What Should I Expect Now That I’ve Closed on My New Home?

 I’ve Closed on my New Home - Now What?

 

Buying a new home, whether your first or not, is an exciting process, although not without some frustrations, anxieties, and problems to solve. Making the decision to buy a home is huge, and now that you have gotten through the process and are officially the new homeowner what can you expect? We all talk about the events leading up to the big day - your closing - but then things shift gears, alot!

 

 

 

First, you are likely pretty excited about having a home of your own, especially if this is the first one. There is something very different about having your own place that you can decorate as you wish, create memories in, and enjoy some financial benefits (e.g., tax deductions). The emotions will vary, and it may take a little time for reality to set in as you realize YOU are a homeowner. It may be a bit scary too, when you consider the money and the commitment you’ve made, especially for the first time. But also consider what you might have been paying for rent. I find buyers are generally very excited about the future in their new place!

 

 

Others will know pretty quickly that you are a new homeowner, so you will likely receive a ton of mail, and perhaps phone calls, about all sorts of products and services you might want as a new homeowner – a roof, blinds, new flooring, a security system, and so on. All with discounts, too!!  It’s true that some of this may be needed, but be careful about your budget, and don’t get sucked into purchasing something you don’t really want or need just because it looks like a great savings.

 

 

Did you forget to do your mail forwarding? I always remind my buyers a couple of weeks before closing, but sometimes people forget. If you didn’t take care of that be sure to do so. It’s especially important with regard to bills so there are minimal delays in receiving them. Be aware mail forwarding from the post office takes time and is not immediate.

 

 

There might be some other things to attend to. Did you change your utilities when you moved out? Did you change your homeowner’s insurance? You will have needed insurance in place when you closed if you had a loan, but do you need to cancel any renter’s insurance?

 

 

Did you change your address for your car registration? Are there other address changes needed, like your bank? Did you phone number need to change when you moved? Who needs to know that – your doctor, dentist, employer, friends and family?

 

 

You might get mail at your new home for the prior owner. You can check with your agent about how to handle this.

 

 

 

Don’t fall for those solicitations about sending in money so you can get a bonafide copy of your deed… you may get one or more of these soon after closing. It may not happen in your area but I get calls all the time from my San Diego area buyers after closing, asking if this is something they need to do. NO! You will get a certified copy of the deed from the County (at least we do here in San Diego) and you do NOT need to pay for it separately.

 

 

You’ll probably also see from flyers or mailings from lenders about refinancing your loan or offering other services.

 

 

You will get a final copy of the settlement statement from escrow (this may vary in your jurisdiction) a few days after closing outlining all the final costs and credits. You should have seen, read, and approved an estimate before closing. If you wired more money to escrow than was actually need for final closing costs and the down-payment this will show on the settlement statement and you will receive a check for the overage. If you have any follow-up questions be sure to call your escrow officer.

 

 

Of course a big issue to deal with is unpacking, and finding places in your new home for all your stuff. Hopefully you have more room, including storage, than you have stuff but that’s not always the case. Depending on how organized you are, and your available time and energy, unpacking can happen quickly or may seem endless. If there is work you want to do, say painting a room, this might be a good idea to take care of before you unpack and get that room filled with furniture.

 

 

Now here’s something you might not like to hear, but it’s the reality for some new homeowners. Seems that sometimes once you move in something will go wrong – dishwasher breaks, all of a sudden there is a leak, and so on. It might not happen for a while but you never know. It’s part of being a home owner. If you have a home warranty this may help take care of the issue (there may be a fee of some sort depending on the plan).

 

 

Lastly, now that closing is past the emails, texts, and calls from your agent and your lender will shift dramatically. They might even stop. There was such a flurry of activity and then it's over. I've even had a coupe of buyers feel like they were going through withdrawal since we weren't communicating every day after closing.

 

 

It will take awhile to get used to your new surroundings and to start feeling more settled – where things are in your kitchen, the light switches, different sounds, new routes to the store, traffic patterns in your area, exploring your neighborhood and meeting the neighbors, finding all the amenities you need, remembering trash day, and so on.

 

 

You’ll start to make some changes in the house, or perhaps in the yard, will start entertaining friends and family, and you’ll come to realize how much you really like you new place…even if it’s not perfect!!

 

 

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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com

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