So...i just bought my 1st house

Ericnmel99

Ericnmel99

CAGiversary!
Well after months and months of waiting...my wife and I finally closed on our 1st house. I dont know if anyone cares or not, but im pretty proud of ourselves for accomplishing it. Thank you to cheapassgamer.com to help me save money toward my house :wink:
 
Target has better furnishings.

Congrats man, I remember the feeling when my wife an I bought our house. Good to get out from under the boot of a landlord.
 
[quote name='Squirms']Target has better furnishings.

Congrats man, I remember the feeling when my wife an I bought our house. Good to get out from under the boot of a landlord.[/quote]

Definatly....its such a good feeling to know that something is actually yours...instead of just pouring your money away to someone else. Its also going to be good around tax time!
 
Congrats! Getting through closing is a hge step! My wife and I bought our first house almost exactly two years ago. It's a neverending stream of work that needs to be done, but it's worth it :)
 
Congrats. Welcome to the world off incredible tax write-offs.

Also, FYI, paying just an extra $20.00 a month on your mortgage payment can shave years off the end of your loan.
 
Congrats!

Now you can have the joy of fixing everything that breaks...

Make sure you take time to make the house your own. My wife and I have slowly gone through our house and redid rooms, refurnished, pained, fixed walls, replaced carpet...etc...but the great thing is...it's all yours!

What %rate did you get?

We refinanced last year at 5.5%
 
Im going through SONYMA which is a state of NY program for first time home owners.... I got a locked in 4.5% intrest rate, and they also gave me $6,600 toward closing costs. I was very happy with that, and i shouldnt have to worry about refinancing ever.
 
Congrats. :D My wife and I closed on our house back in May. We are lucky in that her father's business is building houses. Our house needed minor stuff done inside, such as new molding all around, so we got 95% of it from her father, who had the stuff leftover from previous jobs sitting in his garage.
 
I swear ... I have no idea how Lowe's stayed in business before I bought my first house this summer ... since I now buy everything they stock.

Congrats and welcome to the true American way of debt and spending. I had no idea I could owe money to so many different people at the same time.

I look forward to the tax breaks ... and drinking beers on MY deck is always the best.

And make sure you buy yourself a Wet-Vac, whether you think you need one or not. Some day you will, and on that day you will thank me.
 
Yes...its a strange feeling how i look foward to buying my own wet-vac and power tools. I never had the need or urge to even look at anything like that before, but now i think home depot will be my new Best buy
 
[quote name='Ericnmel99']Im going through SONYMA which is a state of NY program for first time home owners.... I got a locked in 4.5% intrest rate, and they also gave me $6,600 toward closing costs. I was very happy with that, and i shouldnt have to worry about refinancing ever.[/quote]

Holy crap! They gave you $ 6600?! Nice!
 
Nice- just make sure that you have a game room.. :)

5.875 ourselves- but thats because the wife and I bought well over a year ago.

Hope your neighbors don't belive in fireworks.
 
[quote name='Backlash'][quote name='Ericnmel99']Im going through SONYMA which is a state of NY program for first time home owners.... I got a locked in 4.5% intrest rate, and they also gave me $6,600 toward closing costs. I was very happy with that, and i shouldnt have to worry about refinancing ever.[/quote]

Holy crap! They gave you $ 6600?! Nice![/quote]

Yeah....closing costs are about $10k...so i only have to shell out $4400 now. Its really a big help because even though i had the money to cover closing, now i can put it toward repairs/inprovements.
 
[quote name='Ledhed']Wow, I just noticed you live on Long Island. I have tons of family there.[/quote]

Where at?
 
[quote name='Ericnmel99'][quote name='Ledhed']Wow, I just noticed you live on Long Island. I have tons of family there.[/quote]

Where at?[/quote]

All over Long Island. I'll never remember the names of the cities though. But all of the family on my mother's side are in or around Long Island.

EDIT: BELLMORE! That's the damn name. My grandparent's live in Bellmore. My uncle used to be part of the Bellmore Fire Dept., but he has since moved to another part of Long Island.
 
A friend of mine once game me a small piece of advice about 4 years ago when my wife and I bought our home...

You don't own your house - your house owns you.

I kind of chuckled at this at the time, but I've found it to be pretty accurate - just not in a bad way. :D Congrats!
 
[quote name='friedram']Wow- a house in Long Island- how much did the house go for! Isn't that spendy territory?[/quote]

Yes quite the $$$$$ area.... I live in Levittown, which i would consider your average neighborhood and i paid $344K. Everything else basically goes up from there.
 
[quote name='daikaiju']A friend of mine once game me a small piece of advice about 4 years ago when my wife and I bought our home...

