The First Year of Homeownership: How to Plan for the Unknowns

Congratulations–you’re about to be a homeowner! While this milestone brings excitement and pride, it also comes with a unique set of challenges that can catch even the most prepared homeowners off guard.

Your first year in your new home brings both predictable and surprising elements–this month-by-month timeline helps you prepare.

Before You Move: Setting the Foundation

The weeks leading up to your move may seem like forever. But they are crucial for a smooth transition into homeownership. While you're picking out paint colors and testing furniture, complete these tasks to save stress (and money) in the long run:

• Start your utility transfers early–ideally two weeks before your move-in date. This gives you time to navigate any setup appointments or unexpected hurdles. Beyond electric and gas, remember to arrange water, internet, and waste management services. Many providers offer new customer promotions, so don't hesitate to ask about special rates or deals when setting up your accounts.
• Research and compare home insurance quotes from multiple providers–aim for at least three or four different options. Many homeowners find significant savings by bundling their home and auto insurance. As you review policies, look closely at coverage limits and deductibles. Depending on your location, you might need additional coverage for specific risks like floods or earthquakes.
  
• Create a dedicated savings account specifically for house expenses, separate from your regular emergency fund. A good rule of thumb is to save 1-2% of your home's purchase price annually for maintenance and repairs. Consider setting up automatic monthly transfers to this account, and look into high-yield savings options to make your maintenance fund work harder for you.
• Build your network of service providers by tapping into local knowledge–ask neighbors and check community social media groups for recommendations on reliable HVAC technicians, plumbers, and electricians. As you research providers, verify their licenses and read recent reviews. Keep a special list of 24/7 emergency service contacts–you'll want these readily available when you need them. Some providers offer annual service contracts or maintenance plans, which can be worth considering for regular upkeep.
• Take detailed photos of every room, including close-ups of any existing wear and tear. These can be valuable for insurance records and help you track changes over time.

To stay organized, keep your important documents in a folder while going through the process. If you have questions on any of these preparations, your real estate agent can be a great resource! If you’re a Twin Cities Habitat homeowner, you can also connect with our Homeowner Engagement team for advice.

First Month: Establishing Home Base

Your first month in your new home sets the foundation for years to come. Start with these critical security and safety measures:

• Change all exterior locks, and don't forget about side entrances, garage doors, and any outbuilding locks. If your home has a garage door opener, update all codes and reprogram any existing remotes.
• Get spare keys made for trusted family or friends.
• Test every smoke and carbon monoxide detector, and replace any dead batteries.
• Locate and label your:
• Main water shutoff valve: Mark it clearly with a bright tag or paint, and ensure everyone in the household knows its location.
• Circuit breaker box: each circuit, test the breakers, and create a detailed map of which outlets and fixtures each one controls.
• Gas shutoff, if applicable.

Remember your folder? Add important contact numbers, appliance manuals and warranties, and a home inspection report.

It’s completely normal if you encounter some surprises–that’s the joy (and reality) of homeownership! These might include mysterious light switches, hidden cleaning needs, and appliances with unexpected quirks. Document these as you go, and remember: unusual features or noises are just helping you get to know your home better.

Months 2-3: Getting to Know Your Home

Over these next couple months, you’ll start understanding your home’s personality. This is the time to tackle repairs noted in your inspection report and start tracking monthly utility costs to establish a baseline for your budget. Pay attention to how your home behaves–that noise in the basement could be as simple as expanding pipes or as complex as a plumbing issue needing attention.

This is also a great time to meet your neighbors and explore your new community. Not only is it fun to socialize, but long-time residents often have valuable insights about local service providers and seasonal challenges.

Every discovery, big or small, helps you become a more confident homeowner!

Months 4-6: Establishing Routines

After your first few months as a homeowner, you're ready to establish some routines to keep your home running smoothly. And that can look something like this:

• Schedule professional tune-ups for both your heating and cooling systems – this isn't just about changing filters, though that's important too. A thorough inspection can catch potential issues before they become expensive problems.
• Check your gutters for debris and proper water flow, paying special attention to how water moves away from your house. If you find yourself repeatedly cleaning leaves and debris, consider installing gutter guards to reduce maintenance needs. Look carefully where gutters attach to the roofline–any separation here can lead to water damage. 
• Do a thorough weather stripping check for all doors and windows.
• Test the smoke and carbon monoxide detectors again.
• Clean all your vents and returns, and consider upgrading to a programmable thermostat if you haven't already. These smart devices can help manage your energy costs while keeping your home comfortable.

After several months of bills, you've got a clearer picture of true homeownership costs. Take some time to go through your monthly utility bills and add up your maintenance costs. 

Now for the fun part–planning home projects! Think of your home improvements in three categories:

• Must-do-now (like fixing a dripping faucet)
• Near-future updates (maybe new light fixtures)
• Dream projects (kitchen remodel)

Months 7-9: Seasonal Transitions

These months represent your first major seasonal transition as a homeowner. Whether you’re preparing for summer's heat or winter's chill, this is a good time to focus on your home's energy efficiency. The utility bills from previous months? They're your guide to understanding where your home might need extra attention–from adding insulation to sealing sneaky drafts around windows and doors. 

As a new homeowner, you might not think about caulking and seals around windows and doors. But these seemingly minor spots can be your best defense against unwanted water damage and help with temperature control.

It’s also important to strengthen relationships with contractors you trust. As you tackle seasonal tasks or unexpected repairs, keep a list of reliable professionals who show up when promised and communicate clearly. 

Continue balancing your "must-fix-now" list with your "would-love-to-have" dreams, adjusting your budget and timeline as you learn more about your home's true needs.

Months 10-12: Looking Ahead

As you approach your one-year in your home, take a moment to celebrate. You've come a long way from those first days with the keys, and now it's time to plan for year two.

Use this experience to create a strategic plan for your second year:

• Re-sort your project list into clear categories: essential maintenance tasks that keep your home functioning safely, quality-of-life improvements that make your space more comfortable, and aspirational renovations that will add long-term value.
• Review your home savings strategy based on your first-year expenses. Has your initial budget proven realistic? Adjust accordingly.

You’ve discovered your home's quirks, understood its seasonal patterns, and built relationships with trusted service providers. The first year of homeownership has given you a solid foundation of knowledge that will help you in the years to come.

And remember, every home has its surprises, but that's what makes it yours.