Here’s why 75% of recent home buyers have REGRETS about their purchase, and the mistakes that you should avoid anytime you want to buy real estate. Enjoy! Add me on Instagram: GPStephan
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC – USE CODE GRAHAM: http://www.public.com/graham
Trade Bitcoin, Doge, and other crypto with zero fees on FTX. Use my referral code GRAHAM and get a free coin when you trade $10 worth: https://grahamstephan.com/FTX
GET THE DAILY EMAIL MARKET UPDATE: https://confirmsubscription.com/h/y/738B303D39689CFB
GET MY WEEKLY VIDEO RECAP: http://grahamstephan.com/newsletter
NEW BANKROLL COFFEE NOW FOR SALE: http://www.bankrollcoffee.com
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF – $100 OFF WITH CODE 100OFF
BIGGEST REAL ESTATE REGRETS:
1. TOO MUCH MAINTENANCE
ONE, a solid home inspection would uncover a LOT of these issues before you actually purchase the home. Just knowing what equipment is near the end of its lifespan, and what repairs you’re likely to need over the next year, is going to leave you MUCH better prepared for when those items eventually do break and need to be replaced..
TWO, expect that your maintenance is going to cost you an average of a few hundred dollars per month, minimum, on top of your ORDINARY payments, just for all the normal items that break, or flat out just stop working because that’s life.
2. TOO SMALL / LACKS FEATURES
The reality is this: most likely… the house you buy now is UNLIKELY to be the same house you’ll live in 15 to 20 years from now….and, on AVERAGE…according to the data…you’ll probably be moving again in 13 years, if not sooner. From this perspective, any size setbacks are only temporary…most of the time, you can make it work…and there’s NOTHING that says you can’t make adjustments in the future to get a different property that fits your needs a little better.
3. MORTGAGE PAYMENT IS TOO HIGH
The best way to deal with this is to have a strict budget in mind, AHEAD OF TIME – and ONLY PAY up to the point where you wouldn’t regret walking away from the deal if it goes above that amount. This is going to prevent those buyers from getting “Caught in the moment,” overpaying because they don’t want to lose it, and then eventually realizing that – maybe – they paid more than they needed to.
4. THEIR HOME WAS A BAD INVESTMENT
The issue is I SEE is that – most people buy a home, at the TOP of their price point, while maxing out the most that they can quality for, without fully understanding the costs of owning a home. This leads to OVERSPENDING on a property that might COST MORE THAN IT APPRECIATES…and, quickly becoming “a bad investment.”
In terms of running the numbers for yourself to determine if buying is the right choie…The New York Times created an incredible calculator to determine every aspect of home ownership, and if it’s cheaper to buy or rent based on your own neighborhood and tax bracket, so I’d highly recommend to check it out.
https://www.fool.com/millionacres/real-estate-market/articles/new-report-says-more-millennials-giving-up-on-homeownership/
I generally encourage ANYONE who’s buying a home, to do so with the expectation of living there at least 5-8 years…understand WHY you’re buying a home in the first place, and what problems that’s going to solve…and, ANYTIME you’re buying ANYTHING…never max out what you’re able to purchase. That way, in the event of a job loss, or a reduction in income…you don’t have to worry as much about unexpected repairs, or a higher mortgage than you would’ve liked…because you’ll KNOW you prepared for a buffer to make sure you have enough to continue making payments.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
I will rent the place, store all the unwanted junk there and won’t pay a cent. F*** em !!!!
Graham, It’s going to depend on supply. If supply does not go up I think the market will stay high.
Advice on home inspections make sure seller isn’t there by asking that you must be present during inspection learn from my mistake.
Imagine spending hundreds of thousands of dollars and getting into debt and NOT getting everything you wanted… SMH
Imagine spending hundreds of thousands of dollars in rent and NOT getting everything you wanted… then walking away with NOTHING.
@Red Heart Ive rented for over 25 years and whenever I walk away, I walk away with a fat bank account and my new place always has fresh paint and new carpet. “ownership” (you never really own) is not always the right move. I have more money invested and in savings than any home “owner” I know. And most of the home “Owners” I know have barely touched their principal.
