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To help you feel confident and prepared, Century Next Bank has put together this simple checklist to get you started on the right foot.
Get a handle on your budget.Owning a home means new expenses, so it’s important to track your money carefully. Start by creating a budget that lists all your income and spending — even the small stuff adds up! Keeping good records helps you stay on track, avoid overspending, and find areas where you can save. Need help? Utilize the “My Spending” feature in CNext online banking. You can choose
categories and set limits to help keep track of your spending.
Prioritize safety in your new space.One of the first things to do is make sure your home is secure. Check that all the locks on doors and windows work properly — and if you feel more comfortable, consider installing a security system. Don’t forget fire safety: test your smoke and carbon monoxide detectors every month. If your home has a dryer, clear lint from the entire vent system; built-up lint is a major fire hazard.
Know your homeowner tax benefits.Buying your first home may open the door to tax savings. You could deduct mortgage interest, property taxes, or even certain home improvements. If you moved for a new job or use part of your home for work, additional deductions may apply. Be sure to talk with a tax professional so you don’t miss out on savings.
Make your house feel like home.Now’s the fun part — personalizing your space! Decorating makes your home more comfortable and reflects your style. If you're planning renovations, be strategic. Upgrades in the kitchen or bathroom often boost your home’s value and can be a smart investment in the long run.
Build your emergency fund.Life happens — job changes, unexpected expenses, or health challenges can pop up when you least expect them. It’s smart to set aside three to six months’ worth of living expenses in a savings account. You’ll have peace of mind knowing you’re prepared for the unexpected. CNext offers personal savings accounts that securely protect your money and earn interest. With our “round-up” feature, transactions are rounded up to the nearest dollar and the difference is automatically transferred into your savings account. A Relationship Banker can help set up CNext checking and savings accounts in order to enjoy this benefit.
Need more homeownership tips? Century Next Bank is here to help guide you every step of the way. Reach out to us anytime — we’re happy to answer questions and help you feel confident in your new home journey. Contact us today!
