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Blessing

ברוך אתה ה' אלהינו מלך העולם, שהחינו וקימנו, והגיענו לזמן הזה.

Blessed are You, L-rd our G‑d, King of the Universe, who has granted us life, sustained us and enabled us to reach this occasion

Translation: Blessing are you, the Lord our God, Sovereign of the universe, who has given us life, sustained us, and helped us to reach this moment.

העושה לולב לעצמו אומר: ברוך שהחיינו וקיימנו והגיענו לזמן הזה. נטלו לצאת בו אומר: ברוך אשר קדשנו במצותיו וצונו על נטילת לולב. ואף על פי שבירך עליו יום ראשון חוזר ומברך כל שבעה. העושה סוכה לעצמו אומר: ברוך שהחיינו וקיימנו כו'. נכנס לישב בה אומר: אשר קדשנו במצותיו וצונו לישב בסוכה. וכיון שבירך יום ראשון שוב אינו מברך.

He who makes a lulav for his own use says, “Blessed [are You, O Lord our God, King of the Universe] who has kept us in life, and has preserved us, and enabled us to reach this season.” When he takes it to fulfill his obligation, he says, “Blessed [are You, O Lord our God, King of the Universe] who hast sanctified us by His commandments, and commanded us concerning the taking of the lulav” And even though he has recited the blessing on the first day, he must again recite it on all seven days. He who makes a Sukkah for his own use says, “Blessed [are You, O Lord our God, King of the Universe] who has kept us in life, and sustained us etc.” When he enters the Sukkah to dwell in it he says, ‘. . . Who has sanctified us by His commandments and commanded us to dwell in the Sukkah.” And once he has recited the blessing on the first day, he does not bless again.

ת"ר העושה סוכה לעצמו אומר: ברוך שהחיינו כו'. נכנס לישב בה אומר: ברוך אשר קדשנו כו'. היתה עשויה ועומדת, אם יכול לחדש בה דבר מברך. אם לאו, לכשיכנס לישב בה מברך שתים. אמר רב אשי: חזינא ליה לרב כהנא דקאמר להו לכולהו אכסא דקדושא.

Our rabbis taught: He who makes a Sukkah for his own use recites the blessing, “Blessed are You. . . who has kept us in life” etc. When he enters it to dwell in it, he says, “Blessed are You . . . who has sanctified us” etc. If it was already made and standing: if he can make some renovation in it he blesses; and if not, when he enters it to dwell in it he recites both blessing. R. Ashi said: I saw that R. Kahana recited all of them over the cup of Kiddush.

העושה סוכה לעצמו מברך שהחיינו. צריך לפרש טעם מאי שנא דיש מצות שתקינו לברך שהחיינו ויש מצות שלא תקינו. בעשיית סוכה ולולב תקינו... ובעשיית ציצית ותפילין לא תקינו... ונראה דמצוה שיש עליה שמחה תקנו שהחיינו...

(ט) כל מצוה שהיא מזמן לזמן, כגון שופר וסוכה ולולב ומקרא מגילה ונר חנוכה. וכן כל מצוה ומצוה שהיא קניין לו, כגון ציצית ותפילין ומזוזה ומעקה. וכן מצוה שאינה תדירה ואינה מצוייה בכל עת שהרי היא דומה למצוה שהיא מזמן לזמן, כגון מילת בנו ופדיון הבן. מברך עליה בשעת עשייתה שהחיינו. ואם לא בירך על סוכה ולולב וכיוצא בהם שהחיינו בשעת עשייה, מברך עליהן שהחיינו בשעה שיצא ידי חובתו בהן וכן כל כיוצא בהן.

(9) Any [performance of positive] commandments that comes from time to time (i.e. during the calendar year), such as shofar, sukkah, lulav, reading of the megillah, lighting of Hannukah candles, as well as any [positive] commandment that involves personal acquisition, such as tzitzit, tefillin, mezuzah, installment of a railing, as well as a [positive] commandment that is not routine and is not available to perform at any time, as it is similar to a [positive] commandment that comes from time to time, such as the circumcision and redemption of one's son, a "shehechiyanu" blessing is said on the [positive] commandment at the time it is performed. And if one did not make the blessing on sukkah and lulav and the like at the time the commandment was performed, one may make the "shehechiyanu" blessing at the time that his obligation to perform the commandment is fulfilled and similarly for like cases.

(י) אחד העושה מצוה לעצמו ואחד העושה אותה לאחרים, מברך קודם עשייתה אשר קדשנו במצותיו וצונו לעשות אבל אינו מברך שהחיינו אלא על מצוה שעושה אותה לעצמו...

Whether a person performs a mitzvah for himself or for a colleague, before performing the mitzvah, he should recite the blessing "... who has sanctified us with Your commandments and commanded us...." He should, however, recite the blessing shehecheyanu only on mitzvot that he is performing for himself.

If a person is [intending to] fulfill several mitzvot, he should not recite the blessing "... who has sanctified us with Your commandments and commanded us to fulfill the mitzvot ---." Instead, he should recite a blessing over each mitzvah individually.

(ו) לֹא יְבָרֵךְ שֶׁהֶחֱיָנוּ בִּשְׁעַת עֲשִׂיַּת לוּלָב, אֶלָּא בִּשְׁעַת נְטִילָתוֹ.

One should not say the blessing of shehechiyanu at the time of assembling the lulav, but rather when they take it up [to shake it].

איתמר רב אמר: סוכה ואח"כ זמן. רבה בר בר חנה אמר: זמן ואחר כך סוכה. רב אמר: סוכה ואחר כך זמן- חיובא דיומא עדיף. רבה בר בר חנה אמר: זמן ואחר כך סוכה- תדיר ושאינו תדיר תדיר קודם.

