He REGRETS Buying a House and Wants Out After 10 Months
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- Опубліковано 17 чер 2024
- Can you imagine regretting buying your house so much that you want to sell it after only 10 months? One man feels that way and it just makes me so sad. The state of our housing market the past few years has put so much pressure on people to just get the house that they haven’t had time to really process what they are getting themselves into.
In this video I’m going to share some stories from Reddit of people who purchased homes but now regret it. One in particular wants to sell their home after only 10 months. I’m going to share my opinion on the the things they complained about and what I think they could have done differently.
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Jacqueline "Jackie" Baker
NJ License 1541448
Coldwell Banker Realty
Allendale/Saddle River
#realestate #jackiebakerrealtor #jackiebakersellsnj #homebuyingtips #homesellingtips #realestateinvesting
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The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
@@LucasBenjamin-hv7sk Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Annette Marie Holt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
These are the buyers that contributed to the nationwide problem of overpriced homes and overall inflation.
Lol fr
Blackrock and house flippers and airbnb people are the reason
Everything is over priced.
Yep, so many dumb people who are terrible with money. That’s the reason everything is overpriced.
@@ralphpal key word, "contributed...."
People are desperate to just get a house they overlook major red flags.
Do you blame them? Look at the shit show my generation is dealing with
I am yet to meet a real estate agent that would talk me out of buying anything. The agents I met were all like: “There is a lot of interest in this property. Just today they received 5 more offers. If you are serious than make your offer ASAP, better right now. The market is really hot. This deal will go away. They just received 2 more offers. No pressure, but how much are you thinking to offer over asking?”
I HATE that!
You have to do your own research and know your market. Don’t blindly trust someone who gets paid more directly relational to how much you spend. My realtor got upset when I made her put in many low ball offers until one was finally accepted this year.
Sounds like they were spending their commission in their head while trying to judge if they were going to get any upgrades on that new car😂
I bought my house in a very competitive market. It was an estate, needed tons of work and had been sitting for months in a very hot market. When I submitted my offer the seller’s agent claimed to have magically just received 2 other offers. I told her to take one then. They accepted my offer, unchanged.
@@jpc54 I’m in a tanking market. I offered on a house that had sat for 307 days with 125k in price drops. They “received” more offers the day we offered as well lmaoooo. It was an investment company who lost money since when they bought in 2022.
Never buy a house you won't keep for 10 years.
Never say never
I didn’t wanna be in mine more than 10, but now it’s 15. Value increased 3x. Paid off. Absolutely can’t imagine paying $7k mortgage for a sidegrade, so I am probs gunna die here 😅
@@nokateno and if you sold before year 3 it would been a loss. wow 3x is insane!!!
Girl please, I have owned 7 houses now and 2 condos. I didn't own any one of them 10 years.
I'll be in my house until I die. My mortgage interest rate is 2.5%.
People who overpay will tend to hate the house’s flaws because they are emotional. Whereas, the logical person controls his/her emotions and buys within means and knows the key points of contention. People need to self reflect and stop making emotional decisions.
100%
Couldn't agree with you more!
The agent just want money . They are not going to tell you all the cons
I am so grateful for my house after watching these videos. My husband and I at age 24 bought our first house from a 74 year old man. It's only 1100 sq ft and original 1982 build with all features well preserved with a few minor updates here and there. It was structurally well maintained and everything still works. It's just outdated. I didn't wanna buy it only for that reason. 2 years later and a little elbow grease and we ADORE the little place and we're extra grateful to our seller going through and making ALL the minor repairs that popped up during inspection and left brand new towels, hand soap and cleaning supplies in both bathrooms. I thought it was an aesthetic dud but the conditions that we bought under were objectively great. We also bought 20k under our budget so we have Sooooo much wiggle room. Love our neighbors, love the safety and convenience of the area. Low utility costs due to the size and easy maintenance
I read it on Reddit and now regret it.
Lol bars
Paying $700k and spending $100k for renovations? For a single person with no kids. I do not comprehend.
Yeah i was only able to fix the roof/electricity because of my mother.
What is her job? Wow!
This is the Jackie Baker Brought and Bought my ass show -$*@%.
Totally with you on this one. Why single people buy SFH I will never understand.
Edit: she’s probably in a good school district too.
She's trying to be a DIY Flipper.
I bought a single family home in June 2018 and sold it one year later. I did not realize until after moving in that I had a dangerous blind driveway off a busy road. Every time I pulled in and out of the driveway I said a prayer. Thankfully when I sold I broke even financially. You need to keep emotions out of the home buying process. I was so enamored with the house itself I overlooked the road noise, blind driveway and shitty topography of my two acre lot.
You got out just in time a lot of these people will be stuck like chuck the market is changing fast
Buying a home in america is just toxic. You can never feel at ease for a huge portion of your life. The property taxes are always increasing. You can't seem to trust anyone and not helpful in the way people should. You have to know the right questions to get answers instead of people actually sharing information that helps you.
