90% of Home Buyers REGRET Buying Their Home
Вставка
- Опубліковано 24 лют 2024
- The dream of homeownership has turned sour for many, especially millennials, who find themselves trapped in undesirable locations, burdened by soaring interest rates, and grappling with the unforeseen challenges of owning a home.
In this video I explore the myriad reasons behind this widespread buyer's remorse based on information from a report done by Real Estate Witch. I also share what today's home buyers expect when entering the market in 2024. Some of these expectations are unsettling to say the least. But of course as always I share my thoughts on how to avoid having these same regrets.
Thanks for watching! Why don't you check out these videos next?👇🏻
New Year, Same Housing Market ➡️ • New Year, Same Housing...
The Housing Market is NOT like 2008. It's like 1980 ➡️ • The Housing Market is ...
Thanks for being here to get your dose of real estate reality! 🏡
🏡 NEED A REALTOR IN YOUR AREA? Click the link below to get connected with an agent!
✅ homeandmoney.com/jackie/
==================================================================
🏡 If you're interested in purchasing a foreclosed home, visit Foreclosure.com to see all of the available homes: www.foreclosure.com/?rsp=3655
====================================================================
🛏 If you're looking for the best mattress in your new or current home, check out Saatva: saatva.prf.hn/click/camref:11...
As an affiliate partner with Saatva, I earn from qualifying purchases at no extra cost to you.
====================================================================
Be sure to subscribe!
✅ SUBSCIRBE ua-cam.com/users/jackiebakersellsnj?sub_co...
#realestate #jackiebakerrealtor #jackiebakersellsnj #homebuyingtips #homesellingtips #realestateinvesting
All images and additional video segments contained in the Thumbnails and/or B-roll segments are used in strict compliance with the appropriate permissions and licenses required from pixabay.com and in accordance with the UA-cam Partner Program, Community guidelines & UA-cam terms of service.
If you want to know what experts are saying about he housing market in 2024, watch this ➡ua-cam.com/video/VM5udt3C_LE/v-deo.html
the experts? lmao
I am not trying to create a battle between millenials and boomers lol.
I'm a Millennial, I won't buy a house unless it has at least half an acre of land with trees surrounding it (majority in the back). I also won't buy a house if it not in a good neighborhood. Fortunately, my city is beautiful and safe. I don't live near criminals. Unfortunately, I don't have a family, so the house I want to build (not available to buy) would be too big and lonely. Currently, renting a new large studio apartment. It not worth the hassle of owning a home by yourself. Home buying is more of a two-person affair.
I'm going to be as civil and as respectful as I can be............. they deserve it.
These "tech savvy" millennials grew up in the information age. They live on their phones. There's no excuse for making soooo many poor decisions.
Buying in a bad location? Mold? Asbestos? Condos with a baby on the way? Buying sight unseen? Not setting aside funds for repairs? Gimme a break
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look her up.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Something I see a lot is people not realizing how their property taxes is gonna affect their future monthly payments after buying these overpriced homes.
Nicer and safer areas have higher property tax.
Sad but true. And taxes only go up.
That and insurance and cost of repairs (not to mention living) are why I'm afraid to buy even though I could pay cash. 😢
They sucked in newb home buyers. I'm pretty sure they didn't have the property tax discussion with their Realtor.
And insurance increases
I had a coworker who was a realtor in her past life. She always said to me that it’s better to buy the worst house in the best neighborhood than the best house in the worst neighborhood.
She's not wrong!
That statement is older than me, and I am 67.
@@mikemay777 Who cares about your age? Do you want a medal? Boomers, smh
I believe that comes from red lining and white flight.
Words to live by. I've been a realtor for 32 years and other than "location, location, location", it's the first thing they teach you in RE class.
It’s not that millennials “wont” put 20% down it’s that they “can’t”. Most first time home buyer millennials dont have $80k set aside, only people selling an existing home have that kind of down payment.
That is true.
If they stopped buying the best and most latest tech gadgets, eating out 2-3 meals a day every day, buy cars they can’t afford, they would be able to buy something. And I have never put 20% down on any of the 8 homes ai have bought.
I currently own 5 homes (rent four). If I were to sell my primary (which I wouldn’t sell), but I still wouldn’t put 20% down, unless ai needed to get the payment down to what I could afford.
The PMI and additional increase in payment would be less paid than the interest I’d earn over a 5-6 year period.
@@ImMeandYouAreYou6942 yeah that’s way out of touch. The payment to income ratio is likely double what it was when you purchased your properties.
@@ImMeandYouAreYou6942 Haha, that's crazy talk. PMI is set to double just like all other insurance in the last two years. 20% down is the standard for a down payment. The 40%+ increase in home prices has caused many people, who could have purchased a $200k home with $40k down, to be unable to afford the $70k down on the same house now priced at $350k, much less pay the insanely inflated mortgage payment. You can put down less, but then you'll finance more, AND get hit with PMI, adding insult to injury. People either need to make more (lol, corporations aren't going to let that happen!) or home prices need to fall significantly. The rates make no difference. You can refinance a high rate, but you can never renegotiate overpaying on the price.
Millennials and the generations after them definitely got the short end of the stick.
I purchased a townhouse in an excellent location with a low interest rate. Then refinanced for a 15 year mortgage. After having lived with my parents, paying off my school loans, saved money, and paid cash for my car. It was a simple life, no designer, clothes or handbags, but worth it!
Awesome!!! A simple life is what I personally think a lot of people don’t understand will help them financially.
My husband and I bought a condo in a pretty good neighbourhood. We have a really low interest rate and our mortgage payment is really low. We practiced for years of living below our means and the practice has worked well for us.
Within three months of our purchase I regretted our purchase. I couldn’t sleep thinking about how I influenced our decision. I selected a better location/ smaller home; instead of larger in a location next to a freeway. We outgrew our place and I regretted not getting the larger home & then I came to realization that no place will ever be perfect. There will always be something that we don’t like. Now I’m grateful that I have a space to call my own, even if it’s small.
I respect that you came to terms and just appreciated what you have. Not a lot of people have this mentality.
People are broke, and the cost of literally EVERYTHING is way up. We’re in a lot m a lot more trouble than most realize.
