Did You Buy Too Much House? - Dave Ramsey Rant

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

[MrPokemon]

Bought a $170, 000 house.
Put $50, 000 down. Then wife and I worked 2 jobs for 3 years to pay it off.
It was a lot of work and worth every bit of it.

[bigspoon]

I don't make enough to live on the lake.
So I bought a house 5 minutes from the lake. Saved about 600, 000 dollars.
Now I travel. But I can always bike to the lake in good weather.

[digitalbrand]

Paid off homes, cars, no debt. Thanks Dave-been doing your program since I lived in Nashville for 25 years.

[olliehopnoodle]

Best thing my wife and I ever did was keep the small starter home we purchased after getting married. It's paid off. The taxes are not bad. Insurance is not bad. Utilities are not bad. We almost bought a larger more expensive home but 'did the math' and realized it was a bad idea. So we bank more money every month because we don't have a house payment or all of the costs of owning a bigger house.

[joseperez]

I just finished paying my house this month it feels good!

[Evelyn-plwe]

There's nothing wrong with having a big house or nice cars (I know Dave didn't say this). The issue is that people want to impress people at the expense of going into tremendous amounts of debt.

[PTucker]

My previous home was at 22% of my single income.
I just bought another house with a double income at 20%, though the new house is valued at almost 3 times of the previous.
I learned this years ago listening to say I followed every step, but I lived along the way a little some dumb choices, but it's all under control now. Too bad I didn't start 20 years be retiring at 55 this year.
I have no more wants to to live a peaceful life. No more debt is the key.

[ivangutowski]

Literally today during the Carnoavirus I was out cleaning my windows. Whilst doing it, I was thinking, good god I would not want a larger house with any more windows unless I can afford to pay someone to clean them.

[davidgroff]

The 25% rule is the real deal. When I used to be able to cover my monthly house payment with my weekly paycheck, the rest of my expenses weren't a problem.

[georgewashington]

I bought a 1, 500 sq ft home for a family of 4, and we only use 2/3rd of the house. My next house is probably going to 1, 200 sq ft or smaller. I have been debt free for 4 years.

[omaxman]

Math doesn't care about your location

[marycarricaburu]

My granddaughter moved from Seattle to Colorado Springs because she said she would never be able to afford a house in Seattle. She is looking at another town in Colorado and has changed her career to be more employable where she plans on ending up. I love that young woman and I am proud of the good head on her shoulders.

[araineacutebrownnurse]

“ I got my real estate license in old “ 😂😂😂😂😂😂I love Dave

[e.samoor]

I am glad I found you early in my adult life Dave! You are a father/guardian to so many.
Listening to you has saved me and my family from great financial mistakes. God bless you greatly sir.

[warriorsofsuccess]

My wife and I are both 28 we have 30k left on our 1200 sq ft house because we bought it run down. Put a bunch of work into it, so grateful for that decision. My wife helps me with almost every project and we are not struggling by any means. Very lucky to be in the position we’re in but it took WORK. I feel like when you work hard, it pays off! Don’t mean to brag but we just want to show everyone it’s possible to get in a good position! Good luck people! Thanks Dave for what you do!

[kb]

I was about to purchase a home, then I discovered Dave Ramsey... well, looks like this plan will be on hold for a while. The mortgage down payment I had saved is now going to be used to clear all of my undergrad loans! Thank you Dave for educating us!

[Zoot_of_Anthrax]

I bought my house in Jan 05 and realtor and brokers wanted us to buy 250-300k home on joint income of 50k before taxes. I flatly refused and bought home for 130k, got divorced and quadrupled my income. So glad I made that decision and didn’t get talked into a 300k home. I certainly would have lost it during 08 bubble and divorce.

[jujubee]

Take it from me. Dave is right all day! I'm dealing with being house poor and I'm tired of it!!!

[jimmygarcia]

U just need a bigger down payment people to get to a quarter of your income. Run the numbers on a mortgage calculator to see how much you need to save. I live close to DC and I need to save a 40% down payment to be at the right numbers. No house poor for me... Dave is right don’t be dumb

[anab]

many people I know back in the bubble years bought homes with no money and no jobs, they were wondering why my husband and I did not buy, we just simply say we cannot afford. fast forward, lots of those people lost their homes or are still struggling. we bought a home many years later when we could afford and with a manageable mortgage