-
Be sure to read this post! Beware of scammers. https://www.indianagunowners.com/threads/classifieds-new-online-payment-guidelines-rules-paypal-venmo-zelle-etc.511734/
Just bought my first house
- Thread starter jojoa55
- Start date
The #1 community for Gun Owners in Indiana
Member Benefits:
Fewer Ads! Discuss all aspects of firearm ownership Discuss anti-gun legislation Buy, sell, and trade in the classified section Chat with Local gun shops, ranges, trainers & other businesses Discover free outdoor shooting areas View up to date on firearm-related events Share photos & video with other members ...and so much more!
Member Benefits:
E5RANGER375
Shooter
also dont forget to pay the kings taxes. congrats!! hope you took advantage of the great deals on the market. We are currently looking to get into a bigger property with some land. No better feeling than knowing something is yours.
First of all, congratulations, I remember building our first home over ten years ago.
My main advice for being new to homeowning.... change the furnace filter EVERY MONTH.
I think it turned out pretty well in my favor. The seller was really motivated to sell since they already had another home purchased in Texas. Got it for roughly 5-6,000 under market value, plus the seller is fixing everything that was asked for after inspection, and paying 2,000 in closing costs.
E5RANGER375
Shooter
+1 GREAT ADVICE!!!!
change the locks on all the outside doors.
save some money for when the furnace craps out or the ac craps out so you can have it fixed asap.
assume that the place isnt perfect and that no matter what you do you will find something so crazy it only blows your mind.
(good example is when i bought my house. changed all the outside doors. well the last one was the hardest. i fell thru the floor
needless to say a simple door changing became replacing the sill, subfloor, jacking the house up a little bit, hanging the new door, fix drywall, and replace the floor that was now damaged.
but you will be thankfull everynight even with these problems you dont have someone with 4 kids jumping above your bedroom at night!
save some money for when the furnace craps out or the ac craps out so you can have it fixed asap.
assume that the place isnt perfect and that no matter what you do you will find something so crazy it only blows your mind.
(good example is when i bought my house. changed all the outside doors. well the last one was the hardest. i fell thru the floor
needless to say a simple door changing became replacing the sill, subfloor, jacking the house up a little bit, hanging the new door, fix drywall, and replace the floor that was now damaged.but you will be thankfull everynight even with these problems you dont have someone with 4 kids jumping above your bedroom at night!
Pretty much 100% guaranteed no. Except if you don't buy it.
Welcome to the ranks of the landed (and taxed) gentry!
I bought the insurance, and within six months a 7yr old water heater went out. Could of been something more expensive, you never know.
My tips would be to check and repair any problems with your roof, windows and foundation as they can be overlooked and cause serious damage if left leaking.
Also make sure you file for your homestead tax credit.
Kirk Freeman
Grandmaster
1. Keep the water out. This is a priority.
2. Take one room/area a year and re-model it.
3. Kitchens and bathrooms are good to re-model, everything else will not bring you a return on the investment and is an expense.
4. Pay extra on the mortgage every month, even if $100. Over time it will help.
5. I use Medeco locks with Polaris steel doors. Shattergard on my windows.
6. Painting the outside is a cheap re-model and really does help curb appeal.
7. Live uptight and out-of-sight.
8. Domestic bliss is key. Know your neighbors, a bottle of wine at Christmas is a worthy investment.
2. Take one room/area a year and re-model it.
3. Kitchens and bathrooms are good to re-model, everything else will not bring you a return on the investment and is an expense.
4. Pay extra on the mortgage every month, even if $100. Over time it will help.
5. I use Medeco locks with Polaris steel doors. Shattergard on my windows.
6. Painting the outside is a cheap re-model and really does help curb appeal.
7. Live uptight and out-of-sight.
8. Domestic bliss is key. Know your neighbors, a bottle of wine at Christmas is a worthy investment.
All great advice!!!
