It's Official-Easjer and I Are Homeowners

[spurs_fan_in_exile]

After getting the rug yanked out from under us by the first seller, having to see the underwear of the worst real estate agent ever, and all the other crap that comes with house hunting, Liz and I have finally closed on a townhouse here in Houston. We're home owners now! WHOOOOOO! I imagine pictures will be coming in a day or two, but I just wanted to share the great news.

The joy of moving continues (and will probably continue well into next week), but when all it's said and done we have a place that we can call our own.

P.S.-Someone bookmark this thread so they can remind me that this is good news when I start a thread tomorrow talking about how I'm considering burning all of my worldly possessions instead of going through the hassle of packing them.

[Taco]

Congrats!!!

[travis2]

Does Liz know you have a thing about some real estate agent's underwear?

[2Blonde]

Congratulations. I hope you love Mac & Cheese, because that's about all you're going to be able to afford to eat for the first month after closing on the house. Between all the closing costs and utilities and new stuff you need for the home it can get pretty overwhelming, but it's all worth it. Pop a bottle of cheap champagne and enjoy it with the Mac & Cheese!!

[spurs_fan_in_exile]

Does Liz know you have a thing about some real estate agent's underwear?

She was there too! We went to check a couple out a couple of townhouses about six weeks ago. The guy showing them to us was absolutely terrible. He was ten minutes late, didn't know anything that we asked about, and then there was the underwear thing. For some reason, the guys pants didn't fit. It wasn't like he was insanely skinny or overweight, he was a fairly normal guy and for whatever his pants didn't fit and he wasn't wearing a belt. So when he turned around to lead us to the front door of the first property the guys pants fell down nearly to his knees. To his credit he caught them quick and didn't miss a beat, but by then the sale was blown. We were concerned about dealing with a guy who was ten minutes late on a Saturday morning, but when you see a guy's tidy whities within two minutes of first meeting them that kills the deal.

[CubanMustGo]

Congrats on your new house! I remember how excited I was when I got my first new place (and how terrifying those monthly payments were!)

[spurs_fan_in_exile]

Congratulations. I hope you love Mac & Cheese, because that's about all you're going to be able to afford to eat for the first month after closing on the house. Between all the closing costs and utilities and new stuff you need for the home it can get pretty overwhelming, but it's all worth it. Pop a bottle of cheap champagne and enjoy it with the Mac & Cheese!!

Who knows? Maybe we'll be able to turn that into the next diet craze. This really didn't feel all that overwhelming until I actually saw the mortgage terms on paper. When you see the words "through 2036" on a contract it's very sobering.

[angel_luv]

Awesome! I am so happy for you guys!

[MannyIsGod]

She was there too! We went to check a couple out a couple of townhouses about six weeks ago. The guy showing them to us was absolutely terrible. He was ten minutes late, didn't know anything that we asked about, and then there was the underwear thing. For some reason, the guys pants didn't fit. It wasn't like he was insanely skinny or overweight, he was a fairly normal guy and for whatever his pants didn't fit and he wasn't wearing a belt. So when he turned around to lead us to the front door of the first property the guys pants fell down nearly to his knees. To his credit he caught them quick and didn't miss a beat, but by then the sale was blown. We were concerned about dealing with a guy who was ten minutes late on a Saturday morning, but when you see a guy's tidy whities within two minutes of first meeting them that kills the deal.

Congrats on the home. I'm looking forward to buying a home in the (hopefully) not so distant future.

Now good luck getting Liz to stop watching "Trade Places" and the rest of the crap on TLC and Home and Garden. I having a feeling you'll be hearing about home improvements soon.

[angel_luv]

At least with a mortgage payments, you are actually earning a paid off house. My rent money takes care of me for a month and nothing more.

[spurs_fan_in_exile]

Congrats on the home. I'm looking forward to buying a home in the (hopefully) not so distant future.

