What to Do After Buying a Home: 3 Steps to Take   by Leslie R. Wright

 

Now that you’ve finally moved into the home of your dreams, life can begin. But not so fast… There are still several loose ends to tie up and issues that must be taken care of immediately after buying a property to protect yourself as a new homeowner.

If you’re wondering what to do after buying a home, you’ve come to the right place. Consider these three guidelines as necessary precautions to take after signing on the dotted line:

1. Change your locks. Even though you may have bought your house from a nice little old lady, the odds are that she passed out copies of her house key to friends, grandchildren, and even pet sitters while on vacation. To protect yourself and your family from day one, take the time to contact a locksmith and have a new set of keys made.

It’s also recommended to install deadbolts at main entry points if they are not already there. For a more affordable alternative to purchasing new locks, you can simply manually remove door locks and take them to the hardware store yourself to get them rekeyed.

2. Check your appliances. Most homes are sold with all major appliances, but you may be surprised to walk into your new property to find that the washer and dryer are missing. Unpleasant surprises can be avoided by reading your contract in advance before buying a home to determine exactly which appliances will stay and which will go.

From there, you can shop competitively online and locally for affordable appliances; if you’re on a tight budget, consider buying refurbished to keep costs low. If a house was sold with outdated, inefficient, or broken appliances, this is also the time to get major appliances replaced, like the stove, refrigerator, washer and dryer, and oven range.

3. Contact your insurance agent. If you’re a new homeowner, you can contact the Austin insurance company that currently provides your car insurance to get a price quote on homeowner’s insurance. You may be able to receive a discounted rate if you bundle your car and home insurance policies together. Nonetheless, it still pays to compare quotes on homeowner’s insurance from leading insurance providers to make sure that you get the best monthly rate. Experts recommend requesting a minimum of three quotes to find a competitive premium that will fit within your budget.

Last but not least, take the time to meet with your insurance agent to review your new homeowner’s insurance policy to determine exactly what it covers. There’s nothing worse than an unexpected surprise after a natural disaster or theft has occurred, where you find out that your valuables were not covered in full.

An ideal homeowner’s insurance policy will automatically cover your possessions based on roughly 75% of your home’s insured value, on average. If you have any rare or expensive items in your home, like artwork or jewelry, you may need to pay for additional coverage to insure valuables at a higher amount.