Today we are sharing a helpful article for preparing to move into a pre-sale home. So you bought a pre-sale home and your pre-sale move-in day is approaching! That can be a stressful time as with any move. Our friends over at MLA Canada share four helpful tips when it comes to getting ready for the big day.
After navigating the process of searching for and purchasing a pre-sale home, the move in itself might seem like an easy task. However, there are still things to be aware of when preparing for moving day. As anyone who has ever had to move between homes knows, moving can be stressful and overwhelming. Here, we outline some key areas to consider as you near your move in date.
Before moving in, it’s critical to make sure you have active home insurance. Home insurance should begin the day the property is transferred into your ownership. Most insurers allow you to transfer an existing home insurance policy to a new home and will cover both the old address and the new one for 30 days to give you a window during which to move. This means that your belongings are insured while you are moving and will be covered if they break during the move. You can purchase a separate policy for your move, but it is usually more cost-effective to amend your existing home insurance policy as it also includes liability coverage. If you are not transferring your existing home insurance to your new home, ask your new insurance provider whether your personal property is covered during your move. The policy on this differs between insurance companies. Let your insurance provider know if you’re not moving in right away; you may require additional insurance if the unit is vacant. Overall, share all details and dates of ownership, possession and occupancy with your insurer so they can confirm there will not be any gaps in coverage.
Understanding the strata
Any strata development functions as an owner community that works together to manage the common property. Each strata has its own bylaws and rules which inform the owners’ rights and responsibilities. An owner’s financial obligations involve paying strata fees, and sometimes special levies, towards common expenses. Before you purchased your home, you likely would have gone through the property’s bylaws, rules and budgets. If you haven’t already reviewed them in detail, do so prior to moving in. Common questions include an owner’s ability to rent the property or have pets. Know what your monthly strata fees are, and what services or utilities are included in that fee. Are the recreational facilities included, or is there an additional charge to access them? Will the amenities be ready when your unit is ready for occupancy? It’s also wise to know how much is in the contingency fund, and what the main capital expenditures will be throughout each year.
Follow up on the deficiency walkthrough
Prior to moving in, each pre-sale homebuyer completes a deficiency walkthrough to identify any pieces that are not yet completed. After the walkthrough, you are presented with a list of any noted deficiencies. It is always recommended that you bring your realtor along to review the list with you prior to signing that list. If anything was noticed, a plan was put in place by the developer and realtor to execute changes required. Prior to your move in, complete another walkthrough with your realtor making special note of the items that were identified on the list of deficiencies. If anything is outstanding, communicate with the developer in writing to ensure that those missed items are noted and remedied.
Get to know your new amenities
After taking care of the more transactional components of a move in, reward yourself with the fun part: exploring the amenities of your new home. Visit the fitness centres, social lounges, shared kitchens or rooftop gardens that you might find in the development. Walk yourself through all the available amenities and shared spaces and make note of how and when you can access each. Technology is increasing the convenience of using amenities; for example, Block by Amacon offers a secure parcel delivery room complete with smartphone notifications, providing a safe place for packages to await their pickup and easy access at any time.
Preparation is the best way to reduce the stress that can often come with moving into a new space. By covering off the above, you’ll be one step closer to a smoother moving day and the first night in your new pre-sale home.
For more information on how MLA can help you prepare for your pre-sale move, check out MLA Complete.