Photo by Todd Kent from Unsplash
When I was younger, I used to imagine buying my own house by 25 or moving into my husband’s home by 27. Now that I’m turning 22, I realized moving into a new home or buying one isn’t as easy as it looks. There are several, key things you need to consider before, during, and after you decide to move.
There are going to be a lot of fees, untoward expenses, and taxes and licenses you need to take care of, and this is only the tip of the iceberg. All this ‘grown-up’ stuff gets you feeling very overwhelmed, confused, and discouraged to continue. Although I’m not at a point in my life where I’m ready to live on my own, it doesn’t hurt to talk about this.
BUDGET YOUR FINANCES
If you’re anything like me, my priority is budgeting my finances. Luckily, I found a site that helps me be guided with my expenses. On this site‘s front page, you will see a calculator that allows you to fill in the home price and deposit to compute the mortgage amount and term. As you type in the digits, the calculator automatically calculates the full monthly payment, loan payments, interest payables, etc. This site is a handy tool for computing big amounts if you ask me.
Although the calculator on this site originally caters to the UK market, the monthly payments math works the same just about everywhere other than the currency units and prices. Mortgage Calculator UK has a feature that allows you to link to a specific calculation with the results already filled in. The link appears below your calculated results when you press the calculation button.
A couple of things that make this site unique are graphs of loan repayment along with monthly and yearly amortization tables. Mortgage Calculator UK provides additional calculators which have features like estimating affordability, printable amortization schedules, loan overpayment, and remortgages. If you’re looking for an easy-to-navigate tool to estimate your loan, monthly payments, or your monthly budget, it’s best you find a site that caters to all your financial needs while you’re in the process of moving into a new home.
Upon visiting Mortgage Calculator UK, the whole presentation of the site reminds me of my Finance class back in high school. It contains a section that explains the introduction to the mortgage market, fixed and variable rates, and loan structures in a way that you easily understand. When I forget about certain financial terminologies, I know I could just visit their site, review the definition, and apply this information to my decisions. On this site, everything is provided for, accessible, and easy to understand especially for those who are first-timers in moving into a new home.
You can use this tool FOR FREE by typing in MortgageCalculator.uk or the full URL like mortgagecalculator.uk.
For my Filipino readers, we also have mortgage calculators provided by some of our most prestigious banks and financial institutions, among are PNB and BDO.
TAKE A LOOK AT THE HOUSE
Before making any permanent decisions, consider surveying your new house while it’s clean and empty. You can bring a calculator, a tape measure, so you can plan where your furniture will go. This will save you time when you decide to unload your things if you already know where to place them. Take safety precautions, especially for children and pets. You will need an extra set of precautionary measures to ensure their safety and comfort in a new environment. This includes finding places in the house that could create hazards when children and pets are involved. It’s incredibly important to fully know the ins and outs of your new home, including your circuit breakers, fuses, water valves, and emergency escape routes.
EXPLORE THE COMMUNITY
One of the first things I mainly consider when moving into a new home is the location. No matter how beautiful a house is, I wouldn’t live there if there’s a too narrow road for our car to pass or if I don’t feel safe in the neighborhood. I wouldn’t risk my family’s safety and peace of mind even for the coziest home. Before signing that contract, spend a day or two exploring the community and see if you like it. Take a stroll and survey the area. See if any neighbors give you a bad impression not to live there. Evaluate your options. You can also look for nearby convenience stores, community centers, parks, and other places that may turn out to be the new go-to spots for you and your family.
LIST DOWN YOUR PRIORITIES
Just by simply thinking about moving into a new home, your mind is already racing with to-dos. Save yourself from unnecessary stress and write down every single action or change of plans you got throughout the day. Remember, it’s better to do your plans one thing at a time than procrastinating and ending up not fulfilling a single task.
The Family Handyman says it best:
“First priority should be items completed that week – such as safety concerns, cleaning, unpacking essentials, etc. Priority two should be tasks completed within the next two months – related to organization, maintenance, and remaining unpacking. Priority three tasks should be non-essentials, but improvements and projects you’d like to complete within the year – renovations, landscaping, and large purchases.”Family Handyman
Finding a home can be very stressful, especially when you lack the financial resources and knowledge to make this commitment. It needs persistent research and patience to make the right choice. You will have several options in mind, and until you make the final decision, your choices will change from time to time. Most importantly, it’s very crucial to be completely honest about your thoughts in regards to choosing your new home. Ask important questions and always communicate with your partner or family. Ask advice from other homeowners. Do you see yourself living here long-term? Do you think this house is perfect for unforeseeable lifestyle changes in the near future? Do you find the neighborhood safe, accessible, and friendly? If your answer is no, believe me when I say there are still many things you need to learn.
2 thoughts on “What To Consider When Moving Into A New Home”
An important factor to consider is making sure the laundry room is set up!