It’s 2018 and time to make those ! Most resolutions are wishful thinking because by the time February comes around, that “lose 20 pounds” resolution is out the window. Your first 12 months of homeownership sets the tone for the rest of the year. By purchasing your new family home in Tres Lagos, you have already started saving money for your New Year’s resolution. There are a few other essential resolutions for new homeowners that you may consider. Home ownership has a funny way of costing more than you think. An emergency savings fund provides a financial safety net, and your new house in McAllen, is the perfect reason to start one. Remember, if your air condition goes out on a cold night, there’s no landlord to call. Laid off unexpectedly or surprised by major car repairs? Your payments are still expected to payed on time and in full. Without and emergency fund, these expenses could force you into credit card debt or worse. Your emergency fund should cover several months of expenses, but it’s ok to start small. Set aside a portion of every paycheck with the goal of saving $500 as quickly as possible, and then contribute as much as you can moving forward. Your insurance policy for your new home may satisfy your lender, but it doesn’t mean your adequately covered. There are unique coverage options and, more importantly, “exclusions’ that homeowners need to be aware of. Does your policy cover the full cost of your jewelry or other valuables? Are disasters like earthquakes and floods excluded? Will the insurance policy pay if your dog bites the new mailman or if a house guest gets injured on your property? Your new family home located in McAllen is more than likely your biggest asset. Therefore, you should spend some time reviewing your coverage and exclusions, and ask your insurance agent questions so that you can better understand your policy. Your disaster kit should include financial documents and a home inventory so that it will speed up recovery if the unthinkable happens. A home inventory can be as simple as snapping pictures of big‑ticket items in your home, or you could record items, brands, original prices, ages and condition in a spreadsheet. No matter which method you choose, a home inventory is the best way to make sure you have enough insurance coverage to replace valuables. Store the inventory, along with copies of your personal identification, credit card information, vehicle records and other important documents, in a fireproof safe or another place that’s easily accessible if you have to evacuate. If you didn’t purchase your new home in cash, it will be many years until you own it. Make plans now to build equity faster so you can unlock more benefits of homeownership even sooner. You can build equity slowly just by making your monthly mortgage payments, or you can find ways to speed up the process. Feel free to for more information about our beautiful properties here at Tres Lagos! Phone: Connect with Tres Lagos Homes for our latest news & events: