New Homeowner: Where to Begin
Owning a new home is exciting, creates a sense of personal pride, and allows you to create a great life foundation for you and family. You have been through the process of getting this far with collaboration between your real estate agent, mortgage lender, and other service providers. There has been a good amount of work put into getting you into this home, yet it seems like the journey is just beginning. Whether this is your first home or not, you do not want to overlook important aspects of being a new homeowner.
Logistics of Owning a Home
Owning a home entitles you to freedom and supports the independence of you and your family. There are a lot of moving parts involved in protecting your asset as a new homeowner.
- Mortgage Payment
- Home Insurance
- Property Taxes
If this is your first mortgage on a home you may have questions about what these three things are and how they will be paid. Your mortgage payment is the payment that you and your lender discussed and agreed upon before the close of your home. Home insurance can be covered by the same provider for your car insurance most the time, and can vary depending on the size of your home and coverage desired. Property taxes will be determined by the location of your home; county, city, community, etc.
Thankfully, your mortgage lender will take these three payments for your mortgage, home insurance, and taxes and compile them into one monthly payment. That one monthly payment can be made through direct deposit and be setup automatically to be taken out of your bank account. I would recommend setting this up with your mortgage lender so you don’t miss a payment.
New Homeowner Move-In Checklist
Before moving into your new home you may or may not have decided to take on needed repair or renovation projects. Making the house feel like a home is often achieved by adding your own personal touches. This could be done by updating parts of the home, painting, or simply putting down a new doormat. Here is a list of other items that will need to be addressed as a new homeowner:
- Setup Utilities
- Change Door Locks
- Organize Items
Whether you live inside our outside city limits you will need to setup utilities such as water, sewer, trash, electricity, gas, internet, etc. Make sure to write down your account numbers for each utility and if available setup your online account to make payment quick and simple. Changing the door locks on your new home is a great security measure to keep your home safe. Organizing boxes, items, etc can take some time but stick with it!
Keep Track of Home Systems
There are a list of systems that you may or may not have in your home to keep it running. These may include sprinkler system, pool systems, home security programs, heating and cooling, etc. Make sure that you fully understand how these work, and you set them to your preferences. If you have questions about these systems you may be able to contact the previous homeowner or a service provider for information.
As a new homeowner you take pride in your home and will want to make sure to maintain it for both aesthetics and value aspects of the home. Home value can be greatly affected by home maintenance or the lack thereof. This may be a great time to asses what tools or equipment you will need to acquire to maintain your home. This might include a lawnmower, rake, handyman tools, etc. One of our business partners, Spartan Home Inspections, has provided a maintenance checklist to new homeowners.
Owning a comes with many great benefits and its important to know how to protect your newly acquired asset. For any further questions, please feel free to contact us.