We Bought Our First Home!

[Pete Incaviglia]

Yeah, it's a self congratulatory thread. So what?

Yup. Me and the Mrs. bought our first home. Three bedrooms, two bathrooms, finished basement, on the edge of the city, no neighbors in the backyard, just a nice green meadow designated "urban renewal" (read: no development) by the city.

It needs some work. The lady who owned it was 88 years old. Wallpaper everywhere. But, that can change.

I'm pumped and scared ****less at the same time. The mortgage rate was super low. The house was, of course, a steal. But, in this economy we could all be out of a job tomorrow.

At any rate, we took the plunge and still have $25K in emergency savings if the worst thing possible should happen.

 

[The Good Doctor]

Congrats, Pete.

 

[Angola!]

Congratulations. That is really awesome that you have that much money left over.

I'd build a fence in your backyard if you don't have one already.

Owning a home is one of the most rewarding things life has to offer.

 

[Pete Incaviglia]

A fence is there, but it's of rustic ilk - kind of goes with the meadow. But I will change that eventually. No hurry yet. The little can barely walk. But I'll be fencing it in for sure.

 

[zeke12]

Congratulations, Pete!

If you've got a good down payment, it's a buyers market most places right now.

 

[Pete Incaviglia]

That was the case here Zeke. We had a big down payment. The market is super soft. And rates were low.

 

[Angola!]

A fence is there, but it's of rustic ilk - kind of goes with the meadow. But I will change that eventually. No hurry yet. The little can barely walk. But I'll be fencing it in for sure.

Then you're set. I just never understand people who don't put in a fence.

Oh, and as I'm sure you know, a little paint goes a long way to making the inside of your house look completely different.

 

[Tom Petty]

A fence is there, but it's of rustic ilk - kind of goes with the meadow. But I will change that eventually. No hurry yet. The little can barely walk. But I'll be fencing it in for sure.

there's a lot of ilking taking place tonight.

 

[slappy4428]

If you haven't closed yet, I would suggest strongly getting an insurance policy to cover any repairs in the first year.
We didn't get one and had a leaky roof and central air go out...
You should be able to get it through the agent...

And congrats!

 

[Angola!]

A fence is there, but it's of rustic ilk - kind of goes with the meadow. But I will change that eventually. No hurry yet. The little can barely walk. But I'll be fencing it in for sure.

there's a lot of ilking taking place tonight.

Yeah, it's a strange word. And it has been used a lot tonight.

 

[Tom Petty]

A fence is there, but it's of rustic ilk - kind of goes with the meadow. But I will change that eventually. No hurry yet. The little can barely walk. But I'll be fencing it in for sure.

there's a lot of ilking taking place tonight.

Yeah, it's a strange word. And it has been used a lot tonight.

ilk this, 'gola.

 

[Pete Incaviglia]

If you haven't closed yet, I would suggest strongly getting an insurance policy to cover any repairs in the first year.
We didn't get one and had a leaky roof and central air go out...
You should be able to get it through the agent...

And congrats!

Oh ****. That's the other thing I didn't mention. Since 2003, the roof, the central air, the windows and the garage door opener have all be replaced. It's like a brand new home. Hell, it's only 20 years old. We just caught it for sale after all the major work was done.

 

[Baron Scicluna]

Congrats!

And don't forget to take a moment to give yourself a pat on the back.

There will be a lot of memories, and some stresses, in your new house. In my first year, I remember being terrified over every little thing that went wrong. Now after a few years, I'm a little more relaxed.

 

[slappy4428]

If you haven't closed yet, I would suggest strongly getting an insurance policy to cover any repairs in the first year.
We didn't get one and had a leaky roof and central air go out...
You should be able to get it through the agent...

And congrats!

Oh ****. That's the other thing I didn't mention. Since 2003, the roof, the central air, the windows and the garage door opener have all be replaced. It's like a brand new home. Hell, it's only 20 years old. We just caught it for sale after all the major work was done.

Find out how much it is and get it if it's reasonable... Furnace ****s on you in the first year and you're out the full cost...

 

[Shaggy]

I love being a homeowner. I had major buyer's remorse when I took the plunge, but you get over that fast.

It is very rewarding. And you learn something every day, and every time something ****s up. Gotta love that.

 

[BYH]

That's unpossible. Nobody's buying. We're all living in the streets.

Congrats Pete!

 

[jps]

way to go, pete! we're in the process of looking and wanting to get out of our apartment. taking a first-time home buyer's class in march, and we're supposed to be able to be eligible for a grant toward the downpayment, up to five grand. hate waiting, but will definitely be good with some free money.

found a could of places we love. one really nice inside with a great backyard, landscaped and all. another I fell in love with the kitchen and everything about the inside of the place, though not as great a back yard. first is from an owner, the second is a new home. not sure which we like more, but nice to know there are some we like in our range.

let's keep this thread going, right along with the newborn thread, huh? I'm gonna have lots of buyer questions here soon. :)

 

[Inky_Wretch]

Congrats Pete.

Get a copy of Ortho's Home Improvement Encyclopedia. If you're not familiar with doing small repairs, it'll walk you through them. If you are handy already, it'll help you learn new skills.

 

[93Devil]

Congrats.

You will really enjoy doing your taxes next year.

When you paint, and I am pretty sure you will be in the next 12 months, buy Behr and do not skimp on the rollers.

Lime is cheap and so is fertilizer from the Home Depot. It will make your grass look great for very little investment.

If you like working with your hands, you are going to love owning your own house. Hopefully The Home Depot is close because you are going there every weekend. :)

 

[93Devil]

Oh, take a ton of pictures of the place before you start working on it.

It will be fun to go back and compare in 2-3 years.