Buying a home is a huge financial and emotional commitment, so it makes sense that some hesitancies and worries accompany the decision. Even for people with life-long dreams of owning a home, these fears are still often realities. If you’re in the market for your first home, learn about some common anxieties that new homeowners experience so you can address them for yourself.

Paying the Mortgage

Owning is usually more expensive than renting, and those monthly mortgage payments can be a huge source of worry for new homeowners. The leap in costs and associated fees, such as property taxes and HOA fees, can feel overwhelming. The financial burden can cause buyers to wonder if they budgeted correctly or deepen a fear about financial instability now that their responsibilities are greater.

Though you probably can’t eliminate this anxiety, creating a thorough budget with plenty of wiggle room can help. If it’s possible for your financial situation, try to make your mortgage payment about 28 percent or less of your annual income. This gives you plenty of cushioning to deal with other expenses.

Dealing With Surprise Maintenance Costs

On the topic of additional expenses, surprise maintenance costs top the charts for homeowner fears. When you rent, your landlord or rental company takes care of the repair and replacement costs for most things. When you buy, however, you are financially responsible for any and all maintenance costs, whether that’s an inexpensive faucet replacement or a massive bill for foundation repair.

Though you can plan for many maintenance costs, such as HVAC inspections and roof cleanings, others come as surprises. What you can do is become familiar with the signs that something is wrong with the appliances or structures in your home. If you catch problems before they become serious, you can save a lot of money. Additionally, having that cushioned budget we mentioned is a huge help to alleviate financial strain.

Staying Safe

When you rent, your landlord or rental company is responsible for securing the property. They provide locks, cameras, security guards, and the like to keep residents safe. When you buy, you’re responsible for these safety features. This leaves many new homeowners concerned about break-ins and other crimes, regardless of how safe their neighborhood is.

Fortunately, this is a concern you can largely get rid of. Install security cameras and lots of exterior lighting, get a heavy-duty door with a safe lock, reinforce your windows, and hire surveillance services if you need to. You can also use smart home tech to make your home safer from the inside out, providing even more peace of mind.

Embracing the journey of homeownership means acknowledging the common anxieties that new homeowners experience. If you have any of these concerns, you can take steps to reduce their probability and impact. Best of luck as you enter the world of homeownership safely and confidently—you’ve got this!