What to Do After Closing on a House?

Buying a home is a significant personal and financial achievement. While closing marks the official transfer of ownership, it also begins a new phase of responsibilities. A smooth transition into homeownership requires practical steps immediately after closing to ensure security, establish essential services, and manage financial obligations. This guide outlines a roadmap for navigating these initial post-closing actions.

Initial Home Setup

Changing all exterior door locks is a primary step, as previous owners, real estate agents, or contractors may still possess keys. Homeowners can hire a locksmith or replace the locksets themselves. If there is an automatic garage door opener, obtain all remote openers and change the keypad code.

Establishing essential utility services is another immediate necessity. Transfer existing services like electricity, gas, and water into your name, or set up new accounts if services were disconnected. Contact utility companies and schedule services to begin the day before move-in to avoid interruptions. Also contact service providers for cable, internet, and trash collection.

Set up mail forwarding through the United States Postal Service (USPS). This can be done online or in person at a local post office. Mail forwarding begins within 7-10 business days and can last for up to 12 months for First-Class Mail, allowing time to update addresses with various senders.

Assess the home’s overall security. Ensure all windows and doors lock properly and consider basic security measures. Explore options like smart home devices or professional monitoring services. A thorough initial walk-through and inspection of the property after moving in can help identify any issues or damages that may have occurred during the move-out process.

Managing Financial and Official Records

Understand the mortgage payment structure. The first mortgage payment is due on the first day of the second full month after closing. For example, if closing occurs on June 23, the first payment would be due on August 1. Locate your mortgage servicer’s contact information on the closing disclosure or welcome packet to set up payments.

Review the mortgage statement to understand its components. A monthly payment includes principal, interest, and amounts for an escrow account covering property taxes and homeowners insurance premiums. Principal reduces the loan balance, while interest is the cost of borrowing. The escrow portion manages large annual tax and insurance bills through smaller monthly contributions.

Property taxes are commonly handled through an escrow account, where the lender collects a portion with each mortgage payment and pays the taxes when due. In some cases, homeowners may pay property taxes directly to the local taxing authority. Confirm whether taxes are escrowed or paid directly and understand the assessment and payment schedule to avoid penalties.

Review the homeowners insurance policy to confirm coverage limits and ensure all necessary riders, such as flood or earthquake insurance, are in place if applicable. Store policy documents securely. While the policy may be paid through escrow, you can change insurers or review coverage at any time.

Organize and securely store closing documents for future reference, tax purposes, and potential resale. These include the deed, title policy, closing disclosure, and appraisal report. Create a dedicated home file, physical or digital, for these and other financial records to maintain order and accessibility.

Update official addresses with various institutions to prevent missed communications. This includes updating a driver’s license or state identification, vehicle registration, and notifying banks, credit card companies, and voter registration offices. Many updates can be completed online or require a visit to a local department of motor vehicles.

Establishing Home Maintenance Routines

Establish a proactive home maintenance schedule to preserve the property’s condition and functionality. Plan for regular seasonal and annual tasks, such as replacing HVAC filters, cleaning gutters, inspecting the roof for damage, and testing smoke and carbon monoxide detectors. Create recurring calendar reminders to ensure these items are not overlooked.

Familiarize yourself with your home’s critical systems. Locate the main water shut-off valve, the electrical panel (breaker box), and the water heater. Understanding how to operate these systems can prevent extensive damage or facilitate quicker repairs during unforeseen events.

Gather and organize appliance manuals and warranties for future reference. These documents provide information for troubleshooting, maintenance, and potential warranty claims if an appliance malfunctions. Registering new appliances with the manufacturer can activate warranty coverage and provide updates on product recalls.

Assemble a list of reliable local professionals. This list should include contacts for plumbers, electricians, and HVAC technicians, along with any other specialists relevant to the home’s specific systems or features. Having these contacts readily available can save time and reduce stress when unexpected repairs or emergencies arise.