It's creates more and more wealth division amongst all kinds of people.
And so what will the young adults do? Live at their parents home as long as possible
or go rent with a friend or two. That's what my daughter did when she started local
college. She rented a house and with some other students they divided the rent amongst them. Eventually did good enough in her job and went out a got her own apartment.
Otherwise she would have lived with her mother and brother for a long time. Her brother
is disabled (intellectually) with autism and her mother was stressed out and tough to live with so she made a good choice.
I'm 68yo. I just started watching on YT this guy who works as a repo man in Cleveland. Has over 1 million subscribers.
It's interesting that you say this. Vehicle after vehicle repo man picks up are really nice, expensive-looking vehicles. They are all owned by men with a rare female here & there.
So why do so many Americans buy stuff they can't afford???
I am sort of embarrassed driving around in my 32 year old Toyota but atleast no one can take it from me because it was fully paid for very long ago & just reminding myself that any embarrassment goes right away. Low mileage & very reliable, too. That's not what Americans want. They want looks. They want others to envy them. Say ohhhh, & aaahhh. 💥🤯💥
I see a lot of ppl wasting money in so many ways!! Too many of us are spoiled, take vacations they can't afford, buy the more expensive phones, clothes, toys then complain they are broke.
I don't have much pity when strangers tell me that. Sorry.
@@andreah6379 People in their 60's have the most common sense when it comes to money. I'm not talking about rich people but up to well off ones. You live well within your means so good for you sir!
Because everybody are buying crap they don't need and having almost thousand dollar car payments. Duh!? Cant afford a house with that crap weighing you down.
@@joaquimrodriguez8961 They can live in that vehicle or the repo man is getting
busier every day.
😆
Living next to bad neighbors is my #1 fear! That would be so awful to feel so stuck. 😓
Been there , done it. It is the worst experience.
Yes…and even if it’s great when you move in, you never know what you’ll get when the good neighbors sell and new neighbors move in….
Bad neighbors with dogs that bark all day is the absolute worst experience, it's truly a living hell.
Buy in better neighborhoods will give you better odds. Its not full proof buy buy in the ghetto and youll probably get 3 families in each house. No parking in the neighborhood and a bunch of nonsense. The only people that cause issues in our neighborhood are renters and homes that rent out every square inc of their homes. The home owners are quiet and respectful. When these losers move out the neighborhood calms down again.
@@Joel-Serra seems to be a common occurrance now...the human infatuation with these mutts is off the scale.
Homes are overpriced, that is the problem.
Yup!
And TAXES are too high , Insurance are too high
Unfortunately, it is a question of supply and demand. Prices are based on the lack of supply. After 2008, builders were afraid to build at the rate needed to fuel the market.
As a retired boomer in an overpriced home, I agree sadly. But I think that prices will soften, at least relative to inflation, as boomers die, as more people enter trades, as local governments prioritize home building over excessively restrictive rules (like side and front setbacks...my parents grew up in small but pleasant single family homes with small front and side setbacks, big backyards, sidewalks, those homes still there 75 years later, still pleasant seeming neighborhoods).
Homes are priced at exactly the right price …
Stop focusing on the interior cosmetics and see how the neighborhood looks. Too many home buyers focusing on how the kitchen and bathroom looks and not picking up red flags in the location/neighborhood.
Jacked in the hood.
My main issue is the overprice tag while the inside looks like a murder scene. That’s where I draw the line
I feel like this also boils down to people resenting the fact that they can't afford their dream house.
I would also add that a corrupt HOA is a primary reason why home buyers in these communities have regrets
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
I'm glad you shared that. Too bad no one except the realtor and I acknowledge.
Revelation 13; 18..is coming,, only way to escape is John 3;16 THE BIBLE
I ended up buying the house that I rented from my landlord. This is a pretty good strategy to get to know the house and area before you commit the rest of your life to a mortgage.
You're so lucky you got to do that! That doesn't happen too often.
@@JackieBaker I almost wish I had. Great location but a fixer-upper for a high price. True, though, I knew what the problems were 😄
This is what my husband and I did. It was a fluke that we lucked into this situation, but we rented for a few years until the owner said he was retiring and wanted to sell. He gave us right of first refusal, and even offered the first five years owner-financed. I guess he liked having us as neighbors, because he lived right across the street! It's a shame it's so hard for people to find these types of situations, but I certainly know how lucky I was!
We had a home inspection and the neighbor got so mad at us just being their that he called my wife and female realtor unspeakable things and when I confronted him he threatened me and then he called the police on me who ended up arresting him and telling us he was known for this behavior. We lost out on the appraisal fee but it was worth not spending the next 30 years next to a psychopath. He still lives there and the houses surrounding him are constantly going back up for sale, so definitely find out about the neighbors!
Thank goodness he showed his behind before you purchased
Wow. That was money well spent. We had to move from the house we had custom built in 2000 ,mortgage free . Neighbor had a German Shepherd he trained to sit at the fence and bark continuously until he called it in. We went to animal control, law enforcement and a lawyer. He was within the law, just barely. We had to move. It's cost us a fortune.
@@JustinCase-lu6qp That’s not disturbing the peace?
Apparently we’ve been living one block over from him for 23 yrs! A real nightmare for the whole neighborhood.
The neighbor behind us in the first house was always out in his backyard blaring music and drunk doing yard work or in his pool...so obnoxious. We sold in the late winter and thankfully the buyers never saw him.
People regret buying houses because realtors convince them that the EXTREMELY OVERINFLATED price of the house they are interested in is a GOOD DEAL.
I hope all the realtors and their agents held on to most of the money they swindled people out of the last few years, because, ALOT of them are about to be unemployed.
At the end of the day, realtors are sellers and they are running a business. There are some good ones out here but people need to be aware that they just want to sell no matter what.
at the end of the day WE are all responsible for the decisions WE make. BE SMART
After selling two homes in 2020, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Most investors can't handle a crash since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $750k in the last 13 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
I tried researching strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.
Her name is Sonya lee Mitchell. Hope that helps
Just copied and pasted Michelle on my browser and her page popped up immediately, thank you for saving me hours of researching.
I always said No Highways, No train tracks, and No houses built out by road or busy road.
