Home Buyer Mistakes to Avoid

Activasion.Palac

I finally have savings!! I have 3 savings accounts so that I can save for different things. Save for emergencies, buying a house, and special project.

Buying a home is challenging, especially if you're not paying in cash or avoiding a government loan. Even with just the minimum monthly payments on a 30-year mortgage, I’ll end up paying more than twice the value of my home. I was fortunate to buy before the market went wild, so I secured a good interest rate. I can't imagine trying to rent or buy in the current conditions.

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

Thank you so much!!!

Thank you so much for this, I remember first hearing your advice on yt 3 years ago when I was making $16/hr while in school. I knew I wanted to own a home one day (to not be like my parents who rented my whole life and had no assets at the end).

I'm now making around 90k/yr and I hear you with what you're saying about being "home poor". I'd probably land close to that example you gave of what you could afford based off of gross income. In my state, you only net about 69% of your gross income & I'm also saving for emergency fund (HYSA) + retirement.

It still feels completely impossible to own a home with what I'm approved for (monthly based on gross) and without having a 85k downpayment. Any advice?

My family and I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

I've been looking for houses with a realtor for well over a year. One of the tough parts for me living in SLC, UT is that the homes that I actually like are just out of my price range. Along with that, I have no timeline. I'm renting an apartment so I can continue to stay here while I look.

Do you think the housing market will crash?

Activasion.home.pallas.solar.2024.data.18.agust

Great video this makes so much sense i would say don’t get emotional while buying house that’s where everyone mess up

DO NOT DO IT. DO NOT BUY THAT HOUSE.

You're buying:

Grass seeds
Security systems
Plumbing service
Paint
Furniture
Rugs
Flooring
Lawnmowers
Windows
Locks
Washers/Dryers
Doors
Roofing
Driveway repairs
Sinks/faucets
Shower heads/
Tubs/ Jacuzzis
Mirrors/
Landscaping services/
Attic insulation/
Wood Floors/
Snowblowers/
Lighting of all kinds/
Toilets/
Cabinets/
Waterproofing/
Hot water heaters/
Furnaces/
Roofing/
Additions/
Pool tables/
Swimming Pools/
Septic Systems/
This is why they bully Americans into buying a home. Something is always breaking down, something is always needing repairs, something is always needing replacing. Home ownership is NOT ABOUT WEALTH AND EQUITY, it's about keeping you reaching into your pockets everyday for years and years. Americans are easily the most brainwashed ppl on Earth, they use religions and traditions to keep you funding this corrupt capitalist system. See, when u rent, you get off easy, the liabilities and responsibilities are on the landlord, not you, you don't spend the rest of your life shopping Home Depot, you don't have to haggle with insurance companies over leaky roofs. I can already hear the little cry babies now saying, " but rents go upppp! Guess what, tell me what DOES NOT IN THIS COUNTRY, gas goes up, foods go up, movie tickets go up, liquor goes up, amusement park prices goes up, medications goes up, but you won't gripe about that will ya, hell no you won't, you know why, because you're all little wussy sheep, you're only good at doing what you're told to do. Indoctrinationed mindsets obeying the matrix systems and being loyal to the masters that keep you locked up economic prisons. I'am not a responsible American if I don't get married but a home and have children, the biggest bullshit mind game ever ran on humans to keep them as food sources for greedy corporations. And u sorry bastards fall for it everyday. When ppl say renting is a waste, I just wanna piss in their faces, another sheep programmed to enjoy the miserable life the establishment set them up for.

Is there a different between pre qualifying and pre approval?

What about buying for Airbnb?

Holy fuck my generation is fucked

I bought a house in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.

Hi, I’m looking into buying a house, first time home buyer. I wanted to know if I have to pay my realtor the commission and what percentage do I pay him/her.
Or the seller pays my realtor the commission .

Thanks from land down under…

The best way to never buy a house is over analyze everything and talk yourself out of it over and over and over… just do it. There will never be a perfect set of circumstances.

You and I should become referral partners. You get savings!

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>

Vrau.bani mej.ches. 990.billion./£/DATA 15.mar.2023

The biggest surprise I got is finding out how much in interest that you end up paying on the loan. At 6.5% with a 30 year loan it’s more in interest than the initial loan.

When calculating the increased value of your house over time, first add the following: interest paid on your current house, inflationary value of your home minus the purchase price, repairs you did, and your selling fees. Compare this with the actual selling price of the home. Then create a column that outlines the realistic amount of rent you would have paid. Add that to your total.

