I know how lucky we are in this financial landscape to even have been able to buy a house in the first place. We all are definitely not in the same situation as our parent's generation. Where mortgages were easy to come by and they didn't need deposits as large as we all need to have to secure a mortgage. We are not in the 100% mortgage era that is for sure. Now a mortgage is a really high proportion of our earnings every month. But let's not get too far into that and depress ourselves.
So Here are five things I wish someone had told me before I became a homeowner
1. Owning a Home is Expensive Beyond the Mortgage
The monthly mortgage payment is just the tip of the iceberg. From council tax and insurance to maintenance costs and surprise repairs, owning a home means constantly budgeting for the unexpected and don't forget if you have borrowed money for a deposit this has to be repaid too. It is endless.
Having a safety net, like an emergency fund can provide peace of mind when things get pricey. But let's face it life at the moment is expensive and no matter what you do something will always crop up. For example, we had to do a lot of work to make this house liveable which we knew when we took it on. But boom surprise the roof is leaking. Oh, how fun. Now we have to find the money for that to be repaired and this would happen just as we got the other renovations done wouldn't it? No matter what you budget this will fluctuate and always cost more than you think.
2. Long-Term Security Matters More Than You Think
When you own a home, you’re not just investing in property. You’re investing in your future. That’s why thinking about long-term security is crucial. I know it might not be something you have even thought about but it is one of the most important steps I took was securing instant life insurance to protect my investment and my family.
You need to know that you are completely protected if the worst should happen. Life insurance really will be life changing, if the worst should ever happen not you or your other half. Imagine having to greve and then find the extra money for your mortgage and bills whilst you try to navigate the reality of what has happened. So scary.
But by getting good term life insurance it can help cover your mortgage if something happens to you. It’s a quick and affordable way to ensure your loved ones won’t face financial struggles in your absence. Seriously, it’s one of the smartest moves I made, and it’s so easy to set up no stress, no lengthy processes.
I have this feeling we had to show our life insurance policy to our mortgage provider too. So it's worth having your policy on hand as you go through the process. For your peace of mind.
3. DIY Projects Sound Fun... Until They’re Not
I had grand visions of transforming my home with Pinterest-worthy DIYs, but let me tell you, not every project is as simple as it looks. We have done major renovations since we moved in here. New kitchen, new fence in the garden and installed a pulldown bed in the second living room as we only have two bedrooms so we needed the extra bed for friends to stay over. Honestly I am very lucky my husband is handy because this would have cost us a small fortune if we had people in to do it. We did it all ourselves except for the kitchen worktop we had someone help us with that. Whatever time scale you think you have for a project it will take longer and be more expensive than you think. All those little trips to the hardware shop all adds up even when doing it your selves.
4. Small Changes Make a Big Impact
It’s easy to get caught up in big renovations, but sometimes small tweaks like a fresh coat of paint or new curtains can transform a space you dont have to move in and go hard like we did. We had to have a kitchen put in as the one here didn't work and the other projects we wanted to get it all out way. As we didn't want to leave it as they might never get finished. It is ok to take your time and live in your new home before making changes. This will also let your finances recover after the initial moving costs.
5. Creating a Home That Reflects Your Personality
When I first became a homeowner, I was so focused on the basics that I forgot one of the most exciting parts about moving to a new house, making the space uniquely mine! Over time, I’ve learned that personal touches, like displaying favourite photos, adding cosy textures, or choosing bold decor pieces like our new wooden shelf under the TV it's so rustic and so us, truly make a house feel like a home. This is after all our new home and finally we have the freedom to make it ours. We can paint it the colour we like, we don't have a landlord hanging over our heads and telling us what we can and can't do. This is ours. You need to make your home yours and I think that can get lost in the chaos of moving.
Your home is a reflection of you, so don’t be afraid to experiment and let your personality and creativity shine. Whether it’s through a gallery wall or a quirky DIY project like having a mountain bike as decor, those little details will make your space feel special and your own.
Final Thoughts
Becoming a homeowner is such an exciting journey, but it comes with its share of challenges and lessons. From unexpected expenses to planning for the future, there’s so much to consider. One thing I’ve learned is that securing your investment with life insurance is just as important as choosing the right shade of paint or the comfiest sofa. It really is a must do.
If you’ve recently bought a home or are planning to, I hope these tips help you navigate the journey with a little more ease and show you all the challenges are normal and you are not alone.
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