This is an incredible video. I have had my heart set on buying a house for about a year now but this video has helped me realize it’s a better idea to just wait a little bit. Thank you!
@@pauli6043 hello Paul, Kyle is a friend of mine and I have a running bit that he never returns my calls when it’s me that doesn’t return his texts. It’s a joke my dude.
@@pauli6043 Thanks for your support Paul! Javier is just kidding though :) he’s pointing out that I reply to most people but he’s doing it in a sassy way haha. We’re good friends, Javier’s a super kind guy
I detected some sarcasm LOL. Really enjoying the channel, it's keeping me sane right now as I am going through hell right now on final mortgage commitment (FHA) due to commission income, car allowance etc., even though I switched to a much better position in October (same industry for 31 years). Thank God the sellers of the house I bought are pushing closing into March, as they haven't found a house yet!
We just closed two weeks ago. We bought and got a loan without PMI. Our mortgage is much lower than previous rent. We didn't have to compete for the house and the inspection and appraisal was above average. We had an amazing team behind us!
I really appreciate you putting the lists next to you as you're speaking, it helps me stay focussed on what you're talking about as you go on. As a visual learner it helped me enjoy the video more and get more from what you were saying verbally :)
I was extremely lucky when I was searching. I wasn't pressed for time. I was prepared to continue to rent if needed. I was most definitely at the right place at the right time. It was a short sale, so I had 5-6 months to back out if I wanted to (even if it cost me my EMD, would have been a small price to pay to do the right thing). Plenty of time to take care of some debt, save for the move (my friends were awesome helping me) & map out my budget. Big key: I bought a property well within my budget. Mortgage is LOWER than what my rent was even with putting down 5%, paying PMI (for now) & escrow. If your wallet is ready, have a good team around you!! Buy smart!!!
My hubby and I need to move we’ve outgrown our starter home and have been making it work for years with our kids. We’re financially stable and have 20% to put down and a ton of equity in our current home that we’ve lived in for 16 years. Even with all that we quit looking after actively working with a realtor for months. We realized that this market is not for us, we’re not willing to get into bidding wars for overpriced homes that we don’t love. It’s a big decision and one we don’t make lightly, we definitely can’t decide weather or not to make an offer in a matter of minutes. We’re patient we can wait and we’re fortunate enough to have our current home.
I wouldn’t work with a buyer that isn’t absolutely sure they need to move right now, sadly there are Realtors that will show property to anyone that asks. And buyers need to be ok with having competition. Some people don’t like the added stress of buying in a highly competitive low inventory market, and even a low interest rate can’t overcome that. Love your videos 💓
I was look at condos and even got to the point of submitting an offer and getting an inspection done. Literally the day after the inspection we had a huge change at work in salary cuts and hours. It impacted me more than I was comfortable with. I called my realtor to tell her what happened and she pushed and pushed me. She said well your work write a letter stating your pay had stayed at $x... She could've cared less that I was financially affected she just wanted to lose the deal. I called my loan officer and he told me to drop her immediately and if my finances have gone awry to not go through with the loan... Realtors are vultures right now in this market!
Excellent channel. I cannot recommend you enough. You've been so calming and insightful. So happy that my bid was accepted and I have another home inspection tomorrow. Here's hoping it all goes smoothly!
I just want to say, thank you so much for this! Like really... My husband and I have been looking/searching for our forever home outside of New York (this is where we live) not only cause the houses are too expensive and small, but it's just time to go. I've told my husband that you can get more bang for your buck out in any other state.. but wow after watching and hearing your video, Imma have to start rethinking a lot of things. Thanks so much and stay safe.
I'm still working to understand the psychology of potential clients that have no solid reason to fix their credit and aren't sure why they want to purchase a home. It's fascinating to me, but I usually don't end up working with them until they get laser focused on a specific goal. Don't wanna play a part in them getting in over their heads prematurely. Good commentary here. Loving the content!
Thank you for this video. My friends are either realtors or are buying homes in the small town we grew up in and they're constantly preaching "I'm throwing money away by renting." No. I live in a high cost of living city. I don't know what neighborhood I wanna settle in yet, I don't know where my career will take me, I got antsy in my 2 year lease and looked to move earlier than it was over so I am CLEARLY not ready to commit to a home right now. I like the FREEDOM of renting. I like not having to worry about maintenance costs or property taxes on a 450k house. Renting is the best scenario for me right now and I am not throwing money just cuz I'm not rushing into anything I might regret.
Well said. I've been a home owner for 16 years now, and have no regrets. I bought the house a year after college at 25 years old. I'm also a real estate agent, and I make some of my living from that income. With all that said, I don't believe that nonsense that one is throwing money away by renting, and believe me I hear it a lot. There are so many expenses involved with home ownership apart from the mortgage. I believe that it has been preached for decades about home ownership being the American dream, and people buy that crap. I think one should buy a house if it makes sense to them. I also bought a house right out of college because I thought home ownership was the "in" thing. Even though it has worked out for me, and I would do it all over, it's not for everyone. One should proceed with it when one's heart really wants to do it not because everyone is doing it. Go on, and keep enjoying your life girl, and when you are ready to buy, then go for it. Be blessed!
Thank you for this comment! I live in Washington DC and people back home really just don’t understand how the cost of housing in a major metro area would scramble their calculations
I feel like I’m in this position where I want to buy a house yet not completely sure it’s the right move. This video helped clear a lot of my doubts. Thanks Kyle!
