So you’ve just bought a new home, signed the papers, moved all of your belongings, and have the keys in hand. Now what?! Other than just paying the bills to make sure it stays yours, what do you do next?
It’s extremely fulfilling to buy a new home and the process can be long and challenging, but the work doesn’t end there. There are many things you’ll need to do when you purchase a new home, including:
(1) Look at the structural areas of your home:
“Check out the integral parts that relate to the structure of your home. Chances are you’ve looked these things over during the viewings and home inspection, but it’s still good to familiarize yourself with these areas of your home early on. Take photos of the foundation of the condition when you moved in and document any areas you’d like to keep an eye on.
This will give you a good idea of how it might be deteriorating and failing. You can get an idea of how the weather impacts your home and what a timeline looks like for potentially having to replace or repair these things as well.
I work in foundation maintenance and repairs, so I always bring this up as an idea, but I’d also recommend doing this for your roof, windows, and more.”
Thanks to Victor Chirilas, Director at Mainmark UK, for submitting this.
(2) Consider your options for homeowners insurance:
“There are different elements of homeowners insurance to consider and there will be different price ranges depending on the company, the area you live in, the size of your home, and so much more. Frankly, there’s a lot to consider when purchasing homeowners insurance, and every element should be considered.
The things to consider include are: the reputation of the insurance company; the fine print in our homeowner’s insurance; the coverage for the most likely events to potentially happen to your home; different pricing estimates; coverage for your assets as well as home; and so much more.
Speak to experts, talk to friends who’ve done their research as well, and make the decision best for you.”
Thanks to Aaron Winston, Strategy Director for Express Legal Funding, for sending this in.
(3) Create a plan for potential upgrades:
“As soon as someone moves into a new home, I recommend they begin scoping out a plan for renovations and potential upgrades. I’m not saying to start right away, but at least make a plan. For example, you could even begin planning the potential roof replacement that is 5 years away or the need for new bathroom appliances. Without a plan, and without the motivation to stay on top of these things, it could get out of hand and, next thing you know, many years have passed without any work being done.
Then, life changes drastically and you consider putting the home on the market, but your home is severely outdated. That means you might not get as much on the market as you should and you’re missing out on a possible investment return.
Don’t fall into this behavior. Instead, begin making a plan and set some money aside for upgrades to your home. With a plan in place, you can keep on top of your aging home and you won’t miss anything crucial to the functionality and profitability of your home.”
Thanks to Kurtis Forster, Sales Representative for Nu-Vista Premiere Realty, for sharing this with us.
Moving is stressful and there are lots to consider, even after moving. While you do all of this and stay on top of what still has to be done, make sure you unwind and enjoy your new home. A lot of hard work went into getting here, so make sure you take those special moments to let it all sink in.