New Home Owner - Looking for frugal tips for first time homeowner

Your emergency fund protects you from overall loss of income. For homeownership, several sinking funds in a HYSA will help you save for other inevitable expenses. For example, a home appliance fund to save for the HVAC, water heater, dishwasher, refrigerator replacement etc. Another for home repairs and remodeling projects. A separate car repair fund. One to replace your phones and computers. Another for home, health, and vehicle insurance deductibles. I would prioritize this one immediately. If you can save a bit more of a cash buffer for the unexpected, that's also very helpful. As a new homeowner, it takes time to build these up but you'll get there. Also, if you're in the process of saving and your fridge goes out and you're not 100% funded yet, you can pull from multiple buckets and go back to funding them. In a HYSA you will also earn more interest and get there faster. For routine maintenance like your HVAC tuneup service, oil change, or lawn care, I would factor that into the regular budget like a planned expense that month.

The biggest part of all this is to be proactive. Check, clean and maintain things before they break. Its like going to the doctor for a check up. Don't wait until you have an issue. Like people have been saying, use Youtube. I've installed fans and lights, repaired leaks and solved small problems simply by watching videos and googling. Additionally, ask a friend. If you know an electrician/plumber/HVAC technician etc., just ask for advice on how to maintain or problem solve before paying for an expert to take a look. Yes, there will be times you will need to call a pro, but if you stay on top of things and learn/teach yourself basic preventative maintenance, it will save you a fortune.

You’re asking good questions! In general do not be intimidated to fixed things yourself. Anything from faucets to furnaces can be maintained by you if you’re motivated. If you’re interested in energy efficiency I suggest having your attic assessed. This can be done by yourself, however, for a few thousand a contractor will come and remove the old insulation, seal cracks, and install new insulation. The payback can be just a few years. Look for energy efficiency incentives from state and federal agencies too.

Find a good, honest general contractor that can give you advice on what repairs and maintenance are needed and which can wait. Find only from direct references from friends that worked with them. It's way too easy to get ripped off by sales people pretending to be skilled trades.

I once read advice to allow something like 20% of your annual mortgage payment amount for home repairs/maintenance.

Looking at my records, I'd say that's about right. Most years we spend way less than that. But then we've had years where we spent $10K on a fixing major issue (painting exterior, replacing HVAC, etc.) so it averages out in that range. If you don't have a nice chunk of $$ set aside for irregular but inevitable events, you could be forced to make dumb money decisions.

Without a doubt, the single most important thing is preventive maintenance. Some things right off the top of my head:

• change the HVAC filter(s) every 30 days (adjust depending on seasonality, like if you don't use heat or A/C for a few months and they are separate systems, then you might be OK skipping the filter change when the systems isn't being actively used)
• if you have central A/C that has a drain line going from the air handler (inside the house or garage) to the outside, flush it every month; critters can get in the drain line and gunk can build up, which could cause the unit to dump water inside itself (and the cut off switches aren't super reliable in my experience)
• periodically check for leaks under all the sinks, behind toilets, near showers/bathtubs (include poking at the walls/floors in and around those areas, as softness in the wall/floors can indicate a hidden leak); I also really like the under-sink trays that you can get from Lowe's, Home Depot, Menard's, or Amazon that have a substantial lip and are meant to contain any leaks that might otherwise ruin the bottom panel of the cabinet (they are available in a variety of sizes depending on the size and configuration of the cabinet)
• periodically check the kitchen and bathroom caulking, around sinks, around fixtures, where walls meet counters, other walls, or bathtubs; it is much easier to do a minor touch up on the caulking when you notice a small hairline crack/opening (which always happens, as caulk dries and shrinks over time) than it is to let go for 5 or 10 years and have water getting in behind the wall
• if you have a garage door, clean and lube the moving parts every 6-12 months
• depending on the materials covering the exterior of your house, regularly check for cracks, separations, and other similar issues
• if you have gutters without leaf guards, make sure you clean them or have them cleaned regularly
• flush your water heater every year

There's lots more, but it really depends on what sorts of things you have in your house.