I recently worked with a young family buying their first home. I remember that point in my life and how uncertain I was about the entire process. I was afraid I would make the wrong decisions for my family. So, I worked hard to watch out for their interests as I would my own. I held their hand all the way through the process and gave them tips along the way. The information I gave them is good for anyone purchasing a home. Below are items you need to consider in the home purchase process.
1. File your Home Stead Exemption at the court house.
If you live in the home, you need to file the Homestead Exemption. The Homestead Exemption means it will be your primary residence and then property taxes are cut in half. The exemption provides a few other benefits. The biggest one would be instate college tuition. At most colleges tuition is twice as much for out of state students.
2. License Plates and Titles
By law you must have local license plates. They must be purchased in the county you reside. You have 30 days from the point you move in to register your vehicles. If you are moving from out of state you will need to apply for titles on each vehicle. They must all have Alabama Titles.
3. Driver's License
Don't forget about that little plastic card with your picture on it. This is another state requirement similar to your license plates. You have 30 days to get a new driver's license. Even if you are only moving one block, by law, your license should have your current address.
4. Address Change
Whether you are moving here from out of state or just across town don't forget to change your address on the following important things:
Insurance
Driver's License
License Plates
Cell Phone Service
Banking Information
5. Forward mail from previous address:
The USPS has a form you need to complete online. (click here)
It is very important for those little things you forget. You might have a special magazine or publication you want to continue getting. Friends or family may send you special invitations. You will have friends and extended family who will not know you moved. The postal service will forward your mail for up to one year. After the one year period they return the mail to sender.
6. Insure your New Home:
Make arrangements to insure your new home. Insurance should be in place before you move in. Verify it is a replacement cost policy. As long as it is a replacement cost policy the insurance company will cover the costs in today's dollars.
7. Get A Home Warranty:
Home Warranties are, in my opinion, cheap insurance policies. You can cover things which could be costly to repair. The HVAC unit could cost hundreds of dollars to repair. Any major appliance system can be covered. Speak with your REALTOR if you need more information. A home warranty is a good investment.
8. Transfer Utilities:
You must transfer or establish new utility services. If you are moving, arrange with the seller a specific date to change the services. The utility company can do it all at one time.
9. Here are the important ones:
Electricity
Water and Sewer
Phone service
Internet Service
Cable / Satellite
10. Banking / Creditor Information
When it comes to banking I am a believer in using local banks. Online banking is a good thing but what if you need a personal touch. I would want someone local I could call on to make things happen. Make sure all your creditors and banks have your new address.
If you would like more help with Huntsville Alabama Real Estate contact Bryan Pearl of Keller Williams Realty. I also would like to give a plug for a friend, Jeff Olson, a REALTOR in Madison Wisconsin Real Estate.
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