You Got the Keys. Now What? Documents to Keep and a First-Year Home Plan
Daniel ParkNo. 49
Updated
Key takeaways
- Keep your Closing Disclosure, deed, title policy, loan documents and improvement receipts for as long as you own the home, and for several years after you sell.
- Store paper and digital copies in two different places.
- In your first week, change the locks, find your shutoff valves and test smoke and carbon monoxide alarms.
- A simple seasonal checklist prevents most expensive surprises.
Congratulations, the keys are yours. Before the boxes are unpacked, take an hour to organize your paperwork and set up a simple maintenance routine. Your future self, and your future buyer, will thank you.
The documents to keep
| Document | Why it matters |
|---|---|
| Closing Disclosure or settlement statement | Shows what you paid and helps establish your cost basis for taxes |
| Deed | Proof of ownership, recorded with the circuit court clerk |
| Owner’s title insurance policy | Protects you against covered title problems for as long as you own the home |
| Promissory note and deed of trust | The terms of your loan |
| Survey and inspection report | Useful for future projects and repairs |
| HOA or condo documents | Rules, fees and contact information |
| Receipts for improvements | Can increase your cost basis and reduce taxable gain when you sell |
| Warranties and manuals | Needed for claims and service |
Daniel’s tip: You may get official-looking mail offering a copy of your deed for a fee. You can usually get a copy from your county’s land records for far less, so don’t pay those offers.
How long to keep them
Keep the core documents for as long as you own the home. Keep receipts for improvements, and your closing statement, for several years after you sell, since they support your tax return. Scan everything into a cloud folder and keep the originals in a fire-resistant box.
Your first week
- Change or rekey the locks and update garage and gate codes.
- Find the main water shutoff, gas shutoff and electrical panel, and label the breakers.
- Test smoke and carbon monoxide alarms and replace batteries.
- Set up utilities, trash service and mail.
- Confirm whether your lender pays property taxes and insurance through escrow.
A simple first-year plan
| Season | What to do |
|---|---|
| Fall | Clean gutters, service the furnace, shut off and drain outdoor faucets before the first freeze |
| Winter | Watch for ice dams and frozen pipes, change HVAC filters, check the attic for leaks after storms |
| Spring | Service the air conditioner, check grading and downspouts, watch for termite signs, test the sump pump |
| Summer | Inspect the deck and exterior caulk, trim plants away from siding, clean the dryer vent |
Know your tax dates
If your taxes aren’t escrowed, add the due dates to your calendar. In Fairfax County, real estate taxes are due July 28 and December 5. Other Northern Virginia localities set their own dates, so check your county or city website.
Need a plumber, roofer or HVAC pro you can trust?
Frequently asked questions
Should I buy a home warranty?
It can help with older appliances and systems, but read what’s covered and the service fees. Many owners prefer to set aside a repair fund instead.
How much should I budget for maintenance?
A common rule of thumb is about 1% of the home’s value each year, more for older homes. Some years will cost less and some more.
Will you check in after closing?
Yes. I stay in touch after closing, and I’m always happy to recommend a pro or answer questions about your home’s value.
Filed under Buying a Home, Home & Design
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