How first-time homebuyers can find an affordable starter home

Real estate expert Adam Mahfouda explains how first-time buyers can find that affordable starter home.

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[aware]

Bought my first home last year, now a year in and liking seeing the amount I owe go down whereas renting was always sweating the rent increases. I haven’t even seen the tax benefits yet, but know it will be great considering I couldn’t write anything off before.

[PreppyPrincess]

I purchased a fix up home for my first home and I’m so happy I did! Only minor things like the aesthetics of a paint job and changing out a sink which I found they have a resale shop of home fixtures here in Indianapolis and my home will definitely have increased in value by this time next year 💕🙌🏾🎊

[JM-qrqz]

Not the time right now. This is brought up after the stock market showed an inverted yield curve. Inversion is important because of its status as an indicator of coming economic recessions. When short-term rates are higher than long term, it indicates the potential for a future recession because the numbers indicate that investors think the short-term economy is a better bet than the long term. So expect a potential decline of the housing market when we hit a recession. That's the time to buy. Lower house costs. Housing market wants you to believe it's the best time to buy because of the slow down in people buying. But people should know that houses are overpriced. Wait till recession then buy house. You might be potentially saving more than a hundred thousand. Why buy a house at 350 when the market slowdown can give it to me at possibly 180? I save 170 with potentially avoiding a 30 or even a 15 year term.

[av_cali]

You can buy a house by the end of 2020. Thats when the economy will crash again

[EvilGrillCheese]

Owning a home will never be realized for me.

[garykubodera]

One option that was not mentioned is VA loans if they are veterans...there are some with 0% down and credit with closing cost and no PMI in some cases...but then you or your spouse has to be a honorable separated vet...although I'm of the firm belief home ownership is not for all...you may be able to afford the mortgage but you still have to pay for all the other things like saving for upkeep, matience, HOA fees, home insurance including flood which is separate, thash and sewer services, local taxes and even extra costs for area flood protection in some areas.
If your struggling to make it with lease or rent, probably not a good idea to buy a home...just a couple of thoughts to consider

[MrMustangMan]

he didn't say anything about 15 year everytime i see a broker, they tell me i need 10% rent has increased [for me] 30% since

[oogabooga]

there's bout 100, 000 living in the streets in downtown LA & SF, & more in other large democrat run cities who will be happy to hear this.

[arewethereyet]

If the debt is flowing, they will eat it up... this time next year, they will be foreclosing at a loss.

[denniscleary]

I’m currently looking to sell my place to buy my first home soon hopefully

[michaelmccullough]

When the reset happens Gold back dollar, many will have opportunity to purchase homes.