The Fear Of Being A Homeowner: How to Handle It
Many people choose not to purchase a home because they have a genuine fear of being a homeowner. This is not irrational. Being a homeowner is a huge responsibility, not to mention one of the biggest financial commitments of your life. Here are three things you can do to overcome that fear and make the leap from renter to owner.
A good home inspection is key to your home buying process
We cannot say this enough – a good home inspection is KEY. The fear of owning a home has to do with the fear of something big “breaking” after purchasing your house. You’ve spent all this money to make the purchase, few people also have a money set aside “in case” something needs repair. And rightfully so because a good home inspection should prepare you for everything you need to know.
Now, there is no such thing as a perfect home. Even new constructions can have issues or unforeseen repairs. But the point of the home inspection is to gain knowledge about each every thing you need to know about your home. The more thorough an inspection, the better off you are going to be. And the more you are able to prepare for upcoming repairs.
You have people in your corner
You have an entire team in your corner when you purchase a home. Your team should include your realtor, loan officer and home inspector. We’re all on your side to help you make a decision that makes you feel comfortable and happy. A good realtor is going to share any and all details about the home that they can find out. Everything else your home inspector (a good one like us) is going to give you even more information about the house. And lastly, your mortgage officer is going to make sure you’re making a good investment – because they want to make sure they get their money back.
With so many people on your side, you can at least feel confident in the process of buying the home. Fear of maintaining the home, which I’ll talk about next, can also be managed fairly easily.
Homeowner due diligence will get you the farthest
Maintaining a home can feel daunting. Especially if you have always rented and are used to being able to call on someone else for repairs and fixes. Now that you are that person, you have a few ways of going about preparing for this.
First, you can save money for emergencies. And let’s admit it, we should all be doing that anyways. With money set aside, you can afford to call on a handyman or whoever you need to make repairs if and when the time comes. Second, you can educate yourself. Many things inside your house can be fixed by you, if you take the time and use the resources you have to learn. Places like Home Depot offer classes and workshops, sometimes for free, for those who want to learn how to do a repair or even remodel something in their home.
So you have options, lots of choices, and people on your side. There really is no reason to fear the idea of home ownership. Instead, enjoy the process and know that you have Divinity Inspection Services in your corner.
