My Top Tips for New Homeowners
Congratulations—you bought a home! Whether you’ve just gotten the keys or are anxiously awaiting possession day, there are probably a million things running through your mind. Between unpacking, decorating, possibly renovating, and all the rest of it, it can be hard to know where to begin. That’s why I’ve gone ahead and put together my top tips for new homeowners to help you get started.
1. Budgeting
Creating a budget is an essential first step to owning a home. Mortgage payments can be more (but also sometimes less!) than the average rent, so planning for how best to save and spend your money can go a long way in relieving financial stress. Start by making a list of your expenses every month. Include everything from your phone and Netflix bills to your mortgage payments and property taxes. If it comes out of your bank account every month, make sure it is there. This can give you a realistic expectation of what you need and how much you may have left over for non-essentials to prevent overspending.
2. Make Yourself at Home
Sure, you took a walkthrough of the house before you bought it, and likely during the home inspection, too. But everyone knows it can take a while to really feel at home in your house until you get to know it a little better. Take time to look around every room and familiarize yourself with your new surroundings. Find the important things, like your water shut-off valve and electrical panels, to make maintenance easier. Who knows! You may even find a new favourite feature this time around.
3. Plan for Regular Maintenance
Regular home maintenance is one of the most important parts of owning a home. This keeps everything in working order and prevents unnecessary stress from unexpected problems. Create a plan and schedule in the recurring tasks that need to be accomplished throughout the year. This includes changing air filters, cleaning the gutters, testing smoke detectors, indoor plant care, and routine cleaning.
4. Get a Toolbox
If you don’t already have a toolbox, getting one is one of my best tips for new homeowners. Hammers, screwdrivers, levels, and drills are essentials around the house, and you can’t always plan for when you’ll need one. Expect the unexpected and keep essential tools on-hand in an easy to find place. Just don’t forget to put them back when you’re finished!
5. Meet Your Neighbours
While the digital age has made meeting people easier in some ways, it can never replace the value of face-to-face interactions. And when you buy a new home, getting to know your neighbours can be a lifesaver. They can provide a helping hand in an emergency, keep an eye on your house while you are away, and foster a sense of community.
6. Create an Emergency Plan
Though we may pray they never do, emergencies happen. From power outages to house fires—you never know when the unexpected could hit, and it is better to be prepared. Make sure to have a plan in place and go through it with everyone in the family so you’re all on the same page. Create an emergency kit with the essentials, know where the first-aid supplies and fire extinguishers are, and have an evacuation plan ready.
7. Enjoy!
It’s not every day that you get to move into a new home that is all yours. Yes, there’s a lot of responsibility in homeownership, but there should also be some fun, too. It’s a significant accomplishment and something to be proud of. Take a moment to celebrate with a housewarming party or even just a quiet bottle of wine on the living room floor—you deserve it!
What is the Best Time to Move?
You’ve seen it. It’s everywhere! Inventory remains at an all-time low in Saskatoon, and with interest rates also staying attractively low, demand remains high. With eager buyers jumping at the opportunity to buy a home, prices are rising, piquing many homeowners’ interest in selling.
Whether you’re a first-time home buyer hoping to take advantage of the fantastic interest rates or a seller hoping to get more for your home, you’ve likely asked, “Is it a good time to move?” There are a lot of factors to take into account when considering the best time to move. If you’re currently deciding when to move, here are some of the factors to consider:
Why Are You Moving?
Depending on why you are moving or considering a move, your timeframe for when to move could change considerably.
#1 – You Are Relocating for Work. If you are moving to Saskatoon for a new job or position, you are likely working with a set deadline. This means you will have strict guidelines both in searching for a home and planning a move when it comes to dates. If you are simply moving within the city to lessen your commute or make it more convenient, you will have considerably more flexibility.
#2 – Looking for a Better Neighbourhood. Another reason why many families choose to move is to find the perfect neighbourhood. While this doesn’t give you any time constraints to work within, it’s important to note that it can take some time if you are particular about the neighbourhoods you are searching in. You may need to wait for the perfect property to come on the market.
#3 – Moving to a Bigger Home. Growing families often find themselves searching for more space, which may mean moving to a bigger home. While a great reason to be making your move, it shouldn’t interfere with any timing you may be planning for.
#4 – Downsizing to a Smaller Home. When the kids have all flown the nest, and you no longer need the 5-bedroom, 3-bathroom house, it might be time to downsize. Again, similar to moving to a bigger home, this shouldn’t interfere with planning the timing of your move.
#5 – Taking Advantage of Interest Rates. If you’ve been pre-approved for a mortgage with an attractive interest rate you don’t want to miss out on, you will need to expedite your home search to fit your locked-in rate’s deadline. These typically stay in effect for 60-90 days, which will be about when you should plan to buy a new home. However, if you’d prefer to push off the move beyond that time, you can always talk to your REALTOR® about moving the possession date to a time that works better for you.
#6 – Making the Most of Market Trends. If you have a home to sell and Saskatoon is in a seller’s market, you may want to take advantage of that to get more value for your home. Especially in a high-demand market, this could mean a quicker move, so talk to your REALTOR® about how quickly you might expect to sell. That way, you can get a better idea for planning your move.
The Best Time of Year to Move
Knowing how the reason you are moving influences the timing of your move, you can start to plan the “when” of it all. Each season has pros and cons for moving, so here’s what to consider when deciding the best time of year to move for you and your family.
Spring is traditionally when the real estate market in Saskatoon begins to get busiest. The weather starts to warm, people start coming out of the homes they’ve been trapped in all winter and are eager for a change of scenery. Some pros to moving in spring are that you’ll be settled into your new home in time to relax for the summer holidays, and the weather tends to be much more temperate—not too cold and not too hot. However, it can also be a hectic time for kids in school, particularly those in high school facing exam season. Moving companies are also getting busier, so you may need to be more flexible with dates to make it work.
Summer, particularly early summer, tends to be the busiest moving season as homebuyers who bought in spring come up to their possession dates. Moving in summer can be a great thing—the kids are out of school, it may be easier to take vacation time, and the weather is usually warm and sunny. However, moving companies are in their highest-demand season, which means you may have a harder time picking dates and can even expect to pay a little more than slower seasons.
Fall is when the Saskatoon real estate market tends to slow down as kids return to school and the vacation replies start to disappear. This cooler market may make moving in fall the ideal choice for you, with less demand for moving companies and typically easier conditions for buying a house. Plus, you will be nice and settled in just in time to show off to friends and family over the holidays! However, it can also be a little more complicated if you have kids in school, especially if you might be moving to a new school district.
Winter is usually the slowest season in real estate, with colder weather keeping people indoors. This can make moving in winter more attractive, with market conditions at their least stressful and moving companies at their most available (sometimes even offering discounted rates!). However, you will need to battle the elements on moving day, something most of us avoid during winter in Saskatchewan, and you may be in the process of moving over the holidays, which can already be stressful enough.
So, when it really comes down to it, there is no true “best time to move,” only the best time for you and your family. No matter when you decide to make your move, though, there are a few tried and true ways to make it as easy as possible. Your experienced REALTOR® will be able to walk you through all of the best tips and tricks for a stress-free move. And if you still need help deciding when to do it, they can help with that, too!