So You’ve Closed on Your Home — Now What?

Closing on a new home is a complex process that can involve a number of different steps and formalities.

In addition to making your own decisions and holding negotiations with a real estate agent and/or the existing homeowner, you may well need to have a lawyer present for the closing. This is generally recommended because it’s a good way of ensuring that all of the details are ironed out as expected. In some states, however, it is even required for a qualified legal professional to be present in a real estate transaction of this nature. This is essentially why there are expert legal professionals in the real estate space in the first place. People in this profession help to make sure the closing goes according to plan — which is useful and necessary, even if it can feel tedious in the moment.

These days, you may also need someone on hand who understands software, programming, and blockchain technology. Fortunately, while these skills used to be largely dedicated to specific roles and career paths, there are a lot more contracted software experts out there today. Constant growth in demand for relevant work has led to this being one of the main areas of study in part-time and online education, with the result that it’s not uncommon to find workers with online master’s degrees in software development and versatile skillsets to handle the work. The reason you may need just such an expert for a home closing is that these events are increasingly being driven by digital transactions and blockchain contracts. Those are broad topics for another day, but suffice to say the need may arise to design a blockchain contact and navigate some intricate digital dealings. If this is the case, a neutral software agent can be as helpful as a lawyer to have on hand.

These needs and processes can make the actual act of finally closing on a new home somewhat exhausting. Once it’s done, you’ll feel relief, a sense of accomplishment, and a need to take a break. At the same time though, there are some things you should go ahead and address soon after closing (aside from just moving in!). Consider the following to begin with.


File Away Documents

First and foremost — on the very day you close on your home — make sure you have any and all relevant documents clearly labeled and stored where you’ll always know where to find them. This will be a fairly easy process if you’ve taken advantage of HomeBinder’s home management platform, which exists in part to simplify the documentation of the home buying process. Through HomeBinder, you can add relevant documents associated with homeownership, including:

  • Mortgage, Financial, Title and insurance records
  • Home inspection reports
  • Appliance information
  • Warranties
  • Project and repairs
  • Paint colors by room
  • Other capital investments
  • Actionable and property specific maintenance reminders
  • Trusted network of home professionals
  • Document storage and so much more!

The hope is that no urgent need for documentation ever arises. However, you never know when they might come up, even if it’s not until you look to re-sell the home yourself. Just remember that it’s easy to lose track of home-related documents if they’re not properly stored right away, and save yourself the trouble!


Change the Locks

It may sound a little odd, or even somewhat melodramatic, but it’s common advice to change the locks once you buy and close on a new home. When you think about it, there are a lot of people who have access to your new property if you don’t! The outgoing homeowners will have their own keys, and may have given extras to friends, family, or neighbors. Additionally, the real estate agent and any involved attorneys may have been issued spares. In all likelihood you can trust these people, but it’s best to be safe and change the locks early on. Plus, there’s just something about this step that makes it feel even more like the home is really yours.


Update Your Address

This is more about making things convenient for yourself. But there’s something to be said for simply sitting down at your computer and updating your address everywhere you can think of. When you think about it, you probably have your (now prior) address saved in all kinds of places: with your bank, on random website accounts, on Amazon, and so on. If you set aside some time early on to make the update wherever you think to do so, you’ll be saving yourself some hassles down the road.


Review Insurance & Utility Costs

These are factors you’ll have considered during the negotiating and buying processes. Still, once you’ve closed on the home, it’s a good idea to review your home insurance policy, as well as what the utility bills look like in your new property. Make any necessary updates you may need to in terms of adjusting policies and setting up payments, and start off your time in your new home with all of these pesky details taken care of.


Consider Renovations

It’s also time after your closing to consider potential renovations or upgrades you may want to make to the property. Sure, you’ll have just wrapped up a long and arduous process, and home upgrades are a lot to take on. But if you do intend to make any renovations to your new property, it’s worth planning them right away. Use the “Projects” tab in your HomeBinder to keep track of your remodeling plans and the “Home Pros” section to plan and manage who will be working on them with you! This will make it easier for you to budget projects, arrange your home, and so on — all so that eventual renovations can happen as smoothly and seamlessly as possible.

