Moving Home Checklist
Mortgage has been approved, house has settled, now it’s time to move!
Take the pain and stress out of moving house by being organised. Here’s a guide to help you on your way.
|Ahead of your move|
|Shed surplus stuff by selling it on www.ebay.com.au or www.tradingpost.com.au, or giving it to the Smith Family www.thesmithfamily.com.au or the Salvation Army www.salvos.org.au|
|Get removalist quotes: Find removalists at www.afra.com.au|
|Start packing items you don’t use regularly (books, winter clothes etc).|
|Get boxes from your removalists or supermarket. Mark each carton with the room it’s intended for.|
|Use up food in your freezer and pantry.|
|Organise to clean your new home ahead of your arrival and have utilities connected.|
|Use a floor plan to work out where furniture will go.|
|Council and Water Rates: Your solicitor will adjust any arrears and notify change of ownership.|
|Gas, Electricity and Phone: You must advise these utilities of your change of address and arrange disconnection at your old home and reconnection at your new address.|
|Mobile and ISP: Check ISP termination terms. You may be charged if you break your contract early. See if you can transfer the service from one phone to another. Advise mobile provider of change of billing address.|
|Cable and Satellite TV: You may be charged if you break your contract early but not if you reconnect at your new home.|
|Change of address|
|Friends, family, doctor, school, motor registration, drivers licence, insurance, health funds, clubs, subscriptions, newspapers, bread/milk deliveries.|
|Electoral Roll: www.aec.gov.au|
|Electricity and gas bills|
|General Mail redirection: www.austpost.com.au|
|Bank, building society, credit cards, super funds, stockbroker, insurances, accountant, solicitor, Tax Office.|
|The day before the move: defrost and clean fridge/freezer; take out garbage; pack an overnight bag with pyjamas, toothbrush, tea, mug, sheets, towels for your first night at the new place.|
|Enlist friends and relatives to help you on the big day.|
|Empty drawers, remove doors from wardrobes, dismantle items for easy moving.|
|The day of the move: have plenty of water available; lock valuables in your car until the move is over.|
What can first home buyers learn about moving home?
Can I start reducing my loan balance straight away?
Starting a new loan can be a good time to think about ways to jump-start your repayments and reduce your loan balance. Most Mortgage House loans allow you to make extra repayments and lump sums, without being penalised. This can be a great way to get ahead early on. If you want to access some of those extra repayments, choose a loan with a redraw facility. Paying off your loan sooner will reduce interest payments. Another way to reduce, or limit, interest payments, is to activate an offset account if your loan includes that feature.
An offset account is a non-interest-bearing account you can use to save on interest. The amount in that account will be offset against the loan, and interest will be charged on the difference. Both these options allow you to start saving money and reducing your loan balance almost immediately. If variable interest rates do rise, you can have the security of knowing you have paid off extra amounts of your loan while you can.
Have I got the right home loan for me?
As you go about your new life in your new home, with your new mortgage, things may change. Your life may change, or your financial situation may change. If it does, checking to see whether your mortgage is still right for you can be a smart move. In fact, a mortgage health check now and again is always good practice. With low-interest rates and strong competition, testing the market and trying to save a bit of money can be worth it. Home loan health checks are free and are very simple. At Mortgage House we can perform one for you over the phone, in as little as 20 minutes. Not only can they result in a better loan for you, but they may be able to improve your cash flow, reduce your interest rate, restructure your debt to save money, reduce your repayments, minimise your mortgage or even help you unlock equity in your home.
Can a mortgage calculator help me after I have chosen a loan?
Our moving checklist is one of a number of resources that can help our customers as they reach their property goals. Another range of handy resources is our mortgage calculators. If you already have a loan with Mortgage House, no doubt you would have already used them to find out a whole host of information. If you have a fixed rate loan with us and want to know what your repayment may be after the fixed term ends, then simply use our Mortgage Repayment Calculator to find out. That can help stop any surprises when your loan changes to a standard variable rate loan. You can also negotiate another fixed rate and fixed term with us if you wish.
Can I compare typical loan features?
As we mentioned before, life changes, and so should your mortgage options. The typical loan features you have access to, or want, today, can be different in the future. And banks and lenders may add extra features to their loans, so it can be important to always keep an eye on what may be available. A good place to start to do this is to compare our loans, including the features of each of them. This can help you keep abreast of what’s new, and compare it to your current loan.