Buying a home is a huge accomplishment—and an exciting one! After all the paperwork is signed, it’s natural to start dreaming about all the upgrades and personal touches you want to make. Before diving into major renovations, it’s important to prioritize certain home projects to protect your investment and make the space feel like home.
Here’s a guide to which home projects you should focus on first, and how to plan out the bigger ones down the line.
1. Safety First: Address Immediate Concerns
Start by taking care of any safety-related home projects first. Even if your home passed inspection, it’s smart to do your own walkthrough and take note of things like:
- Smoke and carbon monoxide detectors—make sure they are working and up to code
- Electrical issues—exposed wires, outdated panels or flickering lights
- Leaks or water damage—especially in basements, roofs or under sinks
- Mold, pests or signs of structural damage
Fixing these items early on can prevent costly repairs later and give you peace of mind as you settle in.
2. Secure Your Home
If you’re moving into a previously owned home, one of the first things to do is change the locks and reprogram any garage codes or smart locks. You never know who might still have a copy of the old keys. You may also want to install a security system or cameras depending on the neighborhood and your comfort level.
3. Paint and Flooring
It might sound simple, but painting and updating flooring are home projects that can make a huge difference. These home projects are easier and more cost-effective to complete before you’ve moved in all your furniture. Fresh paint can brighten a space and make it feel like yours, while replacing worn-out carpet or refinishing hardwood floors adds immediate comfort and value.
Even if you’re not ready for a full remodel, painting and flooring set a great foundation for future updates.
4. Efficiency Upgrades
Another smart first step is improving your home’s energy efficiency. This could include:
- Upgrading to a programmable thermostat
- Sealing windows and doors
- Replacing old appliances with ENERGY STAR-rated models
- Adding insulation in attics or crawl spaces
These changes can lower your monthly utility bills and make your home more comfortable year-round.
5. Focus on Function Over Flash
It can be tempting to start with flashy cosmetic upgrades like a full kitchen remodel or brand-new landscaping. Early on, it’s more important to focus on function. Do you need more storage? Are there outdated fixtures that make daily life frustrating? Would a few inexpensive changes make a big difference in how you live in your space?
Start with functional updates that improve your quality of life, and save the bigger design upgrades for later—when you have a better feel for how you use the space.
Planning Ahead: Funding Future Home Projects with Home Equity
Once you’ve settled in and tackled the essentials, it’s time to start thinking about more significant renovations—like that kitchen upgrade, adding a deck or converting a basement into a livable space. These projects can add value to your home, but they can also come with a hefty price tag. That’s where home equity can come in.
As you pay down your mortgage and your home’s value increases, you build equity. Many homeowners choose to tap into this equity through financing options like:
- Home Equity Loans: These offer a lump sum of money with a fixed interest rate, ideal for one-time renovation projects.
- Home Equity Lines of Credit (HELOCs): These work more like a credit card, giving you flexible access to funds with a variable interest rate.
Before using home equity, it’s a good idea to speak with one of Diamond’s mortgage experts. They can help you understand your borrowing power, compare loan options and ensure the timing and terms align with your goals.
When you buy a home, it’s easy to get swept up in big ideas—but starting with the right projects can help you feel settled, safe and financially prepared for the future. Focus first on safety, security and simple upgrades that make a big impact. When you’re ready for bigger transformations, know that your home’s equity can be a powerful tool to bring your vision to life.
Your new home is a blank canvas—take it step by step, and you’ll create something amazing.