If you have a basement, get a decent sized dehumidifier. Your firearms (among other things) will thank you for it.
If you discover that you have hillbillies living port, starboard or aft side of you, nip it in the bud.
And lastly, have a small party over labor day weekend. Not a blowout, mind you. Just a cookout with close pals and wave a few neighbors over if they seem interested.
If you discover that you have hillbillies living port, starboard or aft side of you, nip it in the bud.
And lastly, have a small party over labor day weekend. Not a blowout, mind you. Just a cookout with close pals and wave a few neighbors over if they seem interested.
You mean the home warranty? No. Not in my mind. You're limited to the contractors of their choice and you have to call the warranty company number FIRST or they will not cover it. Most of the repairs are easily fixed by the homeowner willing to learn and/or get a little dirty. And for those that aren't, you don't want to be limited by a third party's choice of who does the work.
If you meant homeowner's insurance, hell yes. If you don't pay it and you mortgaged the property, the lender/noteholder WILL buy it for you, pass that cost to you, and it won't be cheap. Even if you don't have it mortgaged, do you really want to watch it burn down one night knowing you have no way of replacing that financial investment?
My suggestions: become extremely familiar with basic home repair. Leaking faucets, bad toilet seals, even window and siding replacement is easily done by the homeowner. Don't forget the regular maintenance items that are often overlooked: cleaning the gutters, caulking windows (if necessary), flushing the water heater, etc.
Consider adding insulation to the attic space.
Room re-models are pointless if you pay someone else to do them (at least from a ROI point of view) IMO.
When you do need to hire a professional, I've found that the independent self-employed guys are the best. So ask around for recommendations NOW so you won't have to waste time trying to find someone when the emergency or big job happens.
Pay extra each month to help pay down the principal. Here's an easy way to get an extra payment in each year. Divide your monthly payment by 12 and add that amount to each month's payment. Of course, if you can afford more, do it. Word of warning, however: check your loan docs to verify that any overage actually gets applied to the principal. I have seen cases where the overage was held in a separate account and if the borrower did not inform the noteholder in writing about how those extra funds were to be disbursed, the noteholder would absorb those funds at some point in time. So be absolutely sure that your terms allow for extra to be applied directly to the principal automatically.
The loan docs are a great cure for insomnia too.
oh... something else.
dont be affraid of changing a plug or a switch or even a circuit breaker.
i knew how to change switches and plugs before i bought my house, but i have never done a circuit breaker. i you-tubed it and watched about 3 or 4 videos. when they all showed/said the same thing i was confident enough to change my bad one... not sure how much i saved but im sure it was alot!
dont be affraid of changing a plug or a switch or even a circuit breaker.
i knew how to change switches and plugs before i bought my house, but i have never done a circuit breaker. i you-tubed it and watched about 3 or 4 videos. when they all showed/said the same thing i was confident enough to change my bad one... not sure how much i saved but im sure it was alot!
one big piece of advise i have for you is pay as much over your payment as you can for the first year. if you pay 4 complete extra payments in your first year of a standard 30 year note you will cut 7 years off the life of your loan. atleast that was the case a few years ago, it may not cut off 7 years with the lower interest rates we have now but it will shock you how uch it will cut off.
On my home, the seller bought this, and it saved us some serious cash. Yea, we had to pay the "deductible" of $100 and pay the installer for some sheet metal work, but it ended up saving us around $1,000. If you have to pay for it, your decision should be based upon how old your home is, what has been replaced, etc.
BTW, congrats on your new home. There are plenty of things you can do by yourself and save some cash. You may not be the most efficient at said task, but the experience and the savings will make up for it. I agree with some people that posted before me, you should set up a "fund" for emergencies (a/c, heat, etc. going out). It will give you peace of mind knowing you can get it fixed with cash.
If you are planning on painting the interior, spend the extra dollars and paint the ceiling. It makes a huge difference. You wouldn't think so, but it really does.
Welcome to the world of home ownership.
