Essential Steps After Buying Property in the USA

Essential Steps After Buying Property in the USA

For all our friends settling in the USA, purchasing property is just the beginning! Today, Regina is here to reveal three critical yet often overlooked points that you need to take action on after closing the deal. 🏡

1. Submit a Homestead Declaration

Once the property transfer is complete, don’t forget to submit a homestead declaration to your local property registry. This document affirms that the home is for personal use rather than for rental or vacation purposes. The benefit? When you decide to sell the property, you can enjoy a tax exemption of up to $250,000 for individuals ($500,000 for couples) on the appreciation of the property!

2. Clean Up Your Property Listings

(1) Removing Photos from Zillow

Log into Zillow and locate your property. Click on the three dots in the upper right corner and select “Claim Your Home” to verify ownership. After verification, click on “Correct Facts”, choose the photos you want to delete, and save your changes.

(2) Deleting Photos on Redfin

Log into Redfin, find your property, and click on “Edit Facts” to confirm ownership. From the dropdown menu that displays your name at the bottom right, select “Owner” and then “Hide Photos”. After that, click on “Edit Photos” to save your changes.

3. Update Your Address Information

It is crucial to update your address with the following organizations: the Immigration Bureau, Social Security Administration, USPS, IRS, Department of Motor Vehicles (DMV), banks, insurance companies, schools, employers, and utility companies like water, electricity, and gas. This ensures all correspondences reach you without a hitch!

Bonus Tip! 📝

After purchasing a home, it’s important to plan for furnishing it right away. Rather than waiting until you move in, consider buying furniture from your home country and shipping it. This option can be considerably cheaper—typically saving you 30-40% compared to local prices!

Stay tuned for more helpful tips on navigating life in the USA, and remember, settling in is an adventure! 🇺🇸