Sike, mine’s a little smaller
I have not posted in a while, but this is a pretty major event in my life. You only get one first house, much like you only get one first car or first high school sweetheart.
I am not trying to time the market; I really just need a place to live. I had been renting for a while and was a little tired of moving every 6-12 months, parking outside, and being at the mercy of landlords. So I found a house that I liked, was priced well for the area and made an offer. The owner of course countered, I agreed to the counter with a few small changes, and we have a contract to purchase.
The house itself is smaller, and not the prettiest or largest on the block; which is usually a good thing. It has three bedrooms, a garage to tinker in, and a full basement that I will convert into a man-cave as soon as I can afford it.
Speaking of affording it this is a huge change for me. I was sitting on a huge pile of cash (for me) and I now have to spend practically all of it on the down payment and closing costs. So overnight I went from a huge cushion to practically none. This is definitely an adjustment in thinking and in living. Good thing the government is giving me $8,000 to purchase this home; hopefully I will be able to claim it on my 2008 taxes.
More to come later.
Congratulations, homeowner!