My wife and I just bought a house, I am scared...........

[aquaman]

It is scary to sign your life away for a house. Any advice? It's a great house, 5 wooded acres log cabin type of deal. Gotta soon go for the house inspection with the professional that may tell us something horrible. Luckily if he/she does, we have a condition in our contract that we can walk away and get our deposit back. Any advice on this process would be greatly appreciated.

[CanuckAmok]

1. I hope it has a sunken livingroom...

...because you're Aquaman. Get it?

Seriously, you can't go wrong with real estate. You're never 'signing your life away', because, with rare exceptions, you'll always make money or at least break even when you sell. I've never lost money in real estate, and I'm a terrible businessman!

[aquaman]

4. Don't worry, the property has a pond!!

[DemBones DemBones]

2. Sounds great to me! I remember when we bought our house, though,

so I know it's scary. As long as the payments are something you can handle, it'll be fine and you'll be glad you did it. When you buy, you're investing in your own property, after all. It's even greater when the mortgage is paid off!

Did that help? :7

[aquaman]

8. The payments

are reasonable thanks to the George W. economy. :hi:

[murielm99]

3. Buying a house is stressful.

I have only been through the process twice in my life, but I understand what you are going through.

Find a nice lawyer to help you if you are feeling unduly stressed.

I trusted my realtor the second time around -- she was a friend.

I don't think the inspector will tell you anything horrible. You will probably get through this, and enjoy your new home.

Let us know how it goes.

Good luck!

[aquaman]

6. Luckily,

The real estate agent is a friend of ours so that helps.

[The empressof all]

5. It is very, very scary but.....

I bought my first house in 1988 for 87,000. I could not really afford it but we did it. It's paid off now and worth about 300,000. We rent it out for 1200 a month.

Good things can happen when you buy a house. What you struggle to afford now will get easier as time goes on.

If you love the house and it feels like home just Trust that you will do well.

You can go bankrupt just as easy in a rental.

[aquaman]

7. We wanted the house the second we walked in........

and so,,,, we got it, the land is what got me. We live in Columbia, SC and are moving about 27 miles north. It took that far to find a house with land.

[ChoralScholar]

9. I feel your pain

We are going to buy a house soon as well. Congrats to you and yours.

Oh yeah, if the mortgage company starts holding payments until they're late, send them payments certified. Pisses 'em off. <advice from a friend's experience>

[leftyandproud]

10. advice...

go crazy...cut up all of your credit cards...kill all of your non-home high interest debt including car/student loans...Once you get out of those holes, go insane...sell all of the junk you don't need...don't finance anything...ever again...put 4-5 extra payments on your house every year...If you have a 30 year mortgage, this will help you pay it off in 15. If you have a 15 year mortgage, you can kill it in 8 years.

then the grass beneath your feet out back will be YOURS...and it will feel different.

:)

[lanparty]

11. I thought you were going to say ...

... that the furniture is moving all by themselves and your child is obsessed with television static.

[DBoon]

12. The stress has only begun!

Expect every working appliance to break within 3 weeks after escrow closes.

After living in the place a few weeks, you will figure out all sorts of "little" improvements. Dealing with financing and contractors is your next nightmare.

Don't worry, you'll do fine.

[Semi_subversive]

13. Congratulations

Enjoy! May it appreciate beyond your wildest dreams.

[mwdem]

14. Was the inspector referred to you by the Realtor?

Don't ever go with an inspector the Realtor suggests. Find your own.

[JohnnyRingo]

15. Profit...Loss...It doesn't matter

In the end...None of us "owns" more than the 54 cubic feet of Earth that we ultimately occupy.