money on tools. You will also want to invest in good tools, as cheap or used tools can be a big security risk.

Luckily, Gen Zers can buy their first drills, socket wrenches, shovels, and more. This is what my carpenter friend Zach calls his personal Disneyland: Harbor Freight.

Harbor Freight is like Aldi among tools. They sell generic high quality products for half or a third of what Home Depot charges. You can get everything a new homeowner needs — a basic tool kit, utility knife, flashlight, level, drill, wire cutters, stud finder, extension cords, and more — for less than $200.

I’m not paid to say this; I just think every Gen Z homeowner should know about Harbor Freight.

4. Update your monthly budget based on new expenses.

After the move, the dust settles and you’ll want to spend 30 minutes resetting your monthly budget based on the new overheads.

There’s a chance it might even be an enjoyable process, as your new mortgage might be cheaper than your rent.

Sure, you’ll have to budget for repairs and homeowner’s insurance, but even so…with these crazy rental prices, you can save money by owning your own property.

If you’ve never set a budget before, you don’t have to worry about maintaining a tedious spreadsheet or paying a monthly fee for a fancy app. Many people stick to a simple, perpetual 50-30-20 budget their entire lives, and it serves them well.

Or, if you need app help, there are plenty of free options. Check out our list of the best budgeting apps to keep your finances in check. I am personally a fan of Mint – check out our full review.

5. Less is more – feel free to donate things

Finally, one of my biggest mistakes was moving too many things from the old location to the new one. I brought chairs, old TV cabinets, even a whole dinner set into the new house, thinking: “I’ll find a place for this somewhere …”

Nope. Never did. So I was left with the same piles of rubbish and disused old furniture.

This made it much harder for us to adjust to our new home, both physically and mentally. Every time I passed a corner full of old chairs stacked on top of each other and that half-broken TV stand, it reminded me of the work I had left to do.

In short, I should have done Marie Kondo much earlier.

If it’s not too late, I recommend making two stops on your truck: one to a charity center, the other to a new home. Not only is it the right thing to clean and donate your old furniture, but it’s also a good tax write-off.

Now while Goodwill is great and they tend to take anything, I would suggest you consider some alternatives in your area. Nursing homes, nursing homes and women’s shelters also need good furniture. What’s more, many of these small nonprofits will even do pickup trucks so you don’t have to invest in renting another truck.

bottom line

Holly and I only moved in a few months ago, so I’m still learning as I go. But I found that these simple tips, from sorting through home renovations to budgeting for installation contingencies, would make my experience a little smoother. I sincerely hope they help you on your own journey as a new homeowner.

Featured Image: Michael Dechev/Shutterstock.com

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