First Time Homeowner? Our Top 10 Tips.
Category Expert Insight
First Time Homeowner? Our Top Ten Tips...
Owning your first home is one of life's greatest milestones. This should be a time to celebrate and plan settling in to your new, exciting life. But, as any homeowner will agree with, there are certain things you should consider before you move in. Seeff have compiled their top XXX tips for new homeowners to help make the move easier.
1. Home Insurance
Home insurance falls into two categories. Homeowners insurance protects the house itself - the bricks and mortar and immovable fixtures of the house. This will protect the house against potential loss in the event of a fire or other peril. If you had applied for financing for the property, it is almost certain that this would have been a requirement before the mortgage was approved. However, it is always wise to check this.
The second type of insurance is household insurance. This insurance protects the contents of your home - such as your television, kitchen equipment and all the other items you own that make the house a home. This is not a requirement from your bank. However, it is highly advisable to speak to a broker or insurance company about getting this in place. We often underestimate the replacement value of all the things we own.
We recently wrote an article explaining more about insurance. Click on the following link to read more. https://www.seeff.co.bw/news/home-insurance-protecting-your-assets/
2. File All Paperwork
This may sound obvious, but it is very important to keep all documentation relating to all aspects of your home. This will include all the documents from the house purchase and transfer, any insurance documentation and all manuals, warranties and receipts for appliances that you have in the home. It will just make your life easier if everything is stored in one place for when you may need to refer to a document. Palma Mokibe, Residential Sales Agent at Seeff Properties reiterates this, "always file important documents away in a safe place. If you need to make an insurance claim it is so much easier to know where to look for your paperwork. Additionally, it is a good idea to scan everything and keep as back up in the event you lose or misplace your hard copies."
3. Home Security
If you are not buying a new house, and before you move your valuables in, it is advisable to look at changing the main door locks. You have no idea who the previous owner or tenant may have given a set of keys to, and it would just be cautious to get the front door and back door locks changed. This is usually an easy and inexpensive process that could save you in the long run. Even though your estate agent will arrange for a key handover, you will not know for sure that there are no more sets in the hands of others. If the house has an electric gate, you can easily get the remotes reprogrammed.
On the topic of security, the home may have an alarm system already installed. Speak to the previous owner and ascertain if there is already security equipment in the home. You may need to get this transferred into your name or shop around and look for a new security monitoring company. It is also worthwhile looking around the neighbourhood to see who the popular security companies are in the area.
4. Complex Living
If you have bought your new home in a complex or in an apartment block, make sure that you are familiar with the body corporate rules. You would likely have received a copy when the house was transferred to your name, but if not, get a copy and understand what is and isn't acceptable in the complex. It is also important to find out what the access controls are for the complex, and if there is a shared security fee. This should be included in the monthly levies that are generally paid when living in a complex or estate, but just check.
5. Utilities Accounts
The water account should have been settled and handed over prior to the house transfer. If it wasn't done, attend to that as soon as possible. You don't want to be caught up in an argument over water bills. Likewise with the electricity meter. Even though it is likely to be a prepaid meter, just advise the corporation of the change of ownership of the property. It could save you unnecessary delays at a later stage if there is a need to prove that you are the owner of the property.
6. Know your Neighbours
Introducing yourself to your new neighbours is such an important aspect of moving into a new home. Not only can they give you insight in to living in the neighbourhood (such as garbage collection days or who is a good water delivery guy in the area) but it is always handy to know someone nearby in the event you need assistance. Lebe Kgosidialwa, Residential Agent at Seeff Properties advises that this could be a good idea even before you make an offer to buy your property. "These neighbours have sometimes lived in the neighbourhood for years and will know all manner of tips about the neighbourhood, especially if it is an area that you are unfamiliar with," she says.
7. New Lick of Paint
If the house needs to be repainted internally, try to get this done before you move in. There is nothing worse than trying to coordinate unpacking and settling in with painters trying to work around you and your boxes. Not only that, but the smell of paint could also take a day or two to go with plenty of ventilation. You don't want all your possessions lying around with all the doors and windows open.
8. Internet and TV Dish
As with security, speak to the previous owner to ascertain if there is already an internet connection to the house (possibly a fire line). Likewise with the television satellite dish. Is there one with the house? These aspects of the home will be more important to others and if you rely on connectivity, it may be a priority that you get this set up.
9. Plant Some Trees
This is just a bit of fun. You are lucky if the home comes with an established yard area. If not, try and plant a few trees as soon as possible after you move in. You will be surprised how quickly time passes before the trees start giving you some lovely shade. Just a word of warning... don't plan trees too close to the house or boundary walls.
10. Start a Home Fund
You may already be allocating much of your income to your mortgage repayments. However, it may be a good idea to try and start allocating a small amount of money (monthly) to a "home emergency fund". As a homeowner you are solely responsible if there is a burst geyser, the oven stops working, or if there is a tree that needs to be cut down. As a lump sum, these could be quite costly and much more manageable if you already have a small fund saved up for these events.
This is an amazing time for you (and possibly your family if you have one). With a little bit of preparation before you race in with your boxes and bags, the experience of being a homeowner can be much more enjoyable.
If you have any queries on this or would like to learn more about buying your first home with Seeff Properties, please contact the office on 393 9372.
Author: Seeff Properties Botswana
Author: Seeff Properties Botswana
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