That’s by design. They don’t want us to own land or homes, have stable incomes, have families, access to transportation, etc.
Sad to see so many people who got caught up in the mania and thought they needed a house no matter what the price. What a horrible feeling to know that you are stuck in a house you don't like and most likely will sell at a loss. A great agent is a must but sadly , there aren't that many around.
Buyer’s remorse happens a lot, though. I had buyer’s remorse a couple of times since I bought my house 20 years ago but at heart I love it even though it picks my pocket.
Road noise? Suck it up. My house is about 800 feet from railroad tracks and is less than two miles from an airport runway. After eight years of being in my home, I don't notice it's even there. Actually, it's kind of soothing at times.
I said the same, I was in a similar situation in an apartment.
I grew up on the far south side of Chicago, then moved to Lincoln Park and then Northwest suburbs 2 miles from OHare. I have spent my entire life with noise. I don’t think I notice anything other than silence. For me that drives me crazy.
The issue isn't just the noise, as I understand--it's about the particulates that busy roads produce.
I lived a year in an apartment with my bed within 30 feet of major east-west railroad line. After a month, I stopped noticing it.
Meh. Kinda toxic aren't you? If he doesn't like it. He should move. Life is too short.
This is perfect timing. I’ve been thinking about a beautiful house for sale in our dream neighborhood … but it backs up next a busy road. I’ll take this as my wake up call to let it go.
Yeah. That’s an easy no. Just move on. Too bad, though.
This year is going to be worse than the last, no doubt about it. Due to poor investment decisions that I would not have made if I hadn't been so concerned about my portfolio, I lost a significant amount of money last year. I continued to invest, but I was undecided about whether to begin making house payments. I eventually sold my jobs, and the house required more work than I had anticipated. I'm not sure how much longer I can continue in this manner
We've all made mistakes at some point. You should consider financial planning
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
Do you mind sharing your financial planner?
Leah Foster Alderman
You are most likely to find more info when you look her up
To anyone struggling with some highway noise, try to consider it as white noise. I’ve had some of the noisiest, rudest, most inconsiderate neighbors.
I TOTALLY agree. I wonder if this guy got stressed out about the road noise right away and never developed a tolerance. I bought a home on a busy street, close to the road, knowing this would be the case. In a surprisingly short period of time I became so accustomed I didn't even hear the road noise. This person seems like they just "want it all" and I wonder if there would not be some nagging problem in any house they buy. I can't imagine that a constantly barking dog or loud music would be better than road noise.
I used to have a train pass my apartment every night and at certain times of the day. It was oddly comforting! Lol
This is the Jackie Baker Brought and Bought my ass show -$*@%.
As someone with tinnitus that would actually be a dream.
We have a ton of jet noise in Seattle. Even the old money super fancy hoods have jet noise. It’s life.
Ms. Baker this is such an important video to educate future buyers. In the last 2 years of fomo buying there were buyers who bought "sight unseen" 😮. They were regular people buying these homes, not corporate conpanies. I can only imagine the regrets some of them may have now.
I'm glad you found this helpful!! Just want to educate buyers.
Some buyers are ridiculous. They watch too much HGTV. I had a buyer complain about the color of the carpet in the basement. So, buy whatever color you want and replace it. I had buyers complain about a tree in the front yard.
YIKES!! This video is making me grateful for my house, I have loved it since the day I saw it during my showing with my agent, and almost 8 years later, I still love it!! ❤ Scary how much people are paying for homes that need work, and rushing into the decision, because they have to or they won't get a house!
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Her name is “ TERRI ANNETTE MOORE ” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
I've had my starter house now for over 10 years and because I live in the city, the road it just 15 feet from my front door. It's a relatively quiet block without hardly any street traffic. Yeah, I get the occasional speeder and loud car stereo you can hear for miles, but I'm done with my house too. When I first moved around here, my packages would be delivered while I was at work and they would stay on the porch all day until I arrived home. Not any more. I've had packages stolen within 10 minutes of them being delivered. The area has gotten worse. It isn't because of traffic noise that I hate opening my front window, it's the smell of weed nonstop that stinks up my entire house. I'm ready to leave the city and head out for greener pastures far away from people.
Many years ago, my brother and sister-in-law bought a house in the Philadelphia area that was beautiful, with a nice yard and heavily wooded areas all around. No highways or busy roads nearby. It was only after they moved in that they learned that there was a shooting range somewhere beyond their backyard. Not very close, but you could hear shots all day long, and they hated it. Needless to say, they didn't stay long.
No. He needs to sell it and sell it fast. The market might go in reverse and he might have trouble selling it then. The noise issue will never go away and it will take a toll on his mental health. I held onto my House of Horrors for over 2 years. It was quiet at first due to covid. So, you learn and move on quickly. Don't waste precious time.
