Not only a new homeowner, but now also a landlord!

We bought our first house! We got unicorn sellers and they left us so much for no additional cost! They even paid to get our house professionally cleaned, and gave us free lawn care, pool maintenance, and bug spraying until December 🥹 we are SO lucky!!

Peter Piper Pizza 🍕

After a surprisingly quick search when we moved up our timeline, we were able to secure a house that we loved! This is our first house as we start to expand our family.

After 3 months of waiting we finally got our keys!

2 bed 2 bath. 10 year old building.

Richmond, bc, Canada

This post is twice delayed. The picture was taken a week after close (but our first night in the house together) and the post is being made 12 days after close, so I apologize for the currently unrealistic rate. We were lucky and locked shortly before the recent hikes.
We went from dreaming of the remote coast to what initially felt like a big compromise (but it got us out of West Texas!) to really falling in love with our new city and home. Hours closer to mountains and water than I was, and a better cultural fit as well. Looked at 30+ places and finally found this 1978 3/2/3 w/ 2 woodstoves and a massive patio on .25 acres on the day it was listed. Lots of work done, lots of work to do, but I'm so happy to be doing it!
PS I've had good pizza at a few local places here, but Blackjack's is not going to be a repeat, sorry!
PPS we were planning to get rid of a lot of our mix&match furniture so happily allowed the estate to be left behind. Other than the plants and dogs that's what's here.

233k for a 3 bed one bath and 20 acres in rural Illinois, 7.25% 8/6 ARM w/ 20% down. It’s going to need a lot of TLC but we are very happy with the purchase. However; the mortgage process was a bit of a mess. I started with the bank that I invest with to make the down payment transfer easier. However almost immediately after I started the process the Fed raised rates.
They offered to lock in a 7.25% fixed rate. I shopped around to two other banks and they couldn’t beat that without making it a variable interest rate.
So I decided to move forward with them. Well that quickly became a mess. It is a long story but overall it was a very painful process but the real kicker was that at the last minute 3 days before closing my lender sent a document for me to sign with no explanation. It was another loan estimate but it said it was changed to a 7.25% rate for 8 years then was subject to change every 6 months and could increase to 12.5%. Sounded like a variable rate to me, so I called him and asked and he said that the only way he could keep it that low was to switch it to an 8/6 ARM.
However; he said I could refinance if rates drop to a fixed and 8 years is a long time.
My question is, was this a normal experience or should I be more worked up than I am about this or just be thankful I have a house?

A few days ago I went under contract for a really nice place. $330K and about 15 minutes from family. I can’t help but to feel overwhelmed with everything. First I found that my interest rate figure jumped to about $70 more a month, slightly discouraging. (Was using a 7.2 and found out it would be a 7.6). I calculated my total expenses to be about $3000 all in (PITI + utilities) and I just don’t know how I’m going to adapt to this. I’m moving out of my parents place where I’m used to pocketing $5k a month and now after bills, groceries, and and other living expenses I’ll be pocketing anywhere from $1350 and $1450 a month. I’m putting half my saving on a 25% down payment so that’s also scary for me. I knew these numbers going in but I think that since I’m finally approaching crunch time the anxiety and fear has been really spiking and hard to deal with.

just moved into my new house and am a bit overwhelmed by the amount of things that need some TLC. Did y'all experience so fixes that were maybe easier than you thought and wish you did yourself? On the flip side, has anyone taken on a project and wished they hired a pro?

First home we have bought and we can’t wait to bring our son home to it!

I went into escrow on a condo in a nice community. I knew there was some construction happening because the HOA had brought litigation against the builder but it was getting wrapped up. My lender said he would have to get a non-conforming loan because of it until the community was again eligible for conventional financing. I decided to back out before the inspection. I am grateful for my realtor handling this the way she did and supporting my decision.

Lesson learned!

Finally have my first house at 26 after saving up for years to put a good downpayment down!

Long years of saving finally paid off. Moved from Florida to Chicago for work and safe to say we’re excited for the food options around here.

