Renting typically requires minimal effort, but as a homeowner you will invest blood, sweat and tears in your home. In fact, the mindset between you as a tenant and you as a landlord will vary significantly more than you probably expect.
Saving becomes a priority
You probably did a good job saving as a tenant, especially if you made every penny of your down payment. However, saving becomes one of your top priorities as a homeowner. You will always be thinking that an unexpected expense will surface and drain you. Whether you end up needing a new roof or desperately want a kitchen remodel, your savings account will pay off first.
Minor repairs become major
Almost everyone has neglected a minor rental repair. Whether your closet door fell out of the way or your kitchen faucet leaked all day, you were unable to schedule an appointment with the landlord. When minor repairs are needed in your own home, you should take care of them immediately. You could even immediately drive to the home improvement store.
Shopping has a new meaning
Shopping on a rainy day once meant spending hours at a mall or visiting antique stores in a nearby city. As a homeowner, retailers like Home Depot and Lowes become your favorite stores for a new credit card.
Community means something
There are many tenants who care about their community, but those who do not normally once they become homeowners. You want family businesses to be successful, so you go out of your way to support them. You are excited about opening a new factory because that means more job opportunities, which could result in an increase in property values. It becomes a vendor’s market when people move to the area for work purposes.
Your idea of fun changes
You probably never thought that power washing your siding or planting a garden would become your idea of fun, but you would rather spend time at home than go to the movies or pay a bill at the bar.
Buying a home has an impact on both your lifestyle and your overall mindset. Your priorities change, as do the ways you want to spend your time and hard-earned money. As you prepare to buy your new home, make sure you are ready for all that this decision entails.