Wondering what not to do after buying a Colorado Springs house? After all the effort of house hunting, you’ve finally gotten the keys to your new place. However, the journey isn’t over yet. There are several crucial missteps that new homeowners often make after closing that can create unnecessary headaches and expenses.
In this blog post, Colorado Springs real estate expert Barb Schlinker and the professionals at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss seven mistakes you should avoid as a brand-new homeowner.
Key Takeaways:
- A final walkthrough allows you to verify the home’s condition and make sure you’re getting what you paid for.
- While it’s tempting to start furnishing and decorating right away, avoid making any major purchases like large furniture items, new appliances, paint, or a bunch of new décor– at least before your mortgage loan officially closes.
- One of the very first tasks for new homeowners should be changing all the exterior door locks and getting new keys made.
What Not to Do After Buying a Colorado Springs House? – 7 Mistakes to Avoid
Skipping a Final Walkthrough
Right before the official closing, you’ll have an opportunity to do one final walkthrough of the property. Never skip this important step, even if nothing has changed throughout the closing process.
A final walkthrough allows you to verify the home’s condition and make sure you’re getting what you paid for. If you negotiated repairs with the seller, it also gives you a chance to make sure they were properly completed per the contract terms.
Making Big Purchases Before Closing
While it’s tempting to start furnishing and decorating right away, avoid making any major purchases like large furniture items, new appliances, paint, or a bunch of new décor– at least before your mortgage loan officially closes.
New large debts could negatively impact your credit and debt-to-income ratios, putting the mortgage at risk.
Changing Jobs Before Closing
Similarly, right before closing is not the time to quit your current job or switch employers. Lenders need to see continuous, stable income streams through the final closing date. Making any employment changes before signing the final paperwork could raise red flags about your ability to keep up with mortgage payments.
Forgetting to Change the Locks
One of the very first tasks for new homeowners is changing all the exterior door locks and getting new keys made. Previous owners or others may still have copies of the old keys, so changing the locks ensures your new home is secure from the moment you move in.
Not Setting Up Utilities Promptly
A common mistake for new homeowners is failing to transfer or set up utility services like electricity, gas, water, internet and cable, etc. in your name at the new home address. Make sure these are ready to go from day one to avoid lapses in service or dealing with reconnection fees.
Underestimating Ongoing Costs
Many new homeowners understandably focus on the mortgage payment amount, but underestimate all the additional ongoing costs of homeownership. Things like property taxes, homeowners insurance premiums, HOA fees, repair and maintenance expenses, and more need to be properly budgeted to give you a complete picture of the financial cost of homeownership.
Not Considering a Home Warranty
While home warranties do have some limitations, they can provide valuable coverage and peace of mind for repairs or replacements needed for major home systems like air conditioning, heating, plumbing, electrical, and appliances. This is especially important during your first year of ownership when issues are more likely to arise with your Colorado Springs home.
Barb Schlinker is the Best Realtor For Colorado Springs Home Buyers
Finding the right home starts with a Colorado Springs real estate agency. If you’re looking for the best realtor in Colorado Springs, look no further than Barb Schlinker and our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team.
Throughout our 27-year-long career, we’ve developed a reputation for high-quality customer service, attention to detail, and a stress-free experience thanks to our VIP Buyer Program. With this program, you get curated property hotlists, free home-buying resources, and our unique Buyer Satisfaction Guarantee.
To learn more about buying a house in Colorado Springs with our team, reach out to us today at 719-301-1802 or [javascript protected email address]. Don’t wait to find your dream home!
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