Allen Tate President/CEO Pat Riley shares milestones to plan for.

There’s an old saying that there are three things that matter in real estate: location, location, location. But while location is certainly important, homeownership is really more of a journey, not a fixed destination.

“When you take ownership of your home, it’s called a closing. But this is really when the homeownership journey begins, not ends,” said Allen Tate Companies President and CEO Pat Riley.

  • Market Update. Riley recommends a quarterly update to keep up with recent sales and current trends in your neighborhood.
  • Insurance Physical. Once a year, homeowners should “shop” their insurance coverage to make sure they are getting the best rate and coverage/
  • Mortgage Refinance. This decision must be made strategically, said Riley, based on what type of loan you have, interest rate, closing terms and how long you plan to stay in your home.
  • Maintenance and Repairs. Regular home maintenance and repairs need to be part of your budget. A home warranty can help with unplanned system and appliance failures.
  • Cosmetic Updates. Today’s buyers don’t want homes that are dated. Riley recommends a home physical every 3-4 years to review your home’s features and colors.