First Time Home Buying: {The Crash Course}

As recent first-time home buyers, there were many things we wish we had known before starting our house search. And as much as we wish there had been a required Home Buying 101 course in college, we got through the process with some valuable lessons for years down the road when house number two shows up on the horizon.

So here are a few words of wisdom for anyone who is approaching the home-buying phase of life.

1. No Credit is Bad Credit

• As much as I hate debt of any kind, you will have major trouble getting a home loan unless you have some type of credit history. My husband has always been extremely good with money and has avoided debt and credit cards altogether (Dave Ramsey would be so proud!). Not inheriting debt on our wedding day was an added bonus, but it turned out to also be a thorn in our side when we started applying jointly for home loans. If you are looking to buy a house and have never had an open line of credit before, consider getting a credit card so that you will have some type of credit history when you start the loan application process.

2. A Good Mortgage Banker

• Having gone through Dave Ramsey's Financial Peace Course, we knew most of the basic home-buying lingo. "Adjustable-rate mortgage, fixed-rate mortgage, etc." And we thought we were doing pretty good. But boy were we wrong! There are more loan options out there than hairs on my head. I really think we would have just thrown in the towel if it wasn't for our amazing Mortgage Banker (if anyone wants a recommendation, just ask!). She knew that we were new to the process and answered all of our seemingly stupid questions in ways that we could understand. She got us a great interest rate and went to bat for us several times to keep it when rates went up. Basically, she was a life-saver and we couldn't have gone through the process without her help. Ask friends and family for recommendations before you start the process and it will be one of the best decisions you'll make!

3. A Good Real Estate Agent

• For as long as I can remember, I always thought a real estate agent was just the one who let you into the houses so you could look at them. Wrong again! We got lucky and had an agent who had been in the business for years. She knew all the neighborhoods, school districts and areas to watch out for. She showed us how to look for water damage, foundation problems and roof problems. It's my first instinct to just wander through a house and admire the floor plan, pretty cabinets and wood floors, but apparently there are many other things to be on the look out for. It may not be as fun as my way of looking at houses, but it sure saved us from some lemons. When the time came to negotiate on things like price and additional repairs, our agent turned into our personal assistant. She handled all the negotiations for us and made sure all the loose ends were taken care of. As much as I hate real estate fees and trying to find a good agent, it is 100% worth your time. 

4. Base Your Budget on You, Not Them

• If you want to know how the housing market went bust, just go apply for a loan. If you calculate what monthly payments you can safely afford, I guarantee you'll be approved for a house that will absolutely max out your monthly income. DON'T FALL FOR IT! Know your monthly income and base your total home loan amount on what you need your monthly payments to be. Sure, you can get approved for more, but that's how people overextend themselves and forget about all the other monthly expenses. Banks make more money if you borrow more money, so it's no surprise that many people take the bait (after all, who wouldn't want a bigger house?!). Sticking to your budget will free up enough monthly income to let you continue to live your life and enjoy it. Moral of this story: own your house, don't let your house own you.  

Our House, Our Home

Most of you know that Seth and I recently (three-ish weeks ago) bought our first house. We knew when we got married that we didn't want to rent for more than a year if possible, thanks to some good advice from Dave Ramsey. So we started saving as soon as we got married and prayed that we would find the right house when the time came along.

About 7 months into our lease we decided that we should start the house hunt. Since we were first time home buyers, it was all rainbows and butterflies at first. Looking at houses was FUN and something we filled all of our free time with. My grandma works in real estate and recommended a phenomenal agent for us who saved our lives multiple times throughout the process. She took us to look at houses several times a week and was probably about ready to block our numbers by the time we finally found the one.

By July, we had it narrowed down to 2 houses. And we were very much over the house hunting process (trust me, it loses its luster more quickly than you think). We had looked at them a couple times and gone over and over all the details on a daily basis. Basically, we couldn't decide. I was about ready to throw in the towel when one more house popped up on our listings. It was a modest, three bedroom that looked at least slightly promising. So I called our agent that night and she showed it to me the next day.

Seth couldn't get off work so I sent him a virtual tour as we went through the house (isn't technology great?). When I got home, I asked Seth what he thought. Then, out of the blue, without having even seen it, he said, "I think we should get it." I was shocked to say the least. After asking "Are you sure?" about twenty times, we called our agent and made an offer. They made a counter offer and we made several negotiations along the way, but overall things went smoothly.

Finally, after months of searching, we closed on our very first home on Monday, August 6th, 2013.

 It's nothing fancy, but it's full of fun potential. And most importantly, it's now where we call home :)


The kitchen/breakfast nook with a wonderful brick arch over the stove:

The living room (with previous owner's old couch) and formal dining room:

The master bathroom with its weird tile floor and open vanity bathroom (toilet/shower to the left, closet to the right):

Two guest rooms and the guest bathroom:

Stay tuned for a plethora of DIY home improvement blogs from two clueless new homeowners!

Living on Tulsa Time

We have been living in Tulsa for almost 6 months now (crazy!) and I am finally starting to feel like this is home. And for someone who has lived in Norman her entire life, that's a big step. We are part of a church and community group that we love, we have regular games of spades with the in-laws (I know, we're nerds) and we are starting to find new places to hang out and socialize in Tulsa. Daisy even made a whole new group of friends on our first trip to the dog park today. It was a proud dog mom moment!

As most of you know from my Facebook post, I also landed my first big girl job this past week! On March 18, I'll be rejoining the OU family as the Associate Director of Recruitment for NE Oklahoma. I'll be teaming up with the awesome people from Prospective Student Services and bringing the OU experience to all the high school kids in my area. Talk about a fun job! It combines the marketing aspect of my degree with talking about my favorite university. What could be better?!

The other great thing about this job is that Seth and I will now be able to buy a house this year! If you've gone through Dave Ramsey's course, you know renting is a drain on your income that you can never get back (although it is necessary sometimes). Thankfully we will soon be able to plug that drain and finally have a place to call our own.

Like any overeager, first-time home buyers, we have been prowling the Internet listings of homes for sale in the Tulsa area. At this stage in the process, house hunting is pure fun. We ooh and aah over all the new floors and kitchen cabinets and imagine what it would be like to live in the $3MM mansion we found on Craigslist. Soon enough we will have to start the not-so-fun part of loan approval, inspections and all the things we are currently pretending don't exist. But until then, it's happy hunting and happy times for these Tulsans!