Truth
I agree, cut your losses and move on.
I agree!
1st apartment after moving to Brooklyn. 1st night realized the Fire House was a block and 1/2 away. 😂 I got used to it.
Oh wow! Glad you got used to it!
It blows me away when I see what people are paying for homes right now. Especially considering the interest rates. Either the price or the rates have to drop before anyone should consider buying. We could not begin to afford our home that we bought in 2015, if we had to buy it today. It has literally doubled in price and interest rates.
I bought my first house in mid-2022 and I also deeply regret it. My agent was also the seller's agent (NEVER AGAIN! I don't care how much they claim they'll be "neutral") and I feel he only cared about his commission. The inspector said I had at least 5 years on the roof and there were no visible issues. Less than two years after buying, my insurer puts a non-renewal on my policy, forcing me to replace the roof immediately. Once the roofers got the shingles off, they saw that all of the plywood needed replacing and over 20 trusses needed repairs. If my insurer can see bows and waves in the roof from aerial photography, how the hell did the inspector miss this? Wound up with an unplanned expense of $23,000 that who knows how much it'll be by the time I've paid it off with interest.
The furnace was over 30 years old and that was also not mentioned in the inspection. Inspection report said none of the outlets were grounded, so I called an electrician who charged me $250 just to come out and only one outlet wasn't grounded. But no mention at all of the outlet in the garage or the outside outlet with grounding pins broken off in them.
But the agent... He told me a mold problem in the bathroom was no big deal and only superficial because the current owners were apparently morons who never ran the fan, so all of the trim in the bathroom had discoloration from mold stains. Galvanized pipes he also told me were no big deal, but I had trouble finding insurance because of them. Told me to "just get a mini-split, it'll cost you maybe $5,000 if you do it in the winter", but that was incorrect and also not a great option for the house. Wound up replacing the furnace and having AC installed, costing $18,000, but that works for the whole house and the mini-split was going to cost me $12,000.
Then there's the yard... Oh my god, the yard. One of the first things I told him I was looking for was a low-maintenance yard with nice grass, because one thing I missed from my childhood home was walking barefoot in the grass. This home had no grass because a previous owner decided to blanket the yard in 6" of wood chips. No, I don't mean like mulch. I mean arborist chips that brought lots of volunteers and invasive weeds with them. So I have blackberries, horsetail, several kinds of ivy, holly, a handful of volunteer trees and myriad other weeds. Not to mention the bugs that were thriving in them, of particular note were the carpenter ants that made their way into the house. Agent told me to pay some high schoolers a hundred bucks and they'd have most of it cleaned up in a weekend. I knew that was BS, but I wasn't expecting the estimate to get the yard back to grass would be $37,500.
I'm fine with the location and the neighborhood is great with one unfortunate exception that tends to ruin everything: inconsiderate dog owners. There's a handful of people with loud, shrill dogs that let them sit in the yard and bark bark bark their brains out. I've tried talking to them and a few were really lovely about it and just didn't know their dogs were bothering anyone, but there are still several who don't care and local services have been of no help. I hate that the first thing I hear in the morning and last thing I hear at night is barking. I just want to enjoy some peace and quiet.
Although I'm frustrated with the agent and inspector, I'm mainly mad at myself because I wish I had been better informed and more pushy about having my concerns addressed. Mortgage rates were starting to climb just as my lease was coming up, so I felt like I was in a hurry; that it was now or never. It didn't help that I'm single and was struggling to compete with people who could make huge cash offers and go $50K+ over asking. The market was so hot that offers were being reviewed just a few days after listing and sometimes they wouldn't even make it to that date because someone made an offer so outlandish it was immediately accepted. I think it's insane that we're expected to make a purchase of such significance under conditions like this.
The market where I'm at has declined a bit over the past few years, so I might be able to sell it for close to what I paid for it, but would be taking a huge loss between fees and the money I've had to sink into the place. This place was never meant to be my forever home, but it wasn't supposed to be a nightmare either. Because of all this, I'm probably going to wind up being here a lot longer than I wanted to be, but I've learned a lot (and still am learning) so hope to go into the next round better prepared and come out with no regrets.
This is the Jackie Baker Brought and Bought my ass show -$*@%.
@bluebell459 I'm so sorry you had that experience. Working with the sellers agent can work out sometimes but most cases the buyers feel they weren't properly represented. Buying a house does have some risks. I would hang on to the house for a bit, especially because there is such low inventory right now. You'll be in the same position like you were when you bought your current house. Focus on making it your home and try to enjoy the positive things you like about it.
you didn't ask the owner for receipts or information of how old the roof is? how old the HVAC is? the age of the water heater? what updates have been done to the plumbing or electrical? that's just common sense. you would have been better off renting. you're not any where close to being ready to being a home owner.
