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I have Equity! AND...New Homeowner Chat!

New Contributor

Re: I have Equity! AND...New Homeowner Chat!

A home across the street from us, sold for almost 60,000k more than purchase price after living in it for just 6 months. So thats always a good thing, energy bill is actually less than what we had thought. 

Lender Pull EQ 745 EX 734 TU 722
Message 11 of 14
Valued Contributor

Re: I have Equity! AND...New Homeowner Chat!

Actually, I went in to appeal the tax thing in March and they lowered them...not to the original levels, but it did go down ~$50/mo. 


And would it surprise you if I told you that my $300 peak gas/electric bill is to heat a 2200 sq ft Victorian in Michigan?


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around

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Message 12 of 14
Established Contributor

Re: I have Equity! AND...New Homeowner Chat!

I closed 10/25/12, so we are finally settling into something of a groove. I am quite grateful for 0% interest offers as I've really racked up some expenses with appliances, window treatments, a fence and now turning the whole backyard into an "oasis" (I hate mowing the green weeds that pass for grass we have here in FL). We are doing the work all ourselves, so plenty of "sweat equity" and it's turning out beautifully. We also put in some raised garden beds to grow some fruits/veggies as well as some citrus trees, so I added an upright freezer to my laundry room in hopes of filling it with "free" produce.  The landscaping that came with the house was a bit of a joke, so we have a bit of work to do out front, too.


We have been delighted with our appliances, now that we have things that are QUIET and energy effiicient. We can run the dishwasher and watch TV at the same time. 


I have a little equity, but my sale price for the construction was pretty close to the appraisal, so I'd guess I have about $7K as prices are steady around me.


Utilities are still an unknown sorta, since we haven't hit the peak of summer.  My electric bills in my rental were $300/mo (averaged), but in my new house have been $150, so that's been a pleasant respite.  I had all the energy upgrades done, though, so they'd better pay off!  Like I said, though, summer is coming and I'm sure the bill will go up.


My kids and I still walk around in awe and say "I love HOME" periodically.  I find myself in disbelief, even after 6 months of mortgage payments! It was a long, hard road, but SO worth it in the end.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Message 13 of 14
Frequent Contributor

Re: I have Equity! AND...New Homeowner Chat!

Nice to see that some of those who've closed are still visiting the board and sharing their experiences. It's always disappointing to see folks go AWOL after they close...The home search and mortgage process has changed so much in the last few years, and many who are currently searching and waiting to close could benefit from the knowledge gained by people who've been there. 


Anyway, kudos to you both for hanging around! 

Message 14 of 14