Buying and selling a house is a busy and exciting time. After your purchase there are several important actions, you should tick off your checklist to make sure everything is properly in order. Here is what you should consider after completing your home purchase:
1. Update or create your Will
If you didn’t already have a will, now is the time to put one in place. If you already have one, you will need to update it to include your new property. Your home is a significant asset, and it is important to ensure it is dealt with according to your wishes if anything happens to you. We can assist with this if needed and can refer you to our Wills and Probate team.
2. Register for council tax
Make sure you notify your local council that you have moved into your new property. If you live alone, you may be eligible for a Single Person Discount of 25% off your council tax bill — but you usually need to apply for it specifically, and even if you had it on a previous property you will need to re-apply. If you have a new property your council tax bracket maybe estimated for several months in the first instance.
3. Update your address everywhere
There is a long list of organisations you’ll need to notify about your change of address many of these you will have done prior to moving. These include:
- Your bank and credit card providers
- Your employer (for payroll and pension records)
- Insurance companies (home, car, health, life)
- Utilities (gas, electricity, water, internet, TV licence)
- The DVLA (for your driving licence and vehicle logbook)
- Your doctor, dentist, and any other healthcare providers
- Vets and Microchip company.
- Schools and Nurseries
- Subscriptions, memberships, and loyalty programmes.
4. Check and update insurance
You should also review your life insurance and consider whether it needs increasing to account for your new mortgage.
5. Set up utility accounts
If you have not already, contact the utility providers to set up accounts in your name. Take meter readings on the day you move in and submit them to avoid being charged for previous occupiers’ usage. This applies to:
- Gas
- Electricity
- Water
- Broadband and telephone services
6. Change locks and check security
It is strongly advised to change the locks after moving into a new property. Also, check smoke alarms, carbon monoxide detectors, and any security systems are working correctly.
7. Budget for new home expenses
Remember that moving into a new home often comes with unexpected costs - from small repairs and maintenance to new furniture and appliances. It is a good idea to set aside some money for these expenses and prioritise what needs doing first.
8. Get to know your new area
Take time to familiarise yourself with your new neighbourhood, find out if they have a neighbourhood watch scheme. If you are new to the area research where local amenities are - supermarkets, doctors, vets, public transport links, etc. Check when bin collection days are.
This is not an exhaustive list but a good starting point.
Comments