@@connor_flanigan I asked, that doesn't mean they had that information. Most of the homes I looked at didn't. And they didn't need to in order to swiftly sell at well over asking either.
@@JackieBaker Thanks, I'm trying to! I'm sure I'll be asking for an agent recommendation 5-10 years down the road when I'm ready to sell! 😊
It’s amazing that people spend less than hour on the biggest purchase of their life. The realtors also act as you should make a decision within 30 minutes.
The last house I lived in had a complaint from a potential buyer when it was shown by my Realtor. My Realtor told me that when the lady was standing in the middle of the back yard she could hear a few cars driving by. My wife and I lived in that house for18 years. Traffic noise was NOT an issue. Cicadas in rural areas are much louder than traffic! I-540 is about to open near my house. It's less than a mile away and it's possible that we'll hear some traffic noise after that section opens. However, buyers love homes where I-540 is easily accessible so they can navigate around the Triangle.
it depends on the level of traffic noise
Not your house … next !
I sold my house after my kids finished college to downsize. A young couple (in their early 30’s) with two toddlers bought it and took out a $720 mortgage!!!!!!!!!!!! I could not believe it.
Why would anyone buy a home without HVAC? I am looking for a home now and I see some that have window air conditioners and I just click right off that home. IDC how nice the home is when ya don’t have HVAC.
Same, had to get the hvac guy come out to fix it recently,but ive had the house for 3 or 4 years without issue, just need the ac to work until i can afford ductless so im not cooling the entire house so im not dying from heat.
Same, we live in SW Oklahoma, about 2 hrs SE of Amarillo Texas, HVAC IS A MUST!
Install it
I live in upstate New York. I don’t really feel like I need HVAC. It would be great, but not worth it when I could just install ceiling fans. We have short summers here and we do get very hot days, but not many.
Don't buy in areas where there are stadiums, state fairs, etc - unless you like selling parking spaces on your front lawn.
I bought my house twenty five years ago to Live In And spend the rest of my life in with the intention of willing it to my only grandson!!! But, I do struggle with the increases every year on my property taxes!!! I just quit the homeowners insurance because it jacked up beyond my ability to pay!!! I've also quit driving because paying insurance, maintence and gas just to go to my grocery store twice a month was insane to me!!!
Young people's expectations are so much higher than 10-20 years ago. What is now referred to as a starter home is more akin to what their parents were expecting to own by the time they retired.
I’m seeing a lot of homes purchased from 2019-2023 on the market and they aren’t selling. People got all in a frenzy and overpaid for these homes. The old FOMO got a hold of them.
I don't mind traffic noise... But there was a beautiful house in Philli that was perfect, EXCEPT it was literally 20 feet from a train track. I was one of those buyers fantasizing about how to soundproof the "backyard"....my grandmother looked at me and just said... "you are looking for your forever home.....NEXT!"🤣🤣🤣🤣🤣
Don't know how many bathrooms but re-piping an entire house could be $40k or so. Don't hire the "cheap" company or you will regret it.
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
How can people address concerns about their property values?❤❤❤
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
I bought and sold two houses pre-pandemic. Within a year, I was unhappy with each. Nothing was wrong with either one. I just don't like being stuck in one place for more than a few years or the home maintenance (expected and unexpected). And knowing how much interest I'd pay over the lifetime of the loans made me ill (I cannot imagine what the total interest would be now with mortgage rates so high!). So, I sold both after renting them out and owning for a few years. Who knows if I'll ever own another home. I prefer having more liquid investments. I hope to slow travel the world when I retire in a few years vs staying in one house/place and paying a huge mortgage.
Every day I drive past 5 new homes being built at our next to 6175 Waldo Ave, Sterling Heights, MI. It blows my mind. These houses aren't 200 feet from M59 and dobry drive. M59 at that point is 70mph and is a 6 lane highway, dobry is a 4 lane highway on either side. These 5 houses being built are beautiful brick colonials of around 3500sqft or more. In our market that's probably an $800k house. The lot these houses are on is barely larger than the footprint of the houses (maybe 7000sqft lots). They aren't even side-by-side. 2 of the 5 are in the "back yard" of the other 3.
I don't know who would/did buy these houses. The traffic noise of 10 lanes of traffic within 200 feet must be maddening. Being brick, I'm sure it's quiet in the house. But you would never be able to open enjoy time outside or even open your windows.
I've looked at houses 4 lane roads with moderate 50mph traffic, and the noise was so loud we had to yell at our realtor just to be heard over the traffic noise. This is 10 lanes and 6 are 20mph faster.
My neighbors old air conditioner is loud. HOA says it’s my problem. They are on the roof of every home. Also the golf course lawn mower at six am is the size of a small house and wakes me up. Also HOA says not our problem and move.Hate my casita. Morons are still paying $300,000. Can’t afford to move. You don’t know these things unless you live in it. Also for gosh sakes don’t buy a home in Phoenix with a bedroom above a garage. Also apartment. No way of cooling it off enough.