Me too! I have a 3 bedroom townhome that is about 1800sf. 2 little kids. I've had this house for 16 years, and I'm just bored of living in the same place so long. Mortgage and HOA is lower than renting, so very reasonable mortgage. I've been looking for over a year now just because I'm bored of living in my starter house. I'm also a real estate agent, and I see all the craziness out there with the bidding war. This video is God sent. I knew in my heart that it wasn't smart to buy now, but I just wanted a new environment. This video confirmed what I knew in my heart already.
This is the reality for me, I don’t have enough savings, as much as people nag and question if I’m going to keep renting for the rest of my life they don’t understand buying a home is not a “One size fits all.” I’m the only sole provider for myself and my daughter. However I’d like to buy a home so that one day I can pass it down to my daughter and set her up for financial success.
The best way to possible set her up for financial success may be looking into purchasing a multi family! That’s what me and my husband are doing! Rent out one unit and live in the other so their rent pays most or at least half of the mortgage!
@@kendrac8885 I’ve thought about that too, the only thing that discourages me is having to deal with tenants! I’ve lived in different apartments, the last place I lived the the owner/landlord was very attentive to whatever needed fixing or any issues however my downstairs neighbors were the tenants/neighbors from hell. Someone co-signed the apartment for them, even when the landlord went above and beyond they managed to live rent free for almost a year would blast music at all hours of the night, throw parties every other day, smoke weed, they once were negligent in leaving a pot on the stove on “low” which almost caused to burn the building down. They would partake in all type of random questionable activities. I don’t want to deal with that. I want to live in peace. So I’m realistic about the home I would be able to afford, something that’s is cozy for the two of us. Maybe once I’m there I can possible think about rental property. But definitely not dismissing the idea, I’ve just witnessed bad experiences with renters and how the owners get screwed over.
Thank you for the information. This is what ppl need to hear. A lot of ppl are wanting to buy for the wrong reasons and could potentially get themselves into debt our regret just because the media is telling everyone to buy rn.
I’m VA, had used all my savings to actually buy My home. Now I’m building my savings back up. I also had just enough to buy. This only covered closing costs and other fees. My down payment was nothing. I’m not sure if this counts me in as ready but it took me years to save up $12k in CA. I also didn’t want to go into another lease with most landlords charging 1st/last/deposit and continue throwing money to renting. my credit was good, my debt to income and I had the money to close. I probably should have put a lot down but other than that. I feel like I made the right choice.
Hi there! We love your wonderful, soothing, and informative videos. You previously covered a topic regarding regarding USDA loans. My husband and I are actually considering using a USDA loan for our next home purchase and we are considering purchasing a new modular home and land because the resale home inventory is so low. Plus, we really love the idea of having a new home warranty and being a little more worry free since every thing would be new. Would you consider doing a video on this topic? You mentioned using USDA to build but only briefly. Thank you and keep up the great work! 😀
My husband and I have been married for 14 years, and we have outgrown our apartment with our two kiddos. But we’re still not fully ready to buy. We need to fix a couple of items on our credit and get a little bit more saved up. So we’re looking at starting the buying process in about a year. I really enjoyed your realistic viewpoint that you provided. A lot of people jump in head first without thinking long term, or the actual cost of buying, and the responsibilities of buying a home.
Great recommendations and summation Kyle! Adding on to the cost to move is having a budget or limit for filling in that living space (e.g. furniture) which can quickly get out of control, and again highlights what you've said about discerning what's seen as urgent or important.
This is something we had to look into. We are looking into new construction and one house was like 1300 and taxes a year was going be 2000. That’s a no for me . So we went for a smaller home and that’s okay with us
I’m sorry but how in the hell have I not heard of this channel 🤷♂️. I mean my dude you are so on point and give great detail in this video…this is what I like about the channel ….No BS copy and paste about home ownership you get straight to the point and I really respect that
currently in the process of buying a home stuck in USDA hell right now, Awaiting final approval closing was supposed to be 1-23-21. USDA is 2-3 weeks behind and now closing has been pushed back until 2-12-21. Super nervous that we won't hear anything back. Arizona Market
I had a 140k 5% down conventional pre approved by JP morgan and decided to wait now I have better saving 20k and even and emergency fund 3k should I keep waiting and saving I live in Miami and everything is over priced
This is a great video! Everyone thinks I’m crazy because I’m moving/buying for a dog. Little man needs a yard. I’m moving 20 miles north that’ll put me in a different state to where I won’t have to pay state income taxes (Oregon to Washington, working from home). Portland is so expensive…I have about $250k in equity in my current condo :)
Thanks for the vid! My mom and I have been looking into just buying a home, where we live is extremely unsuitable and leaving this place is a necessity. We both feel like we NEED to buy but it's very far from our reach to do that financially. Will highly be considering looking into renting a home now, maybe we can leave this place sooner than we imagine
Hi Kyle, can you please please make a video regarding how co- borrowers credit can affect one another. I have decent credit, but a lot of debt between student loans and my car, where as my husband doesn't have any credit and no debt. I have higher income than he does. I scanned through your videos and watched a bunch, but haven't seen anything regarding it. 🥺
Thanks for the great video. Savings is a must and having funds is even more important. I needed $22k to complete my home purchase (in my price range) and people don't realize how expensive it is to buy a home.
In a city like Miami or south Florida in general, my opinion is that pricing will go up. We have so many things here like the weather, people are moving down from northern states...etc....
Buying a house is something I want to do in the next year. My credit is okay(low 800s) but my income is less than stellar. Your videos are very helpful.
