First of all, congratulations! You have just bought a house! This is a huge accomplishment. A home is likely the most expensive thing you will ever purchase, and it comes with a lot of responsibility. Now that you have signed on the dotted line and have the keys in hand, it is time to start making your house a home. But before you can do that, there are a few things you need to take care of. From sorting out home insurance and a warranty to setting up your utilities and changing the locks, here are 7 things you need to do if you just bought a house.
1. Get Homeowner’s Insurance
Getting homeowner’s insurance is an essential step for any new homeowner. While many lenders will ask for it before approving a mortgage loan, homeowner’s insurance protects you and your family from financial loss and other risks caused by unexpected events like fire, theft, and weather-related damage.
And as broken down in a piece on iSelect house and contents insurance page, there are various types of policies to choose from depending on factors such as the type of dwelling you own, size, and location. Prices, premiums, and terms can also vary greatly between companies, making it crucial to shop around before settling on a policy from a particular carrier.
2. Get a Home Warranty
A home warranty is a service that covers the repair or replacement of major systems and appliances in your home. These services can be very expensive, but with a home warranty, a homeowner can protect their systems, such as air conditioning, and their financial security.
A home warranty can be as low as $40 a month and can provide peace of mind to homeowners. Whether you're in Florida, Texas or Arizona, it makes sense to consider buying a policy. Most home warranty companies for Arizona residents offer one-year warranties that can be renewed annually. Home warranties can provide peace of mind to homeowners, especially those who have an older home or live in an area with unreliable contractors.
3. Inspect the Home
As a new homeowner, one of the first things you should do is walk through your home and take note of any immediate repairs that need to be made. Make a list of these items and prioritize them based on urgency.
For instance, fixing a hole in the bathroom wall will take priority over painting your bedrooms. Make a list of jobs and sort them into a logical order.
4. Locate the Important Switches
Moreover, take this opportunity to familiarize yourself with your home’s features and layout. Locate all the master switches, water shut-offs, electricity meters, and other important elements. This will come in handy if you ever need to make any repairs or adjustments yourself, or if you need to turn off the water or electricity due to a storm or another unforeseen situation.
5. Assess The Energy Efficiency
What’s more, you should use this time to assess your home’s energy efficiency. Look for ways to add insulation, seal up drafts, and improve the overall efficiency of your home. Adding carpets or heavy curtains can keep your home warmer in winter, while blinds can keep the heat out in summer. These simple measures can save you money on your energy bills in the long run.
6. Set Up Utilities
If you have just bought your house, there are some things you need to do to get the utilities up and running. First, you will need to contact local utility companies and set up accounts for electricity, gas, water, and trash service.
You will also need to decide who will be responsible for paying the bills each month if you share the home. Once the accounts are set up, you then need to figure out how to connect the utilities to your new home. This may involve hiring a professional or doing it yourself.
7. Change the Locks
Last but certainly not least, it is always recommended that you change the locks when you buy a new house. This is just in case the old owners or anyone they ever gave a key to still has one.
Even if you trust the old owners completely, which would be odd unless they are close friends, you never know who could have made a copy of the keys in the past.
This has been a list of 7 things you need to do when you buy a home. Starting with getting homeowner’s insurance and a home warranty, you will need to protect your new home and its systems and appliances from damage and expensive repairs. Then, you can inspect the home for repairs and locate all the important switches. Moreover, you will need to assess the energy efficiency, set up utilities, and change the locks. This is the ultimate guide to a smooth transition into your new home.