Transitioning from Renting to House Ownership
- 22.07.2020
- 1925
The change from renting a house to owning one is often an exciting prospect for many people. Even though the former option has a set of advantages in its tow, the latter strips a lot of the limitations that come with renting such as:
- Getting a sense of ownership
- Being able to make changes to a home without constraints or having to request the permission of a landlord
- Getting equity in a property, among others.
All these elements are attractive enough to push you to relocate to a property of your own. If you have owned property before, then you probably understand the ups and downs that come with the process. However, as a first-timer, there are a lot of things you will need to learn to make sure that you maintain a conducive environment in your home to make the experience fun for you and your family.
Understand your Responsibilities
When living in a rented home, most of the responsibilities fall in the hands of the landlord, so you do not have much to worry about things beyond rent and utilities. As a homeowner, on the other hand, a lot of things fall in your turf. If you are living in a standalone property, check to see if any elements could result in hazards for your neighbors such as trees with large branches that extend outside your property line. In some areas, the law has some regulations that determine how to handle liability for damaged property in the case of accidents that cross boundaries. If such rules are in place, make sure that you cut down any branches hanging outside your property to avoid any incidences. Also, take ample time to understand the area of your property. That way, you do not end up mowing your neighbour’s yard and spending more time than you should have. Even worse, you could put up a fence in their property.
If you relocate to a condo or an apartment in a shared unity, you need to understand where your liabilities begin and end. For instance, the responsibility of damaged plumbing in your condo could fall in your hands, but such issues that extend to the rest of your building are beyond what you are supposed to fix.
Maintenance is Key
As a homeowner, you will have to be alert on the cleanliness and condition of your house and the land it sits on if it comes with a yard from the moment cross Canada movers deliver your goods. Most first-timers find this to be a hard adjustment since most high costs for repairs fell in the hands of their landlord rather than their own. Ensure that you inspect your home from time to time so that you can notice any damages in a good time and have them fixed before they cost you more in the long run.
We recommend you to read “Cross Country Relocation” and “Managing a Cross Canada Relocation”.