After your first year of homeownership: What to review and plan for next

Coverage by home type

Warranty details vary depending on the type of home and the builder. For example:

• Site-built homes purchased through a Clayton builder include warranties provided by the local home builder, with coverage details and timelines set by that location.

• Clayton modern manufactured homes include a standard one-year limited warranty that begins on the installation date. It covers materials, workmanship, and core systems like plumbing, heating, and electrical.

Most homeowners can find their coverage details in their home manual and warranty documents. Taking a few minutes to review them before your first year ends can help you feel clear on what applies to your home.

If you are considering options to extend or add warranty coverage beyond the first year, you may choose to purchase an extended warranty through a third-party provider. Extended warranties usually cover fewer items and focus more on specific systems or structural details. Your home consultant can help explain what extended coverage may be available to you.

Should I update my home insurance after one year?

Most home insurance policies renew automatically. That makes them easy to overlook. Your one-year mark is a good time to review your policy and confirm it still reflects your home and your needs.

Over the past year, your home may have changed. You might have added appliances, built a deck or shed, upgraded landscaping, or purchased new furniture. Even small improvements can affect how much protection you need.

As you review your home insurance policy, check:

• Your coverage limits for the home itself

• Personal property limits

• Your deductible amount

• Any recent updates, added coverage, or changes to your policy

Periodically check that the policy still reflects the current value of your home and belongings. If something’s changed, your insurance provider can walk you through adjustments and explain what they mean for your premium.

Homeowners insurance is one of the quiet safeguards of homeownership. Taking a few minutes each year to review it helps protect not just your home, but the life you’re building inside it.

How does buying a home affect my yearly taxes?

For many first-time homeowners, tax season looks a little different after buying a home.

Most mortgage lenders provide Form 1098, which shows how much mortgage interest you paid during the year. You may be able to deduct certain property taxes, depending on your situation. However, tax rules vary, so consider speaking with a tax professional for guidance regarding your specific circumstances.

Because every tax picture is different, it can help to speak with a tax professional. In the meantime, gathering your paperwork early can make the process feel more manageable.

As you prepare, look for:

• Form 1098 from your lender

• Records of property tax payments

• Documentation related to major home improvements

Taking time to understand how buying or building a home fits into your tax return helps you stay organized, so you can plan ahead with confidence.

What happens to property taxes after the first year?

Property taxes can change over time. If they’re included in your mortgage through an escrow account, your lender will send an annual escrow statement showing what was collected and what was paid toward taxes and insurance.

If your property taxes went up, your monthly payment may also increase to keep pace. If they went down or were originally estimated a bit higher than needed, your payment could adjust the other way. These changes are common, but they can still feel surprising if you’re not expecting them.

As you review your escrow statement:

• Confirm your current property tax amount

• Check whether your monthly payment is changing

• Adjust your budget if needed

Reach out to your lender if you’d like help understanding how the calculation was made. Understanding these updates is part of understanding the overall cost of homeownership. When you stay informed, planning ahead feels more manageable.

What home maintenance should I do after one year?

After living in your home through every season, you probably have a better feel for how it holds up in heat, cold, rain, and everything in between. With year two around the corner, it’s a good time to give your home a little TLC.

Many homeowners begin with simple maintenance tasks that keep things running smoothly and prevent small fixes from turning into larger ones.

You might:

• Replace HVAC filters

• Test smoke and carbon monoxide detectors

• Check seals around windows and doors

• Clear gutters and glance over roof lines

• Schedule servicing for your heating or cooling system

• Depending on where you live, this can also be a good time to refresh landscaping or think about seasonal pest control.

Annual home maintenance helps your space stay efficient and in good condition. A little attention each year goes a long way toward protecting what you’ve built.

Homeownership in year two

Reaching your first year of homeownership is something to feel proud of. Over the past 12 months, you’ve learned how your home works, what it needs, and how it fits into your life.

As you move into year two, small check-ins go a long way. Reviewing your budget, keeping up with maintenance, and staying familiar with your coverage details help you feel more confident as a homeowner.

If questions come up along the way, you don’t have to sort through them on your own. A helpful Clayton home consultant is always on hand to help. You can also find practical tools, guides, and answers with our owner support articles and can also contact us for homeowner support anytime.