The Best Way To Buy A House Explained | Home Buying Tips - Minority Mindset

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The Best Way To Buy A House Explained | Home Buying Tips
0:00 - Video starts
1:14 - Get prequalified to buy a home
5:07 - Affordability of a home
8:43 - Using a real estate agent
10:19 - Know what you want
11:30 - Making an offer to buy
14:22 - Your EMD
16:17 - Get your property inspected
17:38 - Check the property records
19:11 - Review the legal issues
20:52 - Closing on your property

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Video host: Jaspreet Singh

DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.

DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[wileycates]

I graduated High School in 2017, I learn more in your 20 minute videos than 4 years of financial class.

[JasonWalter]

From one real estate agent to another, this was an awesome breakdown! Well done 🙏🏻👍🏡

[ImVeryBrad]

The bank pre approved me for something around 600k. If I bought a house for that much it would have wrecked me. Our made budget was 450k, found something at 430k

[selectdealer]

I love this guy because he gives actual rules to follow and not just ambiguous advice

[orangeblock]

Good GRACIOUS! 22 minutes of PURE KNOWLEDGE!!!

[ilyaevgrashin]

When you’re start buying get pre-approval letter, not pre-qualification. It’s when your financials, credit score and income verified. Also you’ll have a statement in residential purchase agreement about contingencies (deadlines). In sellers’ market that is happening now no seller will give you more than 25-30 days loan contingency and you’ll lose your earnest money deposit if your loan is not approved at that timeframe.

[lifeisastage]

This was one of your BEST videos! When we bought out first home many years ago, we literally went through the whole process without really understanding 'what just happened.' Not good!

[jimhowes]

Great video. Here's a few more tips from an old soul..
1. know the value of renovations, that dodgy kitchen & bathroom that you can't live with can easily add another 10 15% to the purchase price.
2 Don't trust fresh paint. Paint is cheap compared to what it can hide, especially freshly painted ceilings
3. Always always get a survey done on the land.
4. Use internet to check sales records for that house & street. It gives you a good idea how much room there is for negotiation.
5. Take earplugs on inspections or otherwise ignore selling agent..
6. Always call building inspector after you get the report & ask a few questions. A lot of them are tick n flick merchants & if you read the waivers they guarantee nothing . Listen to the answers.
7.Remember you are buying the house not the furnishings..
Who am I you may ask? Just a guy that spent over 20 years in the home services industry. I was often referred by selling agents to home sellers. Do you know how much a few hundred dollar kitchen top & fresh paint in the mouldy laundry & bathroom can add to a home value? hehe

[Forextrader]

This video is so valuable! I'm literally learning all my financial education through channels like these and all these good videos have really changed my mindset

[frxsty]

“Thumbs Up” before I even watch the video because I already know!

[Ay-B]

Another small tip: If you can, try to get the mortgage just at or below rental rate of the neighborhood. If in the future you need to move but can't or don't want to sell, you can rent out the property and at least cover the mortgage.

[katlynalves]

I think this is the most comprehensive single video on home buying that I've seen so far on YouTube. Thanks!

[huymynguyen]

Man you are awesome. I learned so much from all of your videos. I honestly wish all these was taught in high school.

[dougyshl]

I’m working on buying my 3rd house... been so blessed lately and so glad for this channel! Thanks Jaspreet and everyone working behind the scenes.

[japindersingh]

I love your videos, usually watch with my morning tea.
Nice way to start your day with some financial knowledge!!!

[Scott-byks]

I'm a real estate investor and was once a licensed real estate agent and I would advise getting multiple pre-qualification letters at different price points. This will allow you to make offers on multiple homes at different price points without revealing your full buying power.

[bencarter]

Don't forget that some banks require that you have reserves after all the fees. So you will have down payment, closing, and reserves. Normally this isn't a lot but a few thousand.

[TheSturgeonGeneral]

This channel deserves more subscribers! Keep up the great work!

[hobowithagun]

I find it amazing that you never run out of video ideas! Thank you for all the information, keep up the great work!

[dnice]

This was exactly the process I had to do to buy my home, great video.