Seriously, the most important thing I’ve learned is this. If you don’t have the the right tools, call someone who does. The wrong tool will be ruined and ruin the work as well as your confidence.

Congratulations on the home.

Also, have someone who is extremely handy on the speed dial as well for advise. My Dad fits that bill for me – he’s really good as a former carpenter who still does some work in that arena (espicially when school is out in the summer).

Repair guys are often out to make several bucks, and they will sell you what they are compensated for selling as opposed to what is best for you. Get several quotes, do in-depth internet research on your own, and then ask your family what they’ve experienced. You NEVER know what will turn up.
For example, I had a water hose split in my furnace and was told it would be $20 for the hose and $50+ for the labor. After asking around I went to Lowe’s, got a section of quality garden hose for $3 and some clamps for $2, and fixed it myself. Again I had noise coming from my furnace and called out a repair guy. He said the bearings in the blower motor were shot. He quoted me several thousands for a new furnace or several hundreds for a repair. I spoke with my brother and found that he has repaired multiple furnace blowers (he’s a machinist by trade and specializes in building/repairing this sort of thing.) Got it done for under $100. He found a loose screw that was rattling around inside and making a racket to boot.

Home repair never ends. You will always have something to fix. It will never be at the most convenient moment. Pace yourself. Plan, plan, plan. Prioritize. Stick to the plan.
Yes, your refrigerator doesn’t match the dishwasher, and the driveway is an eyesore, but if the roof is leaking it takes priority. People go nuts and find themselves in such debt they’ll never get out. A little patience would have saved so much headache!

Try to pay the mortgage bi-monthly. One mortgage payment per month may be affordable, but you accrue more interest. Bi-monthly payments are easier on the bank account and they leave less time for interest to build. You save so much money in the long-term! Also, overpay the mortgage. Pay enough extra each month that you have paid one extra full payment per year. Do these two things and your 30 year mortgage will be a 20-25 year mortgage.

Actually look at ROI (return on investment). All new windows may save cash, but will they pay themselves off in the time you plan to live in the house? Prioritize the things that will pay off, like getting a programmable thermostat.

Oh, and CAREFULLY replace and test all outlets and switches (unless they are new – just test and look behind the new ones.) It’s easy and cheap and looks great. But most of all you never know what you’ll find. Better you find that old, burnt wire now before it catches anything on fire.

Things a novice could try w/o the help of someone who does know (don’t be afraid to try things…much is about common sense).
-painting
-drywall (it’ll take a couple trys to get it mostly right)
-refinishing floors (with a little reading)
-tiling
-non structural carpentry (trimwork, etc…)

Things to leave to the people who know…
-Electric
-Plumbing
-Gas
-HVAC
-structural carpentry

When you’re doing a project yourself, it’s ok to be ok with “it’s good enough”. Just make sure it’s right. If you want perfection, then pay someone to do it.

To save on your heating, look for drafts around windows and doors (see Draft-Dodger). Insulate your water heater in the winter months. Keep your heat 3 degrees below where you think it’s comfortable…you’ll get used to it, and you’ll save some dough.

Congrats on the home. Have fun.

http://jon.limedaley.com/plog/post/remember-remember-the-fifth-of-november

#1 Go to Lowes and see if the Dewalt tool bag is still on sale (if not then wait until it is again betwen now and mid-january) it normally sells for about $50 (the bag alone is worth 15-20) and contains a nice screw driver, a quick change driver set and several nice drill bits.
#2 Save up (or ask as a gift) for a corded hammer drill and a nice extension cord. The corded drill is MUCH more powerful than the cordless and living in town you will be able to get to anything you need to drill with a 25 of 50 foot extension cord (I like yellowjackets).

Finally, regarding your tweet about good worship songs for Thanksgiving Sunday, I humbly resubmitting “Your Hand Upon Me.”

As I think of more advice I will force you to listen to it at awkward and inconvenient times.