Good analysis. Buyers are in a frenzied rush to buy right now. Maybe seek some advice from a financial planner, as well as your real estate agent and lender. We need someone in our corner.
@lesha you can always sell you don’t have to keep it, buying a home is always a good asset. If you buy now at low interest rate your paying less monthly but if you buy later house prices are sky rocketing so if you buy you can sell later at a higher value. If you buy later prices will be higher
@@WinTheHouseYouLove i get your point but I think you were wrong about renting throwing money away. Some people live in markets where rent is much higher than a mortgage. My house right now would rent for 1500 a month but the mortgage is only 800. The average rent for a house my size is 1300-1600 a month. I get it some people are not smart enough to be prepared but that doesn't mean the push for home ownership is bad.
Good morning, I am about to buy a home and I was approved for $ 150,000 , I am looking for 3 bd 2 ba 1,023 sqft in Hamden Ct, how much would my mortgage be on the loan I saw several townhouses and condos homes where the HOA fee are $ 275.00 -$ 400.00 a month a $ 1,800.00 or $ 2,000,00 mortgage, my question is what should I be paying, and taxes range from $ 5,000-$ 10,000 a year. The Bronx New York Stay Coronavirus free
My husband and I need to move in a few months but I think we're going to continue to rent. We don't have any debt and we have money saved for a down payment but the market is so horrible right now in PHX. Javi convinced me to wait 😂
Idk what you're waiting for the market isn't going down drastically enough to make a difference. When prices come down interest rates will start to rise. Waiting on makes sense if you're buying with cash.
Awesome information! Yet, there is even with the Pandemic a grand shortage of homes for purchase. Mortgage interest rates have begun to creep back up. Who wants to wait to purchase until Interest rates hit the roof? The current Pandemic 😷 will subside hopefully by the end of the summer. Hopefully this will help to increase more inventory. Less people will be out of works well.
Being comfortable with the cost was something I didn't know know anything about in the beginning of my home buying journey. Everyone is being told to have a 3.5% down payment. If people don't know all the possible cost to complete the transaction, it would steer them away from buying.
If you can only afford the mortgage if you have a tenant in place paying rent, you should think twice. I've heard a number of people with rosy ideas about how easy it is to get a tenant to occupy a portion of their home, or to take over the property of they have to move in the foreseeable future. If the tenant fails to pay rent, it could take several months, or longer to evict them. You as the owner have to be able to cover the entire mortgage, in addition to your personal housing costs, during this period.
Love you videos! So clear, straight to point and detailed help for first time buyers who don’t know where to begin! Thank you!!! Do you have a podcast? Would like to subscribe to it if you do? 😁
Hello l have a question what about manufacturing homes do you have any information about that. Like what lenders or programs are out there to finance the home. Please advise
Wowwwwwwwwwwwww this is excellent!!! You’re so right and I waited until now for some of the reasons you mentioned. Now I feel comfortable moving forward and if my voice wasn’t louder then the agent or other people I would have been miserable with a new home. However,. I wasn’t expecting covid-19 to throw a monkey wrench in the process!!!!!! Oh welllllllllll it will all work out!!!!👍🏽🥰🌹 You Have The Best Videos Keep Up The Excellent Work!!!👍🏽🏆🌹
Very dangerous to for people to wait because they think prices are going to drop. That is just not going to happen anytime soon. Maybe in 15 years it might. Prices double within 3 years. Waiting is going to hurt a lot of people.
I don't know I think you're wrong about getting out of certain situations and buying a home could be a lot cheaper for many people especially if you're renting.
What is the formula in EXCEL on how to figure out a person's maximum qualifying price point? I can figure out all other calculations except for this one and the calculation for the max monthly payment.
Text #maxprice to 937-358-6542 for the Google Sheet (you can download it to Excel, but it won't work in Excel unless you know how to use circular references) There isn't one formula for it. It's a multiple formulas using recursion to reach an answer.
If a REALTOR, or real estate agent takes you to see homes without seeing your pre approval, and having that “motivations” conversation you should reconsider your choice of agent.
@@WinTheHouseYouLove I also live in the land of Hellinois It’s a huge scam here with the public sector pensions, etc. Truly criminal what they are getting away with
Man I lived 2 years and 10 month at this location. That's about 50k paid in rent. When I move into this place houses were about 30% cheaper than they are now. You telling me that I made the right decision on not buy with a USDA loan. I only had 2k in my savings. I am not sure If I agree with you. I would have been refinancing right now to lower my payments and getting rid of mortgage insurance. Paying rent is a spending problem, pay a mortgage is saving money.
you can live under the bridge and stash all the money you would spend on down payment, installments, utilities, taxes and put it index fund and instead of paying interest, earn interest so one day you can afford to buy a house for cash
Ugh... I NEED my own place at the moment. My credit is at a 620, but could use more work. However, I don’t have any savings. 😩 my drive is there, and I’m dedicated to getting something that accords with my financial situation. Definitely not trying to own a home over my financial means. Just waiting to get my bachelors in May to transition over to a better paying job as well. I can prove steady income since I’ve been at my job for almost 3 years now. The extra money and better credit would help, though. :/
My desire to buy a house is a result of peer pressure. A lot of my friends are buying and keep telling me I should buy now when the interest rates are low despite me being single and having no kids.
