It’s done. We closed on our home this past Friday. We are now officially home owners!
I can’t believe it’s complete. It was only a few months ago that we started looking for a house. We fully expected to be moving into a new home in the Fall but here we are with the keys to a new place. When we sold our co-op last year the process took so long; perhaps about six months total. I kidded with my wife – “Watch, we’ll end up buying a home lightning quick!” I didn’t think that would actually happen!
It’s a surreal process, closing. You sit at a table with the sellers, a few lawyers, and a notary. It’s a whirlwind of papers going back and forth, getting copied and faxed. A little more than an hour later, and LOTS of signing and initialing, and you have the keys to the place you will call home for possibly the rest of your life. We’ve also never spent so much money and gotten into so much debt so quickly!
We can’t wait to move in. The feeling is like getting a new toy as a kid and being told to put it on the shelf for a week. You look at it, knowing it’s yours, wanting to play with it. But first we need to pack up our stuff and take care of a few things around the house.
We found a wonderful four bedroom home in a great neighborhood with an excellent school system. The house is just about in move-in condition. The kids will finally have some room to run around with both a back deck and a front yard. There’s also a finished basement. I’m excited to have a small space to call an office rather than a spot at the end of the dining table.
We’re excited to get to really know the neighborhood and meet the neighbors and get the kids acclimated to the new area. That said, our two oldest have expressed some anxiety about moving. The middle guy (three) doesn’t want to move his toys. I’m not sure he completely understands that we’re taking everything with us. Out oldest (ten) just finished up the school year and is sad that she’ll have to make new friends. It’s understandable. A nice thing about moving the beginning of Summer is she has a couple of months to make friends before going back to school.
This place is a dream for us. A couple of years ago we couldn’t have imagined getting a house like this. Yeah, if it weren’t for the financial meltdown, house prices may have been out of our reach. Fortunately we closed before June 30th so we don’t have to worry about the first time home buyer tax credit being extended or not.
The impending expenses are a bit scary. I’ve mentioned the costs in owning a home before but here are a few things we’ll have to pay for now: alarm system, home insurance, town/village/school taxes, possibly a gardener, locksmith, etc… Oh yeah, also the mortgage! We can handle it but there will be some adjustments. Our vacations will be on hold for a bit for sure (honestly, with three kids we weren’t running off anywhere exotic anyway). The sacrifices will be well worth it.
It’s all still sinking in. It feels like I met my wife yesterday yet here we are with three children, ready to move into our new home. Wish us luck! We’re starting a whole new chapter of our lives!
{ 29 comments… read them below or add one }
Congratulations! I am reliving the excitement from buying our first home as we speak. I am so happy for you, you will absolutely love it. Watching your kids create memories in your new home that is all yours is just fantastic.
This past weekend we drove by both our previous homes. We discussed how we never thought we would have enough to move into a ‘colonial’, and then one day we accomplished that. There is so much pride in home ownership, and it is great that you were able to get a good deal. I envy those buying a home for the first time now since the deals are so much better than they were.
Enjoy!!!!!
Thank you. Yes, if you are patient you can find a great deal now. Great to hear you are in a nice home that you dreamed about.
Hey craig,
Congrats on buying the new house! It sounds like it was quite the process and you seem to be quite happy with your new purchase. It seems like you got a good deal, and the way rates are, I’m assuming you got a killer loan rate too (a friend just got a 4.5% 30 year mortgage!)
Enjoy the house.
Thanks. We got a great rate but not 4.5%. That would have been really nice.
Congrats Craig! Welcome to “The Island”
Haha, when you write it in quotes like that I imagine LI being something out of a Michael Bay movie!
Congrats on the new digs!
Thank you!
Congratulations!!! I haven’t gone through the process yet, but I watched my sister’s house buying process and it looks kind of painful. Finding something that fits your aesthetic and practical preferences can be really difficult. Furthermore, you have to realize going in that this house could be the place you live until retirement. Buying a house is a serious commitment! But it sounds like you picked a pretty good place thats going to fit you for many years to come!
Yes, it can be a painful process. But with some patience and a good team of people to work with you can minimize some of the craziness.
Wow, what great news! I’ve very happy for you! Plus, you’ll get to enjoy the house this summer!
Your part about the closing part being surreal, took me back 10 years ago when we closed on our house. What a crazy process!!! I think my mind went numb with information overload during that hour…
As for the vacation, I bet your new house will feel like a vacation in itself (or at least it did with me when we moved into our house).
I’m truly excited for you!
Congratulations!!!
Thanks! Yeah, they give you 30 years of responsibility in under two hours.
LOL, that a clever way of looking at it!
Sounds like this new home will be a wonderful place for your family to grow. I can’t wait for the day that I become a home owner myself, but I’m still working my way through my student loans! It sounds like everything worked out quite well for you. Enjoy your new home! Congrats
We will enjoy it, thanks! Ughh, we still have some student loans to payoff as well.
Good luck! Were you a renter before? If not, how much more is this new home in terms of percentage increase?
Cheers, Sam
We owned a co-op and then rented. The home will be costing us more, especially the first few years, but we can manage and it is more than worth it.
Congrats Craig! Owning your own home is great, just watch out for all those expenses!
Tell me about it! They are already piling up. But it was somewhat expected.
Congrats man, that is such exciting news. Enjoy, especially over the holiday weekend.
We have been, thank you.
Congrats! Moving is always a weird mix of excitement and stress – but it sounds like you’re moving into a great situation so hopefully the stress will be at a minimum!
Ha! Yeah, it’s been a bit stressful. It seems everything has been happening at the same time for us. For example, both our cars needed oil changes when we moved.
Congratulations! All of your hard work in saving has really paid off! Enjoy your new home.
Thank you, we will. The savings will continue.
Congrats FFB!!
That is so exciting =)
Thank you. It is exciting!
Congrats FFB!
I wouldn’t worry too much… you do your homework, and it seems like you bought the house for the right reasons- i.e. to put down roots for your family, and not to “flip” as a “get rich quick” plan!
Thank Joe.
Please, I can’t even imagine having to pack up and move again! We would really have to be paid a LOT to do that again. No, we’ll be living here for a good long time.
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