Dave Ramsey's Steps To Buying A House

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[@Leesa_T]

"Everybody tells you to run out and buy a house, but everybody's broke...so don't listen to them!" That line took me OUT! LOL! Love it! Dave Ramsey is awesome.

[@hothotheat3000]

He didn’t lie lol!

[@kbanghart]

I did, and it's working out for me

[@deltron9322]

Yes I laugh when they say it’s cheaper then renting

[@gd2561]

So glad you found him! So much great content.

[@SunnySJamil]

That quote was at 3:17, for reference.

[@karolinrose]

the home prices in my area around Toronto START at $800,000..... that's $160,000 downpayment and $4,500/month. If $4,500 can't be more than 1/4th of my take home pay that means I need an annual income of $216,000. What a great time to be a millennial fresh out of university.

[@billjohnson5137]

Exactly. The area I used to live in California is that expensive. The only people who own homes are: Top 5% of income earners Mommy and daddy bought the house outright or at least put the down and co signed Both professional husband and wife that are in top 10% of income earners that make over $100k Divorced from a rich man Bought first house over 15 years ago. Younger middle class people are completely priced out of the housing market, probably forever, in many areas in the US. The reason why its so high is foreign investment and corps and llcs buying. There are almost no 1st time home buyers in the market.

[@trickster08311]

Then move.

[@bennalbrecht]

Obviously the income in that area is high so unless you make a lot don't buy in that area... Just because I live near NYC doesn't mean I need to buy something there

[@karolinrose]

@@bennalbrecht the average income in Toronto is around $80,000 a year. So no.... the income in this area is not high... Most people were born and raised here, with family and friends and a job and a life.. You would have to move more than an hour drive away, 2-3 hours if you drive during rush hour traffic.. to be able to afford a home according to Dave's plan. Dave's plan would work perfectly for someone living in a small town with low cost of living.. doesn't work for everyone though

[@bennalbrecht]

@@karolinrose I could I agree with you but I don't know where you're getting your information. I doubt every House nearby is almost a million dollars

[@alondrarodriguez1985]

I was able to buy a home on my own with no agent and the seller sold the home to me without an agent so right off the top we both saved. I researched for the best loan and interest rate and was able to get a great loan. I also researched buying a home and we paid for an appraisal and an inspection. We split the closing costs. It was great! I saved 8,000 by not getting a realtor. All I had to do was research and we closed one month later.

[@lewdyperalta7171]

Why doesn’t this comment have more likes ?

[@elberolivo4970]

If you were the buyer you do know you don’t pay the agent right? So you must’ve saved money when the appraisal came back because it came lower than purchase price or the seller cover closing costs. Both could be done with or without an agent.

[@loungydoc]

Of course the mechanics says you shouldn’t ever fix your own car

[@giuliaquingalahua7300]

How did you find the seller?

[@brandonmcgregor7527]

The buyer does not pay the agent

[@mavilmaloco9276]

@Dave, you replaced Netflix in my life

[@eamonshields2754]

Much better use of your time

[@amandaarellano1138]

SAME

[@TheGentlemansKitchen]

@@eamonshields2754 much better use of her money 😂

[@KaranSingh-ff5sc]

I was about to save that too.. 😀

[@worldshaper1723]

Amazing!!

[@robertolmstead1346]

Don’t buy if you are unwilling to commit to a job or location for the next 5 years

[@cncgaming3457]

Robert Olmstead or else what will you do, rob?

[@jxsilicon9]

You can rent it out.

[@EmpireTextbooks]

Robert Olmstead Dave can do this because of this show that he has, not his investing strategy (which made him bankrupt in his 20s by the way). You’re better off buying a 30 year mortgage because your monthly payment will be lower, so you’re less likely to not be able to afford your bills each month.

[@tiendoan1333]

​@@EmpireTextbooks No, if we are talking about monthly payment. The longer the mortgage, the less you will pay monthly. The way I paid for my first house was with a 15 yr mortgage at a 2.78% interest (perfect credit score melefucker!, plus some negotiation). Pay it off within 2 yrs of owning the house. Now, I'm renting it out to 2 families (through Airbnb) and making 3K/month passively from the house. Now, I'm working on rental properties.

[@EmpireTextbooks]

Tien Doan ok agree with what you say...not sure why you think that’s a rebuttal to what I said

[@Devinfrbs]

Wait... your buddy was able to buy a house just out of highschool? Times have changed.

[@maxrobley4200]

Dakota M location has a lot to do with it too. My job is unfortunately based out in LA. I make 80K a year but I’ve got no chance of being able to afford a house here.

