Home Buying Tips
Lessons From a First-Time Home Buyer: The Truth About Managing Risk as a Homeowner
Ever since we first toured the home that we’d go on to make our own, there was something literally looming over the house that worried me a bit: a giant tree in the backyard. Specifically, as I’ve learned, it’s a silver maple tree — and, while it does provide some great shade, watching the branches blow in the wind does lead to some anxiety. That’s why, at long last, we finally called someone out to take a look at it and give us some options. Instead, what he gave me was some interesting perspective on homeownership and the “worst case scenario.”
Looking at some of the branches that hung over our house, he explained that trying to have these removed wouldn’t really be in our best interest. Essentially, we’d need to pay them a lot of money to climb all the way near the top of the tree to remove them — and then they’d likely grow back fairly quickly. But what if these limbs were to break and damage the house? Well, as he explained, it would likely be a lot cheaper to repair any damage done via our homeowners’ insurance than it would be to try to prevent this in the first place.
This tip was mind-blowing to me for a couple of reasons. For one, it made me realize that I was catastrophizing the homeowner experience, concerned that something major would happen that would cost us our financial security. Yet, I’d somehow completely forgotten that this is exactly why we pay for homeowners’ insurance! While there are certainly some situations that this policy won’t cover, for the most part, it should help protect us against the worst of it.
Of course, the other surprising part of this story is that this insight meant that he left without a job! Instead, after checking out the tree and showing me signs that it was indeed healthy, he set off without taking a dime. Before departing, he did also compare having a big tree to driving a car: there’s always going to be some risk with things out of your control, but you can still manage it.
Ironically, the day before I wrote this (I’ve had this article planned for a few weeks), a storm blew through our city — one that, for the first time since we moved here, led me to think “I should probably go to the basement.” According to the local utilities provider, this high-wind event caused more damage to their system than they’ve seen in nearly 20 years. In fact, if you saw some national news reports, you may have seen photos of uprooted trees and downed lines from the 90 miles-per-hour gusts that came through Springfield. Thankfully, all that happened here is that a few somewhat sizable limbs from the silver maple tree fell and landed on our deck. But, none of those caused any real damage and we managed to retain power.
For as great as being a homeowner is, it can also be a bit scary. Making the leap from renting, it suddenly becomes very clear that you’re fully responsible for what happens in and to your house now. However, as I realize now, that’s not a reason to go overboard and worry yourself with trying to prevent every possible problem. Rather, while it’s always smart to take precautions, sometimes you just need to let life happen. Who knew I’d get such knowledge from a tree guy?
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