Moving into your first home can be described as nothing short of a whirlwind. It's rarely straightforward, but that's what makes it oh so much fun. Preparation starts long before you get the keys, but essential considerations can sometimes go out the window once you step foot in the house and start thinking about how you'd like to fill it.
Fear not, below you will find some handy tips that'll help you transition from a new homeowner to a comfortable and settled one.
Protecting Your Investment
Once you're in your home and settled, you can begin to think about protecting your investment. 85% of people have a home insurance policy because one, it just makes sense to have one, and two, most mortgage and home loan lenders demand a sufficient home insurance policy.
The home insurance policies it's advised to research are HO-3's and HO-5's.
Both of these please most mortgage lenders because they are comprehensive, meaning they cover a broad range of scenarios. Although there are some things not covered that you need to be aware of, mold is a prime example. Despite it being a problem for more than 50% of households in the US have – attributed to the fact that 70% of homes in the US are at risk of water damage – insurance rarely covers it. Shop around and see which insurers cover the risks you feel you're most exposed to.
If you know your home is at risk of water damage, you might want to take the time to find a policy that covers mold damage. Don't get mold damage confused with dwelling damage – they fall under different categories.
Every new homeowner has to go through the most stressful part of becoming a homeowner, and that's moving in. The process of moving in can be long, arduous, and expensive. Consider comparing the price of a moving company compared to the cost of hiring a van. Some first-time homeowners with fewer possessions will find it's cheaper to hire a van than it is a company. Plus, if you have few possessions, it makes sense to move things yourself.
Some people prefer to move in stages. Moving at a slower rate can help compartmentalize the things that need doing, rather than feeling as though there's one giant task at home. You might want to paint the house before you move the furniture in, for example. If you have another place to stay for a week while you slowly acclimatize and move things in, you'll find the whole process far less stressful.
Most people will also recommend that you plan, plan, and plan some better in advance.
Everything from booking a moving company to buying furniture is better done in advance. Why? Well, moving companies are typically booked up weeks in advance, and if you want to order new furniture, it often takes weeks to come. You should be able to gauge what you can buy on the day and what needs more time to sort. It's easy to pop into a store to buy a TV, but not always easy to move a super king bed from A to B.
Next on the list of things to do is set up the household bills. Don't let it stress you too much – the process is actually pretty easy, thanks to the internet. There's no need to wait in line on a call to an advisor; online chat services make purchasing policies online easier than ever. Plus, it's easier to see the difference between different policies. Articles like this will help you get a better understanding of the bills you need to set up.
It's rare for people to move into a home without having visions of how to change it. Most experts recommend you begin any home improvements or big renovation jobs before you properly move into the home. It can be disrupting to move into the house and settle, and then have to uproot again a few months later because you want the kitchen or bathroom renovated.
Additionally, consider the home improvements that will increase the value of your home in the long term. Some home improvements, such as solar panels, double garages, and attic conversions, are all great ways of adding value to your home, should you consider selling it in the future. Similarly, kitchen and bathroom renovations will also increase the value of your home. Not only is value an essential factor, but your comfort and how you feel in your home will also improve.
Moving into your first home is an experience that you will remember forever. Although some people will say it's stressful, the excitement of the unknown and the adventures to come isn't the same the second or third time around. Utilize the tools mentioned above to help make the transition into your new home far easier.