I bought a house as a 23 year old new grad. Here’s how (New York, unconventional advice)
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- Опубликовано: 16 июл 2024
- Questions? Do let me know down in the comments! Instagram: @ sharonyeunkim
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TIMESTAMPS:
INTRO: (00:00)
Building Early Finances: (00:20)
Unconventional Partnerships: (03:38)
Why 3.5% down isn't accepted: (05:14)
Renovating for ROI: (07:30)
Outro: (09:56)
Leave any questions below for a separate Q&A Video!
TLDR: She makes 6 figures from her full-time UX design job and she split the cost of the house with her brother
Thisssss is a realistic depiction of the process, a lot of people romanticize important things like home buying to a point where reality feels like a slap in the face because you've only ever seen best case scenarios in research. Thank you
I'm 28 and I don't have a job right now because I quit my job and failed at my first business; at first I found this intimidating when I saw it on my feed. It was an instant mirror and I internalized like whoa, someone who is 23 bought a house and I'm unemployed... I'm a failure. But I am here because I think you deserve the success and this is something that really must be celebrated. You are an exceptional human being. I found this channel through your Onnit video from way back and it opened my eyes and helped me a lot as I pivoted into UX design. So Congratulations! And great work on the house too! Live long and prosper.
Thank you for the comment. I can’t say that I don’t have my unique set of circumstances that gave me “unfair advantages” in some regard- and it def can’t apply to everybody. But I think the overall point is we can only do our best at what we can given our unique circumstances. I just did what I could with what I had and I just so happen to have a younger age to it. I also bring up the things with buying with siblings because that can be something others can try to do as well if you can’t do it alone. You’re never a failure, because I think that means you’d have to be on the exact same path as somebody else which is never the case. I just think it is doing what we can and picking/choosing what we think to cater to our unique situations~
Sharon congrats! I also love this. This is exactly how our parents grew up me and my sister as well and we have been thinking about buying a place together for a year. Seeing that you did it just made me more hopeful! We’re trying to educate ourselves on the subject since there are many things to take in consideration but yeah fingers crossed!
And congrats again! Can’t wait for this new chapter of your life ❤
!! Yes I hope this is an opportunity that’s talked about more of the situation permits. And I’d love to do a follow up video if that helps. You mentioned you’re trying to educate yourself more on the subject. Is there anything in particular about that which would be helpful?
And THANK YOU!!
Congrats Sharon this is inspiring for other designers and creatives to be able to achieve their goals!
Thank you 🥹
Wow, you seem so knowledgeable. Really impressive, Sharon! I totally agree with picking a house based on the things that cannot be changed FIRST.
Congrats Sharon ❤️❤️❤️ you’re amazing!!!!
Been waiting for this to come out 🎉 congratulations babes ❤
Congrats Sharon, you’re really inspired me 👏👏😍😍
It's amazing to see your journey Sharon! Your new house is beautiful
Appreciate you Lillian :,) hope to catch up soon 🤍
Congrats, Sharon! ✨🔑 would love to see a whole house tour!
👀 definitely!
Hi Sharon! Watching this actually motivated me a bit. I wanted to thank you for that and congrats!
:) thank you! Wishing the best for you.
Congrats! 🎉
Thank you!!
Love this video and how you talked about your journey :)
Thank you Katherine!
The first bid I made was an FHA loan with 3.5% down, but the sellers agent rejected these offers for “better terms” and were told it could prolong the buying process since there may be more stipulations. Basically, I had to apply for a traditional loan and bump up my down payment along with offering a significant amount over asking on the next home.
Yes. It’s so so competitive 🥲 had no idea how much it was.
Hey friend, yeah same… I did make an offer with a FHA loan back in 2021? And it was bad faith, and had to work hard to point out the breach of contract and pull a family contact who’s a contract lawyer to check that I was right before I had to fight my own hired lawyer because he was a family friend of this terrible realtor I agreed to work with from Zillow.
After that horrible experience it took me another year before I found a place and due to competition I had to put 30k down payment with a traditional loan - but mortgage broker company the offering the seller a cash offer. Even with this I was technically in a bidding war still anyways because my city’s real estate market is wild.
So yeah next time someone says if you don’t love the place don’t get it… I would probably say otherwise … and if the market is competitive like it is/was I’d tell people I care about how to recognize which negatives are worth accepting.
can you talk about managing your social media? like do you have an LLC and PO box? I think this part is very intimidating
Ooo yes good idea!!
congrats :)
Thank you!
Congrats! Your house looks great!l
Thank you!!