[@BIG2hats]

You could buy a house for 25k back then, you’d only need like 3k to purchase the house

[@Devinfrbs]

@@naddarr1 Yes, that's why I never mention dollar amounts. However, the ratio of income to house price was significantly lower. So while you only made 10K a year, it was still only a third of a years pay. An 80K down payment nowadays (60K average salary where I live) is more than the average salary per year. So we are, relatively speaking, required to save 20K above our 1 year salary So the ratio is 1/3 annual salary for the 1975 home, vs ~4/3 annual salary for the 2019 home. Part of the real problem is the fact that homes have gotten bigger and fancier. It was really hard to find a house < 1000 SqFt that I could buy.

[@JenniferH1724]

Mind sets have changed. We bought our house cash 15 years ago.

[@andreakae4211]

Dakota M sorry but housing prices have inflated 200x more than income in the same period. We can’t keep saying people just aren’t working hard enough because the economy is completely different than 30 years ago.

[@Andrephylis]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@Andrephylis]

@TimothyHartley. However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

[@Andrephylis]

@TimothyHartley. Judith Ann peace is her

[@Andrephylis]

Lookup with her name on the webpage.

[@Andrephylis]

@TimothyHartley. You are welcome

[@crow-vz5lx]

I literally build my own PC's and repair my car, lol but I understand what he's saying about the house

[@thescrub4279]

Generally I agree with using a realtor...however. When we went to sell our last house all the realtors (we got quotes from several) were telling us to list for $175k, but we knew from doing our own comps it should be way more. We listed it ourselves for 225K and got a full price offer on the first day, we made no concessions or repairs. So in my case, not using a realtor made us $50k.

[@Adam-vp4oe]

In my region they list low to create bidding wars. People pay 20% over asking all the time because they’ll have 20 offers. Just the nature of our market.

[@threadoflife]

The FlyingScrub fsbo I want to try this so bad, there aren’t any houses in my area for less than 300k and I really think I could sell my house myself fairly easily. I don’t want to pay someone with a buyer agent 3% either just crazy to me. Maybe I will try the Face Book approach like you said and just put nice pictures up and hose the open house myself. It’s hard to do when I have 2 roommates and have two small dogs but I agree this is a much better way to go. More money in my pocket. I always hear realtors say don’t do that though your house will just sit. I have a friend that’s a realtor for a long time said they would only charge me 1% to sell so that’s pretty decent I’m just dreading the person that comes in with a buyer agent wanting their 3% 😡

[@deanslegos1990]

I used to think realtors just showed houses and did paperwork. I'm in closing and learned they also make phone calls. I'm buying a house for 60k and this firm is charging 3%, which I'm not paying for. When it's time for me to sell I'll either be a "certified" realtor somehow or I'm going to do for sale by owner. It can't be that difficult, I think people just get mystified by paperwork.

[@groofromtheup5719]

@Ziggy Zig The buyer will probably needs financing, so the finance company will dictate everything. Got to use their appraiser. They will say who to go through for the title search, etc.

[@groofromtheup5719]

@Dougie how do you decline an offer of full asking price if the hoped for bidding war fails to happen? it is your ASKING PRICE.

[@MichaelDavis-cj1yj]

Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.

[@mkite715]

Debt free as of 6 weeks ago thanks to Dave! The lease on my expensive downtown apartment just ended, so I used it as an opportunity to move to the burbs and rent a cheap place for a year, build my emergency fund, and save a down payment.

[@r3d_ti3_guy]

Michael Kite 38yrs old, selling my home & decreasing my cost of living as well. Never too late is it? I find it interesting what all I can do without and still be very comfortable in terms of possessions.

[@waterheaterservices]

Congratulations on your success and hard work.

[@danaszalajeski4416]

Good job @Mike Kite. You want to win and are going to make it happen!!!

[@Lov3lychriz]

Great plans. How is it going?

[@mkite715]

dyva lei It all worked out 🙂I put an offer on a townhouse in January and closed in March. Moved in a few weeks ago. It was a long road (baby steps 1,2,3, and 3b) but totally worth it. So glad to be out of that horrible apartment and into something much better. Followed Dave’s advice on buying: 15 year fixed mortgage where the payment is no more than 25% of your take home pay. Mine comes out to around 15%. I feel blessed and thankful to have cleaned up my act before corona virus. Being debt free with a six month emergency fund and a tiny little mortgage feels unbelievable. I don’t say that to brag, I’m just saying I’m a completely different person from who I was two years ago. Out of control with no plan.

[@InnKogNeeto]

For couples it may be easier. One paycheck is saved while the other paycheck is used for bills. But for a single person, he or she has to be mindful of rent, utilities, and car expenses. It’s not has easy as it sounds to save money. It’s not impossible but definitely not easy.

[@joethebar1]

In Vancouver ( and surrounding area), a house is 1million and in many cases, a lot more. I was fortunate to buy a really nice townhouse in 2004-put 5% down. 238,000. It’s worth $600,000 today in a soft market. There’s no way I could get in the real estate market if I was starting today. Luckily for me, my payments are manageable but there’s still property tax and strata fees every month.

