this post was submitted on 29 Nov 2024
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[–] [email protected] 61 points 3 weeks ago* (last edited 3 weeks ago) (5 children)

Congratulations!

I've had my place 20 years. Here's a couple of tips:

If you're not already in a fixed rate loan, refi into one as soon as its feasible for you.

The Home Depot 1-2-3 series books will save you thousands in basic troubleshooting and repairs. YouTube is really good for general handyman advice too. Caveat: learn your limits and don't take on anything you don't know ypu can see through. Several hours' research is generally all you need.

Be judicious about home warranties. They'll spam you with FUD. Just hang out at a local trades bar and chat with the regulars. You'll learn a lot.

Electric and water generally* pretty are easy. Don't mess with the gas lines.

If you DO undertake your own repairs, don't cut corners and leave it for the Next Guy. That Next Guys will inevitably be you.

Nothing will be plumb, square or true. You learn to deal with it.

If you like to use rich colors in your décor, learn about tinted primers, especially when dealing with red paints.

Equity is Capital. Don't touch it except for capital improvements to the structures & grounds, and even then be judicious. I'm talking new roof, new sump, kitchens & baths. Do not usenit to pay off consumer debt or college loans. No matter how tempting.

Really, Don't Touch The Capital.

Live there for you. Its your house. Make it your personal retreat from the world, and set it up how you like it. Don't worry about resale until it's actually time to sell.

Again, congratulations and good luck!

--
* for basic repairs, receptacle replacement, and the odd new branch. Know your limits.

[–] [email protected] 13 points 3 weeks ago

Lots of great advice here. I'll 2nd the YouTube as a resource. I've repaired AC units, a garbage disposal, and replaced the damn water heater all from an hour or 2 of research and watching YouTube.

Also keep a note book that you jot down the seldom done stuff, like blowing out sprinklers, which furnace filter size you need, etc.

Anything you buy for home improvement, from new cabinet handles to drywall, get an emailed receipt and put it in a special folder/tag that you can find again when you sell. Those dollars spent are tax deductible when you sell your house.

Builder's grade = cheapest shit they can buy in bulk.

Enjoy your new house!

[–] [email protected] 9 points 3 weeks ago

Live there for you. Its your house. Make it your personal retreat from the world, and set it up how you like it. Don't worry about resale until it's actually time to sell.

One additional thing I'll add: make "nice" repairs, e.g. things that you normally repair when you're about to sell the house (e.g. wobbly toilet paper dispenser, crooked trim, etc.) as your budget and time allow. These things add up when you're selling and you'll regret not having your place look nice when you lived there.

These are nice weekend projects and often help you learn basic home repair.

[–] [email protected] 9 points 3 weeks ago (1 children)

I'll second the last bit. I've got too many friends who bought their houses and they're so insanely worried about "well what if the paint color on the outside makes people not want to buy the house" or whatever. That's (hopefully) a problem that's years and years in the future, and you shouldn't have to worry about it. Don't worry about how other people might see it - it's your house, and you should do things that please you. Always wanted a bright pink bedroom? Go for it.

[–] [email protected] 5 points 3 weeks ago* (last edited 3 weeks ago)

Yep, for me that's the number one principle of home ownership - it's my house, I'm gonna make it the way I want it. If the time comes when I sell it, somebody will like what I did. Even if some real estate agent insists that I paint everything white, I'm never painting a fucking brick fireplace white.

[–] [email protected] 3 points 3 weeks ago

The home improvement book.

It's on Amazon used for super cheap. I just paid $2.99 + $4 ship for it

Thanks!!

[–] [email protected] 1 points 2 weeks ago (2 children)

Great comment, though I disagree with

Electric and water generally* pretty are easy. Don’t mess with the gas lines.

I've done all three in multiple houses now, and I'd say that water and gas are pretty easy. Electrical is where you can get yourself in real trouble.

If you screw up water or gas you're going to know it. The tiniest gas leak smells noticeably even in larger spaces. Water leaks usually become evident once you turn the water on. If you inspect your work afterwards you'll find it.

Electrical is another story. You can turn on the circuit and everything works and you think you're good, but you've somehow switched the hot and neutral, which is dangerous. Or you used 14 gauge wire on a 20 amp circuit, which will be fine until you put a huge AC unit on that circuit and start a fire inside your walls. I'm not suggesting you shouldn't do your own electrical, because once you know the basics you're going to be fine, but as far as dangerous conditions go electrical is the one I worry most about.

[–] [email protected] 2 points 2 weeks ago

+1. Honestly, any of the three can be a recipe for disaster, especially when messing with DVW.

