Your First Year as a Homeowner: What to Expect
Fast facts (today):
30-yr fixed averaged 6.23% (week of Nov 26). Translation: payments are basically flat vs. last week; negotiation power still comes from time on market, not rates.
Denver metro median closed price was ~$590K in October-November; typical time to sell ~35 days—slower than last year, giving buyers a bit more runway.
Your first-year rhythm (Denver edition):
Maintenance: Change furnace filters quarterly (add a humidifier pad), clean gutters and extend downspouts 6–10 feet, schedule sprinkler blowout in fall and startup in spring, test radon, service HVAC before peak seasons, and keep an eye on freeze–thaw cracks and grading. If the roof is older, price out a Class-4 upgrade at renewal for potential insurance savings.
Tax benefits: Track mortgage interest (Form 1098) and property taxes—often deductible, subject to the SALT cap. Save your closing disclosure and any capital improvements receipts. (I’ll always suggest confirming details with a CPA.)
No-surprise budgeting: Set aside 1–2% of the home’s value for maintenance, plus a “first-year” buffer for utilities deposits, insurance adjustments, tree work, sewer cleanout, and small tools. Prioritize safety/structure systems first: roof, sewer, HVAC, electrical, drainage.
How to stay ahead: Put reminders in your calendar today (filter, gutters, HVAC, sprinklers), build a simple home log, and at renewal ask for a seller-style credit from your insurer in the form of a re-shop—you’d be surprised what a fresh quote plus a Class-4 roof can do.
Bottom line: A steady checklist and a modest reserve turn year one from reactive to confident.
— Andy | Your Denver neighbor + data-driven Realtor®
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