Few things in life are as stressful as buying a home. However, the real work of owning a home comes once you move in. Things can go wrong and oftenWelcome Home do. However, you can be prepared to handle the ups and downs of home ownership by being aware of these common pitfalls.

Being Underinsured

Many homeowners make the unfortunate error of underestimating how much their personal belongings are worth. Though it’s important to have your property appraised, that alone isn’t enough.

To get the most suitable coverage, factor in the value of everything inside your dwelling, not just what it would take to repair. From improvements you’ve made and appliances you’ve updated, to furniture, clothing and electronics, you’ll need to account for everything that would have to be replaced.

Ignoring Routine Maintenance

All homes require upkeep, and some tasks are more vital than others. Neglecting routine maintenance could lead to a fire or flood. In fact, homeowners are more likely to file insurance claims for water and smoke damage than any other type.

Since houses don’t come with an owner’s manual, it’s a good idea to make and follow a home maintenance checklist that includes doors and windows, your washer and dryer, fire prevention equipment, dates of service on your furnace, and all other pertinent service records.

Making Assumptions About Your Policy

Do you fully understand your homeowners insurance deductible? If not, it’s important to get to know how it works and what out-of-pocket costs you’ll be responsible for in the event of an incident.

Generally, the higher the dollar amount or percentage deductible, the less you pay in premiums each month. But before you increase or decrease it, make sure you know how various claims would play out.

All homes, even new ones, experience unexpected issues now and again. Fortunately, many are preventable with a bit of know-how.

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