[@mikeschaner5853]

I cant believe i used to listen to you when i was little, and you're still around!!! Love it! Thanks for the invaluable information

[@Shooting_Stuff]

A 15 year note that’s 1/4th my take home pay? If only we all lived in a perfect world like Dave. 😂

[@real8342]

Facts!!!!!!!!!!!!!!this dude is unrealistic

[@Vividlol]

I’m glad it isn’t just me thinking that. if you make 60k a year you’d need a 1250 a month note and on a 15 year loan you’re only doing that buying a 120k house.

[@durden2480]

@@Vividlol I could barely afford 600 a month on that plan

[@Vividlol]

@@durden2480 exactly. With those guidelines you’d be lucky to even be able to get a single wide trailer

[@sq2441]

House price Inflation is so high in my state...it just is impossible even buying a slum house.

[@Judysunyoo]

I completely agree! My real estate agent was my moms church friend and it was a terrible experience. Lost 40k where every other house sold for 40k to 100k more than my own house

[@HEATER_]

Aunt Sally! 🤣🤣🤣

[@justrosy5]

That's because they came from church. Had nothing to do with anything else. Don't ever believe anyone who came from church.

[@jglobetrotter2830]

Our mortgage is cheaper than rent and we have the income to pay off our student loans quickly, while also building equity in our fixer-upper by working on it ourselves. Our home has already gone up in value and I am SO glad my husband bought it when he did, because we couldn't afford other houses near this location. I don't think you have to be out of debt to buy a house.

[@biker3762]

potentially what anyone says or thinks doesn't matter any situation can and will have different circumstances just work hard and you'll get there

[@KnockoutInvesting]

J Globetrotter yes u need to be debt free first. Stop being a child and doing what feels good in the moment.

[@malloreygarrett892]

I completely agree. We had some credit card debt but found out our rent was going to go up 50%. So we bit the bullet and bought a house while interest rates were only 3%. Our mortgage is significantly cheaper than what our rent was going to be and we are now paying our debts off way quicker than if we had stayed renting. I don’t care what Dave or anybody else says, that was the best decision we ever made.

[@branjeff1]

Hey Dave! Loved the video, just wanted to share that my mom is now one of your Real Estate Pros and she helped me buy my house so I know I was in good hands :)

[@brianwayne8683]

The U.S. is short 5.24 million homes, but there are 5.9 million commercial buildings, containing a total of 97 billion square feet. Many business owners are wondering if living in their office space is a viable option.

[@vinhecktor6442]

@Wren Wallis Yeah!! With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate. Just my thoughts

[@matthewshaw811]

[@vinhecktor6442]

@@matthewshaw811 yes it is,digital assets are actually the best way to save money cause you are earning while you save unlike banks

[@brianwayne8683]

Investing in stocks is a good idea, a good trading system would puts you through many days of success.

[@matthewshaw811]

[@sammartin4817]

Started the baby steps earlier this week. I had heard of Dave Ramsey but I’m takin this to heart

[@rubenescobar1665]

Don’t buy a house unless your out of debt stopped the video and will continue paying my debt off thank you

[@bobbylowery672]

LOL this is exactly what I needed

[@kbanghart]

I bought a house with debt, very good decision I made. My equity is climbing decently while I pay down my debt concurrently.

[@queline213]

I understand, but I don't want to rent a place forever. I want to buy a house, and my student loans are not going away anytime soon in the next 10 years. I rather invest money in a house rather than someone else's house.

[@kbanghart]

@@queline213 see, I support student loan forgiveness for many people.

[@Lilbit2215]

😂😂😂😂😂😂😂😂

[@foreigncontaminant2015]

Saving up and buying cash saves a ton of interest. It's doable, and from my experience it's not easy. But when I think the next 200 grand I save is mine to keep and invest, definitely nothing to sneeze at. I hope Dave's word reaches far and wide!

[@JO-qc6nt]

How much do you pay in rent during that time 🤦‍♂️

[@foreigncontaminant2015]

@@JO-qc6nt true, but in my case, I had a tiny single-bedroom apartment to live in.

[@cherylmitchell37]

Any updates? Were you able to pay cash for a house?

[@Soldknight324]

@@JO-qc6nt Do you not know all of the interest costs, property taxes etc that is burnt money when having a mortgage? At the moment, those costs are higher than just renting (at least here in Australia) so it's actually more financially beneficial to rent and invest

[@Niqu33]

“..But everybody’s broke & you don’t wanna listen to them” 😂😂... a lot of ppl have been suggesting that I but a house but they’re not single like me, so it’s difficult to take their advice.

