Homeownership is an exciting venture that comes with a lot of responsibility. As a homeowner you are responsible for the physical structure and everything inside, including the occupants. Starting out, it is crucial to purchase a tool kit, invest in homeowner’s insurance, and start an emergency preparedness kit to protect you against any situation.

A Tool Kit

The transition from renting to buying is exciting, but it comes with a lot of additional responsibilities. With a home, you are responsible for repairs and fixes around the house. According to SafeWise , having a basic tool kit will go a long way in helping you perform basic DIY repairs. Performing these repairs will protect the integrity, maintenance, and overall value of your house. Keep in mind that additional tools for complicated repairs can be rented or a professional can be hired to take care of it. But fixing a loose screw or using a hammer to mount something to the wall will be very useful.

Homeowner’s Insurance

If you purchase your home through a mortgage, lenders require you purchase homeowner’s insurance. According to J Bixler Inspections , your home is likely the most valuable asset you’ll ever own. If a natural disaster or accident affects your home, insurance will protect you from significant damage. Covering medical bills, maintenance costs, and reimbursement for destroyed property can make or break a person’s financial ability to hold onto their home. Homeowner’s insurance is incredibly valuable in protecting the physical structure, valuables inside the home, and liability coverage.

Emergency Preparedness Kit

Once you have protected your asset with homeowner’s insurance, it is important to protect the members of your household with an emergency preparedness kit. According to Quicken Loans , a preparedness kit often includes bottled water, extra clothing, food storage, medicine, and other essentials for each member that will last for 72 hours. You never know when a natural disaster or emergency may occur, and it is wise to plan for it in your new home. Doing this will protect you from anything that could happen and give you peace of mind while building a new life in your new home.

Purchasing everything you need as a new homeowner can take time. As time goes on, you will certainly add more things to your collection, but starting with the basics will help you start on the right track. As a new homeowner, be sure to purchase a tool kit, homeowner’s insurance, and an emergency preparedness kit to protect you in any situation.

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