Transitioning from a renter’s way of living to homeownership can be a gradual, taxing process. You’re in the cycle of planting new roots, starting a new beginning, and facing new challenges leading up to the closing deal. Nevertheless, becoming a homeowner is a rewarding experience with long-term benefits you won’t find as a renter. Keep on reading to learn how you can make the transition from renting to owning more seamless!
#1: Save Up!
Owning a home comes with brand-new costs – think of it as you being your own landlord! Saving a good amount of funds for future mortgage payments, insurance, upgrades, and repairs (need be) ensures you’re in good financial standing when it comes time to move in. Also, it’s always nice to have extra on the side as a cushion for future home projects, decor, personalizations, and simply to be prepared for anything. The bottom line? Prioritize saving money before you transition into homeownership so the new costs to your name are not as overwhelming once it’s official.
#2: Prepare Yourself!
Being accustomed to the ways of renting may put you at a standstill when learning the first thing about owning a home. That’s okay! Like any lifestyle change, preparation is key on all fronts. Before you move into your new home, you’ll more than likely have to book movers and assess what is coming with you and what you’re going to get rid of. It’s a great time to purge and sell any furniture, decor, or knick-knacks that you don’t see in a larger, long-term space. This way, you can really consolidate your packing and plan for what new items you’ll be investing in, plus any additional design projects or renovations you’re wanting in the new home.
Moving into a house after renting an apartment or condo requires mental preparation, as well! You’re transitioning into a new phase in life where you call the shots with your home. Many of the restrictions and worries that come with renting won’t apply anymore! No more being afraid to drill holes in the walls or counting down the months until your lease is up… being a homeowner means more stability and autonomy when it comes to home living.
#3: Take Responsibility!
Homeownership comes with a new list of responsibilities that didn’t exist as a renter, so educating yourself on what to expect is key before you move in! This includes finding trusted service vendors in your local area that you can rely on for your plumbing, electrical, landscaping, appliances, and more. Not only are you tasked with keeping your home in good condition, but staying in the flow of mortgage payments and any applicable fees will keep your equity in an upward trajectory, come time to renovate or sell your home years down the road!
#4: Have Fun!
The shift from renting to owning is stressful, yet bundled with excitement for the journey ahead! While balancing all the logistical details of homeownership, don’t forget to have fun with the process. If you’ve decided on a home already and are just waiting until move-in day, start brainstorming room decor and aesthetics throughout the space! Paint colors, furniture finishes, thread count for bedding… get lost in the details! Compile your list of ideas for when you’ve moved in, then make those visions a reality just the way you’d like!
Bonus tip: Have a Realtor by your side to make the renting-to-owning transition easier! Contact Shonnie Jones today for the professional real estate you need in Southern California!