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5 Things To Do When You Buy a House
You’ve got the keys to your new house. Congratulations! First of all, take a minute to celebrate. Take it all in. Exhale.
Okay, enough fun. There’s actually some immediate things to do when you first move in. The sooner you get them out of the way, the quicker you’ll settle into your new life. Here’s the funny bit: those keys you’ve been dreaming about? You’re about to throw them away. That’s the first thing on your to do list:
1. Change the Locks
This might come as a shock, especially if you’ve been renting your whole life. Your new place isn’t just some flat you’re living in; it’s your home, your property, your asset, and a major part of your retirement. It’s a financial investment you’ll likely sell one day. Taking good care of it means you’ll be spending less on maintenance and repairs. So protect it the best you can.
The very first thing to do is change locks. It’s not cheap, but it has to be done. Say you bought a two double bedroom in Manchester city centre. Just imagine how many previous tenants that place accommodated, and how many keys are still running around town. Change locks immediately.
2. Test All Appliances
Here’s the thing: It doesn’t matter how much you paid for your survey. One day there’s hot water, and then the next day…gone. The day you’re handed the keys you should run the water, turn on the heating, and test your smoke alarm. Batteries run out, boilers overheat, and water pressure drops for no apparent reason. One thing to do before you move is get some recommendations for electricians, handymen etc.
3. Get Insurance
If you’ve been renting up until now, your life probably looked like this: anything breaks down in the flat, and you’re on the phone to your landlord or agency. Your landlord was your insurance policy against most things. Well, no more: it’s all on you now.
The two main types of insurance are building insurance and content insurance. On top of that you might consider boiler care insurance, legal cover, and accidental damage insurance. Like travel insurance, it all depends on your personal circumstance: do you have any expensive valuables? Do you host often? All these things come into play when you set up your policy. I’d start here: Lemonade UK
4. Get on the Electoral Roll
Getting on the electoral roll acts as your proof of address in the UK: It’s essential for opening bank accounts, being approved for credit, and all things property. It’s also just a basic civic duty even if you don’t vote or plan on voting (although you definitely should!).
A lot of people aren’t aware just how important it is for obtaining credit. You could have a perfect credit history with no hard searches on your file, and still be rejected. Not being a on the electoral roll is credit score suicide. Often times, it’s the missing piece of the puzzle.
Pro tip: follow it up. It takes about 4-5 weeks for it to show on your credit file. Make sure you’re registered successfully, and ask for confirmation over email if necessary.
5. Update Banks, Bills, and Deliveries
In the UK housing market, the deal doesn’t close until the very last day. With that in mind, I don’t think you should update your address before you have the keys in your hands. Once you’re in, start updating your details everywhere: bank accounts, credit cards, water, electricity, broadband, and council tax.
And please don’t forget Amazon, eBay, medication or contact lenses! Only when we’re forced to update everything, we realise just how many service providers have our address. Take extra care not to order anything without double checking the address.