I dont even blame the agent. These bad purchases fall entirely on the buyer. When you spending that kind of money you have to do your own do diligence on everything involved
I made the same mistake. Bought next to a freeway and it didn't bother me initially. By month 6 it drove me crazy. I sold and it took me 4 stressful months. It was a new build and I had over 40 showings. Ended up taking a 20k loss. Don't buy next to a nuisance.
Nobody wants to live near traffic, but who's willing to give up driving?
I feel for the homeowners that buy along busy roads! My rental house is on a busy road as well where I cannot go 10 seconds without hearing cars. So glad I have had this experience to set firm boundaries when I’m ready to buy! I’m so ready to feel sane with windows open. You don’t realize how many folks have insanely loud vehicles that easily trigger restlessness and irritability.
What if you had neighbors whose dog barked constantly? Would that be less upsetting?
I suspect more rental homes are on busier streets (or corner lots). The owner may not want to live there, but they’ll rent to someone else.
@@Armond2013 good question, possibly. Hopefully I would try to swing by a couple times prior to making a firm decision, but there’s only so much you can control.
@@wednesdaytheblackcat7385 Interesting, you are probably correct in your hunch!
New subscriber here. We lived in Morris County, NJ for 40 years and we moved in 2021 to Amelia Island, FL and I love it here. My wife was diagnosed with Alzheimer's in 2015. Thanks for the videos, I really enjoy your channel.
God bless your wife and your family.
This is the Jackie Baker Brought and Bought my ass show -$*@%.
Thank you so much. I hear Amelia Island is beautiful! So sorry about your wife's diagnosis. I know that is not easy to deal with. I had a family member who had Alzheimer's. Very tough.
Even in the crazy market I have a list of things I want in a house that I refuse to budge on.
It's not just road noise; it's also road pollution. If you want to avoid that you should be at least a mile from any major roads. I used to live right next to a highway, but got used to it. Indoors the sound was muffled well, but outside...especially when it was raining: Woooshh! I sold because neighbors from hell moved in upstairs--goes to your rule of don't buy a condo, but otherwise get a top floor. Now I live right at the lake and the sounds are birds and waves.
Its awesome you read whole post. Great deal of youtubers skip over stuff when reading posts. Ill never be able to buy a house but enjoy your channel. God bless.
Thank you so much for watching! And don't give up hope about a house. You never know!
@@JackieBaker I feel the same way.
After a year of searching, I'm starting to realize this may not be in the cards.
My coworkers keep telling me don't give up.
I may just end up buying a plot of land (and doing what with it. I don't know). Or nothing at all and just renting for the rest of my life. I'm single in my 40s by the way. Yeah, I know I'm late to the party. Should've thought about this in my 20s, but I was too dumb to realize the benefit of home ownership for retirement.
Looked at 3 or 4 homes recently and only 1 looked in good shape the other 3 had the space but no upgrades in the houses. Can't pay all that money and still pay for upgrades no way
I appreciate your reminders for those who are in the market. They are common sense tips to keep in mind and a reminder to do your research. Thank you. Buyers wants, dreams and emotions can be like blinders.
Absolutely!
Great, highly relevant case studies. As a person sensitive to noise, and as a former tenant of a house with problems, I learned a lot from this video.
I live in the city limits of Dallas. Here many houses are near busy roads, million dollar houses. I always thought as you did about busy roads. Doesn’t seem to matter here. We actually bought a house near a busy road, can’t see it but can hear it in the backyard. Maybe because we are old and our hearing isn’t the best but we still enjoy sitting in the yard. Never did I think I would say that! Early mornings are very quiet as is later at night. But mosquitoes keep us inside at night. I still think if our house backed up to the street or we could see the cars it would have been a dealbreaker.
The buyers remorse people never think about the big picture. Road noise etc. Most agents want you to buy the first house you look at from my experience.
He should be regretting buying ANY house! This is the WORST time to buy a house. Currency bubble will be worse than 2000 & 2008.
currency bubble?
Outside of a few area with crazy inventory higher than pre-pandemic, that is speculative unless you think we will have a massive depression. It can happen for sure, and no one has a crystal ball, both the bears and the bulls. Overall, I would predict lower growth nationally and nothing close to covid growth, but probably not massive losses unless something big and negative happens. Certain area will go down for sure.
Good video Jackie but so many people are soooo ignorant and I hate to say it, DUMB! We looked at houses befor buying and went back at night and just sat outside to see how the neighborhood is , noise etc etc etc... cant be Lazy !
Thanks for watching! Problem with this market the past few years is the mad rush. People were rushed with their purchase.
