I actually am now encouraging everyone to put at least 20% down now - Many banks are demanding that large of a down payment and it starts you off with more equity and less chance of owing more on the property than its worth as the market turns south.
Thank you for sharing this video. It is EXTREMELY HELPFUL. I plan to buy my first home next month. So glad I watched this video. Thanks for your help.
If the housing bubble never happened, I'd already own my first home/condo. Sadly, that bubble completely messed up the market, and now prices are still way higher than they should be. That's why I've been living with mom the last 4 years. I live in the New England, one of the most overpriced areas of the country when it comes to real estate.
Disagree. The market has not even begun to see the bottom. If a house was 400k in 2002 and its 950k in 2007 and it drops to 700k is that supposed to be a bargin? No it's not. You show me prices in line with media incomes and then I will commit to buy. Citigroup just declared a 10 BILLION dollar loss and this thing has not even started. Buying a house now is a suckers bet.
There are financial benefits to buying a house other than appreciation - Tax advantages, ability to rent a room(s) for income and depreciation write offs if you choose to make the property a rental. If you are unsure and don't want to take the risk, then don't do it - You have to really want to buy in order to make the sacrifices and commitment needed to successfully buy and own a home.
very wise, especially the part about saving at least 10 percent for down payment to prove yourself that you can take on the responsibility of making regular payments towards a house.
I actually am now encouraging everyone to put at least 20% down now - Many banks are demanding that large of a down payment and it starts you off with more equity and less chance of owing more on the property than its worth as the market turns south.
yuppymoney 3 years ago
Nick, do you work in the real estate industry?
papatoony 3 years ago
Thank you for sharing this video. It is EXTREMELY HELPFUL. I plan to buy my first home next month. So glad I watched this video. Thanks for your help.
dhaccessories 4 years ago
If the housing bubble never happened, I'd already own my first home/condo. Sadly, that bubble completely messed up the market, and now prices are still way higher than they should be. That's why I've been living with mom the last 4 years. I live in the New England, one of the most overpriced areas of the country when it comes to real estate.
sliv812 4 years ago
For more real estate tips check out my videos. Subscribe for new ones each month.
ExpertRealEstateTips 4 years ago
right on
MSBIRDOFKINGWOOD 4 years ago
Disagree. The market has not even begun to see the bottom. If a house was 400k in 2002 and its 950k in 2007 and it drops to 700k is that supposed to be a bargin? No it's not. You show me prices in line with media incomes and then I will commit to buy. Citigroup just declared a 10 BILLION dollar loss and this thing has not even started. Buying a house now is a suckers bet.
LeftLiberalSoCal 4 years ago
There are financial benefits to buying a house other than appreciation - Tax advantages, ability to rent a room(s) for income and depreciation write offs if you choose to make the property a rental. If you are unsure and don't want to take the risk, then don't do it - You have to really want to buy in order to make the sacrifices and commitment needed to successfully buy and own a home.
yuppymoney 4 years ago
very wise, especially the part about saving at least 10 percent for down payment to prove yourself that you can take on the responsibility of making regular payments towards a house.
laktobasil 4 years ago
Yep...so that it will not kill you by monthly payments.
pnoyguitar 3 years ago