This Is Why You SHOULDN'T Buy A Home (6 Reasons)

Here are 6 reasons why you shouldn't buy a home!

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0:00 Why you shouldn't buy
0:53 You don't know why you're buying
4:14 You don't have savings
5:50 You aren't comfortable with the costs
8:34 You're not comfortable with the market
9:39 You're going to live in the home less than 2 years
10:41 You have a lot of debt
13:14 Renting is not...
14:57 Step by step plan to buy

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Kyle Seagraves
NMLS# 1701021
Motto Mortgage Alliance
8900 N. Dixie Dr.
Dayton, OH 45414
Equal Housing Opportunity

[takeishaparks]

We just closed two weeks ago. We bought and got a loan without PMI. Our mortgage is much lower than previous rent. We didn't have to compete for the house and the inspection and appraisal was above average. We had an amazing team behind us!

[emarti]

I was extremely lucky when I was searching. I wasn't pressed for time. I was prepared to continue to rent if needed. I was most definitely at the right place at the right time. It was a short sale, so I had 5-6 months to back out if I wanted to (even if it cost me my EMD, would have been a small price to pay to do the right thing). Plenty of time to take care of some debt, save for the move (my friends were awesome helping me) & map out my budget. Big key: I bought a property well within my budget. Mortgage is LOWER than what my rent was even with putting down 5%, paying PMI (for now) & escrow. If your wallet is ready, have a good team around you!! Buy smart!!!

[BrianaBudgets]

This is an incredible video. I have had my heart set on buying a house for about a year now but this video has helped me realize it’s a better idea to just wait a little bit. Thank you!

[JavyVidana]

Reason #7 to not buy a home: Win The House You Love doesn’t return your call, emails, fan mail, texts, carrier pigeons, or telegrams.

[JB-yyvt]

My hubby and I need to move we’ve outgrown our starter home and have been making it work for years with our kids. We’re financially stable and have 20% to put down and a ton of equity in our current home that we’ve lived in for 16 years. Even with all that we quit looking after actively working with a realtor for months. We realized that this market is not for us, we’re not willing to get into bidding wars for overpriced homes that we don’t love. It’s a big decision and one we don’t make lightly, we definitely can’t decide weather or not to make an offer in a matter of minutes. We’re patient we can wait and we’re fortunate enough to have our current home.

[RachaelintheBoro]

I wouldn’t work with a buyer that isn’t absolutely sure they need to move right now, sadly there are Realtors that will show property to anyone that asks. And buyers need to be ok with having competition. Some people don’t like the added stress of buying in a highly competitive low inventory market, and even a low interest rate can’t overcome that. Love your videos 💓

[cherrybomb]

I really appreciate you putting the lists next to you as you're speaking, it helps me stay focussed on what you're talking about as you go on. As a visual learner it helped me enjoy the video more and get more from what you were saying verbally :)

[DayanaPlays]

It’s a trend to buy. People aren’t doing enough research they’re just going with what’s in! Huge mistake. Great video!

[smilingsince]

This is the reality for me, I don’t have enough savings, as much as people nag and question if I’m going to keep renting for the rest of my life they don’t understand buying a home is not a “One size fits all.”
I’m the only sole provider for myself and my daughter. However I’d like to buy a home so that one day I can pass it down to my daughter and set her up for financial success.

[CreditSolutionist]

I'm still working to understand the psychology of potential clients that have no solid reason to fix their credit and aren't sure why they want to purchase a home. It's fascinating to me, but I usually don't end up working with them until they get laser focused on a specific goal. Don't wanna play a part in them getting in over their heads prematurely. Good commentary here. Loving the content!

[adrianledesma]

I feel like I’m in this position where I want to buy a house yet not completely sure it’s the right move. This video helped clear a lot of my doubts. Thanks Kyle!

[jiffybishop]

Thank you for this video. My friends are either realtors or are buying homes in the small town we grew up in and they're constantly preaching "I'm throwing money away by renting."

No.
I live in a high cost of living city. I don't know what neighborhood I wanna settle in yet, I don't know where my career will take me, I got antsy in my 2 year lease and looked to move earlier than it was over so I am CLEARLY not ready to commit to a home right now. I like the FREEDOM of renting. I like not having to worry about maintenance costs or property taxes on a 450k house. Renting is the best scenario for me right now and I am not throwing money just cuz I'm not rushing into anything I might regret.

[wendyrivera]

I just want to say, thank you so much for this! Like really... My husband and I have been looking/searching for our forever home outside of New York (this is where we live) not only cause the houses are too expensive and small, but it's just time to go. I've told my husband that you can get more bang for your buck out in any other state.. but wow after watching and hearing your video, Imma have to start rethinking a lot of things. Thanks so much and stay safe.

[jellyrcw]

Excellent channel. I cannot recommend you enough. You've been so calming and insightful. So happy that my bid was accepted and I have another home inspection tomorrow. Here's hoping it all goes smoothly!

[izziestevens]

13:30 VERY WISE WORDS! Thank you for reassuring us! I hate being asked by acquaintances When will you buy a house?

[aivah]

Thank you for the information. This is what ppl need to hear. A lot of ppl are wanting to buy for the wrong reasons and could potentially get themselves into debt our regret just because the media is telling everyone to buy rn.

[jenniferlangston]

I’m VA, had used all my savings to actually buy
My home. Now I’m building my savings back up. I also had just enough to buy. This only covered closing costs and other fees. My down payment was nothing. I’m not sure if this counts me in as ready but it took me years to save up $12k in CA. I also didn’t want to go into another lease with most landlords charging 1st/last/deposit and continue throwing money to renting. my credit was good, my debt to income and I had the money to close. I probably should have put a lot down but other than that. I feel like I made the right choice.

[missbnatural]

This is something we had to look into. We are looking into new construction and one house was like 1300 and taxes a year was going be 2000. That’s a no for me . So we went for a smaller home and that’s okay with us

[elguerrillero]

I love your loan officers want to get is all they care....No the clients....

[JustCallMKarma]

My husband and I have been married for 14 years, and we have outgrown our apartment with our two kiddos. But we’re still not fully ready to buy. We need to fix a couple of items on our credit and get a little bit more saved up. So we’re looking at starting the buying process in about a year. I really enjoyed your realistic viewpoint that you provided. A lot of people jump in head first without thinking long term, or the actual cost of buying, and the responsibilities of buying a home.