Welcome back! Pick up where you left off.
Confirm your plan and zipcode
Select from 3 of our most popular plans for your zipcode
Term
2 Months
Rate
Fixed
Sign up online or contact us. You’ll find plans designed to fit your budget and lifestyle.
No need to cancel your service before moving. Simply transfer it to your new address and get same-day electricity service.1
Sign up online or contact us. You’ll find plans designed to fit your budget and lifestyle.
No need to cancel your service before moving. Simply transfer it to your new address and get same-day electricity service.1
But it’s no secret that prices in the U.S. have been steadily rising over decades, with housing values increasing by over 300% since 1950.i
To that end, first-time buyers should feel confident that purchasing a home is a solid investment strategy. Take a look at these expert tips on how to protect that investment when you buy your first home.
Once you become the proud owner of your first home, you’ll need to ensure that you stay on top of your monthly mortgage payments. Sending in your payment late can result in accruing additional fees, a ding on your credit score or even foreclosure. You can easily avoid these consequences by making your payments on time or even early each month.ii
Purchasing high-quality home insurance is a necessity when you buy your first home. Home insurance protects your house and possessions against damage or theft, so consider purchasing insurance that covers as much as possible in the event that you require financial protection after a fire, flood or home invasion.
If there’s something wrong with your home, look into starting repairs immediately. The problem may only get worse and become more expensive to fix if it isn’t addressed as soon as possible. You may save money in the long run if you make major repairs as soon as, or before, they’re needed. Here are some of the most common repairs that homeowners think about staying ahead of:
Making upgrades to your home while you live there can offer more benefits than just improving overall comfort and livability. It’s also a great way to ensure your home remains energy efficient, as well as increasing its value. Upgrading your kitchen or bathrooms or even adding solar panels or additional landscaping can ensure that you get a higher return on your investment if you eventually decide to sell your home.
If you can afford to do so, paying off your mortgage as soon as possible with extra monthly payments can save you tens of thousands of dollars in interest. Interest rates can cause you to pay more than twice the purchase price of your home before you own it, so there may be peace of mind to be gained by paying off your mortgage early.iii
If interest rates fall, consider refinancing your mortgage. Reducing your interest rate can be an excellent strategy for saving money over time as you pay off the loan on your home, as well as working toward the goal of paying off your mortgage sooner.
Purchasing a home is a good long-term investment, and following these tips can help you secure that investment and even build equity as a first-time buyer.
If you’re buying your first home in Texas, choose Reliant as your electricity provider. Click here to get started.
i Better. com, Here's how much home prices have risen since 1950
ii Lendingtree.com, What you need to know about late mortgage payments
iii Investopia, The benefits of mortgage repayment