Step 12: Settle In and Manage Your New Home and Mortgage

1Change Your Locks and Secure Your Home 

Even if the sellers gave you all the keys, it is a smart move to change the locks. You never know who else had access in the past—friends, relatives, house cleaners, or contractors. This is a quick and affordable way to improve safety. 

Also, check or install: 

• Door and window locks 
• Garage door remotes and keypads 
• Home security systems (optional but worth considering) 

2 Set Up Utilities and Services 

If you haven’t already, transfer utilities into your name. Make sure everything is working and set to your preferences. 

Common accounts to set up: 

• Electricity 
• Water and sewer 
• Natural gas or propane 
• Trash and recycling 
• Internet and cable 

Ask about local service providers, and keep a list of emergency contacts for utility outages or maintenance issues. 

3Update Your Address Everywhere 

You will need to update your address with more than just the post office. Here’s where else to check: 

• Driver’s license and car registration 
• Bank accounts and credit cards 
• Insurance policies (home, auto, health, life) 
• Voter registration 
• Subscriptions and delivery services 
• Work and payroll systems 
• IRS and state tax agencies 

Doing this early helps prevent missed bills or lost mail. 

4Review Your Mortgage

Take a few minutes to review your mortgage statement. Make sure you know: 

• Your monthly payment amount 
• Your due date 
• Where to send payments 
• How to access your loan account online 

Set up auto-pay if available, or use your bank’s bill pay system. Making on-time payments helps you build a strong credit history and protects your investment. 

5Store Your Important Documents

Keep your closing documents in a safe place. These include: 

• Closing disclosure and settlement statement 
• Deed and title documents 
• Mortgage agreement and promissory note 
• Home inspection report 
• Home warranty information 

You might need these documents for tax time or if you refinance or sell later. Consider scanning them and storing backups securely online. 

6Make a Maintenance Plan

Owning a home means keeping up with regular maintenance. A well-maintained home holds its value better and avoids expensive repairs later. 

Create a monthly, seasonal, and yearly maintenance schedule that includes: 

• HVAC filter changes 
• Water heater flushing 
• Gutter cleaning 
• Smoke detector checks 
• Pest prevention 
• Lawn care and landscaping 

A simple home maintenance app or spreadsheet can help you stay organized. 

7Build Your Emergency Fund 

Now that you own a home, it is more important than ever to have savings for unexpected expenses. Experts recommend setting aside at least three to six months’ worth of living expenses. 

Unexpected costs may include: 

• Roof or plumbing repairs 
• Appliance breakdowns 
• Insurance deductibles 
• Property tax changes 

Start small if needed, but make consistent contributions each month. 

8Understand Property Taxes and Escrow

Most mortgages include an escrow account for taxes and insurance. But it is still your responsibility to know when and how much is due. 

Review your: 

• Property tax bill and payment schedule 
• Homeowners insurance renewal dates 
• Escrow account balance and adjustments 

If your escrow account is short, your payment could go up. Stay informed to avoid surprises. 

9Review and Update Insurance Coverage

Check that your homeowner’s insurance policy fits your home and belongings. You may want to adjust your coverage if: 

• You made upgrades (new roof, flooring, kitchen remodel) 
• You bought expensive items (jewelry, electronics, furniture) 
• You need flood or earthquake insurance not included in your base policy 

Also consider adding or updating: 

• Auto insurance with your new address 
• Life insurance for mortgage protection 

10Set Household Rules and Safety Habits

If you’re moving in with family or roommates, agree on basic household expectations early. Discuss things like: 

• Chores and responsibilities 
• Quiet hours 
• Shared expenses 
• Emergency contacts and escape plans 

Also, test all smoke detectors, carbon monoxide alarms, and fire extinguishers. Set up childproofing or pet-proofing if needed. 

11Get to Know Your Neighborhood 

Becoming part of a community takes time, but a little effort goes a long way. 
Start by: 

• Introducing yourself to neighbors 
• Finding your nearest grocery store, pharmacy, and gas station 
• Exploring local parks, libraries, and schools 
• Checking for neighborhood groups on Facebook or Nextdoor 

Many areas offer events or newsletters to help new residents stay connected

12Keep an Eye on Your Home’s Value 

Even if you don’t plan to sell anytime soon, tracking your home’s value is helpful. 

You can: 

• Use real estate apps to follow neighborhood prices 
• Ask a local agent for a market update 
• Track recent sales nearby 
• Watch for trends in your area’s economy or school district

This info helps you make smart decisions about future upgrades or refinancing. 

13Think About Long-Term Goals 

Now that you are a homeowner, you can start thinking about your next financial steps: 

• Should you pay off your mortgage early? 
• Is it time to invest in energy-efficient upgrades? 
• Will you want to refinance in the future? 
• Would renting out a room or converting a space be right for you?

Use this time to explore how your home fits into your bigger life goals. 

14Celebrate and Make It Yours  

Finally, take time to enjoy your accomplishment. Put your personal style into your home. Paint a wall, hang up your favorite photos, or host a small get-together. 

Settling into your new home is about creating a space that feels safe, comfortable, and entirely yours. 

Need Help Settling In? 

Reach out to us and let us know how we can support your next step as a new homeowner.