Bangalore: Taking a leap from being a renter to a owner of a property is really exciting but at the same time a daunting task. You don't have to put up to the landlord's demands and can convert your new house into your dream house. From bright colors to having your own backyard you can decorate your new house according to your wish. In the course of all this excitement and a new responsibility there are chances that first-time homeowners can commit some mistake that can jeopardize everything they've worked so hard to earn. It will be very frustrating when you realize that one mistake has put you into financial trouble and you can't enjoy the luxury of being in your home. Therefore follow these steps in order to enjoy being the owner of a beautiful house. Limit Your Expenses on Remodeling and Furniture Expenses don't stop on just buying a house. You would have spent for fortune just to enjoy the benefits of living in your own house. You didn't hesitate to channelize a large portion of your life savings for a down payment, closing costs and moving expenses. You begin to live on a shoe string budget once you have moved into the new place. Your monthly income suffer but also expenses increase simultaneously. The new expenses that come with home ownership double such as utility and insurance. Many would like to bring about few changes and upgrade their new home. They would consider spending a huge chunk of money in buying a new furniture set and decorating the house. Rather it would be wise to give yourself time to adjust to the expenses of home ownership and rebuild your savings.