You’ve closed on your new home; congratulations! After all the steps in the buying process, from working with your real estate agent to closing day, you finally have the keys. The first year of homeownership is a time of excitement, adjustment, and learning. Whether you’re moving in right away or taking time to settle in, this first year sets the tone for how you’ll care for your home and manage your new responsibilities.
Your to-do list won’t end on move-in day. From maintenance to budgeting to figuring out what’s behind that mystery light switch, there’s a lot to take in. But you don’t have to do it all at once. We’ll walk you through the most important steps to take in your first year, so you can protect your investment, plan ahead, and feel at home in your new space.
Getting settled is easier when you know what to expect. Browse our homeownership preparation tips for a full breakdown of what to plan, pack, and double-check as you start this next chapter.
The moving process is more than just unpacking boxes. Your first few days in the home are a great time to check for anything that isn’t working properly, document the condition of your house, and make safety-related changes right away.
Here are some essential steps for move-in day:
This is also a great time to review your closing disclosure and home purchase paperwork. Store these important documents in a safe place, along with your new mortgage paperwork and any warranties left behind by the previous owners.
Before you fully unpack, give the house a deep clean. Even if it looks tidy, a professional cleaning service can remove dust, allergens, and grime from places like baseboards, cabinets, and behind appliances. Give your home a fresh start and establish good habits right from the beginning.
If you prefer to clean it yourself, focus on:
This is also the perfect moment to clean filters, replace any old HVAC filters, and inspect air vents for blockages. Good air quality starts with clean vents and filters, especially if the previous owner had pets or the home sat vacant.
It’s always a good idea to change the exterior locks when you move into a new house. You never know how many people have copies of the old keys, including neighbors, contractors, or former tenants.
Make sure all exterior door locks are replaced or rekeyed, even if the previous owner left you the keys. Don’t forget to:
Safety should be a top priority, and new locks give you peace of mind from day one.
Your electrical panel (or circuit breaker box) is the control center for your home’s power supply. It’s crucial to know where it is, how to restore power if something trips, and which switches control what.
Label each breaker clearly, especially for:
Knowing how to restore power safely will help you avoid service interruptions or fire hazards down the line. If you notice signs of electrical problems — such as frayed wiring or overloaded circuits — consult a licensed electrician immediately.
Staying organized can save time and money. Set up a system to track:
Create a new homeowner checklist that includes everything from transferring utilities to setting your HVAC schedule. Having a homeowner checklist in one place helps you stay on top of seasonal maintenance, appliance care, and important deadlines.
Your heating and cooling system is one of the most important parts of your home. Regular servicing helps extend the life of your HVAC system and can prevent costly repairs.
During your first year:
HVAC systems that aren’t maintained can reduce air quality and increase energy costs. Stay ahead of expensive repairs by keeping everything in good shape.
A home security system isn’t just about preventing break-ins; it can also alert you to fire, carbon monoxide, and water leaks. Many systems offer video doorbells, smart locks, and app-based monitoring for added convenience.
Popular add-ons include:
If you have a homeowners association, check their rules before mounting any exterior cameras or alarms. A good security setup helps protect your new home and your peace of mind.
One of the most overlooked tasks for new homeowners is planning for routine upkeep. Create a home maintenance checklist and build a budget to cover both expected and surprise costs. The Members Plus Credit Union offers a seasonal home maintenance checklist that can help you map out what needs attention throughout the year.
Here’s what to include in your budget:
Experts recommend saving 1% to 3% of your home’s value each year for maintenance. This extra cash will help you avoid financial stress when costly repairs come up.
Each season brings its own set of maintenance needs. Keep your home in good shape by staying ahead of potential problems. The Better Business Bureau offers a helpful seasonal maintenance checklist, and we’ve included additional tips in our seasonal home prep guide. Speaking of the BBB, if you’re curious what accreditation means, see our explanation here.
Typical tasks include:
Spring
Summer
Fall
Winter
Don’t let minor repairs turn into major problems. During your first year, keep a list of simple tasks that can improve safety and efficiency.
Common first-year repairs include:
These might seem like small issues, but they can add up if ignored. Tackling them early helps maintain your home’s value and livability.
You can also boost curb appeal and comfort with simple upgrades:
If you’re thinking of making bigger changes, check out our home renovation tips to see which upgrades offer the best return.
You don’t need to replace everything at once, but it’s smart to get familiar with the condition of your home’s major systems and appliances. This includes your:
Look for signs of wear, leaks, or odd noises. If anything doesn’t seem to be working properly, consult your home inspection report or call a professional.
Be sure to clean refrigerator coils, check smoke detectors regularly, and monitor water heaters for sediment buildup or strange odors.