[@rodsquad3018]

Are you able to secure a grants yet?.

[@rodsquad3018]

I can help you,

[@AshleySmith-to8vy]

Thank you Mr. Dave Ramsey. I appreciate you tremendously.

[@SunnySJamil]

4:39 is when he starts to explain in which scenario, including the monthly payment amount, he suggests that a person buy a house.

[@wieheericka]

I watch this every time I get the house fever and need to put myself back in check.

[@christophersonist]

Wow....your comment is GOLD, Ericka. Good stuff. Way to put it back into perspective. We all need that sometimes.

[@jasminexthai]

Thank you for all the information! So helpful 👍🏼

[@Flo-qp7ye]

I love dave, I learned a lot from you. Thank you sir! God bless

[@Heather-ko2lv]

I do, actually, open up my computer and work on fixing it myself. It's a decade old at this point, so neither a big bragging point nor too shabby. However, I see the point about having a professional running point on a home sale.

[@InvestingHustler]

I wanna see a picture of you in your disco clothes with some hair 😭

[@wkdravenna]

Definitely agree that would be a treat.

[@amaysinc]

at least a picture of Dave back then when he sold that house. LOL

[@EmpireTextbooks]

Investing Hustler please don’t put that creepy picture inside my head

[@christinab.2864]

I been think that I can use the sims 4 to craft a sim that look like Dave and with and let me get to that

[@EmpireTextbooks]

Christina B. Please don’t

[@thewaverlyplace100]

I just found your channel tonight, and you're quickly becoming one of my favorite channels.

[@mrmoneysign3721]

Note he is saying ‘’buying a house’’ not a dream house this man is a goat 🐐😅😅

[@briantii]

If the interest rate is very similar then I personally prefer a 30 year mortgage but paid off on a 15 year or better schedule. This allows lower payments and stretches your emergency fund should you find yourself in a bad position with employment or other unexpected expenses. It also provides more cushion should you have trouble selling your old home. Before anyone says “but no one actually follows that plan”, I’ll go ahead and agree that some may struggle with it. If that’s you, do the 15. If you’re committed to the plan of a 30 in 15, then it’s not a bad option.

[@gamatoutsikos]

If you get a 30yr but on a 15yr payment schedule, how does 30yr allows for lower payments? The only benefit is the cushion which can be a blessing and a curse

[@brianmurray4724]

@@gamatoutsikos Allows for lower payments should job loss or something unexpected occur where lower payments could be beneficial.

[@gamatoutsikos]

@@brianmurray4724 therefore it's not a 15 yr pay off schedule anymore. One doesn't go with the other. You can't have both

[@michaellong6179]

@@gamatoutsikos thats not what he meant. lets say a 15 year mortgage is 2000 a month and obviously a 30 year payment plan will be less, lets say 1300 a month. you get the 30 year plan but you pay 2000 a month anyway to pay it off early. then if someone loses a job or something youre only required to pay 1300 a month until you can get back on your feet whereas the 15 year loan youre stuck needed to pay 2000 a month

[@gamatoutsikos]

@@michaellong6179 I understand that's what he said. If you look at my initial comment I acknowledged that but I said the cushion is a blessing and a curse. Because when you know you can reduce your payment, if you are not disciplined you will. And if you are disciplined you would have got the 1tur option in the first place since it is affordable at the moment . Source: myself. Used to sell and underwriter mortgages for 10 years before opening my own business. I've seen it happen many yimes

[@BigBoii1369]

It’s astounding how Dave keeps giving advice based on his experiences in 1970-1980… Times have changed buddy & everything is different from the Stone Age that you grew up in.

[@wreckim]

It's kind of stupid advice in many markets; waiting has just meant, here in Southern Cali, that a home for $500k at 3% mortgage in 2020, is now $$750k at 7% in 2023. There are millions of folks who lost out on their chance to own their home. That's a fact.

[@genekendrick679]

The law of gravity is outdated 🤡

[@danielbarrios266]

How is waiting to be debt free before you buy a home considered “Stone Age” advice?

[@parker10551]

We are currently in contract negotiation for a first time home, my wife is 26 and I an 24. Cheap home, not much repair needed. Good acreage for a first home. I do DIY on my car and computer though. I have a computer certification, and I youtube everything on my car. Its possible to do what you want. Just gotta put your mind to it

[@sparklebell7475]

Good info Dave, I was looking to buy my first home, those thing that you named I'm definitely on it!!!

[@stephmakesup8586]

At 40 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Dave, fyi my emergency fund is also a done deal! Go me!

[@6912wfd]

Steph Makes Up congrats on getting your debt down. I was in the same boat, we rented a co-op for ten years, it was time to go! It told me 3 years to get my credit back up to 700. Paid off my debt and just moved into our first home in February! I worked 70 hrs a week to get it done, but I was determined!