Beggers can't be choosers
@@brikfiend Not all of us a beggars…some work hard and save
Definitely no train tracks
I actually don't mind trains, but the highway noise is something I can't deal with. @@ashleythetherapist7831
Add within airport airspace to the list. You'll hear planes overhead all day and night. You'll have to invest in soundproofing the home.
I love renting and having the option to move around. Love not being responsible for the maintenance of nothing. I use that money to travel. 🤓
That's awesome!
I totally disagree. Most I know 30 year that never bought regret it now they can’t afford a home as I sit on a million plus equity.
@@patrickchilds5486 Some people buying a home has been their biggest nightmare . All depends, it’s honestly a gamble. Jackie pointed out sone great examples.
Not me. Renting is even more competitive. My monthly payment on a 4 bdrm house is someone’s 3 bdrm rental. We bought in 2022 and it has already appraised $60K and we haven’t even lived in this house for 2 years. If we sell, we’ll have a profit. You won’t get any of that money back from renting. Rent is getting more and more expensive where I live.
@@flex1661how do you make sure your rental is in a good property? I’m looking at apartment reviews. But it seems like there’s always a mix of good and bad reviews on each complex.
My grandparents raised four kids in an 800 square foot row home in Philly and I grew up in a 950 sq ft rancher.. The reason why real estate so expensive because people refuse to live in smaller houses .. actually houses are way too big these days
This x1000. The American dream is not a mansion and being a millionaire. It's living a simple comfortable middle class life.
@@rkgaustin9043 And $900 a month on a vehicle, is even worse!
Don't include me among those who don't want a small home. I bought the smallest the developer built at the time. 4 bedrooms but only 1568 square ft. I don't need 4 bedrooms and lots of ppl live by themselves, especially boomers.
Finding a smaller home than this was impossible. Builders build for families with lots of toys. That's not what everybody wants.
I'm sure many people would like smaller homes, they're just not building them as small as they used to, and the smaller ones are from the 60s and earlier and can come with a lot of work due to the age. I wish there were houses built in the last 10 years that were 1000sf or less!
@@thegingerpenguin In Virginia I could qualify for a townhouse, it'a like 1300Sq. feet. In 2021 I got mine for a price of 188K. 30 year fixed mortgage. VA loan, so nothing down. Payment is 940 a month. This is in central Virginia, Fredericksburg.
I've got $36,000 left on my mortgage. I live in a quiet and safe cul-de-sac, pay $115 a month in property taxes. The location is perfect. I'm one of the 10%.
I pay alot but i dont regret buying my home in Corona CA 🙂
You are definitely blessed. 😊
Same gurl! Only just bought three months ago, but I did my research. Did my homework. Went to over 100 open houses. Saved diligently and paid a huge deposit (50%). Have set myself up for success. Cul-de-sacs are where its at too 😌👌
I'm not too far behind. I ow Penny Mac $185.000; with 20 years left; I pay $17.500 a year in taxes; good location and I live in a lovely two family house. I collect rent.
@@flexiblestrategist9922 Geez, 17 grand a year in taxes? What state are you in?
People bought homes because it the fear of missing out.
There are only shit houses right now or expensive houses take ur pic
yes unfortunately many did.
@@argeldelacruz9545 Do you live in a shit house or an expensive house ?
@@sarahann530Expensive house, in my case. After 2008, I knew that people were overreacting in the degree of avoiding home buying, and the market would eventually go back up in a correction, so I finally bought ten years ago just as it started to. Maybe wait for the inevitable softening as home building picks back up (I see a lot of it) and my generation dies. It sucks, but I don't think it will last forever.
@bearcubdaycare Unfortunately the stupid lasts forever with the fans of this schmuck .
I don’t regret buying my home. We have owned it for close to 40 years. We could have done better but very thankful for what we have.
When I bough my first home, I noticed the unkept yard and when I asked the agent, she said that the neighbors were elderly people. Truth was the mother was living in another state and the drug addict son was living there. Eventually he ended up being murdered right behind my wall, it was a townhouse and the wall was common, at night, with me and my daughter in the townhouse present. It was the scariest experience ever. After that for years I had no one living there, a ghost house, their sprinkler was leaking all the time under my foundation and HOA did nothing as it was behind her fence in her yard. I sold the place. What a nightmare it was. Now I would knock the door and ask who lives there. And if nobody answers after few attempts, well, maybe I will keep looking.
Wow! Sorry you went through that. But good on you to check the neighbors next door to see if anyone lives there! Great idea!
Dont do HOA. Its a waste of money.
My dad said he actually went and sat in his car outside of numerous properties he ended up purchasing . He said he went at different times of the day on different days of the week to watch what the neighborhood was like. I myself have walked neighborhoods, met people walking their dogs, gone to the local parks, talked to people there.
Crazy to buy a bigger house because owners are sick of tripping over their kid’s toys. Get a toy chest and teach kids to put their toys away. Boomers started out in much smaller houses, which they paid off, and thus were able to afford larger houses a few decades down the road. In the 1970’s, the average US house was 850 sq ft.
Growing up in the 70s-80s in a middle class neighbourhood on the far south suburbs of Chicago nobody had less than 5 kids and also sometimes grandparents with them and the homes had 2 bathrooms and 3-4 bedrooms and nobody ever upsized or moved because they outgrew the home….only after the mills closed in the 90s did things change.
Maybe they are buying too much crap
There were times when I regretted buying my first home (30 years ago), but not for the reasons listed. It was because it was in an HOA community. I sold the house to get away from the HOA. Absolutely love the new neighborhood that we are in. But now there is a new problem with our current house. We are now at retirement age and the stairs are starting to be an issue. No house is perfect, but it is better than renting.
Very true! And I'm seeing a lot of stories about nightmare HOA's lately. When my husband and I retire we always talk about living in a community with an HOA but we may have to re think that now!
Practice doing the stairs every day and your body will continue to be able to do stairs. Take stairs out of your life and you will become stair disabled. If you want to be able to do something as you age, you have to keep doing it.
@@FreedomTalkMedia - I will mention this to the wheelchair bound people I know. I'm sure they never thought to just get out of their chairs and just walk up and down stairs. Who knew it was just that easy...
