The first year after purchasing a house is the most dangerous and potentially challenging period. This is particularly true for first-time homebuyers who likely stretched their finances to achieve a 10 percent or greater down payment, leaving their liquidity quite thin.

Once you’ve secured the house, you are inevitably confronted with unknowns that only become apparent after moving in. Despite thorough inspections and contingencies, unexpected issues are bound to arise. Therefore, maintaining a financial buffer is crucial to address unforeseen quirks or maintenance issues.

Beyond home maintenance issues, there are external risks to consider—such as a recession, illness, natural disasters, or job loss—that can put your finances under pressure. The more expensive the home you buy, the more financial stress you’re likely to feel.

During this precarious phase, it’s essential to proactively fortify your financial foundation.

More Stress And Anxiety After Buying A House

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Keep reading this article on Financial Samurai.