But before you go crazy in the aisles of HomeGoods and Bed Bath & Beyond, you should devote some of your budget to purchases that will protect your investment. These aren’t the flashiest or most fun purchases you will ever make, but they will definitely help you sleep better at night knowing your home is safe and secure – and that if anything does go wrong, you can more easily fix it.
A Home Warranty
When you purchased your home, the sellers may have included a home warranty as part of the purchase price. Essentially, a home warranty is similar to an insurance plan, but rather than covering your home, it covers appliances and systems within the home. With a home warranty, when a covered appliance – such as refrigerator, stove, hot water heater, air conditioner or pool pump – breaks down, the warranty will cover the cost of a repair or replacement. All you are responsible for is a service fee, which in most cases is significantly less than what you would pay on your own.
The cost of a home warranty typically depends on the service plan you select and how much you want to pay for service calls. In addition, a home warranty is only going to cover problems created by normal wear and tear. In other words, if the ice maker in your refrigerator goes on the fritz, that would be covered. If the door comes off of its hinges because your little one took a “ride” on it, that’s not covered.
New Locks and Keys
Even if you completely trust the former owners of your home and are certain they would never try to come back into the property, you can’t be certain that there aren’t keys to your new place out there in the hands of strangers. Therefore, one of the first things you should do when you move in is replace the locks and have new keys made for all the doors into the home. If any doors use codes – like a garage door opener – change those codes right away. This way, only your family and people that you trust can get into your home.
New Batteries for Smoke Detectors
The U.S. Fire Administration recommends that smoke alarm batteries be changed at least once a year (preferably twice) and smoke alarms themselves be replaced every 10 years. Unless the previous owners are absolutely certain of the date of the last battery change, it’s best to just start with a fresh set. You can check the expiration date of the smoke detector itself by taking it off the wall and checking the date of manufacture. If it’s within the last 10 years, you can put it back up and wait to replace it.
Some of the newer “smart” models of smoke detectors have longer-lasting batteries as well as apps that allow you to test them and stay on top of maintenance. If you are buying a home with one of these devices, be sure you get access to the necessary app so you can manage it yourself.
New Air Filters
Again, unless it was specifically stated as part of the contract or the previous homeowner told you that the filters in the furnace and air conditioning have been recently changed, you’re probably going to have to do this task yourself. It’s a simple one, and it can save a lot of energy and improve air flow. Simply check your unit for the dimensions of the filter, remove the old one, and put in a new one, which you can get at any hardware or home improvement store. The whole thing takes only a few minutes.
While you are at it, review the service records to see when the furnace or HVAC system was last serviced. Investing in a professional cleaning and tune-up can save a lot of money and aggravation down the road.
Some of the other investments you may wish to consider, depending on your budget, are new programmable thermostats if they aren’t already there, LED or CFL lightbulbs for light fixtures that still have older-style bulbs and new, energy- efficient appliances to replace older, less-efficient models. These investments may not do much for your home aesthetically, but they will certainly save you money and keep it safe.