Stressbusters For First Time Homebuyers

This morning, I was corresponding with a contributor for a major homesite this morning. The write is working on a story about what new home buyers could do to reduce their stress AFTER they purchased their home. I fell out of my chair when I saw her thoughts on what a ToDo list of after market stressbusters should include: Shop for an alarm system, a digital package, homeowners insurance and refinancing options.
I wondered out loud if she's ever actually bought a home.

I responded that her list of stressbusters would have a new homeowner ripping out their hair because their home likely wouldn't close! I pointed out that homeowners insurance has to be in place BEFORE a loan closes because without it, the loan won't close.

And as far as shopping for refinancing before the ink is dry on the original contract, I told her she could strike that from the list too. With the new fees tacked on to every closing, a new homeowner would be ill advised to refinance anytime in the near future. Even with a reduced interest rate, the mandatory fees are rolled back into the cost of the home and often the homeowner would be in no better or even worse shape than with the original loan. Homeowners should wait until they have equity built up before even considering this – and in most cases, that takes years.

As far as shopping for a digital package and a security system, well that depends, in most cases, on whether the buyer is purchasing a new home or a pre-existing home. If the buyer is purchased new construction or a pre-existing home. In new construction, decisions about security systems and digital packages typically have to be made shortly after the contract is signed. These systems are hardwired into the home just as the electrical system is.

If the buyer purchases a pre-existing home, their options are often limited to how the home is wired or how the home could be wired to accommodate what they want. They're also often limited by what services are available in the neighborhood. More times than not, I’ve seen these after market decisions INCREASE stress when the new homeowner finds out what’s involved to wire for digital and security and not always being able to get the services and service providers that they want.

So per the writer's original request, here are my stress busting tips for first time homebuyers are getting ready to walk into their new front door:

1)      The number one stresser is not having utilities turned on when you need them turned on. To avoid that, make a check list of utilities and arrange to have them turned on immediately upon your move in date. Most good realtors will remind homeowners to do this, but in the rush of everything, this doesn’t always get done. What adds to this stress is when utility providers can’t/won’t accommodate the new homeowner’s move in
schedule, especially at the last minute. Also schedule as many deliveries as possible on your move in date as well, especially if you can't take more than one or two days off from work for the move in. You'll want to get your new appliances and furniture in place as quickly as possible.

2)      What DIY upgrades do you want to make immediately? Paint? Install ceiling fans or new light fixtures? Change out or install built-in appliances? Make these changes BEFORE you move into the home or at least before you unpack. If you do want to install/upgrade a security system or a digital package, do it at this time as well. Get these projects done so they're not hanging over your head, and you can enjoy your home right away.

3)      Figure out your lawn care/landscape strategy. Are you going to do it yourself or hire it done? If you do it yourself, make decisions about the yard care tools you’ll need, lawnmower, edger and the like.  If you move in the winter, make your plans for spring. If you hire it out, research lawn care providers in your area. In this same vein, make sure the fence will hold your pet. If not, you’ll need to fix that immediately. Nothing is more stressful than a lost pet in a new neighborhood.

4)      Get to know your new neighborhood and neighbors. Find the nearest grocery store, gas station, school/childcare provider, vet and emergency medical provider. Touch base with the HOA and find out the
use rules for common areas. (If the home has an HOA)

I'm not sure that the writer appreciates my input since I haven't heard back from her, but I haven't seen her story posted either. I'm keeping my eye out for it. In the meantime, if you're a buyer, looking for your first home. Give me a shout. I'm here to guide you through the entire homebuying process!