Thank you for mentioning Zillow and realtor monthly estimates for homes. I am trying to get the home is possible program to help with down payment assistance with a 680 credit score. I was thinking getting a conventional loan because it has better rates right? For a 250k house is a 15-1600$ payment realistic or am I being delusional? Thank you for all your help
It will depend on a few things, especially taxes, but everything included (principal, interest, taxes, homeowner's insurance) you're in the right ballpark
Why I want to buy...I went through divorce 3 years ago and have been renting 2 br since then. I need more space and rental houses cost more than buying outright. Plus my parents are moving in with me to help. I want a place of my own.
Problem is I won't have savings because I will use what I got to get out of debt but I will never get out of that unless I have a place that my parents can help me with funds.
The realtor bashing is not accurate. I never let a client write an offer without a preapproval or proof of funds. My goal is to get my clients in the best situation. I frequently advise short term pain long term gain in preparation for purchase. You are making sweeping statements which tar and feather realtors and actually create a level of distrust which creates some of the issues you are discussing. I try never to show without identifying whether the buyer is ready. The reality is there are a substantial amount of buyers out in the market who don't want to be told a) no, b) be questioned as to readiness and choose to not be truthful instead.
Hey Melannie! I told a story that a client went through. I didn't talk poorly of Realtor's as a whole. Also, my dad is a real estate broker for multiple franchises... my whole family is in real estate. I have nothing against real estate agents or Realtors at all. Most of my family are agents haha. I'd be more interested in how that story prompted defensiveness for you.
This is an incredible video. I have had my heart set on buying a house for about a year now but this video has helped me realize it’s a better idea to just wait a little bit. Thank you!
Thank you so much for watching!! :)
Reason #7 to not buy a home: Win The House You Love doesn’t return your call, emails, fan mail, texts, carrier pigeons, or telegrams.
Where's the *bruh* sound effect when you need it lol
U mad bro? Why the hate towards the guy? It's free advice, and it's his decision who/what to answer
@@pauli6043 hello Paul, Kyle is a friend of mine and I have a running bit that he never returns my calls when it’s me that doesn’t return his texts. It’s a joke my dude.
@@pauli6043 Thanks for your support Paul! Javier is just kidding though :) he’s pointing out that I reply to most people but he’s doing it in a sassy way haha. We’re good friends, Javier’s a super kind guy
I detected some sarcasm LOL. Really enjoying the channel, it's keeping me sane right now as I am going through hell right now on final mortgage commitment (FHA) due to commission income, car allowance etc., even though I switched to a much better position in October (same industry for 31 years). Thank God the sellers of the house I bought are pushing closing into March, as they haven't found a house yet!
We just closed two weeks ago. We bought and got a loan without PMI. Our mortgage is much lower than previous rent. We didn't have to compete for the house and the inspection and appraisal was above average. We had an amazing team behind us!
Awesome!!
Where?
@@ElleBrOw Central MA.
I really appreciate you putting the lists next to you as you're speaking, it helps me stay focussed on what you're talking about as you go on. As a visual learner it helped me enjoy the video more and get more from what you were saying verbally :)
Thank you so much for watching!! :)
I was extremely lucky when I was searching. I wasn't pressed for time. I was prepared to continue to rent if needed. I was most definitely at the right place at the right time. It was a short sale, so I had 5-6 months to back out if I wanted to (even if it cost me my EMD, would have been a small price to pay to do the right thing). Plenty of time to take care of some debt, save for the move (my friends were awesome helping me) & map out my budget. Big key: I bought a property well within my budget. Mortgage is LOWER than what my rent was even with putting down 5%, paying PMI (for now) & escrow. If your wallet is ready, have a good team around you!! Buy smart!!!
Love it! Thanks for the tips!!
My hubby and I need to move we’ve outgrown our starter home and have been making it work for years with our kids. We’re financially stable and have 20% to put down and a ton of equity in our current home that we’ve lived in for 16 years. Even with all that we quit looking after actively working with a realtor for months. We realized that this market is not for us, we’re not willing to get into bidding wars for overpriced homes that we don’t love. It’s a big decision and one we don’t make lightly, we definitely can’t decide weather or not to make an offer in a matter of minutes. We’re patient we can wait and we’re fortunate enough to have our current home.
Thank you so much for watching!! :)
exactly, J B. these bidding wars are outrageous
I wouldn’t work with a buyer that isn’t absolutely sure they need to move right now, sadly there are Realtors that will show property to anyone that asks. And buyers need to be ok with having competition. Some people don’t like the added stress of buying in a highly competitive low inventory market, and even a low interest rate can’t overcome that. Love your videos 💓
I love that mentality :)
I was look at condos and even got to the point of submitting an offer and getting an inspection done. Literally the day after the inspection we had a huge change at work in salary cuts and hours. It impacted me more than I was comfortable with. I called my realtor to tell her what happened and she pushed and pushed me. She said well your work write a letter stating your pay had stayed at $x... She could've cared less that I was financially affected she just wanted to lose the deal. I called my loan officer and he told me to drop her immediately and if my finances have gone awry to not go through with the loan... Realtors are vultures right now in this market!
Yeah I'm one of them as my husband says its depressing. We are just gonna build on some land.
@@toddrannbartley1684 yep and its not like the old days where they came and got you and showed homes, lazy, Ive done a lot of the work.
I doubt a dedicated buyers' agent would waste their time with a person who's on the fence in a red hot seller's market. A dual agent, maybe.
It’s a trend to buy. People aren’t doing enough research they’re just going with what’s in! Huge mistake. Great video!
Thank you so much for watching!! :)
Excellent channel. I cannot recommend you enough. You've been so calming and insightful. So happy that my bid was accepted and I have another home inspection tomorrow. Here's hoping it all goes smoothly!