[@roxannescott6956]

Hey are you saying a house is better than a condo was thinking about getting a condo or a house

[@6912wfd]

roxanne scott everyone’s situation is different. For us, it was definitely better. I love doing yard work and having 2 very energetic dogs, it was a no brainer. You have to weigh out your options and see what’s best.

[@livenow13]

Feel so regretful that I made dumb decisions financial and didn’t invest properly. Now I’m 40 and feel like I’m starting from scratch like a 25-30 year old

[@6912wfd]

livenow13 I’m 46 and finally bought my first home. I went down that same road, but finally made the right decision

[@alexandrajuliette6899]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

[@jordanmorris9663]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Liam🙏

[@rosiejones2079]

I have made more than 90K USD God bless Lucy Mary Liam God bless United Kingdom 🇬🇧

[@kenrobin8736]

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself

[@johncuevas4415]

Thank you Lucy Mary Liam $45,000 weekly Profit regardless of how bad it gets on the economy.

[@chrismadison5085]

After I raised up to $325k trading with her I bought a new house, bought a new car for my wife here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom..

[@marvinperez3314]

Bring a video about this that is updated for 2024 ! 😊 Thanks for sharing your videos great information 👍

[@monoz9112]

Great thx for the info ,

[@mikebkaease4547]

I'm in the process of making an offer on a house. He is right. It's alot of emotions and alot of money talk. Lord guide me. Amen.

[@isidoramartinez6510]

I hope all is well!! I am in the same situation my stomach rotates all around

[@mikebkaease4547]

@@isidoramartinez6510 got the house I wanted dude. Definitely worth it. Better area. Lots of work. Good luck. Trying to make wealth for my family.

[@AntwanAhmed]

I hope it went well and you’ve been able to get into a home!

[@shogunfogun]

So..what happened to “Steps to Buying a House”?

[@luisortega6140]

Pretty much if you can't dish out $200k cash like mini pablo escobars don't buy a house is what he said. "Millennial couple making $100k a year saved for 4 years and paid it off" like who tf is making that even nowadays

[@yiyigames4648]

Steps: Use the site recommended. This turned into an ad :/

[@deanslegos1990]

I'm looking around and everybody is building 200-300k two story houses that have 12-15' between neighbors. People ballin outta control spending all they money.

[@crunchy90433]

He said it: 1) Get out of debt. 2) Have an emergency fund. 3) Buy a house. If you have to borrow money to do so, get a 15-year fixed-rate mortgage that costs less than 25% of your monthly take-home pay.

[@jairomariscal9760]

@@luisortega6140 alot of People are. A couple making 100k.. So one person makes 40k,60k, or 55k 45k. I see people making 110 and drive a Mercedes around.. It's silly. Should be saving.

[@sibpaul2235]

I wish I knew Dev Ramsey, or listened to him 5 years ago. 100% down payment is possible if I just started saving right out of college. Right now when you are married and have a baby everyone wants you to buy a house and it’s so hard not to be tempted . I live in Edmonton , Canada and house prices are going up and down in the resent years

[@alexisg215]

In the Bay Area of California its rare to find anything under $700k now, but the market is kind of at a standstill right now and will hopefully start to drop again soon. I’m 19 so I can make a good amount and save practically everything I make since I live at home rent free which makes it easier to save 100% for a house, but even then it would probably take 5-10 years. It would be even harder for people living with bills.

[@8888k]

If i could get a house for anywhere near 200k then i wouldn’t have an issue!

[@Fatality_2313]

Right!? I live in Cali and you are looking at a 500k minimum for a decent house, not even a nice house lol

[@anzulove7457]

I live in Tucson, tons of houses in good condition for 200k

[@aspentree4935]

Colorado 500k most now.

[@aspentree4935]

@@anzulove7457 irs so hot though isn't it? Did it get hotter like everywhere else?

[@bryangravener9358]

There's plenty of websites with houses under $150k in literally every state

[@chelseaelliott9593]

i love how this felt like my dad talking to me about buying my first house, this was good advice. thank you

[@canadiankid42]

New to the Dave Ramsey personality. I like when he gets fired up!!

[@vendetta1306]

Thank you muchly sir.

[@iluvrachellef]

Great advice Dave,thanks so much. I want to buy a home but I'm feel I'm not quite ready. Need more income unless I can find a mortgage around my rent amount.

[@hunkydude322]

no magic bullit here, just save, save and save, and when your ready just keep planning and saving until you have everything figured out when your ready to pay cash, its an on going journey.

[@MelatCucullu]

the dad we all needed!

[@Nurse_pretee]

Thank you!!!❤

[@ArtoniqueNelsonTV]

working on baby steps 2 and 3 right now, cant wait to buy a home one day!