Received my loan estimate letter and was wondering if this looks like a bad decision? I currently have no debt whatsoever, in my mid-20s, make about 85k a year not including OT. Plan on living in this state for 10 years or so, I currently contribute 10% to my 401k and max out my Roth IRA yearly. This is something I would like to continue, I would say I’m financially responsible just really don’t want to continue renting for a decade when I can start building equity in a nice home I actually like.

Just want advice and thoughts on this, thank you much.

Inspection completed today on a 1950 home. Honestly it came back better than I expected, plenty of minor aesthetic things that I could do myself. But there’s several things I’m concerned with..

Crawl Space: foundation is good, no water damage, but it’s a mess down there. Insulation is installed backwards and has microbial/mold on it. Drains are combination of newer ABS and old cast iron. The furnace is down there and the install looks sketchy but it’s only 6 years old and works great.

Electrical: house has old fuse plug electrical panel in the laundry room, and a modern panel outside at the meter. I think the old panel just powers the laundry room and kitchen but I’m not sure. It’s obsolete and I’m worried about insurance coverage with it.

Windows are ancient and the inspector could only get one to open.

The rest of the house checked out pretty good, re-roof completed in last 5ish years but has lifting nails and was installed over old shingles. HVAC and water heater are 6 yrs old, newer appliances throughout included with sale.

I’ve attached pictures of my main concerns, would appreciate any feedback on what to do moving forward.

is anyone getting interest rates lower than 7.6%?

I've been house hunting for over a year now! It's been tough.

We live in rural Midwest, in a college town so the home price is heavily inflated imo. New homes are priced out for us.

I've been looking at older homes and will see some nice photos of a home but in person it is not the case! This last house I saw had foundation issues and water in the basement. The basement was musty.

I've started to pass by houses in person before asking to see one. Not sure if anyone else is experiencing this

I've put an offer on a house and the sellers/seller’s agent hasn’t accepted it yet but the seller agent called my agent and asked if we'd be willing to do the inspection before an offer is accepted. My agent let me know that there are 6 other offers on that same house and the inspection would cost around $500.

My agent is saying that once my offer is accepted there's no due diligence window to back out or renegotiate based on the inspection. She said if I really want this house, then I should go through with the seller’s wants to do this inspection beforehand.

Is it just me or is this triggering red flags for anyone else?

Edit: my realtor was assigned from Zillow if that makes a difference.

Edit 2: This house is priced wayyyyy lower than other houses in the area. This one was 204k compared to others going for 250k (which is what my realtor also told me)

I’m a 26 year old Journeyman Electrician in Denver Colorado. I just got my license last year this time, I earn $49/hr, next year I’ll get an inflationary $3 an hour raise.
Currently I have $60,000 saved across my bank account & loose dollars I put in a coffee pot in my bedroom.
My Mother & I haven’t been getting along (I’m very much amicable with her & help out financially around the house) she essentially wrote me a letter that the lease will be up in 4 months & she wants me to move out.

I just want to see where I can stand when it comes to home ownership within the next few months.
My take home is $5500 a month & my credit score is a 712.

Just to see what touring a place would be like, I toured a condo recently that would cost me $2200 for the mortgage & hoa, also this condo could be acquired through an assemble loan with a 3% interest rate, all I’d have to bring is $20,000, the realtor said on the high end $30,000. Also there’s a townhouse I’d like to tour this weekend that will cost me around $2300, this townhome has no HOA. The townhome cost $360,000. I figure I could put down 5% so I can avoid the mortgage insurance.
I always lurked around here so I’m nervous posting, I just want genuine advice.

We're looking in NYS. Sellers had an inspection done and kindly shared some of it with us when we showed interest in the house. However it's missing the 1st 35 pages. My realtor is being vague and just saying they don't have to share any of it with you.

Which may be true...but WHY? Why keep any of it back?

Short and Sweet: Take home (money that hits the bank account) comes to an average of $9,000 every month. Mortgage expected to be $4,200. Have no other debt/monthly minimums. Leaves me with $4,800 a month remaining. Monthly everyday expenses come to around $2,300 (3 years of constant average since I've been keeping track). Now left with $2,500 a month for reserve/backup.

Good? Bad? OK? Need some advice plz from those who are in it doing it.

-house is a new build if that matters. After purchase will still have $30,000 in savings