Owning your own home has long been part of the American dream. It's a goal most of us rightfully aspire to, and one that can often help build wealth. Indeed, 64% of Americans own a home today. If'
Tips For Homeowners
Dated: September 6 2018
Buying A House: Now That You’re A Homeowner
As a homeowner, you’re in charge of the safety and security of your home; the payment of your bills and cleanliness/tidiness of your house. Running a house is like running a business. Take your responsibilities seriously and you’ll be successful and happy in your new place.
Here’s what you’ll be doing once you move in:
1. Clean Your House And Call An Exterminator
Your first act of homeownership is to make sure you start with a clean house. You don’t know the former residents and how they lived, and you probably don’t want to know either.
Hire a professional cleaning service that specializes in move-in cleaning jobs. Look online for house cleaning services or ask for recommendations from people you know. Steam cleaning and deep cleaning your new home are non-negotiable. Scrub every corner and clean every inch.
You’ll also want to schedule a pest control service. Every home has insects in its walls and you don't know how frequently the last homeowner had your house serviced. You don’t need to set quarterly service for your home just yet. Start with a one-time appointment and see where it takes you. Reputable exterminators can be scheduled online.
2. Replace Every Lock On Your House
Your next act of homeownership is safety-related. Change your locks. There are people around town who have keys to your place. The previous owner of your home may have used a dog walker, for example, and that walker has keys to your house. Or a contractor or a painter may have copies of your keys. The list is unlimited.
Regardless of whether you have the skills to change your locks yourself, hire a locksmith. This frees you up to talk with the movers, to get your boxes unpacked and maybe stop to eat some food. With a professional locksmith, you know the job will be done right.
3. Install Your Home Alarm System
Home security is important because break-ins can happen anywhere. In addition to new locks, you’ll want to install a proper home alarm system. Alarm systems are a deterrent to robbers and invasions. They keep the things safe that matter to you — people, pets, and possessions.
Today’s home security systems are also much less expensive when compared to old-school ones and offer a bunch more options. Today’s home security systems incorporate all of the following:
Doorbells with tiny, embedded cameras
Phone apps for remote home security management
Carbon monoxide sensors
Smoke detector sensors
Freezing water pipe sensors
Most new home alarm systems are now wireless too. This means they can be installed, tested, and working in less than 30 minutes without the help of a professional. You don’t even need a landline. Today’s home security systems operate using self-contained cellular networks.
But, if all these reasons aren’t enough, consider this: homes with alarm systems get discounts on their homeowners insurance. Homeowners pay less for homeowners insurance when they have a working home security system. The stronger your system, the less you’ll pay.
4. Inspect Your Major Appliances
As a homeowner, you are responsible for the maintenance and upkeep of your appliances. Start that upkeep straight away.
As soon as possible after moving in, have your Heating, Ventilation and Air Conditioning unit (HVAC) appliances inspected. If your technician recommends maintenance, have it done. The cost of a major repair or replacement will exceed the cost of routine maintenance.
Also, while the technician is onsite, ask to be shown where the shutoff switches are. Knowing where to find your home’s utility shutoff valves will come in handy during an emergency.
Inspect your home appliances at least once annually.
5. Find New Homeowner Discounts On Insurance
When you move to a new home, it’s an excellent opportunity to save money on car insurance.
Consider the following:
You’re living in a new home
You’re parking your car somewhere new
You’re older than the last time you applied for auto insurance
Your commute and average milage put on your car has changed
Each of these factors affect your car insurance rates, and now that you’ve moved you, may be paying too much.
You can also get new homeowner discounts from home improvement stores such as Lowe’s, from satellite services such as DirectTV and from home goods stores including Bed, Bath, & Beyond and Crate & Barrel.
You’re a new homeowner. Get those new homeowner discounts!
6. Know Which Addresses To Change When Moving
You’re in a new home, make sure your letters and your bills know where to find you.
The United States Postal Service makes it simple to update your mailing address with its official change of address form you can complete online. Specify the date on which mail should forward to your new home address. The postal service will send a confirmation message to you via email, and your mail will begin to forward as requested.
Then, to make extra sure you don’t miss your bills, here are some addresses to change when moving:
Student loan lenders
Credit card companies
Subscription delivery services
Insurance companies & banks
Don’t assume that your bills will find you. Be active in communicating your new address. You don’t want to miss payments and harm your credit score.
7. Establish Auto-Pay On Your Mortgage
Your home probably has a mortgage. Every month, your mortgage must be paid.
Whenever possible, opt to auto-pay. When you auto-pay your mortgage loan you help to protect your credit score. This is because on-time payments are the largest factor in your credit score and auto-pay is never late.
When your mortgage is paid on time, your credit score can climb. You’ll get access to the benefits of a high credit score including better rates on future loans and credit cards.
Putting your mortgage into auto-pay is easy.
Go to your mortgage lender’s website
Find the page to setup “auto-payment”
Give your name, address, loan number, and a link to your bank account
You’ll be asked to set a monthly payment date. Choose a date near the start of the month. This gives you time to recover from technical issues that may delay your payment and emergencies that deplete you of cash.
For example, if you choose the third day of the month to make your payments and on the third day of the month your bank account is short on cash, the bank will send you an alert which gives you time to fix it.
Doing a mortgage on auto-pay doesn’t excuse you from watching your bills. But, simple is always better. Auto-pay makes paying your mortgage simple.
Buy a ringed binder and keep insurance papers, repair receipts and all other paperwork pertaining to your house in it. Storing all your house information in one handy place makes life easier for you and can also benefit you when selling the house later.
Ivy League Realty
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