OT : Todays a big day for me

[OrangeNemesis]

Today is a big day for me. In just under 2 hours I will be closing on my home and becoming a first time home owner. Im super excited to finally be in the position to do this. What kinda advice can everyone give me as a first time home buyer? Anyone huge expenses you guys run into your first year? Anything i should be aware of.

 

I will also accept sarcastic comments as well as pictures of comic books in response.

[Karma23]

Making thos mortage payments seems to be a key in keeping the house, but that's just what I'm hearing...Congrats!

[MutantKeys]

Congrats (thumbs u

[nik]

Take your time and be selective in furnishing each room. Dont buy furniture just for the sake of having it. One room at a time.

 

Congrats BTW, its a great feeling once you unlock the door to your new home.

[brasseye]

Kerosine lamps...flares... running chainsaw's....termite colonies....truck engine overhaul...and small children

 

...are best kept for outside of the house. (thumbs u

[OrangeNemesis]

Ill be posting a picture of me and the lady with our sold sign....

 

We are painting and putting down hardwood floors first and then going form there as far as furniture and stuff. Im gonna take the first year slow and do things a calm pace so i dont get to overwhelmed.

[Comicdey]

It sounds like it's too late for any substantial advice....Congrats on your first home...in 2 hours.

 

Here's a few bigger ticket items.

 

Make sure you actually read the numbers of the loan and it matches the earlier disclosure in lending statement....or at least is darn close.

 

Make sure you had a home inspection. Surprisingly, even as an engineer, I think it's a good idea.

 

Have the furnace checked for cracks in the heat exchanger if you have forced air.

Make sure you have some life in your roof system.

 

Enjoy.....pay your taxes...and live well...

 

 

Cheers

 

 

 

 

 

[OrangeNemesis]

Kerosine lamps...flares... running chainsaw's....termite colonies....truck engine overhaul...and small children

 

...are best kept for outside of the house. (thumbs u

 

 

you mean to tell me all the 2 am chainsaw and flare parties are going to be over now.....

[BlowUpTheMoon]

[OrangeNemesis]

It sounds like it's too late for any substantial advice....Congrats on your first home...in 2 hours.

 

Here's a few bigger ticket items.

 

Make sure you actually read the numbers of the loan and it matches the earlier disclosure in lending statement....or at least is darn close.

 

Make sure you had a home inspection. Surprisingly, even as an engineer, I think it's a good idea.

 

Have the furnace checked for cracks in the heat exchanger if you have forced air.

Make sure you have some life in your roof system.

 

Enjoy.....pay your taxes...and live well...

 

 

Cheers

 

my father is a county building code inspector so he did the inspection for me. Luckily in my case the sellar is paying all my closing costs. I feel pretty confident coming into this as im sure i have most of my ground covered. Just the nervousness of spending such a large amount of money makes me want to ask for advice.

[Paratrooper]

1: Get a fixed rate, and do not refinance at least for 5 years...no matter how good those refinancing people make it look.

 

2: Invest in yearly termite protection

 

3: If you have kids check the internet where your local sexual offenders live.

 

4: When you go on long vacations in the winter, turn off your water.

 

there's more but I forget

[lizards2]

Today is a big day for me. In just under 2 hours I will be closing on my home and becoming a first time home owner. Im super excited to finally be in the position to do this. What kinda advice can everyone give me as a first time home buyer? Anyone huge expenses you guys run into your first year? Anything i should be aware of.

 

I will also accept sarcastic comments as well as pictures of comic books in response.

 

 

What the other Freak Bros always told Fat Freddy....., "Whatever you do, don't it up!"

[OrangeNemesis]

1: Get a fixed rate, and do not refinance at least for 5 years...no matter how good those refinancing people make it look.

 

2: Invest in yearly termite protection

 

3: If you have kids check the internet where your local sexual offenders live.

 

4: When you go on long vacations in the winter, turn off your water.

 

there's more but I forget

 

got a 30 yr fixed at 5.75%. My parents were right about never messing up your credit.

[Comicdey]

Sounds like you're covered....