[@makaylafriend]

I’m 18 and will make roughly 30-40k a year after I finish college (I’m a teacher). How is it cheaper to rent and then buy a house? Interest would end up being cheaper than the amount I spent on rent. I’m not in a relationship and I’m not planning on dating someone and marrying them just to afford a house. I just feel like this is good for people who are already living on their own, not people who are planning on moving out for the first time.

[@cartninja6479]

Good because that would be prostitution

[@Coffeetime1991]

100% rule, laughs in New England. By the time I save for a big down payment or a house in cash, everything would go up 100%. Fixer uppers are not ideal for me as a single woman, I barely even know how to start a lawn mower.

[@uriel-heavensguardian8949]

Awesome video

[@UwUSanime]

I do open up my own computer, and work on my own car, and most definitely will be doing DIY, because I've learned how to do these things through trial and error, because being afraid to make a mistake is the worst mistake you will ever make.

[@tbssen36]

"You don't open up the back of your computer yourself." *As I watch on my $3000 PC with a custom water-cooling loop I built myself*

[@fue1100]

What's in it?

[@silentoaths5086]

Same lol. This is where the saying "Ok Boomer" fits nice and snug.

[@tenhundredkills]

I work in IT. I literally open the backs of computers for a living!

[@wolfpackflt670]

I do it as a side hobby, fixing a computer is NOTHING like buying a house.

[@shawnsnow6413]

Same + I just replaced the frame on my truck lol

[@6912wfd]

100% down payment 😂😂😂😂

[@AnnyBAdventures]

Id be working my life away for 20 years with what i make to accomplish that. Lol

[@kandace6798]

Would give anything to have a mentor as knowledgeable, honest and straight forward as Dave…really need one..it’s so confusing to me and so hard to trust

[@timaram4880]

Thanks!

[@deathblade909]

love your show ram!, i have a question. I am an architect and wife is about to get her license in real estate. Our long term goal is combining both to buy and develop land. in the meantime we want to hustle, what area of real estate will provide the most income for her?

[@Jenocide999]

His plan may not sound viable, but he's mostly right. You should get as close to the plan as possible. One way you could get there is by buying a condo/apartment unit first and go up from there.

[@aschmitt89]

Wish I had this when I was looking for my house. Now we’re in our house, still in debt, living paycheck to paycheck. Barely. Been going through FPU, and I am kicking myself so much!

[@Youdontknowwhatliterallymeans]

His homebuying advice is impossible in many places.

[@123userthatsme]

He said "100% down" and I laughed my @$$ off!

[@ihatepeoplewithlongusernam366]

Maybe it's ok for American standards? Idk

[@Youdontknowwhatliterallymeans]

@@ihatepeoplewithlongusernam366 maybe some parts of the country

[@Curtis1900]

Easy no impossible certainly not I live in Southern California so housing isn’t cheap and it’s only going up in price. I’m looking to put down 20% and see what’s out there. But only buying a house the size I need and can afford I don’t need a 4 bedroom home with a 2 car garage is it nice of course is my family that big no

[@Youdontknowwhatliterallymeans]

@@Curtis1900 Fair enough but in the world's most expensive cities I really don't think it would work.

[@orangecrushhex]

I like a lot of what Dave says, but this notion that everybody should just pay cash for their homes is completely unrealistic. Would everyone like to pay cash for their homes? Absolutely, but a fraction of our population can realistically do this. I took out a car loan for six years and while Dave would be very upset with this, I paid off the loan in just 16 months so I paid a nominal amount of interest. You CAN take out a 30-year mortgage payment and pay it off in 15 years or less. It's completely realistic.

[@I_like_turtles_67]

If you get a 30 year. I can almost guarantee it will be paid off in 30 years lol

[@igot5onit423]

Fyi...40% of homes in the US are paid off

[@Iamyourboo2]

I could only buy a crackhouse for cash.

[@skiinggator]

His advice is based on giving you the best odds of success. Being debt free before getting the mortgage and then having a 15 year with only 1/4 of your take home pay for a monthly payment drastically reduces the risk of foreclosure. He's not saying you can't succeed if you don't follow his advice; just that your risk of failure will be much higher.

[@thatone5350]

Came looking for, advice got a 9 minute ad for your website. Thanks.

[@uncommonanom]

Gonna do a video on this!

[@mojo6385]

I'm binge watching to see if this channel is really for me. Unfortunately, I just hit the 5:00 mark and now I'm not so sure this is where i belong. lol

[@calebhjellming]

I brought my house with 100% cash it is nice owning house with no mortgages

[@mortgagewithclare]

Great video🤩

[@sleazymansion639]

Thank you for the information! I’d rather do something right the first time!

