If you have bought a new home the chances are that you simply want to move in and start enjoying the new place to live. So that everything goes smoothly and that the investment of time and money you are likely to have made is adequately protected, there are a number of points that you may nevertheless wish to keep firmly in mind.
Controlling your budget
As you have probably already learned only too well, moving home may prove an expensive business. It is likely to prove important, therefore, to keep a careful control of your budget. The following may be some of the areas where careful advance planning may help to avoid unnecessary expense and enable you to make the most of competitive prices:
? Removals – once you have a firm moving date, you may wish to seek quotes from a number of removal firms in order to identify the service you need at the price you are prepared to pay;
? Connections – for many utilities, such as electricity, telephone and gas, these days, there exists a competitive market. By doing a little research and planning your connections early, you may find identify those suppliers in the area who offer the tariffs most suitable to you and your family’s needs;
? Neighbours – your new neighbours may have been living in the area for some time already and, so, be well placed to share their experience and recommendations on local suppliers and tradesmen. Not only may their advice help when it comes to keeping control of your budget, but the chance of getting to know them may help set the scene for friendly neighbourliness in the future;
? Insurance – as an owner-occupier, of course, you are likely to be concerned to ensure that your new home is adequately insured. Typically, you may want cover for both the structure and fabric of the building itself and for all your possessions that you keep in it. When making your search for and comparisons of insurance quotes, therefore, it may be worth bearing in mind that combined buildings and contents cover is typically cheaper than arranging cover for these two elements separately;
? Mortgage insurance – probably one of the most critical factors influencing your ability to move into a new home was the availability of a mortgage. The mortgage is likely to be at the heart of many home buyers’ ability to own the property. Ensuring that you do not default on the agreement and make your mortgage repayments when they fall due each month, therefore, is likely to be given high budgetary priority;
? For the same reason, therefore, you may also want to give high priority to ways of safeguarding your mortgage;
? This might take the form of mortgage protection life insurance , which ensures that your mortgage is fully repaid if you should die and thus safeguards the home for your surviving dependents; or
? Mortgage payment protection insurance, which pays out a monthly benefit to help cover all or part of the cost of your mortgage instalments if you are unable to work because of an illness, accident or temporary (involuntary) unemployment.