I think we were disliking paying rent and not having anything long term to show for it. If it was a property renting or leasing to buy in the future we would have felt different. Now we own our house so it is ours we paid it off. Thank God!!!!!
get a home inspection and be there when you get it and do not be afraid to ask questions home ownership is better that renting i have had some bad landlords that do not come to fix when needed i lived in a place where the roots in the tree front yard would grow in to the sewer system and it backed into the kitchen and bathroom and they would not come to fix it for a week this happened several times a year we asked them to cut the tree down they refused and the tree then began to shed leaves and it messed up the gutter system which then damaged the roof and caused water to leak into the house and they said that we needed to unblock the gutter system i said i am not climbing up on a latter to fix a house that is not mine renting is a service depending on what state you live in you have no rights as a renter they ended up evicting us because we said we were not going to pay the rent until it is fixed they made up an excuse to tell the court that a family member needed to move into the house even though the mortgage house is not yours until its paid off you have far more rights than renting
I purchased my first home six months ago and luckily since I'm a Military Veteran, I used my VA loan and I didnt have to have a down payment. Yes its 0 down. My realtors were ok but I don't think they negotiated a few things as much as they could've. I decided to purchase a townhome because I was tired of horrible neighbors, rent increases and it forces me to be stable for a little while because I travel alot and get bored easily. With a home, I can't easily just get up and go. I'm in a quiet neighborhood, I can do anything I want to my home. However, after living in my home it's cool but I've decided I want to move back overseas in a few years and maybe keep my house for income property.
I don't actually want a house, per se, but I want my own piece of land because I want to grow and have something that has the potential for self sufficiency. I don't want to say "commune", but something along those lines.
My fiancé and I are closing on our first home in 2 days. Thanks for this video- just in time!
12:27 Once you pay it off, the local and state government can raise the property tax so high that you end up losing the house and land anyway. I happened to a friend of mine in Greenwood Lake. They were paying about 13K per year. Local government wanted "richer" people in the area, property tax went up to 30K per year. Point is, you never really own anything anymore because government. And don't forget about Imminent Domain.
Thank you for sharing!!
I love the subtitles with each point that you guys are making. It really helps me remember your tips/advice =]
Brand new to your channel, your guys' perspectives and open honesty is amazing. Looking forward to your future content!! (Oh, and this has given me sooo much food for thought)
This whole video is a blessing, thank you
I loved listening to this. When we bought our place in 2016, the Seattle market was bananas. Houses (including the one we bought) were listed on a Thursday and pending sale the following Monday (and don't get me started on all the folks paying cash…). The rental inventory was also very low and rent was pricey – often more than a mortgage payment – so we felt a little trapped either way.
We made a few offers for places we didn't get and when we did get our place (which was not perfect but was well within our budget) it was an enormous relief. Above all, sticking to your budget is key – do not be tempted to try to outbid someone, or be intimidated by the selling agent on the house telling you about other offers. Not worth the stress.
I also totally agree with you on trust but verify, it's such good advice. Our inspector was good and he provided us with extra resources and contacts on stuff he wasn't sure about, but otherwise it was hard as we didn't know many other people who had bought here and our families live out of state.
Overall I think we got really lucky and I really love our place, but looking back I recognize that so much more could have gone wrong and it makes me anxious even now. I was also letting a lot of other factors influence our decision, including struggling with a bad landlord I really wanted to escape, and wanting to buy before everything was out of our price range here (which it is now). It's such an intense thing. Thanks for sharing with us!
One thing you didn't address and I don't know how it works in America but what is your plan for retiring? I would think if you buy a house you would have pretty much paid it off and can spend your pension/superannuation/savings on just living (I would assume this money would be less than current income) and not continue to spend it on rent (also no plans for children to live with either :p)… Thoughts?
You need to be incredibly self aware and understand your motivation. The conversation of buy vs rent is not a balanced one in society, across the world. I'm South African and home ownership is often used a a barometer of success. Lifestyle goals are overlooked. Too many first time homeowners are not fully educated on the process. Thanks for sharing your expience.
Thank you both SO MUCH for this video!! My fiance and I are looking to purchase our first home next spring/summer and I really appreciate all of the information provided. I even took notes! Lol
Thank you thank you thank you
well this made me feel a lot better about the fact that i will never be able to afford property in new york. It may not be home equity but like, the opportunities that I've found from living here also have value. ¯_(ツ)_/¯
Omg that part about parents trying to talk you into getting a home when they purchased before the real estate bubble pop! That’s been the issue I’ve had with my mom seemingly once every year lol. I live in D.C. proper and rents are high, but getting into a condo or townhome even directly outside the District is not going to be the same path that she and my dad walked when they got their home. And yet…she keeps talking to me about home buying 😂
Lol! Drop it like a dead cat. Wow!
– How old is the roof/furnice/AC?How soon will I need to replace them? Is there a warranty?HOA fees?Is there local programs to help you pay for this house? How old is the house? What is the nearest schools rating?Is there future plans to build up the businesses in this area? Will that impact the traffic?
Go past the house at night/ on the weekend/in inclement weather.
Ooooo Ya'll bout to save a life with this video!! ** saving**
I have a question for Hallese tho. Can you recommend black YTers who have Adobe Photoshop/Premier tutorials? Do you have any of these on your Patreon?
This isn't related to the video, but your Locs look amazing. So does your outfit.
This is a great video! I purchased my home in 2016 and the point that stood out to me the most was do not fall in love with the house. During my search I became so burnt out and exhausted that when I finally saw something I liked I immediately fell in love. I wish I would have taken more time to make sure it wasn't a false high. However it is easy to fall under the pressure of the time crunch and not wanting to lose it. Second great point is that if anything seems slightly off or questionable trust your instincts. It can be as simple as the outlets on the walls doesn't seem right or not using the right fixtures. This can definitely be a sign that they were cutting corners and you need to take a step back and really investigate. The reality is some things will not even be apparent until several months after you are living in the house. You must be prepared for those hidden costs. So definitely take it seriously if there are any signs of shoddy work.
I really enjoyed ya'll perspective. For me, I am believing to pay for my future home in full owing no man NOTHING but to love him. In the meantime, I'm single with no kids, a property owner, and a renter. I like having the ability to call someone if something breaks down, not worrying about maintenance, and as Hallease indicated I like having the freedom to move if need be and not being locked into a mortage. However, I can do w/o noisy neighbors and stairs that comes with apartment living. Definitely want a house but I don't need one at this time.
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