To Do After Buying A House

Dated: October 1 2016

Views: 573

You've bought your new home and moved in.  As you measure for curtains and plan future upgrades there are a few tasks that need to get on your “to do” list.  Here are 4 things that should be done in the first year:

1. Get your files in order. 
Now is the best time to tackle this task before they get lost.  You’ve received a lot of paperwork along the way that you’ll need to hold on to.  Some will be needed at tax time and others when you sell or rent your home.  Organize and file your paperwork early so that you’ll have easy access when the time comes.

2. Review Life Insurance Coverage.
  This is recommended anytime you have a major life event and buying a house qualifies.  You’ll want to be sure that you have sufficient coverage to meet your new needs.

3. Read your loan documents.  Take special note of payment due dates and late penalties.  This is not a waste of time.  You should familiarize yourself with the contents so that you know what your lender is holding you to.  Included are required disclosures to ensure that you know your rights. 
4. Update/Create your will.
  Just because you own your home does not mean that your heirs will inherit it.  State laws very on how property is handled when there is no will.  Be sure to meet with a qualified estate attorney to be sure your property is handled as you wish in the event of your untimely departure.

Do your best to get these done within 1 year of purchasing your new home.  Once it's done, it's done.

Blog author image

Candace Sparks

Candace is a full time agent with Keller Williams Realty Monmouth/Ocean serving Monmouth and Ocean Counties.....

Want to Advertise on this Site?

Latest Blog Posts

Why You Need A Real Estate Professional In Your Corner

In today’s fast-paced world where answers are a Google search away, there are some who may wonder what are the benefits of hiring a real estate professional to help them in their home search

Read More

Buying A Home Take Stock Of These Things

What are some of the most important factors that buyers take into consideration when looking for a new home? There are the obvious things like price, square footage, location and lot size. Those are

Read More

Millennial Home Buyers What You Need To Know

In the past, you’ve likely read about how the Millennial generation is opting to rent rather than buy property. While this still holds true for many Millennials, the fact is that a growing number

Read More

New Home Construction Boom Expected

The housing market has been trending in a positive direction and economic indicators point to new home construction going vertical. Following the housing bubble and sluggish post-recession,

Read More