3800sf is more than enough space for most any family. Think about average square footage of a home in Europe. Us Americans are all about excess. Be content with what you can afford.
That was the old style. Now home owner won’to fix anything for free, you have to buy out of your Pocket
Here’s the f- real answer—— if you think the property is worth more than the asking price and you genuinely like it, buy it and f- everything else.
This answer works if you have lots of monies.
If a house is paid for, can you take out a second mortgage?
Yes you could cash out refinance.. essentially cashing out 70-80% of your equity, and mortgage
I smashed the like button.
Well instead of seeing the picture of the possum I would’ve much preferred a cute anime girl but okay.
ZSAN — THIS STOCK WILL DOUBLE BY 24TH MARCH – BUY — GOOD LUCK
Here’s the number one thing you can do to not regret your homebuying purchase don’t be a dumb ass do your research and shop around
Wanna come to some things I am very lazy and moving is one of them in fact I bought the house that I was living in and pay rent because I did not want to move so instead of moving I bought it and now I don’t have to move yay
OK so nobody should be regretting a mortgage payment that’s too high because the bank tells you what the payments going to be if it’s too high don’t do it
I live in Palm Desert, California. Your program is helping me and many other people. Thank you
Graham, there too many ads on your videos. I can’t set it down to play and listen in the background while I’m busy doing something else nearby.
put a rotten cardboard next to a broken down house that sh*t will still sell. That’s crazy how people are buying lol
Possums freak me out! But thank you
I think Graham says the word “Survey” more than any other financial YouTuber haha
So buy $ZG stock since 97% of buyers shop online
Bank roll Coffee, more than Bank rupt Coffee, haha
Savagery 😛
We’re paying 45k over asking on a 2 year old home in Las Vegas. 23k out of pocket after appraisal. Our rent was going up to $2600 from $2100 and buying is running about $2400/mo. You determine how much having a home is worth to you.
In some situations it is the right choice, but rent to mortgage have a lot of differences. Rent covers any problems w/ the house, often times water/sewer/trash/lawn fees, and you can pick up and move. Mortgage is the bare minimum you will pay, in addition to fees listed and potential repairs.
Will watch later but agree with the title and the intro
Graham what do you think about Roberto Kyozaki
Smash the like button so others are more informed!
I just backed out of buying a house for those reasons. It was far away, built in 1800 and septic, leech field, boiler past life. I had some cash but to many questions. My heart broken because I loved the house and fear I will never find a house with same view for same price.
That’s tough to read Diana – but there is always something else 🙂
What about buying a home this year as an investment property? 🤔
The same analysis and issues apply, though interest rates are typically higher for investment properties – still, purchasing an investment property now makes as much sense as ever if you’re in a strong financial position and don’t make an unwise purchase!
I enjoyed the video but just letting you know the subtle ads were heavy in this one and it’s enough to turn people off. I think if you continue like this, then you’re going to hurt your subscriber retention and dissuade newcomers from subbing.
“Garbage disposals last a few weeks”. They are pieces of crap 😂
Good insights Graham, thanks!
I close on a new build next month. 21 years old. 292k – 20% down. Hope I don’t regret it
Awesome video. I currently pay $1770 on a rental property fearing that my rent would go up in Colorado. The landlord decided not to increase rent. We looked everywhere to rent and apartments Average about $2000-$2200 for a two bedroom. Homes average about 3k 3.5k without 20% down. We are currently holding off until next year.
Anyone else feel like if graham keeps using clickbait titles, ges gonna hurt his channel in the long run?
My first step is checking the racial demographics of the area. That usually reflects crime rates and safety
Just closed on a home on Monday. We were approved for $350,000 but chose to spend $215,000 ($20k under asking) on an older home that was completely remodeled. Rising rent prices in our area are still skyrocketing and our mortgage payment is only $1,375 while we would be paying much more than that to rent the same amount of square feet
@JoãoPortugal86 we are in East Texas, and while it’s hard to believe the politics of our state are changing and it’s almost 50/50 at this point. No income tax has attracted a lot of people from other liberal states with the lower cost of living.
Not a bad place to land. My wife is from Spain and there was some cultural adjustment, but not everyone is a gun totting cowboy.
