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15 things all new homeowners should know

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Tammy Emineth

1) Create a homeowner binder with important paperwork, manuals, warranties, and contact information for utilities and repair professionals. 2) Start an emergency fund of at least $1000 for unexpected repairs like a new roof or furnace. 3) Understand utility costs and look for ways to reduce energy usage, such as lowering water heater temperature and replacing light bulbs with LEDs.

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15 Things All New Homeowners Should Do Whether this is your first house or your 10th house, moving into a new place does take a little bit of adjusting. You want to make sure you know your house and you want to make sure that its safe as well. Once youve completely moved out of your old place and youre into your new place, here are 15 things all new homeowners should do immediately or at least within the first week or so. #1. Create a homeowner binder. Theres a lot of paperwork involved in the purchasing process so its important to keep that information safe, but you also want to start a new binder with information youll need as a homeowner. This might be manuals to all the appliances in the house, warranties, moving expenses, tax-deductible receipts,
and a list of names and numbers for repair professionals. You may also want to write down information on your utilities such as natural gas or propane providers, electricity, water, city sewer, and garbage details. Write down when the garbage gets picked up and if there are different dates for composting, recycling, and trash. #2. Start an emergency fund. If this is your very first house, its important to have an emergency fund for things instead of putting things on credit cards. You never know when something is going to break so its important to have at least $1000 in savings and continue to build that up so that you will be able to immediately pay for something such as a new roof, new water heater, furnace, air-conditioning unit, or some other household need.
#3. Understand all of your utility costs. Pay attention to your energy usage and keep a bill for every energy source in that homeowners binder. To lower or reduce energy costs consider lowering your water heaters thermostat temperature to 120属. Every time you make a trip to the hardware store by one or two LED lights and switch out any older light bulbs for more energy-efficient options. Keep the refrigerator far away from the oven so that the oven doesnt heat up the side of your refrigerator. Consider a home energy audit through your utility company to really cut back on energy costs.
#4. Locate and know where shut off valves are. Make sure you know where your water valve is and how to turn it off, your electrical box and how to cut the power to the house, and how to turn off any propane or natural gas in case of an emergency. Its also a good idea to turn off your main water valve whenever you leave on vacation to prevent flooding if something should go wrong. #5. Replace your furnace filter. As soon as you move in you should replace the furnace in your filter. This is a cheap and easy fix and you may have no idea the last time it was replaced.
#6. Press the reset button on GFCI outlets. Make sure you understand where all of your GFCI outlets are, typically in a bathroom or kitchen and that they are all working correctly. Test any and all outlets so you know whats working, what may be hooked up to a light switch, or what youll need to fix. #7. Check any toilets and sinks for leaks. Your home inspector probably did this for you but its a good idea to double check it as soon as you move in. Do a survey of all the plumbing in your home before you settle in and if you find a toilet running, a leak somewhere, or a drip, make sure you get those repaired or replaced immediately before mold sets in and you waste money.
