Having your offer accepted on a home is exciting. After the showings, negotiations, and paperwork, it finally feels real. But between the time your offer is accepted and the day you move in, there are still a few important steps to take to make sure everything goes smoothly.
Here are a few key things to keep in mind before possession day.
Make Sure You Have Home Insurance
Before you can receive the keys to your new home, you’ll need to have house insurance in place.
Your lawyer will require proof of insurance before releasing the keys. Without it, possession cannot happen. It’s a good idea to arrange insurance well ahead of your possession date so there’s no last-minute stress.
Once your policy is set up, your insurance provider will give you confirmation documents that you can send directly to your lawyer.
Avoid Major Financial Changes
Once your mortgage has been approved and your offer is firm, it’s important to keep your financial situation stable until possession.
Lenders typically run another credit check shortly before possession to confirm nothing has changed.
During this time, avoid:
Making large purchases
Opening new credit cards
Financing vehicles or furniture
Changing jobs or income sources
Even changes that seem small can affect your mortgage approval, so it’s best to wait until after you have the keys.
Plan Your Move Carefully
Moving day can be one of the most exciting parts of the process, but it’s important to plan it strategically.
If you’re hiring professional movers, it’s usually safer not to book them on your possession date. Occasionally there can be small delays with paperwork, key releases, or final details.
Booking movers a day or two after possession gives you a buffer and can make the entire experience much less stressful.
It also gives you time to clean, measure spaces, and move a few things in before the big move.
Update Your Address
Once your move is approaching, you’ll want to start updating your address.
Some of the most common places people need to update include:
Driver’s licence and vehicle registration through Manitoba Public Insurance
Mail forwarding through Canada Post
Banks and credit cards
Subscriptions and memberships
Work and insurance providers
Setting up mail forwarding for a few months can be especially helpful to catch anything you may have forgotten.
Getting the Keys
Possession day is when everything finally comes together. Once your lawyer confirms that the transaction is complete and all requirements are met—including proof of insurance—you’ll be able to pick up the keys.
From there, it’s time to start settling into your new home and making it your own.
Buying a home is a major milestone, and while there are a few details to manage before possession, being prepared ahead of time makes the entire process much smoother. 🏡
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