Think you’re ready to buy a house? The path to get from here to there may seem confusing, but once you understand the steps …
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Think you’re ready to buy a house? The path to get from here to there may seem confusing, but once you understand the steps …
source
[First off, DON'T overprice homes. Alot of homes with siding are old wood rotted. Home inspectors are supposed to check that, too as is considered the exterior of the home layout. Wiring of homes are to be checked throughout the homes, sheds, and garages by a professional electrician. Drywall and ceilings are to be checked, too. Plumbing has to be inspected by a professional plumber.I highly recommend somebody reinspect the home my son is buying. He bought three years ago, which is two lots with three bdrm home and garage. They charged over 80000 dollars, but I dont think was properly inspected by the inspector. Drywall was cracked and falling out. The wood rot under the siding is awful. Theres bad wiring through the home, too. The inslector is to give a price that is reasonable to the costs of fixing the home or if isnt sellable. Arent we supposed to help the people? I helped build homes and wasnt paid a long time ago, but I do know what is wrong with the picture. Everybody needs to do the right thing, to move forward in life. Lets make people happy, again. Whomever is selling the home has to make sure isnt already owned and pay for the electrician, plumber, and house inspector. Also, make sure all work done on the home is already paid for.]
0:53 Loan Officer
2:25 Realtors
3:16
3:42 Inspector
4:03 The Underwriter
I own 5 rental homes now but still live with my parents I can never qualify for a personal home due to government regulations. Makes no sense.
For years I struggled with outstanding debts, bills and my children's school fees. I was at a point where I wanted to give up when I came across YouTube about how to make and multiply your income through passive income. Fortunately, I had saved some money and decided to start investing . Right now I'm sitting on a 440k worth of properties and have paid my debts in ful
u know u dont own it unthill u pay for it so u will own it in 30 years
In my country buying a house takes like 20 minutes without taxes, and other fancy stuff idk what they mean.
You can never own a house in America. The criminal government owns them all. Stop paying property tax and find out!
I'm in Ca 😭😭😭😭😭😭
The fact that the video not even mentions option of buying house via cash without loans proves that we live in distopia
Great video. Straight to the point and very informative.
I’m in Kentucky and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
If you rent a house, you have to pay the first two months up front. If you take out a mortgage, you get a two-month grace period. Life is just easier if you’re rich
Dandre Brooks
It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
This was perfect for our 3rd grader to help her understand where we were in the house buying process. The visuals 🎉
Lewis Kevin Hernandez Frank Hernandez Cynthia
Ok now I need a “how to buy a house for introverts who don’t have friends or references” video
ayo they didn't teach this in AP lang
pog
3.5% down payment loans are why it's all too expensive now…
This video proves that most people shouldn't buy a house.
Can't afford it
Thank u so fucking much
Thank You. Great job. I was well informed
Thank you very helpful with the illustrations with officers, realtors, ans underwriters. Now I see the clearer picture. 🙂
If you find a dealbreaker during the inspection phase, do you get your deposit back?
A DEPOSIT to show were serious? Lol😂 🤡 never
Get a Time Machine and go back to the eighties and buy one for two years wage and a bag of corgettes. I’ve been priced out of my birthplace, Boston MA
Step one: Be born before 1970
If you want a new build DO NOT GET A REALTOR! Realtors will take a commission, so your offer is less valuable with a Realtor, you actually have more negotiating power without one.
Wow! I never knew that! You guys are super awesome!
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Used my VA home loan to buy my first home, ever. Only put down $500, period. And I closed in less than a week.
This is great! Quick, fun yet informative and visual which helps you learn 100% better!
Update
I feel so bad that I was not involve in the process my sister when through
This was very well explained, informative and the steps remain the same even now 2023. We just closed on our home. Thank you both.
I would critique that you missed a very important step.
Step 0 – Get a lawyer. They will be reviewing everything you sign.
Also missed insurance.
This is a cute, old timey video!!!!
All of that just to divorce and sell the house repeat the process and stress all over again 😀
I can’t find a house that I like. I can’t find
• Squat toilets
• Flat roof
• Small fridge
• Less than 800 square feet
• Only one bedroom
• Toilet and shower in separate rooms
• Combined living room, kitchen, and bedroom
I live in America and those are not a common thing here
My Personal Finance class sent me here 😂
It must be very painful to pay huge mortgage and property tax for 30 years in California.
I'm having an argument with my wife about 15 year vs 30 year mortgage loan. I calculated that I would only have to pay 200 dollars more per month $1300 if I took a 15 year loan option, but she is adamant about sticking with a 30 year loan because that's what all her family members and friends are doing. The house I'm trying to purchase is 200K and I calculated that I would have to pay 184K in interest payments at the end of my 30 year loan term and I'm putting 60K as a down payment. I calculated that I would be paying 384K in total for the home on a 30 year loan and 276k total with a 15 year loan. Friends and family are telling me I'm crazy and that math doesn't add up. Am I missing something. Would really appreciate the help.
I have to say, as someone in the process of buying a house, having this outline of the process has been helpful. Also helpful have been my realtor and loan officer, who have both been transparent and helped keep my feet on the ground.
Such a complicated process for the average person. I bet it wasn't near as complicated back in our grandparents day, they seemed to thrive in life
Incredible
Buying a house can be STRESSFULL so get ready. I just bought my first house at 27, put 10% down with a 770 credit score and it took nearly 2 months to get the keys, alot of back and forth, and at closing you sign like literally 100 pages of documents. Your hand it tired at the end of it.
Edit: But it is so worth it. To come home everyday knowing I own the house. Being proud of it. Perfecting my lawn etc. It's super rewarding.
I'm closing on a home soon and came back to this video multiple times to clarify some of the process. It was supremely helpful and I'm grateful for the info. Thanks so much! It's a stressful process, now I'm honestly lost for what to do after closing…I would LOVE a video explaining how to determine what to do with your home once you own it: how much of it to renovate, what will add value to the home, how to source a good contractor, etc.