Related Post: Why you should never waive the home inspection #8. Change the locks. You never know who has the key to your house so its just a good idea to change the locks on the door and set up a security system or put the security system in your name. If you have a key for your mailbox, ask what it would take to change that lock as well to protect your mail as well. #9. Know where the light switches are for every room and put a dab of glow-in-the-dark paint on each. This little hack will really be a lifesaver in the middle of the night when you have to get up and you cant remember where the light switch was for certain rooms.
Just a little bit of glow-in-the-dark paint that cannot be seen unless its dark on each light switch will be a great way to find lights when you need it. #10. Know exactly where your mortgage payment goes each month. Buying a new house can be fun because you usually get to skip one or two months of payments, but in that time, your mortgage company could actually sell your mortgage to one or two other companies. Its important to know that when the time comes for your payment, you send it to the right place. There are also a lot of scams that happen right after a refinance or closing because its public information that you have purchased a home, so if anything sounds fishy or if someone calls pretending to be your mortgage broker asking for personal information, get a phone number and call them back or call your real estate agent or original lender or loan officer to verify their validity.
#11. Make a list of all new tools you will need. If youre moving from an apartment to a single-family house, you may now have a lawn to take care of. Make a list of items that you might need such as household tools, a toolbox, lawnmower, rakes, shovels, and other maintenance items that you may not have had a need for prior to this home. Other items that are handy include measuring tapes, hammer, drills, a ladder, and a stud finder. Related: 10 Ways to Make a Small Space Seem Larger #12. Get to know your neighbors. In neighborhoods where people primarily park in the garage it can be difficult to get to know your neighbors, but a neighborhood walk in the evening, or if youre playing with your dog or your kids in the front lawn may be a good way to get to
know your neighbors. Ask them about the schools, commute routes, shortcuts, or anything specific that they think would be good for you to know. You might even find a good babysitter, dog walker, or house sitter. Read More: Practical Advice for First Time Land Buyer #13. Start a list of projects you might want to complete. Dont start any major projects the first six months of a new house unless you specifically purchase the house to make those changes. Home improvement projects can be very expensive so avoid completing unnecessary projects unless the house is not livable. Waiting just a few months to make any huge changes can allow you to get a better feel for your home and put your priorities in order. Make a list of small projects and complete one project at a time. #14. Dont forget tax benefits of homeownership. Some states and counties have energy tax credits, which means that homeowners who made energy-based improvements to their home could be eligible to receive a tax credit. Individual states or cities can offer more benefits and keep track of your sales tax, property tax, any mortgage insurance premiums, and interest from your mortgage as they can be helpful deductions during tax time. More: Best Financial Advice for Home Buyers
#15. Get a good sense of your location. Make sure you know where the closest medical facility is, coffee shop, the library, gas stations, banks, grocery stores, and any other business that you might frequent. Take a look at an online map of your neighborhood so you can see where nearby parks are and the proximity to schools or freeways. Check out this additional information for new homeowners from the resources below. First Time Home Buying Advice for Newlyweds How to Build Simple Habits for a Cleaner Home 5 Things That Can Affect Your Homeowners Insurance
Easy Cleaning Hacks Youll Want to Remember