@Marco Chavane If we enter a world recession the tenants will lose their jobs and can´t pay the rents. For the owners it will not be good if they have mortgages and if the owners can´t pay the banks will try to sell the houses. A lot of houses for sale in the market and the average prices will fall and this is the scenario i´m a little bit afraid. Here in Europe now is the time to sell or wait for after the crash to buy!
@Marco Chavanne I’m thinking between Florida and Texas. I would like to go to California, but taxes are very high and there are many homeless people living on the streets! And since I don’t like the cold, going to the North of the US is not a solution. Until 2023 I will then choose where I will go!
Sometimes I travel to Spain. Region of Andalusia (Ayamonte and Huelva) I still have to learn to speak Spanish, because I always speak in English. 🙂
That’s a lot 1,375 what is your interest rate?. is that excluding your taxes and home insurance to ? Hope so for that price. Because your house only 215,000
@Nick J that includes escrow
Very good
If you are never satisfied with the size of your home, that actually is not normal. Constant excess can be damaging to the human psyche.
100% – people need to be more mindful with respect to this on all fronts. You can always have more of something, so seeking that is a never ending task and you risk never being fulfilled
why not buy when prices will keep on going up.
Yep … people have been calling out a ‘bubble” for ages but the supply chain issues are going to keep scarcity and demand variables fairly steady to the point you won’t ‘regret’ it if you don’t over-leverage and you hold the property for long enough (which you should do in any circumstance…)
And… i was just thinking about finally moving..
Do it …
Hi graham
Plz shout me out
I’m small YouTuber
Great video Graham. Many young people look up to you as an example. I recently paid cash for my first home, which I purchased two months ago. While watching this strange video, I feel very proud of myself and my accomplishments. I’m so delighted I made wise financial decisions that have impacted my life for the better.
Always finance with a broker. They shop the loan and you don’t pay them to do it. The lender does.
Graham you keep giving an example of 400k house. Where is a 400k house? I live in California and there is no such thing as a 400k house….
As a licensed mortgage loan originator, people come every day screaming about rates but “saving” that extra $1-3000 over the course or 30 years could screw you over if that lender can’t close on time, or doesn’t keep up with you to get all the documents you need in. Do your research and ask the lender what sets them apart and if they only comment “low rates” then go with another.
?
Hi Graham
I’m an AC contractor. A roll of silver tape was 8.50 bucks a years ago. Today it’s 16 bucks. Now apply that to a few hundred things And let’s go Brandon
Seems the prices are only going to go up. I may not ever have a chance to buy a home.
I’m curious to know what you would think if my first purchase was for a rental and the “profit” I make would be set aside for maintenance and how much of that should be set aside for the maintenance.
Graham has FANTASTIC financial advice. However, his vids are clickbait.. but they have to be! It’s his business. Remember fellas, never overreact or under react. Just react
Clickbait
Love that, garbage disposal last only a few weeks but I believe it. I can say I have never broken a single one, even fixed a couple. I plan to buy in a couple of months, leaving the city though and going to buy in a small town where the closest walmart is over a hour away. As long as I have fast internet and can have things delivered then I am good.
Put some base in your voice
You have an annoying voice but you’re hot! Cute dude.
My guy hasn’t aged a bit since 2008 lmao
Why I regret subbing to graham in 2021:
I was actually about to buy a house. This video has convinced me to wait a bit.
@Mike Walsh I just don’t want to have to offer over asking price
You be paid more next year
As a civilian I think realtors are the scum of the earth, creating an inflationary industry that piggy backs on the property market. As an example I’m looking at a property that was purchased in 2020 for 108k that is listed currently for 245k. Another purchased in 2019 for 185k, listed currently for 275k. BOTH ARE VACANT UNDEVELOPED LAND. GFYS.
@Nathan Barnatt it’s not that simple which tells me don’t understand real estate yet. Which you shouldn’t buy real estate until you understand.
@Blake Zegarelli I understand enough. I’ll wait till it’s a buyers market and I can offer under asking. I’m also probably going to wait till I can just buy one straight up with cash next year.
This is just the beginning
Wow that intro really hit me funny lol that’s new
If you get multiple quotes from banks 🏦 doesn’t mess up your credit?