 

Go out for dinner and celebrate....

 

Cool Beans Man....

[MK Ultra]

Roof is important.

 

Are you near the shore, hurricane's and all you know. Storm shutters would be nice.

 

Home warranty might not be a bad idea for the first year. I think it's like $300 and covers most aspects.

 

Heating and cooling systems are key. Change the filters, make sure you've got insulation.

 

Major appliances are important. Keep them clean and maintained.

 

Watch the exhaust on your dryer for lint buildup.

 

Security is good to know. I had wooden poles for the sliding glass doors. They make screw on things for windows and stuff.

 

Get to know your neighbors.

 

Learn to do yard work.

 

Make a budget and include unanticipated expenses and money for big ticket items. You don't buy them often, but it'll be easier when you've set aside a couple hundred a year for such things.

 

When we bought our first place we went to several yard sales and got some really nice stuff from people moving and huge discounts. We did it again when we moved across country, our dining room set was $450 and is like new. We saw it in a furniture store for $3,300 list price. Craigslist may be a good avenue too, we got our sofa and computer desks there.

 

 

Find the closest Home Despot, Lowes, or Ace hardware, you'll spend lots of time there.

 

 

[Ringfinger]

Oh, and don't let your wife get too crazy with the decorating. You need some money to buy books.

[tilleycs]

Congratulations!!! We closed on our first home in mid-April of this year. We love not having to in apartment complexes any more. We always lived under people who either had small children who ran in the apt. (a LOT) or under college kids who had loud parties.

 

Biggest thing is to be patient and smart w/ your finances. It takes time to furnish a house, even if you own plenty of furniture already. Hopefully you and your wife are good at the art of compromise and negotiation.

[chrisco37]

First of all, congrats!

 

Is it a brand new home? I wouldn't put in hardwoods just yet. Save yourself the money and trash the existing carpet first (especially if this is a brand new house). Hardwood floors are expensive (even if you're installing yourself), and don't forget the additional costs of area rugs throughout.

 

Agree with Nik on the home furnishing advice. You're going to be there for awhile, so you've got plenty of time to set it up. Home furnishings add up real fast!!!

 

Paint before you move in. Alot easier that way. Don't paint any room red! It may look good, but you're looking at 2 coats minimum, probably more if you want it to look really nice.

 

Also, don't cheap out on your paint. Walmart paint will take twice as many as something like Behr (Home Depot higher end). Pay some painters if you've got the money (but provide them with the paint yourself so they don't gig you there). Will save you all kinds of hassel and heartache. I painted most of my house myself, excluding my "great room/living room" which has 24' ceiling at the highest. I had painters do that. Their work looks much better than mine.

 

If you've got extra dough, pay for some movers. Especially if you've got a good amount of stuff and you're not moving too far. By the time you pay for the Uhaul rental, pick up the truck, drop it off, regas, etc... you're only going to pay about $100 more for the movers. Your time and back and hassel are worth more than that.

 

If you are going to pay someone to do stuff for you, get quotes from a bunch of people first. Never go with the first guy off the bat. Since your dad is an inspector, see if one of the builders he does inspections for can hook you up with some of their vendors. You might get a better price.

 

For example, I had a few estimates come in for painting my big room. The highest was roughly $600 (with me providing paint). I ended up going with the guys that paint the houses I build. They charged me $50/hour for a crew of 4 guys. Knocked it out in 7 hours.

 

Oh, and if I didn't mention it before, paying for movers was the best idea ever!

 

 

 

 

 

 

[Ringfinger]

I 2nd the notion on the painter. We did everything except for the ceiling in the foyer. same issue with the height.

[OrangeNemesis]

The home is pre existing (built in 1996). Were doing the engineered hardwood to save money. We are painting the interior this weekend. We went with Sherwin Williams paint (optimistic yellow). Its a very subtle yellow. Ive got pretty much everythign packed so far. I thought about movers but i honestly dont think it would make sense because my house is only 6 miles from my current apartment.

 

And i have already told the lady that this years tax return is going to comics. hehe.