Take on these early steps after closing on a new home, and you’ll be well on your way to making the transition.

Article written by Ruth Joyce

Exclusively for homebinder.com

Key Considerations When Planning a Home Remodel

After being at home for the last year or so, you may have become tired of the color of the walls in your living room, noticed that warmer lights would be a better choice for your dining area, or speculated that your home would be less cramped if your kitchen didn’t have those hanging cupboards. And the truth of the matter is that you’re not alone. The pandemic has caused a huge surge in home renovation projects in the US, with Americans spending a collective total of $420 billion on them. This upward trend is only expected to continue.

To this end, if you’re planning to remodel, these key considerations can help you get started.

What’s your end goal?


Do you have a basement you want to polish up for everyday use? Make major structural changes like taking out a wall? Or do you want to expand upward with an extra floor or outward into your backyard? Either way, decide on a concrete objective to build on (no pun intended).

This makes your goal realistic, worthwhile, and detailed enough to be easily communicable to the designers and contractors you may hire. This will also ensure that you’ll be satisfied with the end result. Otherwise, you may find yourself done remodeling but still feel that your house is missing something.

What’s your budget?



Remodeling is a great step for any homeowner: It can increase both the sentimental value of your home, as well as its actual value on the market. Still, this means that you need to have the money to make the home improvements now. Fortunately, homeowners have several financing options that can help them out.

A home equity loan, for instance, gives you access to a considerable sum of cash by letting you borrow against the current value of your house. The interest rate is generally lower than those on credit cards, too. However, failure to pay back the loan gives the lender the right to foreclose on your home, so you need to have sufficient equity and the ability to pay the loan back over time to avail of it.

Newer homeowners can’t apply for home equity loans just yet, however. Thankfully, personal loans can give you anywhere from $3,500 to $40,000 upfront, and allow you to pay the amount back in equal installments over time. Just be sure to read the fine print and look for loans with rewards and no fees.

Whichever method you choose, make sure it’s a realistic way to finance your remodeling plans. And be prepared for anything: Set aside 10% of your money as a contingency fund, and have the entire budget ready at least three months to half a year in advance.

What does your homeowner association say?


When drafting your project, keep in mind the requirements of the neighborhood you live in. If you reside in an area full of historic homes, for instance, your options may be limited. If ever, ask for permission if you’re planning to make changes visible from the outside.

Moreover, remember to look over your local building code’s rules and regulations and apply for any permits you may need.

Should you get a contractor or DIY it?


In 2020, many cited the risk of COVID exposure as one reason why they preferred DIY to contractors. And with the Delta variant making its way across the country, you might want to do the same. If you’re going DIY, a wealth of online resources, like This Old House, can help you out.

However, it’s still best to hire a contractor for the biggest jobs on your list, especially the ones you’re not confident doing on your own (like flooring). If this is the case, interview multiple contractors and compare bids, so you can choose one that gives you the best deal.

Is now the right time?


Think about how the project will affect your daily routines. Consider, realistically, how long it will take to get the project done. If you start now, is there any possibility that the project will continue into the winter? If you’re expecting a baby, will the project be finished before the due date? Ask yourself these questions, and if you’re unsure about anything, rescheduling may be a good idea.

Wrapping it up


Once you’ve answered all these questions, embarking on your own unique home remodeling journey should be much easier.

Be sure to login to your HomeBinder account to utilize the “Add details” and “Add projects” tabs to keep track of paint colors by room, tile styles, the brand of flooring, etc. Also, be sure to take advantage of HomeBinder’s Home Valuation Tool to determine how certain projects can improve your home’s value!

Article written by Ruth Joyce
Exclusively for homebinder.com