I love our house but have buyer's remorse. I wish we could pick it up and put it in another neighborhood because I truly wanted this to be my forever home. Some of the people in my neighborhood seems to be a bunch of hippies who don't maintain their properties. The HOA isn't active so they have junk cars in their yard, overgrown grass and it bothers the crap out of me. I will never purchase a home that's not in an active HOA. People don't want to live in HOA neighborhoods but unless I'm in the country with no neighbors, I'm not buying in a neighborhood without one again. It's ridiculous that grown ass people need a board telling them to take care of their property.
Oh wow that is so frustrating. I know what it's like to live next to crappy neighbors. Went through that 15 years ago.
I think people’s obsession with manicured grass is silly. Imagine if we were to face a real problem, like um hmmm maybe a world war? Would the condition of the grass next to you alter your mood for the day? Just another sign of people being board and spoiled
I live in a small neighborhood with working class people and a grade school a block away. We work man it may take me a few days to tidy it up around here.
I have been back and forth about listing the house I bought July 2023. Great house and neighborhood. Moved bc of family situations and wanting to go back to Florida. Really regretting leaving there but ultimately decided to wait it out for another year for multiple reasons. I love my house, Ive made it even better but one of the reasons I bought this particular house was because I thought I could Airbnb the basement and it turns out it will be challenging and costly to get a bathroom put in down there (my realtor told me it should be easy). I’m told I could sell quickly but I overpaid bc that’s what buying was like a year ago so I’d be lucky to break even. It seems sellers are NOT getting asking price anymore and are having houses sit on the market longer and having to drop the price.
I have toured a house which checks many of my boxes except that it is by a highway (about 30ft from the lot). Even though there is a high fence, trees, and a street separating the property from the highway, the level of noise is still noticeable especially when just a single window is open. I am glad that I did not make an offer. I noticed later that the house went pending, which was then released more than one month later.
That's a good point, renovations you make are made to your taste and needs.
I bought my house 3 years ago I never thought of asking about how old the plumbing is . I wish I seen this video 4 years ago
My moms best friend sold real estate in early 70s before the insane gotta have a mansion real estate greed took off. It blows my mind the mansions they build now with maybee 4 at most live in. So many are getting in on the real estate equity game its so hard for an average person to afford to buy... even apartment rentals are insanely over priced. Dont need to be an economy pro or make an A in math class to easily see a big crash is coming. Everything homes cars food has gone up 30 percent at least last 4 yrars. A bad recession crash is only way i see it get correctrd..
Do you think the realtor actually cares? That’s funny. Yes there are some good realtors out there. Most of them don’t give a rats butt. They want their money. So they want you to buy that house and move on.
How can anyone not notice the road noise? How about planting bushes, trees, and a masonry wall?
I've gotta tell you what a relief it is to hear that you know and can recommend realtors around the country. You're the only realtor I've heard of that has talked someone out of a bad house, and that really builds trust. If the market ever crashes and I can even consider looking in the general direction of a home, I might take you up on your offer for realtor recommendations
Feel free to reach out!
My mother said, she wouldn't buy a corner house or on a busy street. I did have a corner house, and didn't like it.
Our starter house had a utility pole in the back yard. We never considered the pole itself it to be a problem. It did however have a transformer mounted on top. One hot summer during peak electric demand the transformer overheated. It was dripping hot oil and getting discolored. Eventually it popped causing a power outage. Also when we first moved into the house the street saw quite a bit of residential traffic. After a few years with new adjacent development the traffic patterns changed and the amount of traffic was reduced significantly. Twenty years ago we left that place for something newer and slightly bigger. The old place had curbs and no sidewalks. The new place has sidewalks and no curbs. Everything is a compromise.
That house your talking about with the road noise has to have been in Chester, NJ! My fiance was OBSESSED with that house and I loved the inside too… and the beautiful wrap around porch just to hear 202… I was a hard no and he was upset with me for a little bit but then everyone told him he was crazy to have 202 in the backyard and now is on board with a quiet neighborhood 😂
I lived right off Federal highway in Ft Lauderdale. You get used to traffic noise.
Their fault for buying way over asking, not getting appraisals, not getting inspections, not doing their homework before buying., not riding through areas seeing how traffic is, who's out and when especially at night, weekends, holidays, not checking police depts and seeing what crimes are they getting calls for and the amount. Bought my house at a great price and a great rate , not on a busy highway.
Pollution is also a big issue being near a busy road!!
We had the house we live in custom built 22 years ago. It’s a zero lot line community. The HOA is responsible for all exterior lawn & shrubbery maintenance as well as the maintenance for the community pool. Our HOA fee is $123.00 per month.
Our home has more than doubled in value. It isn’t for sale but we routinely get inquiries and even offers on a regular basis. Homes for sale in our community rarely are on the market for more than 30 days and often sell for more than the asking price.
Our next residence will be the veterans cemetery. Our grandson has a good job but can’t save enough money for a downpayment on a home. That seems to be a common problem for younger folks. He’ll inherit our home….and my Jeep Wrangler😊 when I pass away.