Of all of them, gas is the one that can be explosive, although crossing electrical pairs is a big risk too. I bought my house from an electrician, and you probably would not be amazed at the number of 20A breakers on 14awg branches. There were at least 3 I've swapped back to 15A first time I cracked open my panel.

To every man his domain, I say. Myself, I grok electric and plumbing. I hate messing with gas.

[–] [email protected] 2 points 2 weeks ago

I'm Australia electric and plumbing are the two licensed trades.

That's cause they're the two the if you mess up you do massive damage ( plumbing covers gas fitting )

If you're a not a carpenter and screw up your kitchen you live in a shit kitchen.

If you do electric work turn in on and you have electried the frame of your house or you taps you die

[–] [email protected] 53 points 3 weeks ago (1 children)

Enjoy your home OP. May you live out many happy years under its shelter.

[–] [email protected] 17 points 3 weeks ago

Thank you very much, kind stranger

[–] [email protected] 37 points 3 weeks ago* (last edited 3 weeks ago) (7 children)

Don't let any contractors into your house until you've lived there for at least a few months, and learn how to recognize high pressure sales pitches from them. They'll take advantage of you if you don't. Always get more than one quote. If you're as much as tell them you're getting multiple quotes, they'll start lowering their prices pretty dramatically.

Examples of high pressure sales tactics:

They'll insist that your spouse be home during the demonstration. That's red flag number one.

They'll go to get something from their car, and Ithey'll ask if it's okay for them to let themselves back in. Most homeowners don't think anything of this, but this is actually a psychological trick. The idea is that you wouldn't allow someone to let themselves into your house unless you trusted them, and if you trust them, you're much more likely to do business with them.

They'll spend 3 hours talking about how great whatever it is they're selling is, and it will start to feel like the only way to get these people out of your house is to sign a dotted line.

They'll do whatever they can to stop you from talking to other companies. That's why they'll start lowering their prices as soon as you mention that you're getting multiple quotes.

[–] [email protected] 3 points 3 weeks ago (1 children)

After 30 years of owning my own home my red flag is when they say "this is going to be a big job".

[–] [email protected] 1 points 3 weeks ago (1 children)

Probably because it is, they don't like you, or they don't want the job.

I'm not trying to be mean, but contractors will price it outrageously or say "this will be a big job" because they don't want the job, so you say no.

[–] [email protected] 1 points 3 weeks ago

I have plenty of experience working with contractors. I am a contractor. Many of my friends are contractors. When there is an abundance of work they'll bid high. If they don't get the job no big deal. If they get paid well then why not take it on, push lesser paying jobs back. Both times I heard this phrase they were making a big deal about nothing and I got someone to do it much cheaper.

[–] [email protected] 1 points 3 weeks ago

Ehhh some of this is great advice about sales tactics, but you should definitely get a contractor to come out and look over the place again.

Reason being is if there is something that was missed in your initial inspection that another contractor found, you can go back to the realtor and demand them to be fixed. Especially for new builds.

However you only have a small window for this, because if you wait too long the realtor and or contractors can say it was you and it's not their responsibility.

Also you should always get multiple bids from several contractors. If someone is going to do the job at a really low price, that means that contractor will cut corners, and do more harm than good. If someone is giving you an astronomical price that is completely unreasonable that means the contractor doesn't want the job.

There is also this other "tactic" that construction companies know very well. That is if the company is trying to give you a deal, you as a customer are going to nitpick every little thing. Flip side, if they mark it up the customer will always believe it's the best job that was ever done.

Source: my step father owned a large legit construction company, that I worked for, and my bio father owned a small shady construction company, that I also worked for.

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[–] [email protected] 20 points 3 weeks ago (1 children)

Congrats! You're now going to find out that some of your expenses will go down. Your insurance specifically and that unless you take out another loan on the house or got a balloon loan, your monthly bill won't change. It's a fun thing to find out.

[–] [email protected] 5 points 3 weeks ago (1 children)
[–] [email protected] 19 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

It's still a weird feeling when you;re 3 years later and everyone is complaining about their rent going up and yours is staying still. It kind of feels like cheating.

[–] [email protected] 6 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

100% agree. It's crazy that we have 30 year fixed rate loans with basically no penalty to refinance. Don't get me wrong, it's working for me, but I wish it was different because it's so unfair.

[–] [email protected] 8 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

I think you misunderstood me, rentals should have more of limit on how much they can raise the rent, not that banks should get more money from homeowners. I guarantee that banks are making a shit ton of money or they wouldn't do it.

