Help Protect Your Home and Save Money

Your home is almost certainly your most valuable asset, so it is very important that you look after it properly. Allowing it to get damaged, fall into disrepair, or get burgled will only hinder the standard of your lifestyle, so it is important that you take steps to against these possibilities. It is, of course, important to get home insurance to protect your investment, but your aim should be never to need to claim against this policy.

Maintenance
Maintaining a home is an intensive job. It is one which will take up a large proportion of your time and it is absolutely necessary. Australia has a very harsh set of weather conditions. The intense heat is also joined by heavy rains in large quantities, so your home needs to be able to withstand the worst. It is important to regularly check the quality and condition of your building. The roof is perhaps the most important because any leaks could cause severe damage to your home. Check the tiles regularly and be sure to promptly replace any which are loose or damaged. Maintaining the paint on the outside of your home is also a great way to ensure that it is weather-protected. A good coat of paint should be applied every 2–3 years.

Storm Precautions
With unpredictable flooding in much of Australia, it seems wise to prepare your home against storm waters. This is not an easy task, but there are landscaping precautions you can make to help keep the water at bay. Walls will help to keep water out better than wooden fences, and integrating ditches into your landscaping could divert the path of any storm waters. Installing shutters on your windows and doors will also help you to keep the weather at bay.

Flood Preparation
If a storm does become a flood, you will need sand bags. Having a large stock in a cool, dry part of your garage will help you to deal with the worst if it does occur. It is also sensible to establish a safe room with supplies in it, so that you can survive for a period without suffering if you are left stranded. Remember that flood cover is often not included in your home and contents insurance. If you live in a high-risk area, like a flood plain, it is worth looking at the possibilities for this type of cover.

Emergency Preparation
It is important to have a plan in place for every type of emergency. This is as much about protecting your family as it is about protecting your home. Consider what you will do if there is a fire, flood or other disaster and make sure that your family is well drilled in the processes.

Security
It is prudent to take every precaution you can against intrusion into your home by burglars. This can be prevented through locks, Crimsafe screens and alarms. Also, remember that making your home appear occupied is one of the best ways to deter burglars, so be sure to manage your garden, your mail and your home’s outward appearance, even when you are away.

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Your First Home – What Do You Really Want?

This year, I purchased my first new house. Ok, house may be a bit of an exaggeration. It’s a 2 bedroom apartment – but on the bright side, it is in a great spot, feels like home and offers every convenience I need. As a new home buyer, I tackled a lot of hurdles. First and foremost, agents, solicitors, banks – everyone can smell how green you are from a mile away. You look new, you look scared and nine times out of ten, you look like you have no idea what you’re doing. Buying is nerve-wracking. This is a ridiculous amount of money (especially where I’m from in Sydney), it is a very long commitment – and what if you decide next year that you don’t really like it, or your neighbours are horrible, or you get a job in another city?

Questions and doubts like these are all thoughts that plague your mind when you are buying your first home. You want to know you’re making the right decision and that you aren’t going to regret the decision later –take it from me! Given I now have a beautiful apartment which is lovely in theory, but also equates to monthly repayments, crazy strata levies, council tax…and restriction to holidays and travel – take it from me, you want to know you won’t regret it! So how can you be sure? Before you book your removalists, you need to work out what you really want – and stick to it!

1. Location
First of all, when you think you’ve found the place you’re going to buy, make sure the location is perfect. It needs to be convenient to your work and that of anyone buying with you. It also needs to be convenient to a variety of transport, as this is a twenty-to-thirty year commitment, so likely your jobs will change at least a few times during that period. Make sure you will remain happy with how far it is to shops, the city centre and other facilities, and know for certain you will always be happy with putting up with that distance.

2. Costs
A lot of us, when we find our ‘dream home’ don’t take a great deal to budge when it comes to extending our maximum spend threshold. We think, ‘ah, it’s only a little more’, and in our heads it seems easy to stretch the weekly wage that far. But it’s not, and your wage is not always predictable. Make sure the repayments are comfortable, not difficult at all. Also make sure you have enough savings that should you be terminated at work or leave, you can make repayments for at least a few months.

3. Size
You need to decide what size home you want – and how much debt you want to go into! Are you after a flat or is a kit home more in your price range?

4. Additional costs
It is truly heart breaking when you move into your new place, thinking ‘I’m not wasting dead money on rent now’, and end up paying huge amounts in strata levies or other costs. Make sure you know that other costs are involved and if you’re happy with them especially if you are moving a long distance and need interstate removalists.

5. Adventure
Short and simple – if you don’t earn a lot of money, make sure travelling and holidays are out of your system for at least five years.

6. Home loans
Seems like a no-brainer, but read the small print. Make sure you understand how interest rates work, negotiate yours, and know you can make repayments comfortably still if the rate goes up by 2%.

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