Dave Ramsey's Steps To Buying A House

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[karolinrose]

the home prices in my area around Toronto START at that's $160, 000 downpayment and $4, 500/month. If $4, 500 can't be more than 1/4th of my take home pay that means I need an annual income of $216, 000. What a great time to be a millennial fresh out of university.

[Leesa_T]

"Everybody tells you to run out and buy a house, but everybody's broke...so don't listen to them!" That line took me OUT! LOL! Love it! Dave Ramsey is awesome.

[alondrarodriguez]

I was able to buy a home on my own with no agent and the seller sold the home to me without an agent so right off the top we both saved. I researched for the best loan and interest rate and was able to get a great loan. I also researched buying a home and we paid for an appraisal and an inspection. We split the closing costs. It was great! I saved 8, 000 by not getting a realtor. All I had to do was research and we closed one month later.

[thescrub]

Generally I agree with using a realtor...however. When we went to sell our last house all the realtors (we got quotes from several) were telling us to list for $175k, but we knew from doing our own comps it should be way more. We listed it ourselves for 225K and got a full price offer on the first day, we made no concessions or repairs. So in my case, not using a realtor made us $50k.

[robertolmstead]

Don’t buy if you are unwilling to commit to a job or location for the next 5 years

[Devinfrbs]

Wait... your buddy was able to buy a house just out of highschool? Times have changed.

[mavilmaloco]

@Dave, you replaced Netflix in my life

[mkite]

Debt free as of 6 weeks ago thanks to Dave! The lease on my expensive downtown apartment just ended, so I used it as an opportunity to move to the burbs and rent a cheap place for a year, build my emergency fund, and save a down payment.

[MichaelDavis-cjyj]

Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.

[mikeschaner]

I cant believe i used to listen to you when i was little, and you're still around!!! Love it! Thanks for the invaluable information

[joethebar]

In Vancouver ( and surrounding area), a house is 1million and in many cases, a lot more.
I was fortunate to buy a really nice townhouse in 2004-put 5% down. 238, 000. It’s worth $600, 000 today in a soft market. There’s no way I could get in the real estate market if I was starting today. Luckily for me, my payments are manageable but there’s still property tax and strata fees every month.

[crow-vzlx]

I literally build my own PC's and repair my car, lol but I understand what he's saying about the house

[Judysunyoo]

I completely agree! My real estate agent was my moms church friend and it was a terrible experience. Lost 40k where every other house sold for 40k to 100k more than my own house

[rubenescobar]

Don’t buy a house unless your out of debt stopped the video and will continue paying my debt off thank you

[foreigncontaminant]

Saving up and buying cash saves a ton of interest. It's doable, and from my experience it's not easy. But when I think the next 200 grand I save is mine to keep and invest, definitely nothing to sneeze at.
I hope Dave's word reaches far and wide!

[branjeff]

Hey Dave! Loved the video, just wanted to share that my mom is now one of your Real Estate Pros and she helped me buy my house so I know I was in good hands :)

[jglobetrotter]

Our mortgage is cheaper than rent and we have the income to pay off our student loans quickly, while also building equity in our fixer-upper by working on it ourselves. Our home has already gone up in value and I am SO glad my husband bought it when he did, because we couldn't afford other houses near this location. I don't think you have to be out of debt to buy a house.

[InnKogNeeto]

For couples it may be easier. One paycheck is saved while the other paycheck is used for bills. But for a single person, he or she has to be mindful of rent, utilities, and car expenses. It’s not has easy as it sounds to save money. It’s not impossible but definitely not easy.

[Shooting_Stuff]

A 15 year note that’s 1/4th my take home pay? If only we all lived in a perfect world like Dave. 😂

[briantii]

If the interest rate is very similar then I personally prefer a 30 year mortgage but paid off on a 15 year or better schedule. This allows lower payments and stretches your emergency fund should you find yourself in a bad position with employment or other unexpected expenses. It also provides more cushion should you have trouble selling your old home. Before anyone says “but no one actually follows that plan”, I’ll go ahead and agree that some may struggle with it. If that’s you, do the 15. If you’re committed to the plan of a 30 in 15, then it’s not a bad option.