It was stated, Rav said: [The blessing of] the Sukkah[comes first] and then that of the season. Rabbah b. Bar Hannah said: [The blessing of] the season [is first] and then that of the Sukkah. Rav ruled, [The blessing of] the Sukkah [comes first] and then that of the season, since the obligation of the day is more important. Rabbah b. Bar Hannah said: [The blessing of] the season [is first], since that which is frequent precedes that which is infrequent.

(ו) מִצְוָה מִן הַמֻּבְחָר לֶאֱגֹד לוּלָב וַהֲדַס וַעֲרָבָה וְלַעֲשׂוֹת שְׁלָשְׁתָּן אֲגֻדָּה אַחַת. וּכְשֶׁהוּא נוֹטְלָם לָצֵאת בָּהֶן מְבָרֵךְ תְּחִלָּה עַל נְטִילַת לוּלָב הוֹאִיל וְכֻלָּן סְמוּכִין לוֹ...:

The most desirable way of performing the mitzvah is to bind the lulav, myrtle, and willow together, thus making a single, unified entity from the three of them.

Before one takes them to perform the mitzvah, he should recite the blessing on the mitzvah of taking the lulav, for all the others are dependent upon it.

(ה) יְבָרֵךְ עַל נְטִילַת לוּלָב, וְשֶׁהֶחֱיָנוּ, קֹדֶם שֶׁיִּטֹּל הָאֶתְרוֹג, כְּדֵי שֶׁיְּבָרֵךְ עוֹבֵר לַעֲשִׂיָּתוֹ; אוֹ יַהֲפֹךְ הָאֶתְרוֹג עַד שֶׁיְּבָרֵךְ. הַגָּה: וִיבָרֵךְ מְעֻמָּד (מַהֲרִי''ל וְכָל בּוֹ). וְלֹא יְבָרֵךְ רַק פַּעַם אַחַת בַּיּוֹם, אַף עַל פִּי שֶׁנוֹטְלוֹ כַּמָּה פְּעָמִים (מהרי''ו).

One says the blessing over the lulav, then shehechiyanu, before they take up the etrog, in order that the blessing can lead into the doing. Or, they flip the etrog until it's blessed. Gloss: One should say the blessing every time they pick up the lulav.

Today, the prevailing reason for which things shehechiyanu is said on are things which cause us joy. This is broken down into three main categories: acquisitions, Jewish Festivals, and new fruits. One point to note is that you would say ha’tov v’ha’meitiv (God is good to me and to others) instead of she’hecheyanu when two or more people benefit from or enjoy something.
Holidays:You MUST say she’hecheyanu on Jewish festivals.
Say she’hecheyanu when lighting candles for:
Both days of Rosh Hashana, Yom Kippur, First day (if in Eretz Yisrael) or first two days of Sukkot, Shmini Atzeret and Simchat Torah, First day (if in Eretz Yisrael) or both days of Shavuot, and First day (if in Eretz Yisrael) or first two days of Passover.
You would also say it over some mitzvot, such as the first lighting the Chanukah candles, reading the Megillah on Purim, and taking the lulav and etrog on Sukkot
Acquisitions: Saying she’hecheyanu on acquisitions is subjective and is only required if you enjoy the possession and it is new (for you) and valuable. Say she’hecheyanu on any item that you acquire through any of the following means, as long as the item gives you pleasure: 1) Gifts 2) Purchases you made 3) Used items that you acquire. The only items of attire that get a shehecheyanu blessing are those that are worn for enjoyment or importance.
Say she’hecheyanu on a house, condominium, apartment, or other accommodation that you buy. Don’t say she’hecheyanu on a house or apartment that you are renting.
Note: If you are married (or living there with any other family members), say ha’tov v’ha’meitiv instead of she’hecheyanu.
You may say she’hecheyanu as long as you still feel the exhilaration of having or using the new item (ideally, say the blessing when you purchase the item or receive it as a gift.). If you buy a house, condominium, apartment, or other accommodation, say she’hecheyanu: When you buy it, if it is ready to move in when you buy it (if you will live there by yourself).When you move in, if it is not ready to move in when you buy it (if you will live there by yourself).
Fruits: Steps for saying she’hecheyanu on a new fruit: 1) Say borei pri ha’eitz first, then 2) Say she’hecheyanu, then 3) Eat it.
Say she’hecheyanu when eating a fresh (not dried or frozen) fruit for the first time it appears in the market that season (this does not follow Rosh Hashana or any of the other Jewish “years”). Note: If a fruit is available year round, never say she’hecheyanu over it.
You have a fruit on which you would like to say she’hecheyanu, but you might not like it. What To Do: To avoid saying a pointless blessing (bracha l’vatala), you may:
1) Say the blessing borei pri ha’eitz on a different fruit. 2) Eat from the fruit you just blessed over. 3) Taste the new fruit. If you like it—and before you have eaten all of the new fruit— Swallow the small piece you tasted (if you do not like it, you do not need to swallow it). 4) Say she’hecheyanu. 5) Eat rest.
Source: OU (https://www.ou.org/torah/halacha/halacha-lmaaseh/shehecheyanu/)
On Seeing a friend -
  1. If one saw a friend for the first time in at least 30 days then one should say Shehecheyanu. This applies even if one has received a letter from the friend.
  2. If one saw a friend for the first time in at least 12 months then one should say a beracha of Mechaye Metim instead of Shehecheyanu, but if one had received a letter or heard about how the friend is doing then only Shehecheyanu should be said
All in all, the practice of saying Shehecheyanu is one of being mindful for the joyous things that happen in life. We pause in those moments of delight to give praise to the Holy One who brought us to this moment, and allowed us to celebrate it in joy.