Thank you so so much! Congrats on your accepted offer! Keep me posted :)
@@WinTheHouseYouLove I will!!!
I just want to say, thank you so much for this! Like really... My husband and I have been looking/searching for our forever home outside of New York (this is where we live) not only cause the houses are too expensive and small, but it's just time to go. I've told my husband that you can get more bang for your buck out in any other state.. but wow after watching and hearing your video, Imma have to start rethinking a lot of things. Thanks so much and stay safe.
Thank you so much for watching!! :)
I'm still working to understand the psychology of potential clients that have no solid reason to fix their credit and aren't sure why they want to purchase a home. It's fascinating to me, but I usually don't end up working with them until they get laser focused on a specific goal. Don't wanna play a part in them getting in over their heads prematurely. Good commentary here. Loving the content!
I'm sure they appreciate having an advisor like you!
13:30 VERY WISE WORDS! Thank you for reassuring us! I hate being asked by acquaintances When will you buy a house?
Thank you so much for watching!! :)
Thank you for this video. My friends are either realtors or are buying homes in the small town we grew up in and they're constantly preaching "I'm throwing money away by renting."
No.
I live in a high cost of living city. I don't know what neighborhood I wanna settle in yet, I don't know where my career will take me, I got antsy in my 2 year lease and looked to move earlier than it was over so I am CLEARLY not ready to commit to a home right now. I like the FREEDOM of renting. I like not having to worry about maintenance costs or property taxes on a 450k house. Renting is the best scenario for me right now and I am not throwing money just cuz I'm not rushing into anything I might regret.
Thank you so much for watching!! :)
Well said. I've been a home owner for 16 years now, and have no regrets. I bought the house a year after college at 25 years old. I'm also a real estate agent, and I make some of my living from that income. With all that said, I don't believe that nonsense that one is throwing money away by renting, and believe me I hear it a lot. There are so many expenses involved with home ownership apart from the mortgage. I believe that it has been preached for decades about home ownership being the American dream, and people buy that crap. I think one should buy a house if it makes sense to them. I also bought a house right out of college because I thought home ownership was the "in" thing. Even though it has worked out for me, and I would do it all over, it's not for everyone. One should proceed with it when one's heart really wants to do it not because everyone is doing it. Go on, and keep enjoying your life girl, and when you are ready to buy, then go for it. Be blessed!
Thank you for this comment! I live in Washington DC and people back home really just don’t understand how the cost of housing in a major metro area would scramble their calculations
I feel like I’m in this position where I want to buy a house yet not completely sure it’s the right move. This video helped clear a lot of my doubts. Thanks Kyle!
Thank you so much for watching!! :)
Me too! I have a 3 bedroom townhome that is about 1800sf. 2 little kids. I've had this house for 16 years, and I'm just bored of living in the same place so long. Mortgage and HOA is lower than renting, so very reasonable mortgage. I've been looking for over a year now just because I'm bored of living in my starter house. I'm also a real estate agent, and I see all the craziness out there with the bidding war. This video is God sent. I knew in my heart that it wasn't smart to buy now, but I just wanted a new environment. This video confirmed what I knew in my heart already.
This is the reality for me, I don’t have enough savings, as much as people nag and question if I’m going to keep renting for the rest of my life they don’t understand buying a home is not a “One size fits all.”
I’m the only sole provider for myself and my daughter. However I’d like to buy a home so that one day I can pass it down to my daughter and set her up for financial success.
Same.
For sure. You have your goal in mind and you're working towards it. That's all that matters :)
The best way to possible set her up for financial success may be looking into purchasing a multi family! That’s what me and my husband are doing! Rent out one unit and live in the other so their rent pays most or at least half of the mortgage!
@@kendrac8885 I’ve thought about that too, the only thing that discourages me is having to deal with tenants! I’ve lived in different apartments, the last place I lived the the owner/landlord was very attentive to whatever needed fixing or any issues however my downstairs neighbors were the tenants/neighbors from hell. Someone co-signed the apartment for them, even when the landlord went above and beyond they managed to live rent free for almost a year would blast music at all hours of the night, throw parties every other day, smoke weed, they once were negligent in leaving a pot on the stove on “low” which almost caused to burn the building down. They would partake in all type of random questionable activities. I don’t want to deal with that. I want to live in peace. So I’m realistic about the home I would be able to afford, something that’s is cozy for the two of us. Maybe once I’m there I can possible think about rental property. But definitely not dismissing the idea, I’ve just witnessed bad experiences with renters and how the owners get screwed over.
@@kara_tee calofríos CCD. E c
Thank you for the information. This is what ppl need to hear. A lot of ppl are wanting to buy for the wrong reasons and could potentially get themselves into debt our regret just because the media is telling everyone to buy rn.
Thank you so much for watching!! :)
I love your honesty.....most loan officers want to get paid......that is all they care....No the clients....
I’m VA, had used all my savings to actually buy
My home. Now I’m building my savings back up. I also had just enough to buy. This only covered closing costs and other fees. My down payment was nothing. I’m not sure if this counts me in as ready but it took me years to save up $12k in CA. I also didn’t want to go into another lease with most landlords charging 1st/last/deposit and continue throwing money to renting. my credit was good, my debt to income and I had the money to close. I probably should have put a lot down but other than that. I feel like I made the right choice.
I'm glad it worked out well for you!!
