After finally finding the perfect West Knoxville or Farragut home and sealing the deal with a fabulous offer, reality sets in, you will officially be a first time homeowner. Congratulations! Owning a home can be a great investment and can be a great experience. That is, until the furnace dies in the middle of winter or the roof starts leaking…
While not all travesties can be avoided in your years of owning a West Knoxville or Farragut home, there are some that can be avoided. Read on for some sage advice about owning your first home.
Most importantly, listen to the words of wisdom from those around you. You family, friend, your REALTOR®, your loan officer, if they’ve owned a home, listen to what they have to say. They’ve been there, what they are saying can be valuable information. Also, don’t be afraid to seek their advice.
Don’t forget that owning a home is more than you monthly mortgage payment. There is utilities, homeowner’s association dues, repairs, among other things that you need to be prepared for. On the flip side of that, owning a West Knoxville or Farragut home can come with many tax benefits, as well. So, be sure to consult with whoever does your taxes to see what you may qualify for as there are many expenses that can be written off.
As a homeowner, it is important to have an emergency fund for the unexpected. So when the roof leaks or the oven breaks, you’re not scrambling to find the funds to cover the cost of repairs. Be sure to have and stick to a monthly budget that allows you to put money away each month for the unexpected emergencies of owning a home.
Are you thinking about buying your first West Knoxville or Farragut home? Please let us know if there is anyway that Knoxville Home Team can assist you in your home search. You can contact Rick at 865-696-9002 or via email at [email protected]. Or, you can contact Kati at 865-392-5880 or via email at [email protected]. Also, be sure to check out our West Knoxville Home Search Page to see what homes are for sale in the area.