Me being a Navy veteran is the only way my wife and I could afford to buy our first home back in 1971. It cost $22,900. VA loan nothing down monthly note $175.00. Most young folks/families today have little hope of owning their own home unless a relative leaves them an estate when they pass away.
The cost of living today is ridiculous and I can see why young folks feel helpless.
Great information on home buying, so the regrets don't happen.
I am content and happy with renting a good deal-great location apartment in WA right now. We have saving for nessesary things like tution, quality home cooked meal, contributing retirement fund and free time for vacation without debt. Having mental and physical health to build high skilled professional career and relatioship is more matter than owning things.
I remember this conversation with my millennial son after he graduated from a prestigious business school in our state in Finance some 7 years ago. He said there are many reasons and considerations one must seriously think of and assess before buying a house in the economy at the time.
Then he showed me line item by line item every dollar that is incurred in maintaining a house beyond the mortgage, taxes, and insurance. It is a long term investment he said but if one has no plan to stay in it long term, he didn’t think it was a wise one.
And for millennials, it could hold them down if they decide that a new and better job opportunity somewhere else far from the current home suddenly shows up. Fortunately for us the parents were retired and it was time for us to let go of our home to retire somewhere warmer and in something smaller. We live in an economy that does not offer 30 year job tenures anymore, instead, job mobility is the current state of things.
I follow Vermont real estate (I had been looking for land), especially on the lower end of things. A property popped up yesterday in far north VT for $144K advertised as AirBnB ready. Turns out the buyer purchased in the fall of 2023 for $75K and from the looks of it, have no bookings on AirBnB. I hope to see more of this. It's super frustrating as a couple that wanted to buy a very modest property to fix up and enjoy seeing all this real estate gobbled up by ABB and flippers.
Do you really expect us to feel sorry for these people ??
It's a pity you're not an agent in GA, I'd hire you in a heartbeat, lol. We've been looking off and on for a house for a couple years now. Fortunately we're not in any big rush. In our 50s, no kids, just ourselves. Everyone we've tried never really seemed interested in education. Just the typical put the key in the door and let you look around. I'd raise concerns and would get pleasant "Well you could do this, or we have some people you could talk to" but not anything truly constructive. I'd give them an overall budget and what we're trying to avoid but I always feel like I'm getting "pish poshed" about "minor" issues that are "easily fixed" or can be used as a negotiation tool (a valid point but not one I'm really keen on). Always love your videos Jackie :)
I bought a home on a busy corner. The road noise bugged me at first, but now i tune it out naturally. Hang in there!
Ouch, sorry to hear this!
Truck drivers sleep like babies with road noise.
Sounds kinda dangerous if you ask me😉
@@tracy419 over the road drivers sleep in their trucks, our diesel engines are loud.
Thank you Jackie 🙏🙋♀️
You are so welcome!
And remember, it isn't just road noise when you are considering buying, you need to consider whether or not it is on or near a road that may get busier , add lanes, increase speed limits, etc. over time.
Obviously no one can predict the future of road development, but you should be able to look at the roads and traffic around the house, and predict how it will change with more development, more population, more urban sprawl.
I live in the metro Detroit area. Most of the roads north of the city are long straight roads going east/west and north/south creating mile square blocks of city/suburb. There are a lot of nice houses for sale that are built on the 45-50 mph east/west roads like 19mile, 22mile, and 26 mile, as opposed to roads like 16 mile, 20 mile, and 23 mile where the speed limit hits 55-70mph. The trend I see, is that these straight east/west and north/south roads dividing the city, only get busier and busier .the speed limits go up, lanes are added, and consequently, the noise gets worse.
That's an example of a trend that can be used to predict how traffic will change over time. It also goes hand-in-hand with the housing market trends. There are houses along these roads selling for prices almost too good to be true, that sit on the market for a couple months. Why, because more astute buyers know the trend, and know how bad the noise is on those roads.
I lived for 10 years in an apartment on the second floor with 7 windows facing Sunset Blvd in Echo Park, Los Angeles. I loved the apartment and the job and the neighborhood and the friends I made but it was so loud I had to wear earplugs all the time. When I moved out I spent one night away and went back to pick up some things and even after only one day being away from it I couldn't believe how loud the traffic noise was. That apt was also my job, since I managed the building, so it wasn't an easy place to move from. Then the building sold and I was relocated to another building way far out in the San Fernando Valley, and even though it is on a busy street, I'm in the back and don't hear any traffic noise. I've been here now 10 years and every day I thank my lucky stars to be in this place (I also have a pool and a parking spot, which from being from NY I cherish). I make the pilgrimage downtown once a month and at holidays to visit my friends, and they come up here, so I still manage to have my friends, and a few up here, too. I knew I would have to work at that to make it happen and it's totally worth it to me to be in a quiet place. There's lots of kids in this building, so there's definitely sound, but compared to traffic and screaming fire engines and helicopters searching for felons, it's music to my ears.