You don't own your house - your house owns you.[/quote]

In Soviet Russia... nah, too easy. :wink:
 
[quote name='Ericnmel99'][quote name='Backlash'][quote name='Ericnmel99']Im going through SONYMA which is a state of NY program for first time home owners.... I got a locked in 4.5% intrest rate, and they also gave me $6,600 toward closing costs. I was very happy with that, and i shouldnt have to worry about refinancing ever.[/quote]

Holy crap! They gave you $ 6600?! Nice![/quote]

Yeah....closing costs are about $10k...so i only have to shell out $4400 now. Its really a big help because even though i had the money to cover closing, now i can put it toward repairs/inprovements.[/quote]

And by repairs, you mean more cheapass games right? :wink:
Congratulations on the house!
 
Would anyone know where maybe I can get government assistance or a program on buying a home in the ChicagoLand area?
Currently, I'm looking at a house in Oak Park, IL and its around $310, 000.
 
[quote name='Ledhed'][quote name='daikaiju']A friend of mine once game me a small piece of advice about 4 years ago when my wife and I bought our home...

You don't own your house - your house owns you.[/quote]

In Soviet Russia... nah, too easy. :wink:[/quote]

Funny you should say that, I almost posted "no Soviet Russia jokes please" :D
 
Congrats on yuor purchase. I bought my first house about a year ago now that I think of it. Glad you got in a low rate....I wish Michigan would do something like that, although I got a decent rate on my loan. Although, I did an 80/20 loan so I avoided paying PMI but technically have two loans. Works out good though. Rather do that than pay PMI, which basically is money you are throwing away.

Learn to love Home Depot/Lowes. It's always fun to redo a room. The fiance and I have painted a few rooms and the new project is putting crown molding in my dining room.

Enjoy
 
Don't know if there's an Ikea out there - but definately get stuff from there. They're a little cheaper than other places, but man, the stuff there looks great.

However - quality is a little lacking since a lot of particle board is used - but hey better than the stuff at target and k-mart people are saying.

But then again - since I see you're in NY - go to China town and do some real bargaining. Seriously, shady chinese places give huge discounts if you go straight cash.

"5 dollla make ya holla"
 
Congratulations. We just closed on our place in August, and I've had to put a curtail on most of my video game spending while I bought tools instead. Granted one of the purchases was a 2500 dollar tractor, but you'll find out you will need all sorts of things you didn't expect. Just last week I bought a 32' extension ladder to clean out my gutters. If you're looking for a ladder try Amazon because they'll price match, and right now ship it for free! Lowe's wanted 55 dollars to deliver a ladder 10 miles away.
 
Aaahh gutters ... I know that world now too. And not to forget fun things like sump pumps, hot water heaters, power washers, post hole diggers, and more!

Suddenly all those aisles in Lowe's that I though were for "other people," have all the things I need.

On the bright side ... I now actually know where everything is for once inthat massive store. The bad thing is I onlly know because I have one of everything charged onto my credit card.
 
[quote name='Ericnmel99'][quote name='friedram']Wow- a house in Long Island- how much did the house go for! Isn't that spendy territory?[/quote]

Yes quite the $$$$$ area.... I live in Levittown, which i would consider your average neighborhood and i paid $344K. Everything else basically goes up from there.[/quote]

Cool....Someone else on the Island. I'm in Farmingville
 
at least you got it before interest rates skyrocketed :(

im going to graduate and by the time i get settled in i will pay thousands more than i would today
 
Congrats - I took the step about a year ago. You'll love home ownership. Remember, a stitch in time saves nine .

Fix that turlet leak before you get a flooded bathroom.
 
Congratulations. :D

I'm just glad that I don't have to worry about that for some time. I've got to make it through high school and college before I even think about that...
 
Congrats. speaking of home depot, i saw a car this weekend that looked like it was fixed at home depot. the bumbers were replaced with wood and the trunk and hood were locked with small pieces of metal and padlocks.
 
When we got our rate back in June interest rates were going up and we locked in at 6.25%. Right after that rates fell again. About the time we were ready to close on the house rates were down about a 1/2 point. We called the loan office and threatened to cancel the loan and go to another lender unless they dropped the rate. We ended up getting a fixed rate of 5.75% for 30 years. 1/2 point doesn't sound like much, but over the life of the loan it was a phone call that will save us almost 20,000 dollars.
 
Well, not really, unless you are actually going to stay in that house for 30 years. I'm probably going to move in another 5-6 years, assuming I have kids and outgrow my house.
 
check with local HUD's, they have an assortment of plans for first time home owners....I got my closing cost covered, and additional 11k put down on the house. If it is forgivable loan..every year i live their 20% of the loan comes off...If I sell the house before 5 years...then I have to pay back some of it...but if I keep it 5 years, then the 17k that I got, I don't have to pay back...they require that you take a first time homeowners class...I just got my first house in mid aug....congrats on buying your home
 
[quote name='The_Continental']What rate did you get? (If you don't mind my asking)[/quote]

I got a fixed rate at 4.25% for 30 years
 
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