Moving to a new house can be exciting but also stressful. There are several steps to the moving process and you likely have a long list of tasks to complete in order for the process to go smoothly.
Whether you’re moving on your own, with a partner, or with a large family, there are several steps that you can’t skip when you’re relocating. Of course, you will need to pack up your belongings safely and book a removal van but there are also lots of legal administrative tasks that you need to do.
If you’re getting a mortgage, you’ll need to apply for a loan several weeks before you can complete the sale. Even if it’s a cash sale, you need to hire a top-quality solicitor to deal with the exchange of contracts. Don’t forget that you’ll also need to organize home insurance and decide if you want a home warranty too.
We understand how complicated it can be when you’re moving to a new home. That’s why we’ve created a list of important things to keep in mind when you’re moving to ensure you don’t miss anything important.
Consider Changing Home Insurance Providers
Every homeowner needs home insurance. It’s a legal requirement and it provides coverage for the structure of your home, including the walls, windows, fixtures, and roof.
You can also get something called contents insurance, which covers some of the belongings inside your home, such as your jewelry, appliances, and technological devices.
Most of the time, your home insurance is automatically renewed when you move into a new property. It comes as part of the total sale. However, you can also organize a home insurance policy by yourself if you prefer.
You can either stay with your existing provider or search for a cheaper home insurance company. If you’ve got the time, it’s worth comparing the prices of multiple providers to see if you can save money on a policy for your new home.
Get a Mortgage Pre-Approval
If you’re planning on buying your new home with the help of a mortgage loan, you might want to consider a mortgage pre-approval. This involves applying for a mortgage a few months before you start placing offers on properties.
Getting a mortgage pre-approval can place you in an advantageous position and makes your offer more appealing to home sellers. If you end up in a bidding war with other buyers, the seller is likely to accept your offer first if your mortgage has already been confirmed.
You can organize a mortgage pre-approval by speaking to your bank or to a mortgage lender. You’ll need to show proof of your earnings and choose the best type of mortgage for your needs.
Consider Getting Mortgage Insurance
Although it’s not mandatory in many countries, mortgage insurance is a great addition to consider when you’re buying a new home with a mortgage loan. It protects both you and the mortgage lender if you are unable to make your regular repayments so that you don’t end up with debt and major legal consequences.