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15 things all new homeowners should know

  • 1. 15 Things All New Homeowners Should Do Whether this is your first house or your 10th house, moving into a new place does take a little bit of adjusting. You want to make sure you know your house and you want to make sure that its safe as well. Once youve completely moved out of your old place and youre into your new place, here are 15 things all new homeowners should do immediately or at least within the first week or so. #1. Create a homeowner binder. Theres a lot of paperwork involved in the purchasing process so its important to keep that information safe, but you also want to start a new binder with information youll need as a homeowner. This might be manuals to all the appliances in the house, warranties, moving expenses, tax-deductible receipts,
  • 2. and a list of names and numbers for repair professionals. You may also want to write down information on your utilities such as natural gas or propane providers, electricity, water, city sewer, and garbage details. Write down when the garbage gets picked up and if there are different dates for composting, recycling, and trash. #2. Start an emergency fund. If this is your very first house, its important to have an emergency fund for things instead of putting things on credit cards. You never know when something is going to break so its important to have at least $1000 in savings and continue to build that up so that you will be able to immediately pay for something such as a new roof, new water heater, furnace, air-conditioning unit, or some other household need.
  • 3. #3. Understand all of your utility costs. Pay attention to your energy usage and keep a bill for every energy source in that homeowners binder. To lower or reduce energy costs consider lowering your water heaters thermostat temperature to 120属. Every time you make a trip to the hardware store by one or two LED lights and switch out any older light bulbs for more energy-efficient options. Keep the refrigerator far away from the oven so that the oven doesnt heat up the side of your refrigerator. Consider a home energy audit through your utility company to really cut back on energy costs.
  • 4. #4. Locate and know where shut off valves are. Make sure you know where your water valve is and how to turn it off, your electrical box and how to cut the power to the house, and how to turn off any propane or natural gas in case of an emergency. Its also a good idea to turn off your main water valve whenever you leave on vacation to prevent flooding if something should go wrong. #5. Replace your furnace filter. As soon as you move in you should replace the furnace in your filter. This is a cheap and easy fix and you may have no idea the last time it was replaced.
  • 5. #6. Press the reset button on GFCI outlets. Make sure you understand where all of your GFCI outlets are, typically in a bathroom or kitchen and that they are all working correctly. Test any and all outlets so you know whats working, what may be hooked up to a light switch, or what youll need to fix. #7. Check any toilets and sinks for leaks. Your home inspector probably did this for you but its a good idea to double check it as soon as you move in. Do a survey of all the plumbing in your home before you settle in and if you find a toilet running, a leak somewhere, or a drip, make sure you get those repaired or replaced immediately before mold sets in and you waste money.
  • 6. Related Post: Why you should never waive the home inspection #8. Change the locks. You never know who has the key to your house so its just a good idea to change the locks on the door and set up a security system or put the security system in your name. If you have a key for your mailbox, ask what it would take to change that lock as well to protect your mail as well. #9. Know where the light switches are for every room and put a dab of glow-in-the-dark paint on each. This little hack will really be a lifesaver in the middle of the night when you have to get up and you cant remember where the light switch was for certain rooms.
  • 7. Just a little bit of glow-in-the-dark paint that cannot be seen unless its dark on each light switch will be a great way to find lights when you need it. #10. Know exactly where your mortgage payment goes each month. Buying a new house can be fun because you usually get to skip one or two months of payments, but in that time, your mortgage company could actually sell your mortgage to one or two other companies. Its important to know that when the time comes for your payment, you send it to the right place. There are also a lot of scams that happen right after a refinance or closing because its public information that you have purchased a home, so if anything sounds fishy or if someone calls pretending to be your mortgage broker asking for personal information, get a phone number and call them back or call your real estate agent or original lender or loan officer to verify their validity.
  • 8. #11. Make a list of all new tools you will need. If youre moving from an apartment to a single-family house, you may now have a lawn to take care of. Make a list of items that you might need such as household tools, a toolbox, lawnmower, rakes, shovels, and other maintenance items that you may not have had a need for prior to this home. Other items that are handy include measuring tapes, hammer, drills, a ladder, and a stud finder. Related: 10 Ways to Make a Small Space Seem Larger #12. Get to know your neighbors. In neighborhoods where people primarily park in the garage it can be difficult to get to know your neighbors, but a neighborhood walk in the evening, or if youre playing with your dog or your kids in the front lawn may be a good way to get to
  • 9. know your neighbors. Ask them about the schools, commute routes, shortcuts, or anything specific that they think would be good for you to know. You might even find a good babysitter, dog walker, or house sitter. Read More: Practical Advice for First Time Land Buyer #13. Start a list of projects you might want to complete. Dont start any major projects the first six months of a new house unless you specifically purchase the house to make those changes. Home improvement projects can be very expensive so avoid completing unnecessary projects unless the house is not livable. Waiting just a few months to make any huge changes can allow you to get a better feel for your home and put your priorities in order. Make a list of small projects and complete one project at a time. #14. Dont forget tax benefits of homeownership. Some states and counties have energy tax credits, which means that homeowners who made energy-based improvements to their home could be eligible to receive a tax credit. Individual states or cities can offer more benefits and keep track of your sales tax, property tax, any mortgage insurance premiums, and interest from your mortgage as they can be helpful deductions during tax time. More: Best Financial Advice for Home Buyers
  • 10. #15. Get a good sense of your location. Make sure you know where the closest medical facility is, coffee shop, the library, gas stations, banks, grocery stores, and any other business that you might frequent. Take a look at an online map of your neighborhood so you can see where nearby parks are and the proximity to schools or freeways. Check out this additional information for new homeowners from the resources below. First Time Home Buying Advice for Newlyweds How to Build Simple Habits for a Cleaner Home 5 Things That Can Affect Your Homeowners Insurance
  • 11. Easy Cleaning Hacks Youll Want to Remember