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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!
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* for basic repairs, receptacle replacement, and the odd new branch. Know your limits.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!
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.
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.
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.
The home improvement book.
It's on Amazon used for super cheap. I just paid $2.99 + $4 ship for it
Thanks!!
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.
+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.
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