Homebuyers Regret Skyrockets: The Rise of Being House Poor in 2025

Homebuyers Regret Skyrockets: The Rise of Being House Poor in 2025

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DISCLOSURE: I am not a financial advisor. I am sharing my personal opinion on all topics discussed in my videos. Please seek professional advice when needed.

JJ Buckner
NMLS # 2644565

[shazam]

We got approved for 400k and instead we just bought 150k house and now only have 7 years left out of the 15 year mortgage then I'll have a $0 mortgage for the rest of my life..feels sooo good
-editing for all the idiots commenting about property taxes..like yes obviously those are a given but u pay those regardless so doing so without a mortgage is still amazing

[BreezEvaFlowin]

Growing up in the construction world has been a blessing. Having the experience, tools, and friends in different trades make a little easier on the maintenance/repairs

[davidgriffin]

Every house I have bought (I am old now) the bank has said "you qualify for I would NEVER buy a place anywhere near the level they said I qualified for. It's a house, not a status symbol.

[Rohoactr]

Buying a house is the easy part. Paying property tax, home insurance and maintenance cost is the hard part.

[MiguelDiaz-zkdk]

I see a trend here, single income, no skills to do simple repairs, no savings for repairs that require a professional. Under informed buyers on property taxes and understanding life expectancy of appliances

[liveesunflower]

Renting is expensive, a mortgage is expensive we cannot catch a break

[thhousealchemist]

I bought a 3 bed, 2.5 bath home in 2017 for $180k. No regrets with a $1000.00 a month mortgage.

[VicariouslyVanna]

I was scared when I won a house auction in 2023. It was just me and while the payments were manageable, I missed renting a small apartment. So, I ended up renting my house out and moving into a smaller place. Couldn't be happier with how everything went as I'm able to at least break even while the property appreciates.

[Dre]

A home isn’t a blessing until it’s paid off. Don’t get too much house and pay it off as fast as possible.

[tieiatalks]

We recently bought our retirement home. We were approved for $1M. We had a large down payment and we financed waaaayyyy less than we could afford. LIVE BELOW YOUR MEANS!

[buddzilla]

I remember when i bought my house. I was freaked out and wanted to walk away the day before closing. Fast forward 13 years and I'm so glad i didn't make that mistake. I say buy a house you can afford and get in when you can. I have friends that have been waiting for another crash and have been priced out. Be prepared to sacrifice. It gets easier.

[LittyJonez]

I work for a major bank as a home lender…. I can confirm that I see this all the time…… the way the bank qualifies you is based on GROSS income NOT NET income… for example the max debt to income ratio typically is 50% (on average). So if you make $6000 GROSS a month that means ALL of your bills including the mortgage have to be under $3000 (50%)… but in reality your take home is more like $4000 a month (taxes, ss, 401k etc) so imagine your payment being $3000 (with taxes and insurance included) and you make $4000 NET a month? That’s crazy, any little expensive you will be broke!!!!

[ryanpatterson]

Being a homeowner is a huge responsibility, but it really sucks being a renter. You can't do what you want to the property and your housing expenses are still unpredictable with constant rent increases.

[robertlopez]

Gotta be a handyman to make home ownership affordable. I'm ALWAYS, maintaining, fixing, replacing anything and everything associated with my home. I save my self thousands every year because of it. (Same with my vehicles). And my home was built in 2004 and is in really good condition. But maintenance comes with the territory

[BREEZYM]

I bought a 2 bed, 2 bath townhome in 2023. I was approved for up to a $250, 000 loan and ended up having a final loan amount of $203, 500 with a rate of 6.875%. My mortgage and HOA combined is $1, 850. The HOA takes care of the water, sewer, trash, and landscaping maintenance. My mortgage is about the same or less than renting where I live. So why did I buy? Because with the rising cost of rent and landlords having the ability to not renew the lease, there's no guarantee of having home stability. Owning doesn't guarantee having a stable place to live either so it's sort of a Catch-22.

[JaunThree]

Old guy I know planned his whole retirement and savings for his rental house he'd been in forever.
Landlord dies family takes over and raises rent a lot due to "inflation" and he has to move miles away into a complex to find something he can afford.
That is why I'm fine being house poor for my 15 yr loan.

[ashotazatian]

remember, when you rent a house, you pay the mortgage, the property tax, insurance, maintenance costs + some extra to the owner but you don't see it, because it's all priced in.

[tracyaf]

People always talk smack about condos, but the lack of exterior maintenance is a big benefit if you don’t want to deal with that aspect of homeownership.

[nathalyescobar]

True about the Florida house payments due to insurance. My husband bought the house in 2020. His payments started off at around 1300 a month and by now it is over 1700 a month. Insurance here is ridiculous.

[lomoop]

My wife and I bought a 400k house in June last year. Together we make about 175k a year. I can understand why people have a hard time paying for their homes but a lot of people get themselves into way more debt to income than they think and it’s a shame that banks let it happen.