10 Things to Do After Purchasing a Home

Once you are done with the closing and get the keys of your new house, just like most homeowners, you may think that with the end of exhausting home buying process, you can immediately get back to your usual routine. However, the fact of the matter is that the period that comes immediately following the closing is equally tiring. If you are also a new homeowner, who has just bought a new house, then here is the checklist of all the things that you would have to do.

1.  Follow-up on the utility transfer – Usually most homeowners start this process before the closing. If you still have to start with the task, then make sure you check for gas, water, electricity, cable/internet and other important paid utilities to ensure a proper transfer.

2.  Update your contact address with your financial companies – Contact your respective credit card firm to update your contact address on the record. This would make sure that your financial documents are not sent to your previous address, where you no longer stay.

3.  Update your voting information – Contact your election board to know how you can update your information. To save time, you can also consider visiting their website.

4.  Change your address on your driver’s license – Well, if you have moved across the state lines, then you must visit the website of the local motor vehicles department to know the entire process required to exchange a driver’s license. Normally there is a grace time period in which a person is permitted to drive even with old license, however after that period it would be considered as an illegal act if you continue using your old license.

5.  Meet your new neighbors – It is always a good idea to introduce yourself to your new neighbors. Remember, they would take care of your house whenever you would be away. So, even if they do not come to you to introduce themselves, do not hesitate to take the initiative.

6.  Set up the option for auto pay – If the bank where you have your account offers this facility then do make sure to benefit from it. It would help you to pay your monthly mortgage payments in hassle-free way. It would also help you to avoid missing the mortgage payments due to forgetfulness.

7.  Ease into the mortgage payment – It is always a good idea to ease into the mortgage payments by giving yourself some months for adjusting. For this little time period, make sure not to purchase expensive furniture, entertainment stuff or anything else, that may make it hard for you to pay the monthly installment of loan on time.

8.  Change your locks – Even if you trust your seller, you can never be 100% sure that they’ve handed over every duplicate house key. Even one undocumented key puts you at risk for a break-in, so as soon as the title is in your name, stop by a home supply store and purchase a new set of exterior locks for your home.

9.  Get your lawn on – With a new home comes a new adventure in lawn care and sidewalk maintenance, so make sure that you’ve got all the tools you need to keep your real estate investment up to code. At the very least, you should have a lawnmower for the spring and summer, rakes for the fall and snow shovels for the winter.

10.  Establish a budget and a schedule for your bills – After buying a home, you’ll have to find ways to handle all kinds of new monthly bills and payments, and if you want your credit score to stay safe, you’ll have to pay in full and on time. Set a day aside each month to sit down and pay every single one of your bills. If you’re the type of person that has a hard time getting organized, it might be a good idea to set up an escrow account with your lending agency. With these accounts, you simply deposit a lump sum of money every month. Your lender will make the individual payments on your behalf.

In short, if you think that after finalizing your home purchase you can sit back and relax, then you are completely wrong. It would at least take two or three months for you to completely settle in the new surroundings. So, use this checklist and get started with all the tasks that need to be wrapped up immediately after shifting to the new house.

10 Things to Do After Purchasing a Home


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1 Comment

  1. Great update. Thank you for this timely information.

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