Navigating the early stages of homeownership can be tricky. If you’ve only just taken your first steps onto the ladder, the process is all about multitasking while keeping stress to a minimum.
Every new homeowner wants to make their first few weeks and months as secure, efficient and enjoyable as possible. If you’re ready to underpin your first house move with a memorable experience, here’s how to get it right.
Secure the premises
When you first move in, it’s important to put your safety first.
We recommend changing all the external locks to make sure that you and your family members are the only ones with access to the property. This step is especially important if the house was recently rented or had multiple previous owners.
Additionally, it’s worth investing in a smart home security system. Some of the best home CCTV cameras not only include remote monitoring but serve as a visual deterrent too. At this stage, it’s also advisable to consider taking out a home insurance policy for peace of mind against unforeseen actions.
Understand your financial commitments
Homeownership brings various financial responsibilities beyond the initial burden of the mortgage!
It’s time to get familiar with unavoidable expenses like council tax, utility bills, and any service charges that might apply to your property. For example, certain apartment blocks are subject to ground charges and more. In the UK, properties are categorised by council tax bands, which will also influence its affordability for you and your family.
With potential fluctuations in interest rates, it’s crucial to budget accordingly. However, the Financial Conduct Authority intends to ease mortgage rules to allow more people to borrow money for a home.
Plan for maintenance and repairs
Regular maintenance is critical if you’re serious about preserving your property’s value. It means keeping an eye on your appliances and fittings, avoiding costly repairs and keeping everything in good working order.
Starting out can be tricky, so it’s worth getting organised. Create a schedule for routine tasks, which may include:
- Boiler servicing
- Gutter clearing
- Gardening, including cutting the grass
- Driveway washing
- Window cleaning
Setting aside an emergency fund may also be worthwhile. If you face unexpected losses or have some acute issues with the house, this will ensure that your regular costs will still be covered.
Stay informed on the laws
Finally, don’t forget to keep aware of any legal obligations that you might face – or any environmental factors that could affect your property and the time you spend living there.
For example, recent flood warnings in the UK have highlighted the importance of understanding the risk, especially if you’ve bought a property in a low-lying area. Don’t forget that changes in property laws, such as leasehold reforms, may impact your responsibilities as a homeowner.
If you’re ever unsure, don’t hesitate to seek advice from a representative of your local council or governing body.
By proactively addressing these integral areas, new homeowners can establish solid foundations for a safe, secure and comfortable living environment.
