For months, you’ve been stuck in an endless search — scrolling through photos upon photos of house after house.
All this time, you’ve been looking for your first home. Your dream home. And now… you’ve found it.
Finally, it’s time to make the move, which means it’s also time to take these eight steps:
- Get a home inspection. Before you sign on any dotted lines, it’s important to get a home inspection. An inspector will look at the plumbing, heating, cooling, windows, foundation, roof, siding and electrical systems, and it will typically cost you between $250 and $500. (But it’s worth it, we promise.)
- Invest in home insurance. Buying your first house can be a costly process, but buying insurance is a step you shouldn’t skip. While you don’t necessarily need home insurance by law, most lenders will require you have it. What’s more, they’ll usually want you to have enough coverage to pay for the cost of totally rebuilding your home, just in case the worst were to happen.
- Consider any add-ons. Standard home insurance will cover the basics, but there could be more to think about. Ask your agent if there’s any other coverage you should consider. For example, if you own a home-based business or live in an area where earthquakes could occur, you may need additional coverage.
- Reevaluate your life insurance. With a new home comes a new bill to be paid each month… for a lot of months. If you’re married, you might end up wanting to leave more money to cover that cost.
- Take inventory. Appliances. Electronics. Clothing. Jewelry. Undeniably, your house is home to almost everything you own. Having a record of what’s inside and what it costs will come in handy if your home is ever damaged or robbed. And if you can keep the receipts in a safe space, you might have an even easier time getting your items replaced.
- Take pictures. It’s proactive and precautionary, but having photos of every room in your house could make a huge difference. If something happened to your home, you’d be able to show what was inside and what it looked like.
- Make sure any other coverage moves with you. Update any existing insurance, like auto or umbrella, to reflect your new address.
- Review your insurance every year. As time passes, your insurance needs may change. Any additions or updates could affect the cost of your coverage.
Need help navigating your home insurance needs? Find a local, independent agent near you.