Now that you have reached your dream of homeownership, it is time to think about how to best take care of your home and about how your home can work for you.

If you had a Home Inspection prior to buying your home, you can use this as a guide to familiarize yourself with the mechanics (furnace, water heater, plumbing) and overall condition of your home. It’s also a good idea to complete a seasonal checklist to ensure that all aspects of your home remain in good, working order. The best way to prevent a big problem some time in the future is to repair the little problems on a regular basis.

The most important thing you can do to ensure you never have to worry about foreclosure is to always pay your mortgage on time. To do this, prepare a budget and monthly spending plan. List all of your monthly income and all of your monthly expenses. Don’t forget to save money for the long term repairs and maintenance items that are itemized in the Home Inspection.

Protect your investment! Review your insurance coverage with your insurance agent. Make sure you have sufficient coverage for any unforeseen event. Should you have replacement housing costs in the case of a disaster?

You worked hard to buy your house. Now your house can work for you. You have joined the ranks of people who enjoy the benefit of deducting their mortgage interest payments from their federal and state tax returns.

All affordable homeownership homes are deed restricted. This Deed Restriction contains use and resale restrictions that limit the profit that you can make at the time of resale. If you want to talk with an expert about your deed restrictions, or are thinking of selling, please call your local agency and talk with the Homes for Good housing counselor.

The day may come when you might want to think about refinancing. Your deed restriction may have an impact on the type of refinancing available to you. To make sure the process goes smoothly, please contact your local agency and talk with the Homes for Good housing counselor before you refinance.

There are often information sessions known as Post Purchase Workshops offered across the state. These workshops are free and a great sources of information for homeowners. Contact your local agency to find out more.

Enjoy your home!!