@@chiplangowski3298 Yeah, very few of the people are in wheel chairs. I was replying to a comment where you said, "stairs are getting to be a problem." Getting to be a problem most likely means a loss of strength is happening. Before it becomes a debilitating illness that leads to wheel chair use, loss of strength can be reversed with.... wait for it, strength training.
@@FreedomTalkMedia - The problem is arthritis and joint replacements. The need to use walkers and such. Not everyone in the world is under 40 years old. And here is a shocker for you, you will be old one day too. Some problems can be solved through exercise alone.
finding reputable and knowledgeable contractors for repairs has been a challenge for us...we have been attempting to finish a bathroom we started last september...it wasn't even a gut job...we had a licensed company that came in and did the job...then came back to redo the job...and now has to come back and fix the shower door opening...because apparently math and 'square' are foreign concepts to these contractors 🤷♀️
I moved to Las Vegas in 2017 and I've moved 3 times. I hate this place!!! No, I couldn't live near high traffic . I bought a home during covid and when it lifted, the traffic was horrific. Now I live with the hoa board from hell; it's quiet but I'm paying twice as much for everything. I have got to move ONE more time, before I move to the 'pearly' gates.
If you bought in 2017 in Las Vegas, you should have a good amount of equity in your home. HOA in Las Vegas are important because if you don’t have them your neighborhood will look like trash. You either pay through the HOA are you pay through losing the value of your house with bad neighbors and no HOA. Things are very expensive here, yes, you’re right. No doubt about electricity gas and water are through the roof. But you should have enough equity in your home to sell it and do very well even in another location if you wanted to move.
That is so unfortunate.
We did the same thing, sort of. We Bought a home during Covid (National crisis) half way across the country…due to personal reasons (family and hubby’s job). I would NEVER do that again. We moved from San Diego (renting) to Austin, TX (buying). We also bought a home sight unseen. For the most part, we lucked out about the house not having any real issues, but I always woulda shoulda coulda wonder had we rented here in Austin for a year could we have bought a different home with a little bit of acreage? Probably not. 2021 and 22 were ungodly, and almost disgusting years for home buying..lol. I think we would still be renting. What am I saying…I guess I’m saying don’t buy during a crazy national crisis! Don’t be hasty…like my hubby and I did. We don’t actually regret our decision but we do pause occasionally and think could we have done better.
Reality check coming from a home inspector. Almost every used house needs around 50k to 100k minimum to bring it up to what you think it should be and that does not include remodeling, just repairing or replacing existing components. People do not maintain home like they should and all of that gets passed on to the next buyers and so on and so on. This brings on a ton of regret and is also a depressing way to live.
Exactly why when I moved to Nevada, I wanted a brand new home 19 years ago. Now, I see, places all over the US with new construction are having a very hard time with every well known builder. The construction is shoddy and some new homeowners have to sue to get the repairs done that should never have been.
YT has good videos, eye opening ones on this topic.
What is going on that now newly built homes are such a major problem??
@@andreah6379 Its not that they are new houses, new construction is actually pretty good. The majority of these houses are being built using people with very little or no experience. Blue collar work has gone to shit in this country across the board mainly because of pay and poor management. All blue collar jobs pay just enough to keep you from quitting while the CEO's at the top are making billions. Until this problem is solved its only going to get worse.
Oh I agree. All the houses I've looked at are run down, and haven't been touched since the house was built in 1958. They're always asking $400k+, but whomever buys it, will have to completely gut it, replace the roof, heating system, water softening/filtration system. You're looking at another $300-$400k in repairs.
This is why I paid an inspector to go through every inch of my home before I even considered making an offer, I was very fortunate that the previous owners not only took great care of my NEW home, it has a new roof, new water heater, fairly new furnace, I was impressed at how well maintained my home was and it makes it so much easier for me to maintain!
Don’t buy a house over 15yr old if you don’t want repairs soon after moving in
If you buy a house that you can't actually afford, a major repair will force you into a foreclosure. An extensive roof repair can run you tens of thousands and replacing the HVAC can cost you over ten thousand too , a simple water heater replacement can cost you over one/two thousand dollars. Be careful out there folks. Do not over-extend yourself .
That is a sad reality. People need to have their emergency savings before they even buy a home.
True. Make sure to have savings account just for that if you're not a handyman lol.
I just bought new furnace, 6,000$
Had plumbing freeze and break.
It's always something. But I wouldn't change it for the world.
But it's easier for me. Home is paid for. Back in 2019. 7yr contract. Boom..paid.
And i'm jack of all trades.
Know how to build from ground up. People think they can get by on a credit card. Never used them personally.
Age 67.
But making prudent financial decisions isn't the American way.
Having a home repair warranty has saved me thousands. It's a must, in my opinion, but most will choose a Netflix subscription vs. AHS.
I think this makes sense considering the messaging we got growing up around homes being like “if you are paying rent you are just paying your landlords mortgage” and “get a starter home to get on the ladder and then just sell it when you want a new place.”
Seeing our parents benefit from owning while the rents just go to the moon also hasn’t helped.
The problem is that millennials had advice from a different era drilled into them regarding homes and see it as the only and best wealth building tool.
It's still the best wealth building tool. It's just gotten so out of reach for many people.
There are plenty of reasonably priced homes out there. People just have to be willing to move to those locations and/or drive further(or land a remote job).
@@JackieBaker people like me can afford to buy a house but why buy when I can rent a nice place for half of the cost of a home of equal living standards. I also can use that 20% down payment ($80k) to invest and let my money work for me. There’s really no reason for housing to be as expensive as it is. At the end of the day, the value for the dollar isn’t there.
@@jonjudkins-yl7hy I’m in the same situation and I agree entirely. Renter by choice, and a third of my household salary goes to the stock market each month.
Houses really aren’t a great investment. Imagine if your stocks costed annual maintenance fees, an annual property tax of 1-3% depending on your area, insurance fees, hoa, etc. That would be a vast negative dividend. There would be a buyer strike on the stock market.
Yet, that’s what house owners put up with.
Cap rates are so awful right now that simple 5% bank interest beats them. And cap rates are eaten into by repairs, tenant issues, vacancies, etc.
