Expect These Problems With Your New Home in Colorado

Owning a home is something many dream of. Getting to decorate a home yourself, plant a garden, paint, have fun toys in the yard like a trampoline, a hot tub, or a pool, and have something to call your own. It is a sign of success, a sign of ownership, and something many strive for. While owning a home is great, there are things about it that are not enjoyable as well. The first year of owning a home is often the toughest, and despite dropping plenty of money on a down payment, moving trucks, and perhaps new furniture to fill the open space in your new home, you are likely to spend a little bit more than expected. Here are some problems you are likely to face in your first year owning a home in Colorado.

Home Problems in Colorado

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Imagine working hard for years to save up for your first home or perhaps your dream home. It finally happens, and after a few months you find out you need to invest more money into it, as there are problems you didn't know or see originally. According to a recent study by ahs.com, 89% of homeowners experience problems with their new home in the first year. What are the main problems they find, though? According to the survey, 43% have issues with appliances, 21% have problems with pests, 19% have roof problems, and 18% have leaks of some sort. Sadly, 42% of new homeowners did not budget for these types of issues, and 17% went into debt to fix them, with an average debt of $7,015.

The Cost to Fix Home Issues in Colorado

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While going into debt is not ideal, charging the repairs or taking out a small loan might be better than paying out of pocket. The average amount spent for those that do so for these types of issues is $5,061. You could take another route as well, as 18% asked the seller to help them cover major repairs they discovered after buying the home. After discovering some of these issues, 29% said the previous homeowners did a poor job taking care of the property, with 16% thinking the previous owner purposefully deceived them in the process. 38% go on to find out that corners were cut in home repairs when selling the home, and 18% think their inspector did a poor job during their inspection. Sadly, 1 in 10 end up regretting buying their home because of all the issues.

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