MERRILLVILLE, IN …
The U.S. government’s recent first-time home buyer’s tax credit paved the way for a number of individuals and couples to experience the joy of owning a home. With the excitement of purchasing your first home comes the reality of “what now” in terms of furnishing, decorating, and fixing up that new home. And that’s an expense many first-time home buyers do not plan for ahead of time.
The National Association of Home Builders projects that most homeowners will spend $7,400 on their home, with more than half being spent during their first year of ownership. Even with a tax credit, that’s a mighty hefty price tag. So how do first-time homeowners go about making their new house a home without maxing out their bank account or credit cards?
“There’s a natural tendency when you buy a house to want to do everything right away. What you really need to do is prioritize what you want to buy and do, and then develop a plan,” said Mike Georgeff of DirectBuy. “What’s truly important in developing your plan is taking care of the essentials before making new furniture purchases.”
DirectBuy’s experts recommend:
- Tools for home improvement projects: Make sure to have a well-stocked toolbox that includes a hammer, screwdrivers, pliers, wrenches, a tape measure, and a staple gun. The more you are able to do on your own, the easier it will be to keep costs down.
- Purchasing “ready-to-assemble” furniture: Ready-to-assemble or “flat pack” furniture offers several advantages. First, you don’t have to wait for delivery. Since the furniture is in boxes, you can load it in your car and bring it home the very same day. More importantly, since you, not the store or manufacturer, will be assembling the furniture, it costs less.
- Accounting for window coverings in your budget: One consideration that is often overlooked by new homeowners is the increased number of windows in a house compared to an apartment. Be sure to budget appropriately for proper window coverings for your home. This has value from an aesthetic viewpoint (look and privacy), as well as from a cost perspective (e.g. thermal curtains can keep the heat/cold out, reducing energy costs and protecting your furniture from depreciating faster due to sunlight exposure).
- Garden tools: If you’re moving from an apartment into your first home, chances are a lawn mower, rake, and other garden tools were not in your closet. As a new homeowner, you want to maintain the curb appeal of your home. That starts by caring for the exterior of your home from Day One., which means you should have the basics on hand: lawnmower, garden hose, sprinkler, and a shovel (for winter weather).
- Basic appliances: While many existing homes usually come with appliances, a new homeowner needs to take inventory of whether or not they will need to purchase big-ticket items like a refrigerator, stove, and a washer/dryer before spending on less critical items, like a home theater system.
“That doesn’t mean everything you do or purchase has to be an essential. It’s just that some new homeowners can get caught up in doing everything at once and digging a financial hole that prohibits them from taking on more improvements,” said Georgeff. “By taking it slow, one room at a time, new homeowners can make their house a home without being house poor in the first year.”
DirectBuy Club offers home furnishings and items and materials for home improvement projects to help all homeowners create their dream homes—all at direct insider prices. DirectBuy also employs product specialists and designers, so if you need some assistance in selecting products or taking on a home improvement project, you have seasoned professionals at your service.
For more information on a DirectBuy Club membership, you can visit directbuycares.com.
About DirectBuy Club
For more than 39 years, DirectBuy Club has been showing thousands of consumers unparalleled ways to save as they shop for virtually everything for in and around their homes – from furnishings, home improvement and flooring, to entertainment and outdoor products, accessories and much, much more. With more than 150 locations in North America, DirectBuy Club offers its members access to more than 700 brand-name manufacturers or their authorized suppliers in the US, and more than 500 brand-name manufacturers or their authorized suppliers in Canada.
Consumers interested in seeing DirectBuy Club’s savings, service and selection up close may obtain a Visitor’s Pass to attend an Open House by visiting directbuy.com or directbuycares.com.