[–] [email protected] 0 points 3 weeks ago (1 children)

I definitely agree that rent should be much more controlled and affordable. And yeah banks definitely don't need more money. But a majority of Americans have fixed mortgage rates under 4%, which makes a lot of them keep their old house when they move, and just rent it out. Which just makes it harder for people to break into the housing market. And houses are an investment that renters don't have access to, and that's just one of tons of things that keeps poor people poor.

[–] [email protected] 3 points 3 weeks ago* (last edited 3 weeks ago)

which makes a lot of them keep their old house when they move, and just rent it out.

Yeah, that's not a thing:

Meet the Billionaire Investors Behind the US Housing Affordability Crisis

With roughly 800 billionaires in the U.S. with combined wealth of $6.2 trillion (and 2,781 billionaires globally with over $14.2 trillion), ultra-wealthy investors tend to diversify their holdings across multiple kinds of assets. A huge amount of this billionaire wealth is invested in property, land, and housing. Billions and possibly trillions of dollars are sucked into predatory investment practices and luxury housing schemes — where global billionaire investors park vast quantities of wealth in U.S markets.

This is not your grandparent’s gentrification, but rather a hyper-gentrification fueled by concentrated wealth driving up land and housing costs, expanding short-term rentals, and treating housing like a commodity to speculate on or a place to park wealth. The billionaires are displacing the millionaires, and the millionaires are disrupting the housing market for everyone else.

[–] [email protected] 17 points 3 weeks ago

OP searching for years when they're on every street

[–] [email protected] 13 points 3 weeks ago

May your foundation be sturdy, and your roof leakfree. Godspeed OP.

[–] [email protected] 9 points 3 weeks ago (1 children)

We're in the same boat. We're just waiting for an official moving date. We've been moving boxes today. Scary times doing grown up things.

[–] [email protected] 4 points 3 weeks ago

I was in your situation until about a week ago. It's such a relief once the bed moves and you get to start sleeping in your new house, but the first few sleeps were not very restful for me. Try to replicate your good sleep situation as best as you can. For me, that means a fan for air flow and white noise, plus blackout curtains to block out both the sunrise and outside noises. I'm assuming you would bring all of your normal bedding stuff.

I think that the best part was waking up in the house and being able to get coffee brewing and breakfast cooking while playing some Ray Lamontagne on the stereo. Do yourself a favor and think of how you want to start your first morning in your house and set yourself up!

Congratulations!

[–] [email protected] 7 points 3 weeks ago (1 children)

Congrats bro! I'm happy for you and also a bit jealous 😁

[–] [email protected] 2 points 3 weeks ago

As you should be 😁

[–] [email protected] 6 points 3 weeks ago* (last edited 3 weeks ago)

The time my coworker told me she signed the papers to buy a house the previous night. "I went home and had 3 beers for dinner."

[–] [email protected] 4 points 3 weeks ago

Congrats, I read it as horse first time round, either way, best of luck!

[–] [email protected] 4 points 3 weeks ago

I'm sorry.

Congratulations! 🎉

[–] [email protected] 3 points 3 weeks ago

Congratulations! You'll be fine. I knew zilch when I bought my first house (total dump) and learned as I went.

[–] [email protected] 3 points 3 weeks ago

Amateur, I just find an empty one and squat.

Wait [X] years as defined by your state. Boom free housing*

*Terms and conditions apply

[–] [email protected] 3 points 3 weeks ago

grats.you have my well wishes and supreme jelousy.

[–] [email protected] 3 points 3 weeks ago

Hell yeah, good job! You should feel incredibly proud of yourself. You worked hard and made this happen.

[–] [email protected] 1 points 3 weeks ago (2 children)

Hell yeah, one of the smart ones. I hope you got a fixed rate mortgage.

[–] [email protected] 5 points 3 weeks ago (1 children)
[–] [email protected] 1 points 3 weeks ago

Fuckin' Smarrrrrrt. You'll be one of the ones who doesn't get fucked if the housing market crashes, because your interest rate won't balloon through the roof.

[–] [email protected] 4 points 3 weeks ago (7 children)

Not sure what this is implying. I personally know a few others (myself included) who have been working to get a house but stuck in the rent going up/cost of homes going up cycle. I feel (opinion) that most people would rather have a home instead of renting.

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[–] [email protected] 1 points 3 weeks ago

Stoked for you! Here is to hoping it'll not bite you with any failing parts in the near future so you'll have time to get used to how things work! We've only had ours for almost a year now and I've already replaced half the house. But we got a fixer upper. Lol

[–] [email protected] 1 points 3 weeks ago
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