10 Invaluable Tips for New Homeowners

After months of searching, navigating legal processes and completing endless paperwork, you’re finally ready to move into your very own home, however, whilst homeownership is an exciting milestone and a solid financial investment, it also comes with new responsibilities and costs which can be overwhelming.

According to Cobus Odendaal, CEO of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg, first-time homeowners should be well-prepared to manage the transition.

“You now have additional financial obligations such as municipal rates and building insurance, and when something goes wrong, there’s no landlord to call - you are responsible for all maintenance and repairs,” says Odendaal. “However, with a proactive approach, you can enjoy all the benefits of homeownership while avoiding unnecessary stress.”

He shares the following essential tips to help new homeowners make a seamless transition from tenant to property owner:

1. Organise Your Homeownership Documents

Before moving in, set up a filing system - either a physical binder or a digital folder - to store important documents such as your mortgage agreement, insurance policies and warranties. Keep receipts for home improvements, as they may be needed for future tax purposes or resale value calculations. Having everything in one place will save you time and stress down the line.

2. Familiarise Yourself with Your Home’s Essential Systems

Understanding your home’s essential systems is crucial for maintaining safety, preventing costly repairs and ensuring smooth day-to-day operations. As a homeowner, you should know where to locate and how to operate key components like the main water shut-off valve and circuit breaker panel know how to access the geyser. Being able to respond quickly can prevent major damage.

3. Establish an Emergency Fund

Homeownership comes with unexpected expenses, from plumbing leaks to electrical faults or major repairs like a new roof. Unlike renting, where landlords cover maintenance, these costs fall on you. Start an emergency savings account as soon as possible and contribute regularly to ensure you’re financially prepared for any surprises.

4. Get to Know Your Neighbours

Building good relationships with your neighbours is beneficial for a number of reasons, including security, community support and local service recommendations. A friendly connection also makes resolving potential disputes easier and creates a sense of belonging in your new neighbourhood.

5. Invest in a Basic Toolbox

Owning a home means handling minor repairs yourself, so equip yourself with essential tools. A good starter kit includes a hammer, a set of screwdrivers (flat-head and Phillips), an adjustable wrench, a flashlight, a tape measure, and a power drill. These will come in handy for everything from assembling furniture to fixing small household issues.

6. Tackle Small Renovations Before Moving In

If possible, complete small projects like repainting walls, refinishing floors, or removing outdated carpets before settling in. It’s much easier to work in an empty house than to move furniture around later. This way, your home feels fresh and ready from day one.

7. Hold Off on Major Renovations

While it’s tempting to dive into big projects immediately, it’s wise to live in your home for a few months first. This allows you to better understand the space, identify what truly needs upgrading, and budget accordingly. Rushed renovations often lead to unnecessary expenses and regret.

8. Prioritise High-Value Upgrades

If your budget is limited, focus on renovations that offer the best return on investment such as kitchen and bathroom updates, fresh neutral-toned paint, and outdoor living spaces which typically increase a home’s value. Research the most desirable features in your area to ensure you’re making smart improvement choices.

9. Tackle One Project at a Time

Renovating multiple areas at once can be overwhelming, expensive and disruptive to daily life. Instead, work on one project at a time to stay within budget and keep your home functional. Prioritise tasks based on urgency and financial feasibility.

10. Monitor and Reduce Energy Consumption

Be mindful of your home’s energy use, especially if you’re moving into a larger space. Simple adjustments can lower your bills and reduce your environmental footprint. Consider these energy-saving strategies:

• Lower your water heater’s thermostat to 50°C
• Replace traditional bulbs with energy-efficient LED lights
• Position your refrigerator away from heat sources like ovens and direct sunlight

“Buying your first home and getting a foot on the property ladder is an exciting step, and with a little planning and preparation, it can also be one of the best investments you’ll ever make,” Odendaal concludes.

By following these tips, you can set yourself up for a smooth transition into homeownership, ensuring that your new home is a source of pride and comfort for years to come.