I’ve been in my home for about three and half years now (wow, time flies) and it has been quite the experience. The first home that I’ve purchased is a 1960s fixer upper that has required a lot of work, from adding a basement suite to renovating the kitchen and main floor. There are many lessons that I’ve learned about owning a home throughout these first few years.
+ Don’t settle, take your time to find the one – The biggest lesson that I learned about owning a home is how important it is to take your time looking for the right home and not to settle. It took me over a year of open houses and showings to find the right house for me. There were even homes that I had put offers in on before buying my current home because I just wanted to get the process moving already, but I’m so glad that those didn’t work out! Like one place I put an offer in on had a basement that even I, at 5’2″, couldn’t stand up straight in…
When I walked into my now home, I knew it was perfect. It was a great price, had a decent layout and lots of space to grow into. It was meant to be, and I’m so glad that I didn’t settle for anything less than perfect for me at the time.
+ Nothing is permanent – Something else to consider when shopping for a home is that nothing is permanent. Obviously you don’t want to spend a ton of money on a house that you’ll have to spend more money renovating, but it’s good to remember that you can change paint colours, layouts and much more. If the location and the price are right, don’t be too hung up on the house itself.
My house was anything but beautiful when I bought it. The location was decent, the price was great and the footprint of the home was perfect. But the layout and style of the home? It could really use some work. Between minor updates like painting and changing flooring, and major updates like adding a basement suite, renovating the kitchen and knocking out a wall, I’ve nearly doubled the value of my home all while making it a beautiful place for my family to live. Look past what is and focus on what could be!
+ Lighting make a huge difference – I never would have guessed this, but one of the best things you can do to update a home is change up the lighting. Natural light is the best, so a home with great windows is ideal, but sometimes you have to fake it. Changing an old light fixture for something new can change the style of a room, and even change the way that your paint colour appears.
I also think that it’s important to add lighting if your space needs it. While we now have an open floor plan in our main living area, we notice our living room is still quite dark, so we plan to add a few pot lights to brighten things up.
+ An outdoor living space is key – This might not be the case for everyone, but for myself and many others, an outdoor living space makes a world of difference. Spring to fall, I spend a good chunk of my time working outside on my patio, watching Odie run in the yard and soaking up the sunshine. We also like to BBQ and entertain, so an outdoor living space creates extra room for us to have company over. I will forever need a fenced yard with grass, beautiful plants and a large patio space.
+ Don’t be afraid to DIY – Owning a home means spending a ton of money, and once you’ve forked out that down payment and your first set of bills, it can feel uncomfortable to spend money on things like furniture and home decor. Don’t be afraid to do a little DIY! There are so many ways to update your home without spending a ton of money. Grab an older dresser from a garage sale and give it new life with a paint job and new knobs, create your own art or put in the hard work to do your own landscaping. It may not turn out perfectly, but it will be unique to you.
+ Automate savings for insurance, projects and bills – The biggest lesson that I’ve learned in owning a home is to automate savings for your expenses. I hate surprises and I like to have things planned out, so I make sure to automate certain things. For example, I set aside $100 a month to savings so that when my house insurance is due, I have that money ready and don’t have to scramble to get it together. I also automate savings to an emergency fund in case we need it to pay an unexpected bill or to fix a burst pipe. This is especially important when you work for yourself and can’t always count on a consistent paycheque.
Owning a home is wonderful and frustrating, rewarding and expensive. I’m sure that I will learn many more lessons about it through the years, and these lessons help me to manage my property and get the most value out of it.
