Your new home

Congratulations! You found the perfect home, you got your mortgage. So, what happens next?

In all the excitement, it’s easy to forget the details. But we have you covered with this new home owner checklist.

 

First-time home buyer mortgage checklist

This checklist will help make sure you don’t forget anything important as you prepare to move into your new home

  1. Check to make sure your scheduled payments are set up correctly. Your payments may be monthly, bi-weekly or weekly, depending on your preference.
  2. Remember, your first-time home buyer mortgage payment may also include additional costs such as your mortgage insurance.
  3. Contact your service providers as soon as possible to inform them of your upcoming move. Many need advanced notice to cancel services such as electricity, water and utilities. You will also need to set dates and service appointments to enable these services in your new home.
  4. Update your address with your financial institutions, vehicle insurer, credit-card companies, medical and dental services, home services such as cable, satellite, Internet, phone, electricity, utilities etc.
  5. If you are currently renting, you may need to provide advance notice for your move out date, so inform your landlord as soon as possible.
  6. If you are moving into or out of a condominium or apartment, be sure to book moving elevators ahead of time.

Enjoy more freedom

Once you’re settled into your new home, you may decide you want to access some extra cash for renovations or any other reason.

With a Vancity mortgage, that’s no problem. After you have paid off a certain portion of your mortgage and have built some equity in your home, every open-term and fixed-term mortgage includes a re-advanceable feature to give you access to the funds you need. You can re-borrow on your mortgage at any time and pay no extra legal costs.

Plan for the future

Now that you have your first-time home buyer mortgage and your first home, you can start planning for the next big milestones in your life—and we can help.

  • Do you want to pay off your mortgage faster?
  • Do you expect your family to grow?
  • Do you plan to be a repeat home buyer?
  • Do you plan to do renovations in the near or far future?
  • Do you want to travel?

Your investment in your home can bring new opportunities within reach. We’ll show you how to achieve your goals faster as a new home owner. Contact our Member Services Centre toll-free at 1.888.826.2489 for more information.

Shared Success

We share 30% of our net profits with our members and their communities. With a Vancity mortgage, you receive a portion of the mortgage interest you pay, redeemed to you in the form of a rebate through our Shared Success program.

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