[@aaronhageman9064]

At times throughout this he talks like he's doing an auction😂 great content thank you for your wisdom and knowledge

[@benjaminwolf9801]

Can you imagine....buying a house just out of high school? Down payment was probably $5 and a cold coke lol

[@jameledwards6179]

I enjoyed this!

[@eddiemilton3819]

How can I got about getting pre approved for a home loan? What should I have before I talk to a bank? I’d like to pay cash for a home but that’s simply not going to happen. So I’d appreciate any advice on what my minimum credit should be, what I should have in the bank, and anything else I might need or need to do Before i actually talk to someone at a bank.

[@sethriggle1462]

Lol I work on my car, and I've opened the back of my computer when it breaks or needs an upgrade. But my mom's a pro at real estate so I guess I'm set 😂

[@stephgonzalesc]

This sounds all great but I would like to know in what city within the US people can make and save that much to get a 15 yr fixed rate mortgage without spending more than 25% of their salary... definitely not in Florida. Sometimes Dave’s advices are unrealistic and create more frustration than optimism for the future.

[@billjohnson5137]

I would say in half the major cities like New York or Socal if you make an average income you will never enter the housing market....EVER. The only way you can do it is if you move to a cheap area AND have a household income of at least 90k. Median income in the US is 35k.

[@EmpireTextbooks]

Stephany Gonzales Dave can do this because of this show that he has, not his investing strategy (which made him bankrupt in his 20s by the way). You’re better off buying a 30 year mortgage because your monthly payment will be lower, so you’re less likely to not be able to afford your bills each month.

[@brettwright1640]

easy for dave to say. i live in NY (not nyc) and the property taxes for a 150,000 dollar home are probably higher than what he pays in property taxes for his house. you could have your house paid off and still have to pay a grand a month

[@randystevens6302]

He's not wrong, he's just applying the proper discipline. I bought my first home at 24 in very expensive Fairfield County Connecticut 30 years ago. My son and his wife will now do the same in the 400k price range. No more than 25% of their take home and they will have a ton of disposable income. Stop watching HGTV and being brainwashed into over spending.

[@borderedup]

@@randystevens6302 generational wealth really helps

[@camiapage1375]

I don’t know if you already have an video but please make a video about first time home buyers also is Fannie Mae a good program to buy an house from or FHA

[@xoriyosomali]

Thx Ramsey.

[@greg7384]

"Hey, Here's how you buy a house: Make a ridiculous amount of money and use that to buy a house." Uh...Thanks. Who in their 20s is making $110,000 a year? Half of that? That's an easy path.

[@natalyrausch]

Depends on if it's combined income for a family. My husband and I make a combined income of 165k and we're in our late 20s. He's the primary breadwinner and I could not afford what we're looking for on my own. I believe the garage couple were 100k combined. That means someone worked (50k) and the other saved their entire income towards a home. My husband and I are currently aggressively saving half of our combined income to buy a home in a year, you gotta make sacrifices.

[@greg7384]

@@natalyrausch When you start out making $20k, baby comes along, and your wife stays home with the kid, your only option is to make sacrifices and those sacrifices don't go towards a future. They go towards now. Dave Ramsey consistently talks down on people of low income. Sorry, not everyone's fault who has low income. I wonder what Ramsey thinks about missionaries or the many entrappings associated with money.

[@natalyrausch]

@@greg7384 Very true. We have to have tailored discussions that make sense per income level. What my husband and I do with our money won't make sense for a low income family and vice versa. Still, I don't believe there's anything inherently wrong with telling the stories of people like me and the garage couple--we do exist after all. I just wish there were more resources for lower income people on Dave's channel.

[@greg7384]

@@natalyrausch Good word. I think another thing looming in the background is that so many Americans are so irresponsible and so unwise regarding financial decisions. It'd be great to get more advice for people who don't go out to eat, don't go to the movies, don't buy every other toy for their children, look for deals, save, etc.

[@scbane]

Just about every guy who is willing to work overtime in the WA labor union is making at least 100k a year. There are many careers that require a minimal amount of tech school or vocational school experience, where you can make 100k a year.

[@lsjones42]

Hey Dave, I'm 21 I'm in school and working, currently I am going to school debt free and I am working on saving up for my emergency fund. I just wanted to say thank you for sharing your knowledge

[@jeremywallace9494]

Like the Aspen Snowmass jacket! See you on the slopes this Winter!

[@ae744]

Excellent advice. And even if you have a family member that is a succesful realtor, use caution. I had to fire my cousin as realtor, due to trying to push a higher mortgage, and only showing very expensive homes to me. He was concerned with his own commission, and not what I could afford. Do not use family or friends. Get an unbiased pro.

[@jake_of_the_jungle9840]

I’ll never ever have a mortgage! I bought my house in cash when I was 17 and now it’s all fixed and paid for. I was going to flip it and move back with my parents but I decided to keep it. Im 21, I’m planning on flipping another house and start real estate from there if I am able. But I definitely understand “house fever”!