@@sharonyeunkim You’re welcome.
Congratulations, waiting for the house tour since you post that post on insta
👀👀 yes
Congrats🎉
Thank you!!
Congratulations!!! When did a 3.5% down payment become an option when buying a home? At least a down payment of 20% has always been the “rule.”
Offering a 3.5% down payment option may enable people to buy a home, but that doesn’t mean they can afford to live in their new home.
I watched a story about the rise in home foreclosures. I had no idea the number of homes which went through foreclosure … tens of thousands. Surprisingly, Texas is the state with the most foreclosures!
Congrats Sharon!! 🎉 question - how did you learn how to do the renovations for the house and stuff? I'm trying to do on my own to save some money but I'm not sure where to start.
I LOVE the moldings you added to your walls. Do you mind sharing what is the height of your ceilings? Im trying to figure out if it would look similar with my ceiling heights.
YT recommended this and I’m glad I watched it. Thank you for sharing your story. People may not appreciate how many thoughtful and strategic decisions were made to accomplish this. Would love to see a video like this on your YT journey. Did you delete some old videos? Surprised to hear you have done so well monetizing with so few/infrequent videos relative to when you started. In any case, well done on both YT and your house!
That’s a good idea. Definitely want to do a follow up. Besides RUclips is there anything regarding the real estate process or whatnot you’re curious about?
@@sharonyeunkim Looking forward to it! I am also a homeowner and in tech, so I will be checking out your videos around your tech experience. For homeowner content, I would be interested in the DIY renovations. This format was really enjoyable, I am a fan of storytelling with tactical steps.
I bought a duplex with my brother when I was 18. I would 1000% recommend if you can’t get one by yourself. But there are some draw backs to consider. The main issue that I’m experiencing (now 8 years later) is that my brother moved overseas and our income is on two completely different levels. The house needs some very expensive and major repairs that I’ll likely need to just suck it up and get them done myself. This is extremely stressful considering I’m doing a renovation on another house atm. It’s not the end of the world and I’d always do it again but we’ll likely end up selling because of this. Def gotta consider your siblings life goals and career when buying a home with them.
Definitely, things happen! From the sounds of it it appears you two have a good relationship. I think as long as there’s good communication and you’re willing to work together- when things happen (as they always will) it’s more about to to work together moving forward. I wish you the best on your new renovations and all.
This was great. I wish someone would have explained it to me when I bought.
Thank you, and which part makes you say that?
Stop saying you’re not from a wealthy background growing up with food on your table every day to parent home having to literally humans invest every dime that they made into your future you are not a self-made success you were able to buy a house at 23 because your parents sacrificed their life for you and you were enough of a decent human being to actually do something with it you are extremely privileged and you did not do any of this on your own you’ve never even been alone in your life
Congratulations! I moved to FTL from NYC, as Miami is my hometown. I bought a 7-figure home as a millennial young doctor (DNAP) by myself. Just don’t be a landlord in NYC, it will be hell to get someone out, and they can go months to years not paying you rent. NY is not a landlord friendly state.
Hey that’s amazing! And absolutely agree- esp with squatter laws it’s pretty dicey. At least for us if we are to get another property for specifically investment it def will be outside NY. This was planned to be a family home long term, if not that we’d eventually sell.
How she did it? Be rich and don’t be poor. Easy.
Not to dwell or elaborate on past circumstances, but me and my family were very financially challenged. Did not come from money by any means. Not easy to get here, but not impossible.
First off, congratulations! 🤗 But do I have it right when I say you bought this with your brother and so I assume he's living there with you? If so, I get that it may be a cultural thing, but what do you do when either of you find a partner that wants to live somewhere else? One has to buy the other one out?
Hey! Yes I bought this with my brother and we live under the same roof. If either of us were to get a partner, depending me or him would move out and the other would most likely pay the full mortgage of the current as that would seem fair. Say if either of us are not able to cover the full mortgage then at least chip in what you can to cover some of the mortgage while the other moves out if they’d like. Another option- if the new partner is okay with it, then could also live all together under the same roof. I have a friend who lives with his sister and brother in law in the same house.
Could definitely be cultural. I think Asian society places more emphasis on communion and family working together more than the states. But it’s effective. I’m very Americanized but that cultural influence still lingers although it def is not common. Everyone in the family has to make sure to consider the other person though regardless.
Even with some rich families they live with siblings. Different scale though. They have their own communal compound but individual houses. Some live in the same building but live in different floors. I mistook a set of townhouses for open house and it turned out the owners were all siblings. They have their own guardhouse.