Moving from renter to homeowner

Key Takeaways

Inform your landlord:

• Prioritise notifying your landlord that you’re leaving

• Follow the agreed notice period stated in your tenancy agreement

• Provide notice in writing, specifying the desired end date and requesting a property check and deposit return

Settle your accounts:

• Contact utility companies, TV and broadband providers, and the local council (for council tax)

• Avoid missing payments to maintain a good credit file

Redirect your mail:

• Use the Royal Mail redirection service to ensure no post arrives at your old address

• Update your address with the DVLA and car insurer if you’re a car owner

• Transfer home contents or pet insurance policies

Leave the property in good condition:

• To receive your full deposit back, leave the property as you found it

Home safety essentials:

• Obtain home insurance to protect against fire, theft and flood

• Consider first aid kits, fire extinguishers, smoke alarms and carbon monoxide alarms

Miscellaneous essentials:

• Stock up on stationary, a vacuum cleaner, torch, ladder and basic tools.

• Update your address for home accessories like curtains, blinds and decorative items.

How to transition from renter to homeowner

Here are some of the steps involved in moving from renting to owning a home.

Step 1: Notifying your landlord

One of the first things people do when moving out is notify their landlord. If you don’t give notice in time, you may have to keep paying rent after you move until the end of your tenancy agreement.

Your tenancy agreement should include the required notice period, and you must give this notice in writing. You may be able to send it by email – you can check your contract to see if this is an option.

The notice typically includes the intended move-out date, along with a request for a final inspection and the return of the deposit.

The notice period depends on your tenancy type:

• Fixed-term tenancy: you generally can’t leave early unless your contract includes a break clause or your landlord agrees to surrender the tenancy.

• Periodic (rolling) tenancy: notice is usually one month if you pay rent monthly. You can check your contract to confirm this.

Step 2: Settling and transferring your accounts

Before moving out, it’s usually necessary to settle outstanding bills and update any services linked to your current address. This can help ensure accounts are closed or transferred correctly and reduce the risk of missed payments. This process often includes:

• Utilities: gas, electricity and water providers are typically notified of the move-out date, and final meter readings are submitted

• Council tax: the local council is usually informed so the account can be closed and a final bill issued. A new account is then set up for the new home

• Broadband and TV: broadband, TV and streaming services can be cancelled, transferred or re‑set at the new address, depending on the provider

• Insurance: home, contents or renter’s insurance policies can be updated or cancelled to reflect the change of address and ensure appropriate cover before and after the move

Step 3: Redirecting your mail and updating key details

Even after contacts, services and providers have been updated, some post can still be sent to a previous address. The Royal Mail Redirection service is often used to forward mail and reduce the chance of important correspondence being missed.

Key updates before moving can include:

• DVLA: driving licence and vehicle logbook records are typically updated with the new address

• Insurance providers: car, home, contents and pet insurers are usually notified to ensure policies remain valid

• Subscriptions and services: memberships, magazines, online shopping accounts and streaming services may need address updates

• Healthcare and pet care: GP surgeries, dentists, opticians and vets are often informed so records and correspondence stay current

Step 4: Preparing homeowner essentials

Once you’ve secured your new home, it might be worth gathering the key safety items and practical tools. These essentials can help you maintain your property, manage small fixes and keep your household safe.

Home safety essentials include:

• Smoke alarms

• Carbon monoxide alarms

• First aid kit

Practical homeowner items include:

• Basic toolkit including screwdrivers, hammer, pliers, tape measure and Allen keys

• Stepladder

• Vacuum cleaner

• Torches/flashlights

For more tips on what to do on moving day, read our moving day checklist.

What changes when you’re a homeowner?

Becoming a homeowner brings new responsibilities. Unlike renting, you’re now fully accountable for the upkeep, running costs and protection of your property. Key changes include:

• Maintenance and repairs: you’re responsible for fixing issues such as leaks, electrical problems, boiler servicing and general wear and tear. There’s no landlord to call, so it can be a good idea to budget for maintenance.

• Utilities in your name: all gas, electricity, water and broadband accounts must be set up, managed and paid by you.

• Insurance: homeowners may need buildings insurance (if required by the mortgage lender) to protect the property’s structure, along with contents insurance to cover belongings.

• Budgeting for financial commitments: your mortgage could become your largest regular expense, and you’ll also need to factor in council tax, insurance, repairs and ongoing household costs.

Schemes that could help you buy your first home

There are various schemes and offers that may be available to support eligible first time buyers. These can vary by developer, location and plot, and are usually subject to specific terms, conditions and eligibility criteria. Examples include:

• Deposit contribution schemes: Some offers may involve a contribution towards your deposit, typically linked to the purchase price. Minimum deposit requirements, caps and availability vary.

• Mortgage rate support schemes: Certain schemes are designed to support lower mortgage rates or reduced initial monthly payments on new build homes, subject to lender criteria and availability.

• Part-buy, part-rent arrangements: These allow buyers to purchase a share of a home while paying rent on the remaining portion, with the option to increase ownership over time. Availability and eligibility rules apply.

• Family deposit support: In some cases, a deposit contributed by a family member may be supplemented as part of a wider offer, subject to lender requirements and scheme limits.

• Key worker support: Eligible key workers may have access to deposit contributions linked to the purchase price, with maximum thresholds and proof of employment required.

To find out more about our new homes and schemes, contact our Sales Advisers.