What to Keep After Buying a Home

Posted on Thursday, June 7th, 2018 at 12:59pm.

What to Keep After Buying a Home

It's easy to become overwhelmed by all the tasks that need to be completed before buying a home, like paperwork, appraisal and inspection, and finally moving. Once all is said and done, it can be tempting to start with a clean slate - but there are some important things you should be keeping at your new home that will help you be a successful homeowner. Check out our recommendations for what to keep after closing below, and also be sure to visit our Contract to Close Checklist and New Homeowner's Checklist for even more tips!

Real Estate Documents - While your closing company is required to keep a record of your closing documents, it's still a good idea to hold onto your own copy and keep them somewhere safe. Your buyer's agent agreement, purchase agreement, seller's disclosure, and home inspection report are among documents that should be filed away and easily accessible in case something comes up that requires you to reference them.

User Manuals - If any appliances or systems (security, sound wiring) convey with the purchase of your home, it's a good idea to ask the owners for any manuals or documentation that go with them. This will prevent you from having to track down manufacturer's information online if you encounter any bugs or user questions.

Touch Up Supplies - If you do any painting or other changes when you move in, be sure to keep the extra supplies that you don't use. This will come in handy for any future touch ups or repairs and possibly save you a trip to the store!

Receipts for Improvements - Should you decide to sell, having a record of the cost of any updates/repairs you made to the home can help you reduce your taxes! When you sell, you will add up the original purchase price of the house, any associated fees, and any improvement costs to total an "adjusted basis." When you sell the home, if the difference between the sales price and the adjusted basis grants you a profit greater than $250,000 you will owe taxes on that profit - so costs of repairs and improvement can really be a life (and money) saver!

HOA Information - If your HOA doesn't have a dedicated website, it can be tricky to find the right number to contact them, and an internet search may just lead you to general neighborhood information on real estate websites (like AustinHomeListings.com!). You should receive information from your HOA upon move-in, so make sure to put it somewhere easy to find.

Looking to buy a home in Austin? Contact us today for information and expert advice on Austin real estate.

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