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Just signed the papers on our first house

SuperDuck

SuperDuck

Sep 26, 2000
10,463
51
Wisconsin
#1
Hoo boy... what a mix of emotions. Mostly excited and ecstatic, there's also a healthy dose of worry and anxiety, too. We signed the papers last night. There's a few steps to be done between here and closing, but at this point it's pretty much a done deal.

The whole thing happened so FAST. We went to an open house about a month ago, and found a house that we really, really liked (it was the first that we agreed on 100%, too). The price was a bit higher than our target, and we really didn't think we were ready. Fast forward to FRIDAY, when my wife notices it's still for sale, with a lower price. Saturday we go for a second showing, make some phone calls Sunday, put an offer in Monday, got a counter-offer and accepted on TUESDAY. Less than a week ago we were "casually looking" and as of yesterday we've signed the papers on a nice fatty mortgage.

We've been in our apartment for two years, and are definitely ready to move on. I'll have room for an office & music room, a shop in the basement, a GARAGE (sweet), and stairs for the cats to run up and down. I'll also have gutters to clean, a lawn to mow, gardens to take care of, things to fix... Our home inspection is on Friday; I can't wait to see what sort of stuff he finds.

I definitely have no regrets, but this is way more responsibility than I've ever had!
 
#3
I'm setting up the appraisal and inspection for the townhouse I'm close to signing on, but have to put it off for a few days for the NYC GTG.

Congratulations on the new buy! It's daunting but exciting, and - the best part - it's YOURS!
 
#9
#10
seanm said:
Congrats! We've lived in our house almost 11 years now, and I still go outside sometimes and am amazed that we actually own this. :D

And before anybody says "no pics, no house", here they are (I hope this public link works):

http://www.facebook.com/album.php?aid=13509&l=0923e&id=710512049
Click to expand...

Buried rocks ...

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With the axe that close to the fresh soil, I'd say... *whispering* *caaallll the poooooliiiicce*

:D:D:D

Nice house you got dude!! All good luck to ya!!

And I see you got a studio construction project comin up too ...

[Invalid or Expired Link Removed]


EDIT: Oh, I misinterpreted this thread, this was not OP's new house, oh well, still a nice house though!

:):):)


D.Don
 
#11
gold_member_321 said:
That's a nice house. What kind of siding is that I've been looking for a new siding for mine because the people who built it used Vinyl siding and I absolutely HATE IT in my woodsy neighborhood.
Click to expand...

Tongue and groove wood siding. It is not original but it was on the house when we bought it. The original siding would have looked more like the garage.

I believe it is just pine... I put stain on it to get the darker colour.

It looks good but is a PITA. I have to keep putting varnish on it, especially on the side that gets full sun.
 
#13
No pics no house!

1004662ax.jpg
 
#19
That rocks!

As far as the finance end of it, try for a 15-year mortgage. The payments are usually about the same as a 30-year, but you build up equity MUCH faster. Plus, if you can, split the payment to come out of your account every two weeks, if you get paid that way. That will shorten your mortgage to about 12 years. If you have, for example, a payment of $412 every two weeks, try rounding it up to an even $500. Apply the extra to the principle, and you are REALLY gonna notice a difference in your balance, even after only one year!

We recently refinanced our house, went from a 10.37% ARM, 30 years, and a 10.00% ARM second, to a single 15-year note, bi-weekly, autodraft. Our original house payment that we replaced with the 15-year note actually went DOWN. Plus, I rounded the payments UP by only about $75 a month, and in the 6 months we've been here, we're already at where we would have been in 13 months, had we only paid the regular monthly note. I plan on increasing the overpayment amount by around a hundred bucks, that will shave another 3-4 YEARS off the loan, plus save a buttload of interest! :hyper:

Anyway, congrats, good luck on the closing, and may you get favorable terms on a house that needs no work!
 
#20
Congrats! It's nice to have your money go into something that should return on the investment in most cases, instead of vanishing away in rent. It brings on new responsibilities to be sure, but even when you have to replace a water heater or get the furnace fixed; you'll still be ahead of the rental game. Best of all it's a home that you can truly call your own.
 

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