[@mmmmmmmm1942]

Lol

[@scf7334]

Where do you live? Because if you’re in America, you can’t legally enter into a contract at age 17. Not buying your story…

[@volvotwoseries3384]

Can you imagine if you could still buy a house right out of high school?? Must've been great times.

[@groofromtheup5719]

places like that still exist.

[@jcwaka76]

5:03: I get it, but I _do_ service my car and my computer when they’re broken.

[@EricDongh2p]

What if you needed heart surgery? Would you perform surgery on yourself or see a doctor who has 30 years of experience?

[@MartinLopez-iq5sb]

Some insight in AZ’s market. There are roughly 60,000 licensed Realtors in the State. Selling 50 houses a year for a Realtor would be selling a house roughly every 7 days. Very few Realtors are doing that if they are they are highly sought after and dealing with higher income clients. As a young Realtor, I’ve had first time home buying clients hire realtors to buy their first home to later fire them cause they most likely took their higher income clients with greater priority. It’s not about the number of houses a Realtor sells a year, it’s about the quality of representation they can provide.

[@youmakeitwhatitis]

I work on both my car and my computer. I'm not sure that point applies every time.

[@Jawnwickk]

youmakeitwhatitis I was looking for this comment. Lol I BUILT my own computer and car..

[@florence3448]

200,000 in Vancouver can get you an old small apartment. We’re looking at minimum $1,000,000 for a starter’s home. Most homes run about $2,000,000 here

[@kay6257]

WOW

[@KnockoutInvesting]

U better make a lot of money then lo,

[@harasxo]

Vancouver is VERY expensive I don't recommend buying in Vancouver unless you are a literal millionaire

[@ilovepizza8263]

I agree with some things he says. For example I really believe in the 15 year mortgage. A lot of people don’t realize just how long 30 years really is. That’s basically half of your life where you can actually be a strong worker. But there are some things I disagree with, paying 100% is just a stupid expectation, if you are able to do it then great. But you would need more than 100%, because you don’t want to be left with zero money in your bank account. Also, people who are paying 100% of a $100,000 home or a $200,000 home are not the majority, in fact I would be surprised if they make up more than 1% of home buyers.

[@loganpolley7767]

21 years old and I'm about to close on a house for 105k gonna be at 6.5 percent for 30 years in the 600 a month range. Plan on paying 1000 a month to knock it down quicker

[@studleyjb3172]

Use extra money for principal only payments.

[@PatrickDoig]

Love how he doesnt lay out any steps, just tells you not to be stupid

[@LovesGrilling]

This was just a bit too sales pitch about the real estate agent referral service, to be honest. The advice in general was good, but a 10 minute video could've been a two minute one without the four minutes of pitch.

[@ScarredBert]

roadrunnersk2 that’s literally all it was, him trying to convince his audience to use a professional and that no professional other than HIS professionals are good enough Extremely disingenuous

[@AntwanAhmed]

You gotta tie some good advice to hook ppl in and then promote what you got too :/ lol

[@Bremith103]

Then you can't afford to live there, oops did the math spoil your dream? Stop being such an elitist, humble yourself, your wallet will thank you.

[@jesusosorio4621]

Thank u

[@nicksummerfield5408]

I know you said that you can do alot without credit. But when I moved and had to add ultities to my new place they check your credit to see if your able to pay your electric and gas bills.

[@borderedup]

Dave says no more than 25% of monthly take home pay on monthly housing payment. Really difficult to do that on $60,000 income according to that standard

[@nherrema1]

Not with a 15 year loan.. 30 year loan its possible.

[@tyerker]

"You don't open the back of your computer and try to fix that, and that's a $500 transaction" Me with my $3,500 PC I built myself... "I can totally do plumbing"

[@maniacattack8426]

I love when its just dave!

[@generalmeng]

Dave, i would like to ask if your rule for home buying still apply in my case. average home in my city is 600k to 1.5million. i can put 200k down. if i follow your rule, then i can only buy the 600k house (25% take home pay, 15 year fix rate); if i stay with 15 year fix, and stretch mortgage to 50% take home pay, i can buy up to 800k house. what is your advice?

[@russadams7744]

Wife and I are working on baby step 3 and once thats done we are going to saving up 20% of a down payment on a house somewhere around 150,000 or less. Can't wait!!! 😎

[@NotShowingOff]

Russ Adams which state?

[@georgelopez344]

Definitely wasn’t expecting to see your comment in this video Russ! (ZoMb1e_AsSaSiN

[@russadams7744]

@@NotShowingOff North Carolina

[@russadams7744]

@@georgelopez344 lol hows it going George?

[@Victoriaxx08]

Awesome! How long do you think it will take?