Buying a house is expensive. If you’ve just closed on a house, use these budgeting tips to furnish your home and set yourself up for a secure future.
Shop Thrift Stores
It costs a lot of money to furnish your home, but you can save if you visit thrift shops and estate sales, or by shopping online through Facebook Marketplace.
Budget for Bills
It’s hard to know how much your bills will be after a move, since you don’t yet have a good idea of average costs. Monitor your bills for a 3 to 6 month period to get a good idea of what the costs might be. This will give you an average range, so you can factor your bills into your budget from here on out.
Save an Emergency Fund
Personal finance experts recommend having anywhere from 3 to 6 months’ worth of expenses in an emergency fund. This money can be used to cover unplanned expenses, like the cost of a new roof. A bigger, more expensive home will require more maintenance, thus you will want to save more. As you update your budget to reflect your new living expenses, calculate a reasonable amount that you can set aside toward your emergency fund for a secure future. The sooner you can save up the money, the sooner you’ll be protected from life’s emergencies.
Pay Your Mortgage on Time
Pay your mortgage on time every month. This will keep your credit score high, which has a range of other benefits. Paying your mortgage on time also keeps you in good standing with your mortgage lender. If you fall behind on your payments by 120 days, your lender can initiate foreclosure.
Keep up With Home Maintenance
Keeping up with home maintenance year after year is the best way to keep your home in good condition while avoiding the high costs that come with neglecting home systems. When you work on a few projects each year, you will be able to spread out the costs over time. You’ll also save money on each project by taking care of things when repairs are relatively minor, before home systems need to be replaced.
Brandstetter’s KangaRoof is here to help out with home maintenance tasks involving home siding, chimneys, roofs, skylights or gutters. To learn more about our services and how we can help, contact us today.