Hi there! We love your wonderful, soothing, and informative videos. You previously covered a topic regarding regarding USDA loans. My husband and I are actually considering using a USDA loan for our next home purchase and we are considering purchasing a new modular home and land because the resale home inventory is so low. Plus, we really love the idea of having a new home warranty and being a little more worry free since every thing would be new. Would you consider doing a video on this topic? You mentioned using USDA to build but only briefly. Thank you and keep up the great work! 😀
Thank you so much for watching!! :)
I'll add it to my video list :)
Great video my friend, it’s always good to take a look at the other side perspective and make sure one is buying a house for the right reasons!
Thank you so much for watching!! :)
My husband and I have been married for 14 years, and we have outgrown our apartment with our two kiddos. But we’re still not fully ready to buy. We need to fix a couple of items on our credit and get a little bit more saved up. So we’re looking at starting the buying process in about a year. I really enjoyed your realistic viewpoint that you provided. A lot of people jump in head first without thinking long term, or the actual cost of buying, and the responsibilities of buying a home.
Sounds like a great gameplan, you got this, no rush :)
Great recommendations and summation Kyle! Adding on to the cost to move is having a budget or limit for filling in that living space (e.g. furniture) which can quickly get out of control, and again highlights what you've said about discerning what's seen as urgent or important.
Thanks! Ooh good point!
This is something we had to look into. We are looking into new construction and one house was like 1300 and taxes a year was going be 2000. That’s a no for me . So we went for a smaller home and that’s okay with us
Thank you so much for watching!! :)
Really appreciate your honesty in providing value for home-buyers!
Thanks!
I’m sorry but how in the hell have I not heard of this channel 🤷♂️. I mean my dude you are so on point and give great detail in this video…this is what I like about the channel ….No BS copy and paste about home ownership you get straight to the point and I really respect that
currently in the process of buying a home stuck in USDA hell right now, Awaiting final approval closing was supposed to be 1-23-21. USDA is 2-3 weeks behind and now closing has been pushed back until 2-12-21. Super nervous that we won't hear anything back. Arizona Market
Ugh, I'm sorry to hear there is such a delay!
How is going so far?
I had a 140k 5% down conventional pre approved by JP morgan and decided to wait now I have better saving 20k and even and emergency fund 3k should I keep waiting and saving I live in Miami and everything is over priced
Keep up the good work!
@@WinTheHouseYouLove I follow Dave Ramsey because of you and I am on BS3B
This is a great video! Everyone thinks I’m crazy because I’m moving/buying for a dog. Little man needs a yard.
I’m moving 20 miles north that’ll put me in a different state to where I won’t have to pay state income taxes (Oregon to Washington, working from home). Portland is so expensive…I have about $250k in equity in my current condo :)
That's awesome! Best of luck!
Thanks for the vid! My mom and I have been looking into just buying a home, where we live is extremely unsuitable and leaving this place is a necessity. We both feel like we NEED to buy but it's very far from our reach to do that financially. Will highly be considering looking into renting a home now, maybe we can leave this place sooner than we imagine
Thank you so much for watching!! :) I'm wishing you and your mom the best!
Hi Kyle, can you please please make a video regarding how co- borrowers credit can affect one another. I have decent credit, but a lot of debt between student loans and my car, where as my husband doesn't have any credit and no debt. I have higher income than he does. I scanned through your videos and watched a bunch, but haven't seen anything regarding it. 🥺
I love you're channel thanks so much for all your help!!!
You are so welcome!
Thanks for the great video. Savings is a must and having funds is even more important. I needed $22k to complete my home purchase (in my price range) and people don't realize how expensive it is to buy a home.
For sure! Thank you so much for watching!! :)
What was the price of the house? If you don’t mind me asking?
Oh my god you’re at 40,000 subscribers now congrats I found your channel at 10,000 subscribers
You've been around for a while! I appreciate your support!!
This was great. Thank you!
Thank you so much for watching!! :)
In a city like Miami or south Florida in general, my opinion is that pricing will go up. We have so many things here like the weather, people are moving down from northern states...etc....
For sure! Just because prices go up still doesn't mean buy automatically is a good decision for everyone though
This is a realistic honest approach to make a decision in buying a home. I am more enlightening 👏
Thank you so much for watching!! :)
All my friends will be so jealous if I buy a house and they'll come over and swim in the pool but I have so much fun to everything breaks down
Buying a house is something I want to do in the next year. My credit is okay(low 800s) but my income is less than stellar. Your videos are very helpful.
Thank you so much for watching!! :)
Low 800 cresit score flexing huh.....
Congrats on the 800!!!
Good analysis. Buyers are in a frenzied rush to buy right now. Maybe seek some advice from a financial planner, as well as your real estate agent and lender. We need someone in our corner.
Great suggestion! Thank you so much for watching!! :)
For me, buying a home means settling and I don’t know where I’m going to be in x amount of years. I’ll be traveling and what not
Thank you so much for watching!! :)
Yes
@lesha you can always sell you don’t have to keep it, buying a home is always a good asset. If you buy now at low interest rate your paying less monthly but if you buy later house prices are sky rocketing so if you buy you can sell later at a higher value. If you buy later prices will be higher
@@WinTheHouseYouLove i get your point but I think you were wrong about renting throwing money away. Some people live in markets where rent is much higher than a mortgage. My house right now would rent for 1500 a month but the mortgage is only 800. The average rent for a house my size is 1300-1600 a month. I get it some people are not smart enough to be prepared but that doesn't mean the push for home ownership is bad.
