Home Buyer Mistakes to Avoid

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[Greggsberdard]

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.

[barttfisher]

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.

[delusionaldave]

I’m 24 and I don’t have parents, hoping to get my life in order. You have no idea how much this advice means to me. I don’t have any guidance. Thank you sir for taking the time out of your day to post the content you make. I’ll subscribe.

[Xanxer]

I think this made me realize how unprepared mentally and financally I am to even consider buying

[BBMonkeyStar]

When prequalifying my fiancé and I sat down and decided on a monthly payment we would be comfortable with then went to our lender and requested a prequalification for that amount. We were then informed that we could prequalify for almost double what we asked for and we turned it down and stuck to what we were comfortable with. It also helped us dodge the temptation of getting a home we knew we couldn’t afford or would be more than we were comfortable with paying. I’d recommend all first time home buyers do the same.

[rahimrupani]

Homebuying as a millennial feels like the end all be all. It’s a little discouraging sometimes when you realize to even just live takes a crap ton of money.

[r.e.]

when you can't even budget for rent
but you're here anyway

[patriciamonique]

We already bought the house but still watching this lol

[maycygomez]

Qualified for 250k closing in a few days on 185k house 🙌🏾🙌🏾🙌🏾

[johnnyv]

Here is a good one, don't ever let your Real Estate agent pressure you into making an offer on something you don't wan't. If they give you crap drop them ASAP and find a better one.

[ashleyd]

That house fund will also be needed to buy all of the things you never knew you needed when owning a house for the first time. When people buy a house I tell them ‘get ready to live at Home Depot.’

[jocktheglide]

When your rent is more expensive than mortgage its time no matter what.
Edit: been in my new home now for 6 months and my electric is way cheaper than my 2 bedroom apt and stays cooler. The two bedroom I moved out of from they are asking 1800 a month. Yeah way better folks.

[SeanBaker]

I have an emergency fund, and income replacement fund and a house fund. Javier is speaking the 100% truth in this video! I could go on and on about the mistakes I made when I bought this house. I'm happy with my house, but I would have done things differently.

[Morristwins]

My sister and I just turned 21 and we’ve been looking to buy a house because of how toxic our household is and this gave me a sense of comfort that it takes a lot to be a home buyer, especially at a young age.

[luismontalvo]

“Send me a nasty email and make me cry” earned you a subscriber 😂 the solid advice is just a bonus.

[satilikkanal]

Thank you so much for your help *credit lord* I feel like I am a credit human again!

[jenniferreynolds]

When I was buying the house I am in, one of the relators I was working with tried to get me to bump up my max budget by like 30K because I qualified for that amount, but I knew that would make me house poor. Ended up not going with that relator because he was way too pushy about it.

[andrewm]

Just got pre approved for a 200k loan. Mine and my wife's income is about 80k combined. Got a 3% interest rate and with pmi (our down payment is low) the total with insurance and everything is 950 per month. And pmi goes away after 22% of the loan is paid off so that's nice. Hopefully all goes well, we are renting a house paying 1400/mo now so it'll be nice to save some money

[belaubekiis]

My 2 daughters also had febrile seizures growing up bro, and it was scary af every time it happened. Luckily, they both grew out of it at around 3. Hope you daughter’s doing good now. And thanks for the helpful advice!

[wateryourcermet]

As someone who has never bought/sold a house, I recently joined my parents in the process of selling their home (since I would be moving into their new one to save up for myself). It was the first time they had moved in 30 years, so we all were learning a lot together.

Definitely a big thing I learned was how much “other” money you would need for the process.

1) Closing costs, inspection costs, costs to repair things post inspection if you’re the seller, a goodwill payment, etc. These were things I never thought about before.

2) I’ve moved apartments a lot, so moving costs aren’t new to me, but it goes back to the timeline thing. Moving apartments and moving houses isn’t the same, and timelines aren’t usually as clean. So you not only have the normal moving expenses, like supplies, movers, and tips, but you also have costs like short term storage and overlapping rent/mortgage.

3) Household necessities is also something to keep in mind. For instance, when I buy a house, I will be moving out on my own after having lived with family. That means I will need to start a pantry and fridge from scratch, buy all new cleaning supplies, get any household items like light bulbs, trash bags, toilet paper, etc.

4) And then there’s things that are unique to each place you live. Like you might have one more bathroom than you did before, so now you need to buy a shower curtain and rod, extra towels, maybe a soap dispenser and a tiny floor rug. Or that dining table you had in your old place is too big for your new place, so now you need a new table.

Basically what I am saying is, the biggest thing that I learned is that saving only for a down payment is a HUGE mistake. I always thought, “I need to save a 20% down payment, and I’m set.” That’s just not true.