Millennials have buyers regret after purchasing first home
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- Опубликовано: 6 окт 2024
- FOX 26 Reporter Randy Wallace explains why some first-time homebuyers have buyers regret.
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The new American dream is just haveing enough money to eat ........
Amen to this comment❤ The best one yet👏🏾
Having enough $ to keep a ceiling/roof over my head while I eat what I can afford
It should be illegal for the seller to pay the buyers' agent commission. Talk about a conflict of interest!
Didn't know about property taxes???? sheesh
Stop buying these over price houses....
Just buy a piece of land and a tiny home on wheels. A house if it ain't raised a extra 10 or 20 feet even off the ground expect to be swimming with the fishes every few years bc them regular floods ain't going nowhere in houston
i researched when i bought my home. and my realtor was awesome.
Some agents very bad
*most are very bad. They are relics of the past, like a phone book, bank teller, etc.
No excuse, we are in an age of multiple sources of information do your home work and hire a good real estate agent . Ownership in most cases is better than renting.
I don’t know about that.
I live in a 2100 sq ft home with a $1,300 mortgage payment. Once it’s paid off this year I’ll still have to pay $600 a month for taxes and insurance and a few hundred more for MAINTENANCE.
I’ve lived here for 9 years and have replaced stove, garbage disposal, dish washer, 2 new sets of laundry appliances (first set went out last year), basic lawn care ($45 a week for 35 weeks), replaced a 15 year old bathtub, etc…
Then there are the basic upgrades like flooring, bathrooms, windows, doors, etc….
I’m about to undertake a kitchen remodel to make it more functional which is 20,000 USD because they don’t build homes with real families in mind.
Last year, we had to replace a $19,000 USD roof thanks age (wear and tear.)
I’m sure I’ll be replacing the HVAC system within the next 10 years since it’s 15 years old in the Midwest.
So yeah…. I question if owning is better than renting. When I think about the money it’s a close call.
Not everyone is cut out to be a homeowner
Some renters prefer to have the freedom to relocate
You literally get a good faith estimate. They also have classes for first time home buyer’s.
Exactly.... and then there is the internet
Why aren't these people "aware" ???
Wait till they find out how absolutely garbage the build quality is on any close to new home ouch !
THATS RACISMS !!
Millennial home buyer here, I went in with both eyes open, calculated what my up front closing costs were, how much my monthly principal was going to be including insurance and taxes into the escrow. And also factored in saving money every single month for potential repairs.
I have more knowledge at my fingertips regarding the ins-and-outs of home buying then both my parents did when they bought theirs, there's absolutely no excuse and I have no sympathy for these buyers that are complaining.
Good ! That's what you are supposed to do.
Yeah y'all r dum
So true. No internet when we were buying. So much information out there now. And always get a home inspection!
No one asked for your sympathy.
@@ceciliapetrowsky2572I got a home inspection and the inspector did not report the water damage and mold in the living ceiling so I bought it and now I have to replace the ceiling. Plus the city is not great. And my realtor referred him to me. He did the inspection with him but colluded to sell the home.
Don't RUSH
I blame the Californians 😢
Your home is not an asset, remember 2008 😂😂
Who's fault is it that they did not educate themselves before jumping off the ledge!
Why aren't parents passing this information down to their children? You know show them how the process goes?
Most parents are not good parents
Lmao half the population doesn't own a home buddeh
Parents didn't have such greedy people selling homes. Duh. My mom's mortgage was $260/month. Now her 4 bed, 1.5 bath is worth $350,000.
Most children are not good children
@@meyou2236 Well they made it seem like Millennial buyers didn't realize the amount of taxes they will have to pay for the year. I think so much is not explained from parents to their adult children.
Because the homes are not worth there value, or the required maintenance, taxes, interest, and financial long term responsibilities! Move out of Houston, buy land and build a tiny home yourself, or a fifth wheel trailer!
They should do research and take 1st time homeowners classes before they start viewing homes
The interest rate in 1980 was 16 percent. Houses may have been cheaper but paychecks were a lot smaller. Minimum wage was $3.10. Its always been a struggle to own a home so definitely look at it as a long term investment.
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.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance Long story short, its been 2years now and I’ve gained over $860k following guidance from my investment adviser.
@@MarkFreeman-xi3rk Interesting Mark. I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.
Actually, I've shuffled through a few advisors in the past, and “ Margaret Johnson Arndt” remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.
Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, wrote her an email outlining my objectives. Thanks for sharing.
Millennials: I'll waive the inspection fee, matter of fact let me add 10 percent more cash on top to secure this house.
After inflation: 😶
Inspector is the bad one
It's because they wanted to live in the popular neighborhoods, midtown, Cottage Grove and other areas inside the loop where $300 to $500k and up are common.
It's their own fault for spending more than they make. They want everything now and don't want to trade up as their income grows.
They graduate college, get married and want $180k and more combined so they blow their whole wad on that expensive home plus two new and expensive cars.
I guess they learned nothing in college except how to complain.
Just saw a 500k 980 sqft home with 4 rooms and 0 bathrooms lmao. Prices are stupid.
@@iNVERTASESZero bathrooms? 🙄 Stop exaggerating
Millennial here - I bought my first home 6 years ago housing now smh
I just paid off 15 months of child support😂.
The real story here is your reporter’s make up .
What’s up with that ? Is that eye liner ? mascara ?
All as result of *Progressive* policies. People warned against this, but the country *didn't listen* . Will be worse than 2008 and the Great Depression.
😴
Lol
😂😂😂😂😂
My fixed rate mortgage went up $200 again
Where do you think these insurance companies are getting the money to pay for tornado and hurricane damage everywhere?
You don't have a fixed rate if your mortgage went up. Are you paying PMI or higher property taxes?
Adjustable rate I bet