You’ve got the Keys to your New Home!! What Now?
So, you have finally fulfilled your dream of owning a home and have just closed the deal. Congratulations!! What next?? Well, believe it or not, this is a request that haunts most of the first time home buyers. Though it is okay to make a few silly mistakes in the beginning, it is important to ensure that you do not overlook some really crucial pointers.
Wondering what these are? Take a look here.
Copies of the Original Deed Document: The deed document that you got at the closing of the deal is really worth a lot of money. Without these documents you cannot prove that you are the owner of the house. Also, these will come in handy at a later date when you may want to sell the house. So, first things first, get copies made of this document. Make sure that all the pages are copied and it would be wise to have more than two copies made for your reference.
Safekeeping the Originals: You have put your hard-earned money into this new home and the only thing to prove it is the original deed document. Thus, you have to keep it safe and secure. Most people prefer to place this in their safe deposit box. In case, you already have one go ahead and place these documents there. On the other hand, if you do not have a safe deposit box, request for one immediately. Keep the copies of the document at home. Lastly, you could always save a digital copy and store it in the cloud.
Checking the Utilities Status: There is no denying the fact that moving forward you will have to pay all the utility bills. However, the outstanding bills for the utilities on the day of closing and sometimes, till vacating the house, should be paid by the early occupants. In order to ensure that you are not left in a quandary, make sure to check out the status of the utility bills and request the seller to take care of these.
Saving for Unforeseen Repairs: Now that you are the proud owner of the house, you will be responsible for all repairs, big or small. It could be anything from replacing a broken window to repairing the roof. All these requires funds. So, as soon as you move into your new home, start putting up an emergency fund. This is what will steer you through all the unforeseen issues that may crop up now and then.
Getting Insurance: Since your home is one of the most valuable possessions, make sure to sign up for home insurance at the earliest opportunity. This will spare you undue stress while also covering your home from any untoward incidents like theft, fire and natural hazards.
It is also advisable to change the locks of your new home as someone may still have a copy of the keys that have been handed over to you. With these pointers in mind, you can be assured of having the time of your life while moving in and decorating your new home. So now that all the important things are sorted out, enjoy your new home with your family and get ready to make more memories.