The only thing a house has going for it is extreme, extreme leverage. You can buy a house with a 30:1 leverage loan. That’s batcrap crazy, but we’ve been conditioned to consider it acceptable. Just a few percent decline in house value wipes out your entire equity in that case.
I could buy stocks with extreme leverage if I wanted to, as well. I could max out my margin, and put it all in Calls for leverage in the hundreds of percent on something like VOO. But I don’t, because stock market investors know leverage is a way to lose the shirt off your back. Sure, it’s sweet when it works. But when it doesn’t, you’re ruined, because leverage like that is putting money at risk that you don’t have and haven’t invested.
@@Katadori09 factor in that capital gains is tax free on personal residence
I can't say I regret buying my last 3 condos, but definitely the factors you mention are important. My last place was near a highway which I didn't like, but got used to it. However it was a lower floor. Originally I had great neighbors above me. Then they sold and the neighbors from hell moved in, forcing me to sell. My latest place I was rushed into by my real estate agent; he said I had to close 3 months earlier than I wanted if I want it which caused me to lose any positive feelings about buying. You should never be rushed when buying a home. If it's a condo get a top floor no matter what. And if possible post-1980 so no lead or asbestos issues. I wish all real estate agents were like you; i.e. have the best interests of their clients in mind.
I lived on the bottom floor and loved it, but my upstairs neighbors rarely came. I think they must have been snowbirds because they were only there about a month a year.
@@peacefreedom4930 You seem to display a disturbing knowledge of your upstairs neighbor's sex life. You really need to stop listening to your neighbors with your ear to a glass pressed up against the ceiling. 😄
@@CloudiVist I think you need psychiatric treatment. What’s wrong with you?
In 2005 i was able to bough a house with m'y job. In 2024 with the same job i cant buy the same house.
Wow
Same but got my first house in 2009. Same house is unaffordable now 🤷🏼
My husband and I are in our early 40’s. We just sold our house and purchased another one in a different state . Job Relocation.
On both homes after re-walking the home several times. We would take time to drive the neighborhood at different times of the week and weekends. My Realtor even approached individuals doing yard work and what not.. asking about the area. My husband and realtor walked the house we bought. Four times. We asked a million questions, did enough math to make my
Brain explode but it’s worth it. Get a good Realtor too.
I bought 2 houses in my life. I suffered buyer’s remorse with both purchases, until a few years later. Both times, equity went through the roof in the first few years after purchase. I would have lost a lot if I waited.
Most can’t avoid HOA’s because counties won’t issue building permits without one. And if you do end up in an HOA and the board absconds with your dues, you are still responsible for making up what was stolen via special assessments and you have zero legal recourse.
Not all HOAs are irresponsible. I've lived in my "single family dwelling," for 19 years last month and still just pay $41 a month for HOA fees. The members of The Board are residents like myself. They don't want to be burdened with huge waste of their monthly fees, either. It's who you vote for. Some ppl, too many don't get involved with their community & leave it up to others to make decisions for them & only when things go awry and HOA fees skyrocket do they even bother to look up.
I also like knowing my neighbor can't park his truck on his front lawn or get rid of his weeds in his front yard using fire. HOA have rules and THAT'S A GOOD THING.
To me ,if you buy a single family home you better be handyman/women. If you don't wanna do anything you must pay....and pay you will!!.Me neighbors tree took my electrical line out in dead of winter. I had to drag out the generator to make it through the night. Electrician charged me $2000 to hook the power line back to my home. The neighbor went half with me...thank God
Oh my gosh! Good for you have good neighbors! Thanks for watching!
Your home insurance should have paid this not you then they would have got the other part from your neighbor.
@@patrickodonnell9388 not worth your home insurance dropping you for a $1000 charge, though. Especially after deductible
@@Katadori09actually the neighbor’s home insurance should pay it all, it was their tree. I wouldn’t pay a dime because of a neighbor’s neglect of upkeep
Your nieghbor's insurance should have covered that!
We talked to our neighbors before buying our home and it helped us make our decision. They were all wonderful people and knew a-lot about the history of the property as well as it use to be in their family. I suggest everyone try to meet their neighbors and check on the area Friday-Sunday.
Dont forget about those HOA fees that are shooting to the moon. Most new builds are HOA only and fees are anywhere from 300-800/month from rocketing insurances costs
Yup. They are getting our of control especially in Florida.
I bought a place on 5 acres out in the country. Distance makes for good neighbors!
It sure does!😳
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
Wow! That is crazy!
Great points. Boomer here. The problem with bad neighbors is you can never tell and, especially in a market like this (I bought in the sellers’ market of ‘99, wanted a 3BR but took a 2 BR because so many of them needed $50K of repairs/remodeling) - you always have to make some tradeoff. I was told by my home inspector and a male friend who looked at the home with me the next door neighbor’s many grandchildren would be a problem disrespecting me and my yard. They were right. Now I deal with the kid who inherited from her when she died. No relief. But you can get a bad neighbor anywhere, unfortunately.
I won't buy until prices come down significantly and there is no way in hell I'm renting. I will live in my vehicle.
Well that is a sad situation.
It's not a bad idea if your willing to endure it. I saved a lot of money doing g that. Now I have a house that is paid for.
@@JackieBaker It is even more sad living paycheck to paycheck never saving
I get it. One of my kids is in that situation. It's hard.@@bobsacamano7653
You must not date much!
I am 72 my wife of 19 years is 49. In August 2023 we sold our house on property she had lived on all her life and moved 10 minutes away into a brand new build. The reason is because we live in a high tourist area and where we lived we were becoming inundated with overnight rentals and cabin rentals. That 10 minute drive difference I mentioned sometimes or most time later was 20 minutes because of traffic. The road we lived on used to have no traffic and now massive traffic. We don’t regret buying our new home at all nor do we miss our old home which we completely renovate in 2017. Plus we came out very well on both the sell and purchase. Great video thanks.
So glad that all worked out for you. Thanks for watching!!
At age 72 it's good you don't have a mortgage.
