Buying your first-ever house is always exciting. Whether you’re twenty-two or fifty-two, it’s a milestone that will leave you feeling like a “proper” adult who owns something tangible and valuable. You should relish in it!
It’s important to remember that buying a home isn’t the end of your significant responsibilities. Sure, you may have secured the mortgage and signed the contract, but there are other things you should do that make a lot of sense. So, if you’ve recently bought your first home, here are four smart moves to make (that you might not yet have thought of).
1: Update Your Will
When was the last time you updated your last will and testament? Do you even have one yet? While the idea of dying might not be at the forefront of your mind (hopefully!), it’s always essential to have an updated will, especially if you have just invested in property. In the event of your passing, you want to know that your house goes where you want it to, whether that’s to your partner or children. If you already have a will, you can amend it by adding a codicil.
2: Get a House Valuation
Most people think about getting house valuations before selling a home – not once they’ve moved in! However, getting a house valuation has plenty of benefits once you have bought a new property. Getting an expert opinion on the house’s value is a great way to know its accurate worth, as it will take everything from market insights to potential issues. Plus, the valuation can give you an idea of any improvements that should be made after moving in. For example, it might highlight a plumbing issue that you should fix sooner rather than later.
3: Decorate Sooner Rather than Later
Buying a house takes a lot out of you. More than likely, the last thing you want to do is get out a paintbrush and start redecorating the place. It might be a good idea to do so sooner rather than later, though!
It will be much harder to decorate once all your stuff is on the property. Yes – you will want to get comfortable as soon as possible – but if you have changes you want to make, doing them early on will make it a much smoother process. You can even keep some furniture and household items in a storage unit while the renovations and decorating take place.
4: Start Building an Emergency Fund
You have just made a significant investment, so you might not be considering saving money yet. However, you should, as there are a lot of costs associated with owning a home, including maintenance and repairs. Start building an emergency fund, and you’ll be prepared for situations like these.
Of course, it’s also important to enjoy your new home. Buying a house is a fantastic milestone, so take it all in and have fun being a homeowner. You deserve it!