After you’ve bought your new house and you finally cross the threshold knowing that you are now walking into what could be your home for years to come, or what could be a great investment property, it’s important to realise that the journey doesn’t end there. The house is finally yours and there are things to organise. Read on to figure out what you should to as soon as you buy a home.

Change the Locks

Unless you’ve built your home, this is something you want to do as soon as possible. You don’t know how many people, family, friends, ex-boyfriends etc. have had the keys to the house, so it’s best to change the locks completely – which is also a good chance to even upgrade the security of your home. You can then go on and add a home security system if there isn’t one already installed.

Get It Managed

If you are going to rent the house, then organise property management through My Rental. It’s best to get onto this as soon as possible so that they can start doing their job and get money coming in within a short turnaround. You don’t want to leave it too late and miss out on weeks or months of income because you weren’t organised.

Test the Fire Alarms

Most of us consider fire alarms to be a pain in the behind, because we’ve all experienced the ongoing screeching of one when something burns in the kitchen, but they also save lives and are a legal requirement. For these reasons, check the fire/ smoke detectors and make sure they are operational. If you feel you need to install more around the house, then definitely do that.

Clean It Up

Before you move in, or organise an open home, then get the house professionally cleaned. Even if the last residents cleaned it, the property may have months of dust and dirt between that clean and the date you move in. It’s best to get the job done professionally so that it is a deep, thorough clean.

Set Up Utilities

Set up all your utilities, internet, cable tv if you want it, and see what else might need fixing by trades professionals. Get it all done in one big lot to minimise the disturbance caused by having workmen coming in and out of your home to set things up and fix things. If you can schedule them in over the course of a few days, it will feel much more productive than having one a week or month and having to take time out of your day to wait for and assist them.

Meet the Neighbours

Even though this bit of initial socialising will be forced and feel like a pain, it’s actually a great idea to get out soon after moving in and introduce yourselves to the neighbours, especially if you will be looking in on them and seeing them everyday. Neighbours can also introduce you to the best restaurants and cafes in the area and let you know all about community events. Having someone looking out for you, and who knows you is beneficial, and you never know when or how a neighbour might help you out.

Save Your Docs

Hang on to all your home and mortgage documents and keep them in a safe place, ensuring you have everything stored and sorted together and in a safe place. That way, you can be sure that important information is available when and where you need it most.

Get organised and enjoy the thrill of finally owning your new home. Just remember, it pays to be organised and get on top of these errands as soon as you can to avoid any unnecessary issues down the track.

Once you have a consistent job with a comfortable paycheck, you may be excited about getting into your first home. You may do some research online to determine how much you think you can afford to pay each month. Unfortunately, too many people rush into home ownership without fully understanding the cost of owning property. Protect yourself from rushing into something you can’t afford by checking the following expenses against your budget.

1. Mortgage Payments and Mortgage Insurance

It isn’t too hard to come up with a monthly mortgage payment estimate. There are plenty of online mortgage calculators to help you come up with the monthly payments you’ll make based on the amount you borrow, the anticipated interest rate (influenced by your credit score), and the length of the mortgage. This is just the tip of your expenses, however. If you have less than 20% of the home’s price ready to invest, you’ll be required to pay private mortgage insurance. This protects the lender in case you aren’t able to continue making your payments.

2. Homeowners Insurance

It’s hard to overestimate the importance of homeowners insurance. This coverage protects you from many situations, such as replacement costs following a burglary or repair costs after heavy winds have blown tiles from the roof. It may also cover costs associated with damages that your pets have caused to visitors or injuries that a visiting salesperson sustained when tripping on your front steps. If you live in an area where flooding is likely, consider adding a flood insurance policy.

3. Real Estate or Property Taxes

Your local government will probably charge taxes to cover public expenses. Your tax dollars are often used to pay for public schools, sidewalks, neighborhood parks, and similar public services. Before you buy a property, ask the real estate agent for current annual tax amounts.

4. Remodeling or Home Improvement Costs

As you walk through houses, you may find some that have lots of potential. If you find your dream layout, for example, you may need to factor in the costs of repainting and replacing flooring. If you’re serious about purchasing a home that needs a lot of work, be sure to create a budget for those repairs and factor those costs into your monthly payments.

5. City and Utility Bills

No matter where you choose to live, you’re going to end up paying for services such as garbage disposal and water. Communities determine how much and how these amounts are paid, so these costs may be more expensive than where you’re currently living. You’ll also need to factor in the costs of heating and cooling the home, as well as paying for electricity and/or gas. In some places, you’ll need to arrange your own water access.

6. Routine Maintenance

Every home requires regular work and many of the tasks required to keep your home and property in good condition require some financial investment. For example, you’ll need to pay for a lawnmower to keep the condition of your property within city ordinances. The appliances in the home will need routine inspections and preventative care, such as cleaning out the dryer hose and replacing filters on the heater. These costs could be higher if you need to hire professionals to complete the tasks. Buying a home of your own is an exciting step. Make sure you feel good about that step for many years to come by appropriately establishing what you can afford. Be sure to include all of the costs associated with making the actual purchase, the price you’ll pay for routine utilities, and the expenses of maintaining an attractive home and property. When you do this budgeting upfront, you’re more likely to have a long, satisfying experience as a homeowner.