I am a realtor and lost everything when the market crashed in 2007. I swore I'd never buy a home again. Fast forward to 2016, I decided to buy a little place with a $4,400 (3%) down payment. Market turned upward and I sold that in 2019, making a $20k profit. Market kept going up, so I decided to buy wrecks and fix them up. I lived in them while renovating so i had to move every year, but over the last 5 years I've turned that original $4400k into $125k. Lots of work and lots of moving, but well worth it. I'll probably do one or two more then stop. Market is still strong where I am and it beats paying rent. They key is buying low and you can only do that with wrecks.
That is amazing! Good for you!
*Realtor's have drove up house prices. I know, I've worked as a mortgage broker and seen it over 20 yrs ago. $30,000. Asking over price homes and greater. So here we are today. Thanks alot realtors.*
One time I was out doing yardwork when a family was with a realtor looking at my neighbor's house. She boldy walked over to me, leaving her realtor, and asked about the neighborhood. Since I was of a different race, I presumed she was wondering how I would feel about her living next door. Since that didn't bother me one bit, I honestly told her it's a great neighborhood and everyone is really supportive of each other, but you are going to hate A, B, and C. She said, I can deal with that. I just smiled. This lovely family, that I wouldn't trade for anything, are still complaining about A, B, and C - 10 years later. Lol.
44% of home sales went to private equity firms in Q4'23. New home buying is getting almost impossible.
THAT should be illegal!! Our politicians aren't hearing from us on this matter! Foreign investors are buying up properties and doing what previous speculators did in the lead up to 2008.
Private Equity Firms are screwing us in soooo many ways! They are taking down mom & pop small businesses and turning them into corporate profits centers where the customers get less choice and pay more. Dental offices, rental properties, beauty supply stores. Disgusting.
You nailed it, Jackie! I just dealt with a millennial buyer who fell into 75% of what your video discussed. Emotions were the driving factor. Keep up the great work!
Thanks so much!!
Wow paying over price, buying sight unseen. That is both crazy. Mold or another big issue, hell no. These people have lost their minds
This is what happens when inventory is too low. Not much to pick from.
Avoid high crime neighborhoods
I think the pressure people feel to buy a home by a certain age (or just in general) is a huge factor. As well as the widespread message that it’s BAD to not own a home.. and maybe even a personal failure if you don’t.
So, they buy houses they can’t afford or purchase homes with major problems or in undesirable areas
So true. Example: My grandmother would tell me that I deserve to have a new car and look good in it, but that's from a perspective of materialistic gain. I drove a 98 Toyota Camry and my coworkers and leadership would call it a "VBIED." But I could repair it and it got from A-Z. I'm with you; Don't buy unless you want and able to.
I feel that is my mom setting me down and show me how to do things the right way. I totally agree with you. Im Hispanic and our community needs people like you that really show you the real world of owning a property. Not the bs fantasy world our people sees every day. Thank you to have this type of video with integrity. You want to sell a house but only to the righ and prepare buyer.
Thank you so much! This is one of the best comments I've ever gotten! Truly appreciate it! Yes, I'm going to tell you how it is. No salesman tactics from me.
I always knock on The neighbors doors and ask them about the neighborhood and meet them before I buy a home very important. But like you said neighbors, and then bad neighbors move in. Hard to control that
As a 68yo living on my own all my life, I can tell you--you may know this already, that just meeting your neighbors isn't enough.
Many ppl aren't what they seem at first or at all, really. They show you what they want to show you. My point being that some ppl think they can trust or depend upon their neighbors and that is a common mistake!
Both fortunately and unfortunately, my neighbors all around me are miserable, unhappy and never bother to even say "hello." Atleast they are showing who they are so I can't say I'm disappointed later. 😂
My neighborhood just 10 years ago a house here was $500,000 now $1million or more everything is overpriced
Ugh.
When I bought my home, I did 100% financing but I had a $30,000 emergency fund. It took me 17 years to pay it off but now I am glad I bought it. Now I just have to pay the insurance and taxes.
That’s great!
I think the real problem is that the average first time home buyer has no clue on how much time it takes - or costs - to keep that pretty house looking good. They imagine sipping juleps but not mowing, edging, trimming. Stay in an apartment where all of that is part of your rent. Always a trade off.
OMG! These stats at the end explain why 90% regret their home purchase. NEVER EVER buy a home sight unseen. NEVER! And not a moldy house! GEEZ! You also need to see and feel the neighborhood. You aren't buying just a house. The neighborhood matters, too!
Jackie your video is great. You came with the facts as usual. Thanks for posting.
My pleasure! Thanks for watching!❤️
I feel blessed! Took me 39-years to buy a house but saved 20% down, got a 3% interest rate, paid slightly below market value, home has nearly doubled in value, my mortgage is only $1,300, and all I can say is THANK YOU PRESIDENT TRUMP and FJB!
Remember that your once nice neighborhood 20 years ago may turn into a bad neighborhood while people move around more than ever before.
That is a possibility. Thanks for watching!
Yes! I’m ready to move from my “nice”neighborhood. HOA started to let neighbors rent rooms and is a chaos now.
Correct! Air bnb type investors have ruined once good neighborhoods is one example.
@@samuelbaez4978 most HOAs won’t let you rent just a room, you have to rent the whole house .
HOA sux.
I love my house but the location is a mixed bag. The location allows easy access to amenities but it’s on a busy corner. It used to really bother me until I paid off the house. Once it was mine and I no longer had a mortgage, that annoyance sort of drifted away.
We bought in a location we didn’t like and luckily was able to sell it 1 year later. I moved in with my mother because we couldn’t find something else. Not buying anything until I absolutely want it without a doubt.
Good thing you were able to sell it! Glad you're staying put til you find the right house!
I did the buy at a bad location thing. No crime but small town is not friendly to outsiders. Biggest regrets
I'm so sorry to hear that.
Just do your own thing, ignore them. You will never be accepted. I bought new jeeps, trucks, come and go at will, vacation while they toil. They hate me, will never accept me as I am not one of them. And happily not a wanna be. There's so much more - just smile, live your life and leave the misery to itself. Your not there for that 😊 What city/state? maybe we're nearby
@@mr.b3591 Im in NY . Rhineback area. I pretty much do what you say. I don't mind them but I don't let my wife and kids run out by themselves. It's weird that I trust them in NYC more than out of nowhere
I am a X gen, immigrant and first time house buyer… after 2.5 years in our home, we cannot be happier with all points on your list
Please explain that renting is not always a bad option and not always "throwing away your money" if it is not the right time financially in your life for you to buy a home. Explain property tax, repairs, maintenance, any HOA fees, and insurance on top of mortgage cost.
