Purchasing a new home is exciting, and you’re likely to be overwhelmed with information as you go through the buying process. Once you reach the point of signing the final papers, there are a few more things to know. As a new homeowner, making sure to take a few simple steps can protect your financial investment and save you from dealing with many preventable issues. Here are some of the most important things you should know, brought to you by the experts at Altra Insurance Services, a leading provider of home insurance San Diego residents know they can rely on.
Verify Everything You Can
Home inspections go a long way toward uncovering potential problems in a house. But it also helps to ask additional questions and verify the seller’s answers. If possible, get information in writing about claims the seller makes regarding past maintenance, such as saying they installed a new roof or had mold remediation performed.
Expect Surprises throughout the First Year
New homebuyers often hear that you can’t truly know your home until you’ve lived in it for a full year. With each new season, you might discover unexpected things about your home. For instance, the rainy season may reveal a hidden roof leak. Or you might notice certain rooms don’t cool as well as others in the summer. Try to set money aside for unexpected repairs as you get familiar with your new home. Eventually, you’ll know exactly when appliances and building materials were installed, which can let you know when to anticipate repairs and replacements.
Wait Out the Urge to Immediately Upgrade
The excitement of finally achieving home ownership may cause you to want to rush to put in a new countertop or make other major upgrades. However, it’s often better to wait. Those surprise repairs you need to make in the first year could impact your decisions regarding updates. You might also find out that you like some of the features you initially wanted to change.
Safeguard Your Purchase with the Right Insurance Coverage
When you apply for a home loan, your lender will most likely require you to purchase a homeowners insurance policy that provides coverage for damages that impact the value of your property. While this type of insurance is essential, you may also want to explore additional options to protect your investment during challenging times. For instance, updating your life insurance policy can help your dependents cover mortgage payments to prevent them from losing the house if you pass away unexpectedly. Depending on your type of home loan and the location of the property, you might also need to purchase flood insurance or other forms of coverage for specific perils.
Ask Your Neighbors about New Service Providers
As a newcomer, it’s often hard to know who to trust when you need professional services. Naturally, you can research companies online, but a company’s website and reviews might be skewed to only reflect their positive attributes. When you meet new neighbors, ask them about who they trust to handle household emergencies or do regular landscaping care. You’ll have an easy topic for conversation and learn a few things about the reputable companies in your neighborhood.
Make sure to protect your new home by buying home insurance from a trustworthy, experienced provider. For reliable, affordable homeowners insurance, San Diego homeowners know they can trust Altra Insurance Services. We also provide renters, commercial, motorcycle, and car insurance. San Diego residents can receive a free quote by calling one of our friendly agents today.