Now good luck getting Liz to stop watching "Trade Places" and the rest of the crap on TLC and Home and Garden. I having a feeling you'll be hearing about home improvements soon.

She's ten steps ahead of you Manny. She's been watching that stuff for years and already knows exactly what she wants to with the new place. She's got a pretty good sense of style.

[spurs_fan_in_exile]

At least with a mortgage payments, you are actually earning a paid off house. My rent money takes care of me for a month and nothing more.

That was precisely our thinking. This whole thing kind of started on a lark back in the spring. We were trying to think ahead to what we'd do when the lease was up and started pricing new apartments. At the time Liz was looking for a new job as well, so we priced a few houses to see how much more she would need to be making to get a house instead and lo and behold when we crunched some numbers we found that maybe we could afford to buy after all. That was three or four months ago and it still feels like one big blur.

[tlongII]

Congrats! Mortgage payments are tough, but you'll appreciate writing off the interest expense at tax time.

[CubanMustGo]

Who knows? Maybe we'll be able to turn that into the next diet craze. This really didn't feel all that overwhelming until I actually saw the mortgage terms on paper. When you see the words "through 2036" on a contract it's very sobering.

I know it's hard, but if you can pay extra principal early in the note you can dramatically reduce the term of your mortgage. For example, on a $100K note at 7% only about $85 of your monthly payment goes against the principal. If you can make an extra P&I ayment ($665) a year that turns your 30 year note into less than 24 years. If you can swing an extra $100 per month, it becomes basically a 20-year note (20y 8 mos). And, of course, should you sell early you will get your added principal back at that time.

Bankrate will let you throw all sorts of scenarios like this around:

http://www.bankrate.com/brm/mortgage-calculator.asp

[Marklar MM]

Congrats...but you know this means you have to break it in with the big party. Sadly, I cannot venture to it.

[easjer]

I know it's hard, but if you can pay extra principal early in the note you can dramatically reduce the term of your mortgage. For example, on a $100K note at 7% only about $85 of your monthly payment goes against the principal. If you can make an extra P&I ayment ($665) a year that turns your 30 year note into less than 24 years. If you can swing an extra $100 per month, it becomes basically a 20-year note (20y 8 mos). And, of course, should you sell early you will get your added principal back at that time.

Bankrate will let you throw all sorts of scenarios like this around:

http://www.bankrate.com/brm/mortgage-calculator.asp

Thanks for the tip - we'll see what we can do. We are still trying to pay off other debt (student loans and credit card) and save some against having kids in the next couple of years, but that is a good idea. Maybe not in the next four months, but after that, it's a really good idea.

[easjer]

Congrats on the home. I'm looking forward to buying a home in the (hopefully) not so distant future.

Now good luck getting Liz to stop watching "Trade Places" and the rest of the crap on TLC and Home and Garden. I having a feeling you'll be hearing about home improvements soon.

I've already compiled quite the list . . . tiling the kitchen counter and retiling the floor are at the top. When nothing interesting was on, I used to flip it over to ESPN for awhile. Now it's HGTV. And I refuse to go out on Saturday nights, because TLC has the flipping and home improvment shows on.

Honestly, if the market could support it (and I had the financing) I'd flip houses for a living. I love this .

[JoeChalupa]

Congratulations!

[MoSpur]

Way to go. Congratulations!

[samikeyp]

Well done!

[Gatita]

Congrats!

Enjoy the taxes.

[easjer]

Congrats!

Enjoy the taxes.

Yeah.

It was amazing how great our P&I monthly payments were. Add in the remaining escrow payments and the HOA and that's when we got sad.

[Gatita]

Yeah.

It was amazing how great our P&I monthly payments were. Add in the remaining escrow payments and the HOA and that's when we got sad.

We were glad to get rid of the payment earlier this year, but are now in the hunt for another home. I can't stand apt. living.

[travis2]

Congratulations!

[ShoogarBear]

Congratulations!