Please do not buy a HOUSE unless you can really afford it. I am a new immigrant working for the government and making almost 140K a year. I said to myself after doing the Math, the HECK having a mortgage will set me to depression and prevent me from achieving my business dreams. Note we work 20-30 years, maybe even more, and having a mortgage will set you to a halt for doing things that you like.
What I am now doing instead, I am renting an apartment and investing my money in buying land in my country as land will never go down in value (hold its value better than housing). Besides that, I am helping the community to create farming jobs as it is one of my businesses. I also invest in outsourcing developing software scaling up here in the USA and applying smart farming.
Life is like BLINK of an eye. So do not bury yourself in debt that prevents you from doing something valuable.
Good point.
Totally agree and kudo to your perspective
*new* immigrant that makes 140k then you make jobs ( farmer) for border crossers ...Americans that been here for generations don't make 140k and you're sitting complaining you can't afford a home! Omg you folks are ungrateful and greedy. Glad to know my tax dollars pay for your 140k salary that you don't deserve being in US short time ...
Way to go!
My buyers remorse was buying into a neighborhood where we were the minority. But there was no way to know. Everyone was mostly always gone during the day. The problem is after a while the littering, the weed smoke, the theft and the shootings… yeah needless to say we sold our home and netted about $15k more than we paid for it. No regrets. We actually paid down the mortgage to only a $35k balance at 2.5% so now we are rolling all that positive equity to the new home. 🏡
expensive cars sitting on 22" rims is always a good clue
Fancy way of saying you moved in to a black neighborhood. Glad you got the message that you’re not welcome.
It is very difficult to find an honest realtor like Jackie. That is why buyers should not let anybody to pressure them to buy a home; not even yourself. Many misleading realtors will control your moves and even rush you when they are showing a house. If you observe this behaviour, do not put up with it, and dump that realtor immediately. Do not sign an exclusive contract just for them to show you homes around. Many ethical realtors know better and will never force you to do that and still show you as many homes as you wish.
All the best and good video. In my opinion it is still a good time to invest in different stocks like gold, silver and digital currencies. This is one of the most important skills to learn and everyone should invest instead of saving. Some may agree, some may disagree. My big compliments to Natalie Rose Strayer for improving my portfolio!!....
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
This sounds so good and I would like to be a party to it, is there any way I can speak with her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
We pulled out from offer twice due to road and airport noise. All ways hang out for a day around the house and look for red flags.
I have invested in many homes, and before I will buy one, I always make several trips to the property at different times of the day to
observe the neighbors, noise etc. I always engage the surrounding home owners and people walking by an. d ask them if they like
the area, and if they are aware of any problems, i.e. drug houses, rowdy parties etc. I always make sure there is no AIR B&B rentals
anywhere close by. PAY ATTENTION TO THIS!!!
I don't feel badly for any of these people who had a chance to even purchase a house, let alone, a house that cost upwards of a half a million dollars. You obviously are smart enough to make a living that affords you those riches, so why weren't you smart enough to buy the right house, or just wait. Your lease was up???? Then renew your lease for another year or ask to rent month to month.
Good informative video and could be great without loud voice effects in between (I dropped my headphones lol). Also, please make some videos on NJ market.
I usually talk about New Jersey on my weekly livestreams on Monday nights at 7:30. Check it out!! 😄
I don’t feel bad with anyone who has bought a home in the last year or two.
Northern NJ is right under a major migratory bird flyway. You better like the cacophony of chirping birds in the spring and fall if you live there.
I don't/wouldn't consider you negative if you pointed out all these things at all. I would hope every agent would do that but I guess not. Thanks for this.
You're welcome
When my wife and I got married, I was in the military and we lived on base housing and the house we lived in sat between two runways and there was a railroad immediately 200 feet away in front of the house. No noise barriers either. We got used to it and after we left the military, we missed it.
I never minded road noise..or electric poles..or even the railroad tracks used 24/7 less than 2 blocks away...but the one property right on the airport landing/ take off path drove me nuts 6 months out of the year.
Re noise issues, with creative landscaping using baffles as planters, pony walls and terraces and a splashy fountain you can mitigate some noise.✌
I bought an old house build in 1981 . I only replace the roof and nothing else. I concentrated pay down the principal the first 10 years of a 15 years mortgage. So the bank doesn't make alot of money on my mortgage .
I use the money I save on
The interest for down payment for my second home .
I sold my house after 6 months after discovering it had a slight tilt. There were no foundation issues just natural settlement of the house. The renovations were good but I hated the feel of the uneven floors. The yard needed more work than I thought and the neighbors kept dogs in the backyard and didn't take care of the property. I sold 40K over what I paid for and might break even.