Renting is not bad. I did a video a while back explaining renting vs buying ua-cam.com/video/MAo8LnwaBWE/v-deo.html
Renting is not ideal or preferred, but you cannot take it out of the context. In the world of today where the real estate system is pretty much rigged, the renting is way more safer and less hurting. Way cheaper too. I live in a family friendly neighbourhood, and all we spend is 18% of the family income, on housing. That's it. We can take our kids to restaurants, vacations, fun zones...etc. We literally don't have to tighten up on anything. But, if we BOUGHT a house right now, our life would turn upside down. We'd be frantically checking every single news thread, to make sure no global event threatens the economy. That ain't no life, that's a prison sentence.
Oh, and one more thing: that myth of OWNING a home instead of renting one. You own nothing! Try and skip a couple of monthly payments to the bank, and then you'll see who the real owner is!
My friendly advice to everyone: drop that idea of overstretching yourself and buying something that you cannot afford. If you want, buy a cabin in woods (with a few acres around), or a small town house where you can get away to every once in a while. Start working on your gardening, and slowly build your paradise. Kids will love it too! And use the city where you're renting (hopefully cheap) just to save money, and get that property out in the nature. Now, that's life! Use the city only for that!
Think! Turn on the brain! Don't follow the hypnotized herd!
@@NemijaWow! Brilliant response! Experiencing the same scenario renting and loving every moment of it. Absolutely no financial worries, no repairs and maintenance cost, dining out, traveling and living stress free! House poor is not for everyone- certainly not me! Also, saving and investing much more than I could when I owned a home.
@@Nemija IMHO...renting is freedom. It's easier to save money, do different things, and move if the neighborhood goes bad. Plus, when a person is on their death bed I don't think they will think owning a home was the most important thing to do in life.
I have done both renting and owning. I currently own two single family homes, but it is still expensive for repairs, maintenance, property tax, etc. I currently have a dead tree in the yard I need to cut down. It will be at least $1000 to have it cut down and add zero value to the property paying this money. Also, I need a new roof in the next 5 years, which will cost about $15000. I am happy to own, but you can build your own American dream renting and investing in the stock market. I know several millionaires who rent, because they want flexibility to move without having to sell and want to not worry about any repairs at all. They are free to go on vacation and not worry about the property, etc.
I’m a millennial and was lucky enough to buy my home December 2019 for $195k in Norcross, GA. My home is now valued at $325k. I do wish it was a better area with better schools but as my first home at 25 I don’t think was that bad
Sounds like you did great!
I bought a 1925 craftsman bungalow in 2008. The neighborhood was quiet then. Now, it has changed, but it will be paid off in 2.5 years. I'm securing it like Fort Knotts because any neighborhood can change with rentals in the area.
I bought at $17,000 in 1975 and now it's my retirement home and valued at $600,000. Regret? HELL NO! I guess I'm in the 10%.
Its people who bought a home in the pas t few years who have regrets.
80% of millennials and 60% of baby boomer would buy sight unseen. That's insane.
Right???
Lack of proper information and FOMO has caused a lot of millennials to purchase homes with a lot of unforeseen issues. Many of them are now seeing how financially crippling this can be if not done right! The dishonest realtor were having a field day with them. I guess some people have to learn the hard way!Sad!
great news for ppl who live near freeways, busy streets, etc.... photos dont capture noise.
Because they know that renting is stupid if you can buy for about the same monthly costs.
Gen-x confused with boomers. boomers are selling their homes, not buying them. but not enough are selling their "empty nests" to alleviate the housing shortage in SFH.
I wouldn't buy a car without driving it. Can't believe people would buy a house without walking through it!
Oh there were a LOT of people who did that!
And a home inspection!
I must be in the 10% cause I love my home. Bought my home 4 years ago. Spent 25 years paying rent,dealing with smug landlords,making them more money.
Ditto that!! Payed my mom rent to live with her while working and in school full time, and I couldn't wait to get the heck out!! Bought a condo which was a good starter home, but the noise drove me crazy!!! Bought a SFH in 2016 and have no regrats, it costs me bunches of money for improvements and repairs at times, but better than paying someone else's mortgage or dealing with shared walls in a "low maintenance" condo!
Why did you watch this video and decided to comment. This video is for people like me who wish they were rich to buy whatever they want.
@@jimmyheights5143 And decide to comment? I can comment on whatever TF I want to comment on.
You don't get rich by "wishing" you get rich by working your ass off! @@jimmyheights5143
@@jimmyheights5143 😂
bad neighbors: This is why I like wide lots and high fences.
Because the actual cost of owning a home over a human life span is double what u paid for it. Interest, insurance, repairs, renovations….it never ends!! If you like having a mile long to do list every weekend then buy yourself a big fancy pad.
I have two houses. One is a patio home in the suburbs. The other is in a town 2 hours away with 20 acres of woodland and a pond. I spend way more on doing work there than my primary residence. Seems like every time I go there something new is broken - the pond needs work, trails need to be cleared, pipe ruptured, etc.
I definitely feel the pain at tax time, insurance policy renewals, etc.
It's my one indulgence.
It’s funny that you mentioned about location and neighbors. I have never been in the market to buy a house but I always think about those two things being the biggest deal. I want to be able to sell my house and not have to worry about the past mistake of where I purchased the house and who lives around me. It’s always got to be in a desirable location and not on a fork. Neighbors can be tricky, especially if someone else sells the house after you’ve moved in but you can still get a good sense of what goes on in the neighborhood a bit.
Very true! Thanks for watching!
The old women in my neighborhood are cliquish and act like a bunch of high school girls. I never thought older women would act like this.
Buying a home you will always always wonder when the new neighbors move in and the old neighbors move out. Will your new neighbors be respectful of their neighbors and the neighborhood?🤔
It's a crap shoot for sure.
