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.
+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.