What Should I Be Looking For As A First Time Home Buyer?

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[ruthhouston]

Some cities don’t even have homes that start at 150-180 k.

[GARNET-DAGGER-FF]

I'm 26 living in an apartment. I definitely remember this advice when start looking for my first home

[Ricobaca]

I'll turn it over to Dave.

Dave: That about raps it up.

[mle]

So true, don't let the bank/mortgage co. tell you what you can afford. You'll be shocked at what they approve you for...its insane.

[ryanmcgregorr]

This is extremely helpful insight. I’m looking to buy my first house within the next 2-3 years. Thank you for everything Dave!

[Yeahthats]

Location location location, make sure the roof and plumbing are in great shape ...if not it will cost you in the long location can determine if your value increases or decreases

[APBusinessLive]

Congrats to the caller! We are working toward owning a home one day soon. 😊🇯🇲

[MichaelP-ketm]

Do a 30 year mortgage and make extra payments every month towards the principal, not the interest. Gives you flexibility if your income drops.

[cheezybred]

Dave is over answering these questions, he’s playing flappy bird lol

[ripvanwinkle]

How can Dave be so certain that Chis is better than he deserves?

[Bestfriend-]

No Joke, the bank actually gave me pre approval letter of 1mil hahaha. Thank God my agent always stayed practical and told me that just because you can afford it (barely) doesn’t mean you need it. He did a fantastic job in negotiating the deal and recommended excellent neighborhood. Spot on advice by Dave’s brother.

My personal advice, do a 30 yr fixed and either make extra monthly payments or deposit big chucks semi annually or annually as principal. You can always deposit more but cant reduce the payment in case of loss of job or time like this.

[JeffreyQProductions]

All good advice! I heard another youtuber just this week say that your payment shouldn't be more than '50% of your takehome pay' and I almost choked on my fruit loops. I'll stick with Dave and Chris' advice on that.

[Panzernator]

Dave pulling out his phone to do a quick calculation is great. Good advice!

[crashdafun]

I went to 30% but that is because I live right outside NYC and got a 20 year fixed mortgage. It was a sellers market when we bought also.

[Jfresh]

If I got a 15 year mortgage I would prob be able to afford a 40k house

[unrealhighlights]

Dave on the phone playing forza motor sports in the middle of the call made me laugh so hard

[GruniTheThird]

please make "Better than I deserve" merch. Thx.

[sericar]

I guess Dave is playing Tic Tac Toe over there 😭

[SeanBaker]

Whatever you do, do NOT cheap out on the various inspections. I did, and it sure did cost me some good money after moving in. I still enjoy my house, but ooh buddy! If you want to know the real costs of house owning, I'll tell you.

[jarrettpierce]

I like trolling dave but man this is really solid advice