What flavored chapstick did you use in this video?
lol
Good morning, I am about to buy a home and I was approved for $ 150,000 , I am looking for 3 bd 2 ba 1,023 sqft in Hamden Ct, how much would my mortgage be on the loan
I saw several townhouses and condos homes where the HOA fee are $ 275.00 -$ 400.00 a month a $ 1,800.00 or $ 2,000,00 mortgage, my question is what should I be paying, and taxes range from $ 5,000-$ 10,000 a year. The Bronx New York Stay Coronavirus free
You seem to be an honest person.I apreciate that.thanks
Thank you so much for watching!! :)
GREAT Video! Invaluable Information. Thank you so much for your Time and Honesty.
Thank you so much for watching!! :)
Thank you for being so realistic
Thank you so much for watching!! :)
My husband and I need to move in a few months but I think we're going to continue to rent. We don't have any debt and we have money saved for a down payment but the market is so horrible right now in PHX. Javi convinced me to wait 😂
Sounds like a solid plan :)
Idk what you're waiting for the market isn't going down drastically enough to make a difference. When prices come down interest rates will start to rise. Waiting on makes sense if you're buying with cash.
@@JohnDoe-gc1kt We're looking in a pretty low price range and there are hardly any houses on the market. Maybe that'll change by summertime!
@@mindyzuckerman936 I dont think so but best of luck to you.
Well said!!! Sad thing about this is- ppl around me are not open minded .
Thank you so much for watching!! :) Haha, look at some of the comments on this video, lots of people aren't open minded
Hi how can I get your info? I want to work with you to buy my home
Thank you so much for your videos. They are so informative 😊👏 Much blessings to you 🌹
Glad you like them!
I appreciate this sound advice! Keep it coming!!
Thank you so much for watching!! :)
You know what? I'm not ready to buy just yet..... thanks for this video. I wasn't looking for this video, this video found me.
Glad I could help!
Awesome information! Yet, there is even with the Pandemic a grand shortage of homes for purchase. Mortgage interest rates have begun to creep back up. Who wants to wait to purchase until Interest rates hit the roof? The current Pandemic 😷 will subside hopefully by the end of the summer. Hopefully this will help to increase more inventory. Less people will be out of works well.
Thanks! I think the pandemic ending will cause a lot of relief in lots of areas!
I’d love a video on low or fair credit and planning to purchase a home. Thank you 🙏🏿. Are you from jersey ?
ruclips.net/video/XFGy2cIKiuo/видео.html
Good stuff Kyle.
Thank you so much for watching!! :)
Thank you for this.
Thank you so much for watching!! :)
Being comfortable with the cost was something I didn't know know anything about in the beginning of my home buying journey. Everyone is being told to have a 3.5% down payment. If people don't know all the possible cost to complete the transaction, it would steer them away from buying.
For sure
Looking to buy my 🏡in the next three years, so I can work on my savings...💵💵💵📶😏🤙🏿
(Great Video...🎥🔥🔥🔥)
Thank you so much for watching!! :)
If you can only afford the mortgage if you have a tenant in place paying rent, you should think twice. I've heard a number of people with rosy ideas about how easy it is to get a tenant to occupy a portion of their home, or to take over the property of they have to move in the foreseeable future. If the tenant fails to pay rent, it could take several months, or longer to evict them. You as the owner have to be able to cover the entire mortgage, in addition to your personal housing costs, during this period.
Thank you so much for watching!! :)
Great video . Thanks
Thank you so much for watching!! :)
Love you videos! So clear, straight to point and detailed help for first time buyers who don’t know where to begin! Thank you!!! Do you have a podcast? Would like to subscribe to it if you do? 😁
Thanks! Yep, you can search Win The House You Love on any podcast platform
Keep up the great work! 👍🏼👏🏼
Thank you for this!!
You're so welcome!
Amazing video and concept
Thank you so much for watching!! :)
Hello l have a question what about manufacturing homes do you have any information about that. Like what lenders or programs are out there to finance the home. Please advise
I don't, but may make videos on that in the future
Wowwwwwwwwwwwww this is excellent!!! You’re so right and I waited until now for some of the reasons you mentioned. Now I feel comfortable moving forward and if my voice wasn’t louder then the agent or other people I would have been miserable with a new home. However,. I wasn’t expecting covid-19 to throw a monkey wrench in the process!!!!!! Oh welllllllllll it will all work out!!!!👍🏽🥰🌹 You Have The Best Videos Keep Up The Excellent Work!!!👍🏽🏆🌹
Thank you so much for watching!! :)
I am so thankful for you.
Thank you so much for watching!! :)
Thank you so much for the information, we're looking for a home and I know it's going to back fire on us, am not ready
Thank you so much for watching!! :)
Very dangerous to for people to wait because they think prices are going to drop. That is just not going to happen anytime soon. Maybe in 15 years it might. Prices double within 3 years. Waiting is going to hurt a lot of people.
It will be interesting to see
Thank you!
Thank you so much for watching!! :)
Good advice 👍
Glad you think so!
great video mannn
Thanks!
Amazing analysis
Thank you so much for watching!! :)
I don't know I think you're wrong about getting out of certain situations and buying a home could be a lot cheaper for many people especially if you're renting.
It goes both ways, that’s why I mentioned “depending on your situation” :)
What is the formula in EXCEL on how to figure out a person's maximum qualifying price point? I can figure out all other calculations except for this one and the calculation for the max monthly payment.
Text #maxprice to 937-358-6542 for the Google Sheet (you can download it to Excel, but it won't work in Excel unless you know how to use circular references)
There isn't one formula for it. It's a multiple formulas using recursion to reach an answer.
If a REALTOR, or real estate agent takes you to see homes without seeing your pre approval, and having that “motivations” conversation you should reconsider your choice of agent.