Thank you Graham for the information. I’ll be investing in Real Estate by the earnings from the Amazon business.
Get a house, I rent to people that recieve government assistance so it is a win, win.
Finally something that feels a little more original. Thanks Graham. Also where do we go to suggest videos for the graham Stephen show? I’m going to be doing a home tour of my new home and analysis and sure it may not be interesting compared to big millionaire homes, it may be some fun data for a millennial buying their first home.
To me, this was one of your most informative videos Graham. Thanks!
I bought my townhome in 2014 for $135k and just sold it for $255k. I am applying $100k+ to a 2700 sqft single family home in a great community. My wife i like in our area for $380k at a 4% interest rate. We were on a 10 year mortgage and now going to a 30 year fixed for about $150 per more. I am very happy for my decision as wife is pregnant and will have our own house. Also in new house the inspection was almost clean but ac furnace has 2/5 years left. Everything else is newer and house was mint condition and the owners moved out already…. We were looking at houses $430k plus but wasn’t worth the price as most had major issues but we went lower and so happy on our decision.
I bought a home in Oct 2021, I don’t regret buying a home I just regret buying the home we bought. Nothing in our home has broken, thankfully 🙏🏽 the ac and roof are both new but it’s a dated home that needs a lot of cosmetic help therefore, a lot of money. Also, the biggest issue is that since it’s any older home it creaks so much. And floors, walls and ceiling are incredibly unleveled, sloped and uneven. We did not notice this during our walk through or home inspection. I think because of how the furniture was laid out.
let me guess – no inspection? Uneven means structural issues 🙁
home cracking on its own when it gets cooler is not what I expected. lol, still its better then renting and I don’t plan to do much other than small updates here and there even if it doesn’t look the best. Its not my forever home.
Innovation is matter. Thanks for watching and don’t forget to hit the subscribe button for more tips and advice, I hope you enjoyed!
@Jason Zola we had an home inspection, I mentioned it in my comment above. But if you look up about old homes, uneven floors and walls are normal because the house has settled. Also, who’s measuring walls floor to ceiling during an home inspection?
If you scroll through all of his thumbnails, it looks like an ad for a new depression medication🤣🤣🤣🤣🤣
We are a cryptocurrency project and want to find you for advertising business cooperation. If you are interested, you can talk about the specific details in detail.
With that being said they need to present 40 year mortgages
These rules goes for everything!
Most people have no idea what’s the real aquisition/mantainence/oportunity cost when buying stuff!
That’s why so much people buy so much crap!
How many idiots on Facebook go and post “gee that rent is about the same as my mortgage”. Shocking how many dumb people there are.
Buyer should really go with a friend or family member who has some experience. Or at least write some questions down. To ask. It’s unfortunate to lose your home.
I literally laughed out loud at the garbage disposal bit—you’re the best, Graham
As a young renter & real estate agent myself, your content is always equally helpful and entertaining! Thanks so much 🙂
I love your content keep it up! Do you ever advise people to shop for realtors who will take a lower commission like you advise them to shop banks?
Thank you, and thanks for watching ,Glad you have enjoyed!
Whoa whoa whoa Graham 00:02 whatchu doing not saving $$$$ making your own coffee at home?
uhoh
Great videos, starting to advertise a little too much tho.
sorry :/
Is a gift of equity a good idea?
With that 12 % increase plus 300 % increase in Vegas sounds like this guy want you to stay a renter🤣
I feel
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Mr Jeff is my favourite when it comes to trading btc. honest and straight to the point
Jeff is reliable and responsible to trade with , i was able to grow up my BTC from 0.59 BTC to 4.2btc in four weeks 👍
Trading bitcoin at this present stage of the market is just the best decision and thanks to Jeff Erno whose strategy/signals has kept me earning more and more ❤️
Jeff Erno👌💯made winning my culture, I regretted not knowing this way of trading bitcoin a few months ago before I lost, it’s all great, I am recovering 🅰️nd I’ll never forget that good deed
These bots are good…. What is this…
Dont fight the trend , as well as other variations such as “never catch a falling knife” are classic adages. the basic things that traders should avoid attempting to predict trend reversals , or even worse, i believe there is more to this market than most currently understand
You know he just had one of his tenants tell him they’re thinking about buying a house. 😂
We needed this video last year 😅. Still thankful we were able to buy and thankful for a home but yeah 🤣
Suddenly, my fate of renting forever doesn’t seem as bad… my sleep issues are probably why I’m always negative
Garbage disposals a few weeks.. Lol… So true!!!