During your first year, you might be surprised by how property taxes or escrow payments change. Many homeowners see an adjustment to their monthly mortgage payment after the lender does a yearly escrow review.
Keep track of:
If you’re confused about how escrow works or why your payment went up, reach out to your lender for an explanation. Staying on top of this helps prevent budget surprises down the road.
As a homeowner, paperwork piles up quickly. You’ll want to keep all your important documents in one place where they’re easy to access.
Create a home file (physical or digital) for:
Staying organized helps you resolve issues quickly and simplifies tax season. Keep digital backups of scanned documents, and make sure a trusted family member knows where to find the originals.
After move-in day, make sure your transfer utilities process was completed smoothly. This includes:
Test every system to confirm there are no service interruptions. Label your electrical panel clearly so you know how to restore power in case of an outage, and make sure you know where the main water shutoff is.
While you’re setting things up, look for customer discounts for new homeowners. Many utility providers offer special rates or rebates when setting up service for a new address.
It’s easy to overlook administrative tasks during the moving process, but updating your records is essential.
Some of these changes may qualify you for new homeowner discounts or rebates, so double-check what programs are available in your area.
Before you move in, it’s smart to understand the hidden costs of homeownership. Check out 8 expenses to prepare for when buying your first home so you don’t get caught off guard by maintenance, taxes, or unexpected fees.
Even if you’re financially ready for your new house, the first year brings lots of unexpected expenses. From small purchases like phone chargers or cleaning service supplies to bigger costs like HVAC service, a flexible budget is essential.
Include line items for:
If you received extra cash from gifts or refunds around the time of your move, consider using it to build a first-year emergency fund for surprise homeownership costs. The first year is full of surprises. This guide from Habitat for Humanity walks through how to plan for the unknowns and avoid financial stress during your first 12 months.
A new home means learning the ins and outs of the property, including its quirks. Pay attention to things like:
This is especially important if you’re in an older house where previous owners may have made undocumented changes. Keeping an eye on how the house functions day-to-day can help you spot issues early and prevent expensive repairs.
If your neighborhood has a homeowners association (HOA), you’ll need to follow their rules from day one. The homeowners association might regulate:
Review the HOA’s handbook or welcome packet carefully. Violations can result in fines, and some HOAs are strict about enforcement. If you’re not sure what’s allowed, ask before making changes to your new space.
Owning a home may open up new tax deductions or financial benefits, especially in the first year. You might be able to deduct:
Track your expenses and talk to a tax professional to make sure you’re not missing out. Start a folder early to save receipts, bills, and notices that might be relevant come tax time.
Homeownership is a huge milestone worth celebrating. You’ve taken a major step toward building equity, creating stability, and gaining long-term financial freedom.
That said, avoid overspending during this “honeymoon” phase. Take it slow:
Focus on building habits and systems that help you stay organized, avoid costly repairs, and maintain the home’s value.
There’s no rule that says you have to host a housewarming party, but if you do, make it work for your budget and personality.
Keep it casual with a potluck or outdoor gathering. Let people know what kind of help you’d appreciate, whether it’s bringing tools, plants, or simply sharing advice.
If your house still needs work, consider a “paint and pizza” party or a project-based hangout where friends help you get settled. It’s a great way to bond and turn a simple task into something fun.
Start with safety and utilities: change the locks, test smoke detectors, set up trash collection, and transfer your utilities. Then, tackle one room at a time with cleaning, unpacking, and organizing.
A common rule of thumb is to save 1% of your home’s value annually for repairs and maintenance. That might mean setting aside $200–$400 per month, depending on your home’s size and age.
That depends on your local government and whether taxes are paid through escrow. Your closing disclosure should include your expected start date. If you don’t receive a bill after a few months, contact your local tax office to check.
If your seller provided one or you purchased it at closing, a home warranty can be useful, especially for big-ticket appliances. Just be sure to understand what’s covered and how claims work before relying on it.
Want more ideas for a smooth transition into homeownership? Triangle Credit Union offers practical first-year tips that every new buyer should know.
Your first year of homeownership is more than a checklist; it’s the foundation of a new phase in your life. You don’t have to get everything perfect on day one. Homeownership is a long game, and you’ll keep learning as you go.
Use this year to build smart habits:
You’re not just maintaining a house; you’re creating a home.
If you’re feeling overwhelmed by all the essential steps, don’t worry; you’re not alone. Our expert educators and counselors are here to help guide you through every stage of homeownership, from budgeting and utility costs to seasonal maintenance and long-term planning.
Check out our free homebuyer classes to get hands-on guidance tailored to your needs as a new homeowner. Whether you’re planning upgrades, avoiding first-year mistakes, or simply trying to make your home safer and more comfortable, we’ve got tools and support to help you succeed.
