Your first year as a home owner
A simple checklist for the first year after settlement: set-up, records, safety and review.
- Week one: change the locks, move utilities into your name, update your insurer, licence and electoral details.
- Start a property file and a maintenance log for documents, invoices, warranties and manuals.
- Test smoke alarms and other safety devices, and learn where the water, gas and power shut-offs are.
- Re-read the LIM against what you see, and follow up on anything the builder's report flagged.What does LIM mean?A LIM (land information memorandum) is a report from the local council about the property, such as its rates and what the council's records hold on it. settled.govt.nz (Te Kāhui Kāinga Ora / REA): Understanding the sale and purchase agreementWhat does Building report mean?A building report is a written check of the property by an accredited inspector that lists any defects; settled.govt.nz suggests one that meets the standard NZS 4306:2005. settled.govt.nz (Te Kāhui Kāinga Ora / REA): Learning about the property
- At the end of the year, review your insurance, mortgage structure and real running costs.
Check the details. Check insurance and mortgage changes with your insurer and bank, and any council notices with your council or lawyer.
Official pages
Shortened from a Berry article first written 2026-05-16. Figures we could not check against a public source were taken out. This is general information, not advice.