I would not suggest using this little formula to calculate what you can afford and whether you are "house poor". Instead, consider if your take home AFTER your mortgage is more than double what you need to survive (or double your current monthly budget). At the very least. The problem with the calculation of mortgage percentage is it doesn't take into account high income earners, who can more easily leverage a 6k mortgage payment when they are bringing home 4k more each month. Furthermore, consider using an even more aggressive formula to avoid crippling interest. If there's any way you can borrow from family through gifting back and forth or borrow from your 401k or 403b, these are far more ideal than a traditional mortgage. Finally, if you really think you can pay this thing off in 5 years, go for the 5/1 ARM 100%. Wish we would have done this.

I should have watch this video before buying a house.

Buying a home in Massachusetts is getting worse day by day. People bidding 50k to 100k over listing price for crappy half century old houses. Even condos are not affordable with high HOA in good school district towns.

I plan to do cash, and no you can't borrow any money.

No one can actually meet those needs in 2024 even😊

My wife and i together our mortgage is 12 percent if one of is working its 24 percent

Merica has a stupid, cruel and punitive medical “system.” Land of the free? Doesn’t look like it at all.

Bro one of your links are to viruses! WTF!?

Luckily i had a loan officer that asked me all these questions. Told me just because I qualify for it doesnt mean I should use it

I had to go to Urban Dictonary to look for "Edgar". 😂

Javier; I am 40 and almost 10 years living in the US. Any time I thought of buying home I get discouraged by watching your videos , which are great but even with a stable work and savings I would never be in ideal shape of 4 months of savings, extra savings , closing cost , up front pay ..etc.. its never be possible. My friends bought house 3 years ago and now they have equities of 100x and lived there for years too. Am i MAKING MISTAKE OF NOT BUYING AND WAITING OR SHOULD I WAIT .. i get your point of being ready but I think I will never be ready ready for this ....

Most of the things you said then are still true today. However, house prices and interest rates. Those who took the risk are reaping the rewards.

2600 a month is a lot for 2 ppl?? so let me know where i can find these houses that i can get a 1000 dollar mortgage for

Vrau.bani.mej.ches.990.billion
Lire.data.28.agust.2023

I am a single mom and I don't make much money. I never had anyone to teach me how credit works or anything like that. I have been working on my credit and finally got it in the "Good" category. I am starting to save but man is it hard :(

Need a Realtor in Orange County to refer clients to?

Great video Javier!
One other item to save up for as well...is house furnishings, many forget to save for this even if you have current furniture at times you'll need to purchase something for example moving into a 3 bdrm 2 1/2 bath, when you used to be in a 2 bdrm 1 bath... you'll need soap dispenser, shower curtain, bedroom set, etc.

I did 30% of just my net. Married, 3 kids, and stay at home wife. Slowed my investing down until the kids get old enough for school. We live “ok” off of just my income. Not a fancy home just ok cars which are paid for. Once kids get school age and my wife goes back to work her income is 100% extra. Living above your means looks good and feels good…. Until it doesn’t. It’s not worth the stress just be happy with a bit less.

Thank you thank you thank you. 👍👍👍

That is why only the husband or wife buys the house with her income or his income and you have all the other spouse income for food,electric and vacations you have to move smart.

Another tip: if you want to work with a realtor get one that is an expert in the area you are buying.

Don’t expect an out of town realtor to know the ins and outs of a ‘foreign’ community for them. Yes. Realtors will often try to schmooze their way through but unless you know the area you’re looking in very well, working with a realtor who is as unfamiliar as you is the blind leading the blind. There are literally hundreds of realtors working in any given area. Local realtors know the lay of the land. They know where the good grocery stores are. They know how long it takes you to get to the local freeway to get to work. They know about the locale’s culture. They can’t really comment on things like demographics but that’s your job as a responsible buyer to do your homework and track down that info. Not hard to find but does take time.

Getting a local realtor will assist in your search but also knowing what you want is also a key factor. If you want a stand-alone home and the realtor is always showing you townhomes, it’s time to find another realtor. Why? Because they aren’t listening to your wants. Having a definitive idea of what you want is crucial and can help save you time wasted on looking at junk you’ll never buy.

Realtors are just tour guides and presenters like Vana White.

Is that a treadmill in your living room?

Really banks do that in USA? In NZ they calcularemos expenses and other debts. Getting money from banks here is not an easy task.