I'm just saying don't go into it thinking "Oh, the payment is $700 a month! That's equal to/less than our current rent". Its never that low. There's always additional costs they don't tell you about and then the hidden costs of home ownership. I don't care how well fixed up the house is, you'll be spending several hundred dollars a month at Home Depot for at least the first 6 months, and then periodically thereafter. Just keep that in mind so you don't end up overextending yourself.I don't think I have to worry about it. I don't have to pay taxes for 10 years because I am a new home buyer
Also, if you're going to pay for this house with a gift from your parents or whomever, make sure you have the money in your account for at least 6 months prior to going for a mortage. I forgot the exact significance, but it has something to do with your overall financial stability in the eyes of lenders. They don't like to see a one time massive deposit right before you go to finance.
Just remember this : homeownership is a huge pain in the ass, but its totally worth it.