I am a first time home owner

… as of about an hour ago.

Go me!

That is all.


Care to brag about your interest rate? They’re really low now.

I got 5.5, but it was an FHA and stuff.

Just remember this so you are not surprised- every single repair leads to three other problems that need to be fixed, and each of those repairs will cost three times more than you originally assumed. And the older the house, the equation will go up exponentially.

Wishing you luck and joy in your new home! :slight_smile:

Thanks for the advice! (But don’t worry, my brother and I have a remodling/construction business that we run on the side… its all good :wink: )

As a first time home owner don’t you qualify for some sort of a tax break?

That’s a good thing! However, it will not offset the corollary of pabstist’s theorem. The corollary is that, even if you’re only going out to buy a roll of shelf paper or a single light bulb, any trip to a big box store will result in you spending a minimum of $60. And there will be many such trips.

Seriously, though, congrats on your new home!

Yes, did you get the Federal Housing Tax Credit?

Trust me, it’s good money. Good money.

/lovingly pats his $8000

//edit - the website is kinda pants. It looks like at least on timing you qualify since you bought before April 30 2010. Look into this now. Call your accountant. File. Get the money. I got mine in just a few weeks.

That first significant problem that happens, and there’s no landlord to call to fix it… that’s not such a good feeling. But you’ll get past it, and it is worth it, IMO.

We got 3.89% for five years fixed this summer (but we don’t get tax credits for anything related to mortgages).

Congratulations! It’s yours, all yours! Well, about five % of it is. :slight_smile:

Congrats! Though having a remodeling/construction business is really cheating. Nothing quite beats going to the local Lowes at least once daily for the first week or two, to get something you’re not quite sure what is, but you think you desperately need to fix a problem you didn’t know you had the day before…