I agree
I’ve heard about these bidding war in this market.. I have put 4 offers so far and won 3.. in a just lucky? I wonder
I'm glad you haven't encountered them!
Lmao did you for three of those did you come in 20k above asking? Lol with waived appraisal contingency?
@@rezo147 No I did not, and I’m FHA their is no waving of anything
@@MrBrownc3cbrown well glad that worked out for you. D.c. area you aren't getting 3 of the four accepted..
I need a pre-approval letter fast to stop my landlord to place house in the market. how I know I'm going to be approve....exhausting 😩
Definitely reach out to a lender asap to help you with that
How can i lower my property tax it is 9k almost in illinois mount prospect area
That would need to be changed at your local government level. So, get involved politically to get taxes changed.
@@WinTheHouseYouLove I also live in the land of Hellinois
It’s a huge scam here with the public sector pensions, etc. Truly criminal what they are getting away with
#1 reason...... average home cost around here is around 500k!
Man I lived 2 years and 10 month at this location. That's about 50k paid in rent. When I move into this place houses were about 30% cheaper than they are now. You telling me that I made the right decision on not buy with a USDA loan. I only had 2k in my savings. I am not sure If I agree with you. I would have been refinancing right now to lower my payments and getting rid of mortgage insurance. Paying rent is a spending problem, pay a mortgage is saving money.
It's all situation based. It's good for some, not good for others. If the video doesn't apply to you, then don't take the advice :)
@@WinTheHouseYouLove It does, cause I don't have a down or enough money for the closing cost.
@@WinTheHouseYouLove However, I still think the best thing to do for me to is to just do it.
@@gladimirsavinon104 If you don’t have money for down payment or closing costs then it’s not a good idea to “just do it.”🤣
@@BrianaBudgets I disagree... If I can pay 18 hundred dollars in rent I can pay mortgage. I just need to choose the right house.
you can live under the bridge and stash all the money you would spend on down payment, installments, utilities, taxes and put it index fund and instead of paying interest, earn interest so one day you can afford to buy a house for cash
If that will make you feel better, why not. Thanks for sharing your opinion.
This guy make sense 💯
Thank you so much for watching!! :)
I owned a house and hated every minute of it.
Well, at least you know now it's not for you :)
Ugh... I NEED my own place at the moment. My credit is at a 620, but could use more work. However, I don’t have any savings. 😩 my drive is there, and I’m dedicated to getting something that accords with my financial situation. Definitely not trying to own a home over my financial means. Just waiting to get my bachelors in May to transition over to a better paying job as well. I can prove steady income since I’ve been at my job for almost 3 years now. The extra money and better credit would help, though. :/
I understand the frustration!! Hang in there!
My desire to buy a house is a result of peer pressure. A lot of my friends are buying and keep telling me I should buy now when the interest rates are low despite me being single and having no kids.
YES. it's much harder to convince me that it's so worthwhile when I don't have kids or a partner, the costs skyrocket for me if I was in a home
The peer pressure is brutal!
Don’t buy because they are way over price.
A perspective
moving is sucks!!
Lol yes!
Dayton oh in the house
Yes!
🐌 👈me on the home buying process!
Progress, no matter the speed, is good progress :)
Thank you for mentioning Zillow and realtor monthly estimates for homes. I am trying to get the home is possible program to help with down payment assistance with a 680 credit score. I was thinking getting a conventional loan because it has better rates right? For a 250k house is a 15-1600$ payment realistic or am I being delusional? Thank you for all your help
It will depend on a few things, especially taxes, but everything included (principal, interest, taxes, homeowner's insurance) you're in the right ballpark
They why are you living in a home tho
I'm not sure what your question is
Why I want to buy...I went through divorce 3 years ago and have been renting 2 br since then. I need more space and rental houses cost more than buying outright. Plus my parents are moving in with me to help. I want a place of my own.
Problem is I won't have savings because I will use what I got to get out of debt but I will never get out of that unless I have a place that my parents can help me with funds.
Sounds like you have a good gameplan on a timeline that works for you. Keep at it and your effort will pay off in the long run
"Putting a roof over your head is naturally going to cost something." Why is that natural to you?
What?
@@WinTheHouseYouLove I asked first!
👍🏼
Thank you so much for watching!! :)
I'm totally # 3 lol
That's perfectly ok :)
Homeboy talks about everything except the extortion that is paying half your income for rent and owning nothing. Smells like a landlord. 👀
I don't own rentals
@@WinTheHouseYouLove Paying 2k in rent is a good reason to buy a home. Probably the best reason.
This video dint age well
These are still all good reasons to not buy a house, no matter the market
The realtor bashing is not accurate. I never let a client write an offer without a preapproval or proof of funds. My goal is to get my clients in the best situation. I frequently advise short term pain long term gain in preparation for purchase. You are making sweeping statements which tar and feather realtors and actually create a level of distrust which creates some of the issues you are discussing. I try never to show without identifying whether the buyer is ready. The reality is there are a substantial amount of buyers out in the market who don't want to be told a) no, b) be questioned as to readiness and choose to not be truthful instead.
How about being as helpful as you are without bashing another industry.
Hey Melannie! I told a story that a client went through. I didn't talk poorly of Realtor's as a whole.
Also, my dad is a real estate broker for multiple franchises... my whole family is in real estate. I have nothing against real estate agents or Realtors at all. Most of my family are agents haha.
I'd be more interested in how that story prompted defensiveness for you.
Great video!
Thanks!