Where to Save and Where to Invest in Your First Home

When buying your first home, you’ll be hearing a lot of “congratulations” and “isn’t it exciting.” However, what your friends and family may fail to grasp is just how bewildered and uncertain you may be feeling, not knowing what to do first.

To help you out, we’re bringing you a short list of items to invest in and items to save on when furnishing your very first home.

Save: Kitchen Remodel

It may be incredibly tempting to jump into a full kitchen remodel before moving in. But if the kitchen is in decent shape, you can keep most of it as is. Just replace the fixtures and handles, and give the cabinetry a fresh coat of paint.

This is a much more affordable route to take, and it will allow you to splurge on other items at the very start. If you choose to stay in your new home for years to come, you can rework the kitchen later.

Invest: Floors

There are three ways you can invest in your flooring:

  • * Redo them completely. This is definitely the most costly choice, but the one that will also raise the value of your home most significantly.
  • * Give them a bit of a spruce-up.
  • * Invest in quality rugs and carpets.

You want to be walking on amazing flooring, whether it’s a wooden floor or a soft carpet. Saving in this department will only turn into an irritant in the long run, as you find the carpet is wearing fast or that the marks on the floor keep annoying you every time you see them.

Save: Freestanding Storage Solutions

Unless you’re pretty certain your first home will also be your last, there’s no sense investing in custom built-in storage solutions. You won’t be able to take them with you, and you don’t want the expense right now.

Instead, go for freestanding solutions from places like Ikea. They’re much more affordable, and if you choose them correctly, they can even look like very upscale pieces.

Invest: Mattress

The mattress you sleep on can literally make or break your entire experience in your new home. If you keep waking up tired and with a pain in your neck or back, you’ll have no energy to appreciate all the good aspects of it. You’ll only be able to focus on the negatives.

This is why choosing a mattress that suits your personal preferences is so important. If you do your research well and make a wise choice, your bedroom will truly become an oasis. It will be your place of rest and relaxation – a space you look forward to coming home to every day.

Don’t forget to also treat yourself to some nice bedding. It doesn’t have to be the most expensive option available, but sleeping in sheets you adore is one of those everyday acts of self-care we don’t appreciate enough.

Save: Bathroom Remodel

Alongside the kitchen, the bathroom remodel is often one of the most expensive endeavors in a new home. However, you can cut some corners here as well and save some money if you play it smart.

Start by considering the pieces that are already in there. Think through whether you actually need to be changing them. Maybe they’re not what you would ideally like to have, but they may be perfectly all right for now.

A fresh coat of paint, a good scrub of the tiles, or perhaps stick-on tile covers as a temporary solution can do wonders. You can also source plenty of items second-hand or through companies that specialize in repurposing used items.

Invest: Sofa

You’ll probably be spending a lot of time on the sofa, so you want to make sure it’s super-comfy. Consider your personal lounging style and ask the following questions:

  • Do you need to be able to lie on the sofa facing a certain direction?
  • Do you prefer to tuck your feet under while watching TV?
  • Can you comfortably rest your back and bend your knees with your feet touching the floor, or is the sofa too wide?

Also consider:

  • the number of people you usually seat in your living room
  • the size and direction of the TV and how close it will be to the sofa
  • all the possible reclining angles you want it to be able to accommodate

Once you have all this figured out, get the best sofa you can find that fits your budget.

Save: Table and Chairs

Your dining room setup is also something you can initially save on. You can easily find tables and chairs that look expensive but only cost a fraction of the price of a high-end model.

Antique stores and yard sales are a great place to look for a set. That’s where you’ll source items that are in great condition but don’t cost nearly as much. Make sure you consider the size carefully, though. You want to be able to move around easily enough while also being able to seat at least four people. 

Invest: Something That Makes You Happy

Finally, invest in an item that will make you smile every time you look at it. This can be a piece of art, an armchair, a ridiculous shelf – anything you absolutely love, even though it feels like a bit of an extravagance.

The purpose of this piece is to provide an extra layer of happiness to your home. It will serve as that one item you will always remember fondly, even when you may no longer have it.

Don’t buy dozens of these kinds of pieces, no matter how tempting the reasoning may be. More than one or two will defeat the purpose.

Wrap Up

So, do you have an idea where to save on your new home and where to splurge? By knowing where to budget, you’ll be able to afford the more expensive and necessary work. Hopefully, these tips will help you make the right decisions and allocate your finances smartly. Don’t forget to enjoy the process as much as you can, no matter how stressful it gets at times!

For other blogs that can get you up to speed as a new home buyer.

First Time Homeowner’s Guide to Home Maintenance

DIY Tips for First Time Homeowners

7 Worst Mistakes First Time Home Buyers Make