There’s a newly wed couple, in their 60s. Breaking ground at the historic spike of the market. Not to mention interest rates will rise before they even close…these people already have a home in spite of such poor decision making. I won’t feel sorry for them when the market correction hits.
I bought May 2021 and equity up by 140K …boom! yeah! boom!…glad i didnt wait
Really loving the intro on this one, always keepin us on our feet
Do you know of a similar NYT calculator in the UK?
GT-40
What are your thoughts about acution
Gave a like after the first five seconds of the intro. That was a good mash-up lol!
When you mentioned about the payments being too high @ 7:00 mark, you left out a huge point. Property taxes. I knowingly moved back to NY state after living in MD for a decade, where taxes were much lower. The portion of my current mortgage payment that goes to escrow, to cover taxes and insurance, totals over $1700/month alone. Most buyers are only looking at the principal & interest, when choosing a home. Adding a couple grand a month for taxes isn’t as obvious to most buyers.
” whats up Graham it’s guys here” lol
For inquiry & consultation📩👆🏻
I don’t regret, I just got what I can afford. My main issue is the noisey neighbors, but its quickly changing. Still, this is a starter home and might not end up in the same state. Plus now I really know what I want in my home.
ʜɪᴛ ᴍᴇ ᴜᴘ.. 👆👆👆
My advice to new investors: buy good companies and keep them as long as they are good companies. Just do this and ignore market predictions and opinions which are funny at best but completely useless.
Just because a stock is going up doesn’t mean it’s a good investment, Just because a stock is going down doesn’t mean it’s a bad investment. there’s more to a stock than just its price. Focus on the company, not just the stock price. true words from my Nicole Ann Sabin…I made over half a million from TSLA, AMD, NVDA stocks and call options.
@Anthonio Rodriguez< Pretty impressive, I have been on the wrong side for far too long and I'm willing to make consultations to improve my situation. Can she help me?>
@clark Nicole Ann Sabin< I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven’t regretted doing so>
@Ivy Theodore I know Nicole Ann Sabin. She obviously brings a lot of experience in trading to the table but more importantly I think she is a tough person in an industry that demands clairvoyance.
I am in my due diligence period and really want to back out. I am paying $45k over asking price and 4.1% interest. I am in Atlanta. Thinking of waiting. I am 25
You probably should. Just consider the massive amount of cash that is also needed to close the transaction. Not to mention ongoing maintenance and repairs.
Oh yeah. back out, 45 over asking price no no. And you pay higher in interest rate to, I would say do it, if the interest rate was 2.8 or lower. If you pay $45 over asking price the house got to be moving ready, I’m talking about updated to standards now. If it’s not updated you be a fool. Then you looking at about 80 grand to close. I can imagine how much the house costing you
In an environment with high inflation, there is no guarantee prices will decline.
man i just want a home to live in thats it , sick of this
👆👆📥📥📥
Send a direct message for lnquirues & consultation 📩📩
Graham, don’t be a heathen by raising your pinky while drinking coffee.
For investment guide 📩👆🏻
I thank you and I will forever appreciate this channel , you ve helped me and my family alot in your videos,advice,lesson and funny words are inspirational and helpful .my family and i have been able to minimal,conscious in spending,saving and investing wisely,I now earn every week you’re sure a blessing to this generation,we all love you
The world is gradually moving out of the I work for my boss era,and people who choose to be entrepreneurs are highly securing a brighter future for themselves.
Good investment are life savers.
The best time to plant a tree was 20 years ago,and the second best time is now this is not the first time I hear people talking about this man called Pierre
I think this is the opportunity’ for me to take a great step,
I base in USA 🇱🇷 and I hear people are making a lot of cash from forex trading
Hi there! I hope you are doing great! Sorry to intrude, please allow me to introduce to y’all the Dimitra.