5 Easy Mistakes Most Home Owners Make

African american homeowners holding house keys and boxes

When it comes to home improvement, most people have an idea of what they want and a plan of action. But sometimes, things don’t go as planned and homeowners find themselves in a bind. In this post, we’re going to share five easy mistakes homeowners make all the time and how you can avoid them. From choosing the wrong contractor to underestimating the cost of repairs, follow our tips to stay on track and get your home improvement project done right.

Not planning for future repairs

There are many things homeowners routinely take for granted, like making sure the roof is properly sealed against leaks or having a professional check the foundation for cracks. But there are also plenty of small repairs and maintenance tasks that can easily go undone, leading to bigger problems down the road. Here are five easy mistakes most homeowners make when it comes to planning for future repairs:

1. Not checking For Water Leaks
In damp climates, water can seep through any crack in a foundation or roof, leading to costly repairs down the line. A simple way to prevent this is to check for water leaks once a month and repair any detected leaks immediately.

2. Not Replacing worn-out HVAC components
A failing air conditioning system can lead to extreme heat or cold in your home, costing you both money and comfort. It’s important to have your AC checked annually and replace any components that start showing signs of wear.

3. Ignoring Caulking Problems
If water starts infiltrating into your home through gaps around doors and windows, it will eventually reach areas where the caulk has failed. Make sure to caulk all gaps larger than 1/4 inch wide and caulk around doors and windows at least every three months in high-humidity environments.

4. Not Checking Electrical Service Lines and Wiring
An exposed electrical wire can easily become damaged by weather conditions, presenting dangers not just to yourself but also to those inside your home should a shock occur. Check your wires once a year and replace any worn or damaged sections.

5. Not Cleaning Out Rain Gutters and Downspouts
Rainwater can quickly accumulate in gutters and downspouts, leading to leaks and damage. Clean out the gutters and downspouts at least once every six months in order to prevent costly repairs down the line.

Not setting aside money for emergencies

Emergency money should be set aside for unexpected expenses, like a car repair or a medical bill. Here are five easy mistakes most homeowners make when it comes to emergency funds:

1. Not saving as much money as they should. Most people don’t save enough money for emergencies. A study by the personal finance website Bankrate found that only 31 percent of Americans have enough savings to cover six months’ worth of expenses, and 52 percent think they would need to borrow money if an emergency arose.

2. Not having an emergency fund in case of job loss or illness. If you lose your job or become ill, your emergency fund will help you cover essential costs like rent, groceries, and medication.

3. Misusing their savings account. Many people use their savings accounts for everyday expenses instead of putting away money for emergencies. This can lead to problems if something unexpected happens, like a car accident or a serious illness in the family.

4. Forgetting about their debts and bills. A large portion of Americans (43 percent) have no idea how much debt they’re currently carrying, according to NerdWallet. This means that any sudden expense, like car repairs or medical bills, can quickly add up and leave them with little cash left over for an emergency situation.

5. Not being prepared for natural disasters. Natural disasters can cause huge financial strain on families, especially if they’re unprepared. Storms, fires, and floods can all damage homes, cars and

Not having a backup plan

It’s easy to let your home and possessions become a victim of the unexpected. But by taking simple precautions, you can minimize the chances of major disaster. Here are five easy mistakes most homeowners make:

1. Not having a backup plan.

One of the biggest mistakes homeowners make is not having a backup plan in place. If something goes wrong with your home – whether it’s an electrical issue, plumbing issue, or structural issue – having a contingency plan in place will help you get back on your feet as quickly as possible. Make sure you have backups for all of your systems – including water, electricity, heat, and CO2 – so if one system fails, you’re still able to live comfortably.

2. Notifying neighbors and family members about emergencies.

Another important step in having a backup plan is informing your neighbors and family members about any potential emergencies that may occur. This way, they’ll be aware of any problems and can take appropriate steps to protect themselves should something go wrong. It’s also important to let them know if you won’t be available to help them with anything during an emergency – this will give them peace of mind knowing that you’re taking proper precautions for yourself.

3. Not properly securing the property.

Properly securing your property is also essential for minimizing the chances of disasters happening. Make sure all gates are locked at all times, keep windows closed when possible (especially during inclement weather), and remove any flammable materials from the property. By taking these simple precautions, you’ll greatly reduce the chances of a disaster happening.

4. Not having an emergency plan in place for pets.

Pets can be a huge asset during emergency situations, but they also need to be taken into account when planning for backup plans. Make sure you have all of the information you need – including contact information for your veterinarian – in case your pet is injured or needs to be evacuated during an emergency. Also, make sure to keep food and water dishes filled and accessible, and make sure your pet is properly trained in emergency procedures.

5. Not having insurance coverage for home damage or loss.

Last but not least, it’s important to remember that accidents happen – even to the best-prepared homeowners. Make sure you have proper insurance coverage in case something happens to your home, and be sure to document any damages so you have proof should a claim arise.

Not knowing your property’s value

Most homeowners make common mistakes when it comes to estimating their home’s value. Here are four of the most common:

1. Not knowing your property’s square footage
The first step in estimating your home’s value is figuring out its square footage. Knowing this information can help you estimate your home’s marketability and whether or not any upgrades or changes need to be made to reflect that value.

2. Not taking into account recent price trends
If you’ve owned your home for more than a year, chances are that there have been fluctuations in the market rates for homes similar to yours. Taking these fluctuations into account can help you come up with a more accurate valuation.

3. Not calculating Title Insurance Value
Title insurance is mandatory in most states and protects the buyer from any defects or liens on the property – like mortgages that may still be owed on it – that could affect the sale price. title insurance typically costs around $200-$300 per year, so it’s worth factoring into your overall calculation.

4. Ignoring special features or features that set your property apart from others in its category
Some features – like a gazebo or pool – can add significantly to a home’s value, while others – like an off-street parking spot – may not have as much of an impact on the marketability of the house itself. It pays to take these things into account when calculating your home’s worth.

Final Thoughts

It is important for homeowners to avoid common mistakes of home ownership because these mistakes can have significant consequences for their finances, safety, and overall satisfaction with their home. For example, neglecting regular maintenance or repairs can lead to larger, more costly problems down the line, such as a malfunctioning heating or cooling system or a leaking roof.

Failing to properly insure the home or not having a disaster preparedness plan in place can also have serious consequences in the event of a natural disaster or other unexpected event. Additionally, making poor design or renovation decisions can result in a home that is less functional, less energy efficient, or less valuable. Avoiding these mistakes can help homeowners save money, protect their investment, and enjoy their home to the fullest.