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NerdWallet: This is how your life changes when you become a homeowner

This article is reprinted by permission from NerdWallet.

You signed the papers, got the keys and opened the front door. Now, that quaint little place is all yours.

But more freedom comes with more responsibility. A lot changes once you’re a homeowner. Here’s how to prepare for a few of the adjustments — emotionally and financially.

1. You think about money more often

Ideally, you start thinking about money long before you sign the papers for your home.

Say a mortgage on your dream house would be $2,000 a month, but your current rent is $1,500. You should live at the new expense level to test it out before you buy, says Marianela Collado, CEO and senior financial adviser at Tobias Financial Advisors in Florida.

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