Most likely no, in my experience. Selfishness seems to be the norm now.
this was so easy to follow - the cut-ins / gifs were hilarious!
Glad you liked it!
Thank you Mrs Baker. I will definitely take into consideration when Im ready to purchase a home in the future.🙂
Glad this helped
I bought a house on Bergen Street in Newark because Baraka recommended the neighborhood. I regret not moving to Old Tappan. Lol
I'm living out of an Airbnb looking for a good house somewhere near Nashville. I pay less than renting an apartment and signing a long lease. I also work remotely and can travel wherever. I also stay at my family's cottage in May-Nov. So I'm always going to be picky when it comes to a house. So I'll call up whoever is in charge of the house and try and lower the price to something that isn't a wish list. So far it's a lot of tiny homes that are 250k.
Nice how do your kids like the inconsistency
@@argeldelacruz9545 don't have any. I'm going to get a house when I want where I want. I'm not going to over pay so a boomer or blackcock can buy another house and do it over again. Time to realize that they over paid. Now suffer.
At least you have some affordable options right now as far as renting and staying with family. Keep socking that money away!
Good luck trying to buy a home for 250k in Nashville.
Did they say they had kids? I didnt read that. Y dont u reread that?
I'm an engineer. I bought my house in 1999. I lost my job withing 2 months and had to find roommates. The renters who moved in were not able to keep jobs either. It's been a long and rocky road but I managed to hold on to it. Almost lost it many times.
Indeed - but with soaring rental prices what to do, and one has nothing to show for it in the end.
You raise some excellent points👍
I live in one of the largest 6th metropolitan cities in the US and not only have rental prices dropped significantly over the last couple years so have the homes prices
I was a homeowner almost 20 years ago and had to sell it when my occupation got offshored back then... I got lucky and sold it before the bubble burst... Since then, I have never taken such a chance again, choosing instead to make myself lean over the years, just by seeing the writing on the walls.. My credit is clean and untouched, and I live as minimalist as possible these days... I've never been married, nor have brought any children into this world, so that helps tremendously as well! The less you have, the less the government is apt to clean you out!
Sounds like you figured it all out! Good for you!
@@JackieBaker - With all these tax breaks, and the pandemic costs, and the funding of big business losses, the foriegn war aid, and lest we forget that unsustainable student loan debt, the Government is extremely cash-strapped, and any excess you have that they can get their hands on - is gone in a fortnight, so I took the advice of a few people, turned my back on the Joneses (and the Kardashians LOL), and learned to live minimalist! Don't hoard it or even try to hide it, 'cos the government will find it and come after you for a chunk of it! Liquefy it and use it for base expenditures, such as refurbished phones, computers, used furniture, used cars, etc... Pay it in cash and keep it minimal!
Smart decision not having debts and timing the sale!!
I definitely agree with this!!! I 1000% regret buying here in Forida...........
I’m sorry 😩
Tell us why?
Is it cost of living or maybe taxes. ??
You heard how much it costs to insure your house in FL now, and pay taxes on it? Or about job market unless you're established 6-digit professional?
Cough cough.. try California..
Mrs Jackie I seriously wish I had found your channel this time last year. You hit on so many things that I wish someone would have talked to me about.
Well you're here now! Hope I continue to answer any questions you have.
Only real-estate and loan people and the media always say rates are coming down. when they've been doing nothing but going up.
Don't really think people regret for these reasons. Its more so when you sell in 20-30 years, after all taxes, repairs, upgrades you wont even break even at this point. People who bought in 90s to 2005 5x'd there value
people who bought in 2011 5x their value
I bought in 2003 and my value today hasn't even kept up with inflation. 2003 was too close to the peak.
@@FreedomTalkMedia depends where obviously. in the NE you would be up a fortune
I purchased my home in 2022. I got lucky. The previous owner of my home was a cat lady and smoker. Because people didn't like the smell, we were able to purchase the home for a reasonable price. New carpets and a couple coats of paint later, we're very happy with our home.
The only thing that pisses me off is the intetest rate we've been locked into. I have excellent credit, so I will be able to refinance, but We'll have to wait for TRUMP to fix interest rates.
People are struggling. The banks should be lowering rates, not raising them. The elite 1% want every crumb. They won't be happy until every home is foreclosed on and people are homeless.
tRump is a loser.
I always enjoy your perspective
Jackie, you're doing a great job and giving out very timely and good information. First time watching and just subscribed to your channel.
Thanks so much! Appreciate you being here!
Most people chase what's hot. Be fearful when others are greedy or have FOMO.
Fomo?? What's that mean?
Fear of missing out
I've payed $ 280K for a 2 flat in Chicago in 2012, that i gut rehabbed and make it 3 Flat........it cost me $370K , over the course of 8 years...100K more then what i payed for the building......people that buy this old homes...don't realize how much it costs to Renovate, and Repair......!!!! Mortgage is just a Small part of owning a home...!!!
It's so true!
Regret buying it, regret not able to win a bit to buy it, regret having to deal with maintenance, regret not having a home when others do, regret...regret...regret... This is the illness of modern day people. People no longer appreciate what they already have, and always think the grass is greener elsewhere!
Someone will buy any home for the right price bad location or not. You just need to make sure you get the right price
My AC system went out last year during the hottest part of the Summer. It was pricey to replace.
That is one of the most expensive things to replace in a home.
I bought in 2021 made several offers ended up in a perfect house 25K under asking with seller assist! Interest rate is 3.5%
Same thing except I didn’t get a fixed rate.. 😢
Good for you!
Very well done Video Jackie .. from a realtor to another
Thank you so much! I appreciate that!
I just bought a my first home in January '24. It was an estate sale and was on the market for 80+ days. It needs work, mortgage is at 6.6%, applying for Homestead Act in October to bring down the tax rate, and now I have to rebuild my savings because I did get a bit carried away. All in all, I would say I'm blessed and well off. I would love for this home I'm in to be on 3-5 acres of land in the country but I'm completely content where I'm at. I did the research prior to buying and applied my trades' view/skills and common sense when looking at homes.
This video should be seen by any, veteran and first time homebuyers, because it retains valuable information. Watching this video is just another affirmation that by God's grace I made a good decision.