Why You Shouldn’t Buy A Home In 2024

Take your personal data back with Incogni! Use code GRAHAM at the link below and get 60% off an annual plan: incogni.com/graham | Let’s discuss why so many home buyers now regret their home purchase and the five most common home buying mistakes that almost everybody makes - Enjoy! Add me on Instagram: GPStephan
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Most Common Home Buying Regrets For Millennials…
Chapters:
00:00 - Home buying Regrets
01:13 - Higher Prices
03:04 - Regret #1: Too Much Maintenance
05:41 - Regret #2: Bought Too Fast
07:54 - Taking back your personal data with Incogni!
09:35 - Regret #3: Spent Too Much Money
11:16 - Regret #4: Buying a Fixer Upper
13:37 - Regret #5: Pressured To Make An Offer
14:34 - Regret #6: Didn’t Buy Sooner
16:09 - Common Regrets
17:02 - My Thoughts and Suggestions on How To Avoid Regrets
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*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.

[@GrahamStephan]

-Here is a link containing the source material for each piece of research cited. I do my best to make my videos as accurate as I can, and the additional resources should help anyone who wants to look into them further - enjoy! docs.google.com/spreadsheets/d/1FlvOKGOlwAsRQl6L60AH8Izv_CmPFY4P2mFpuvzueBE/edit?usp=sharing -Take your personal data back with Incogni! Use code GRAHAM at the link below and get 60% off an annual plan: incogni.com/graham

[@NewMoneyBroker]

GME 💎🙌📈🤑

[@jaredfisher7086]

I enjoyed the comedic relief of the intro being backwards. funny stuff before hard truth make its better.

[@dj3xN]

PROOF

[@fireboltaz]

Graham. I’ve been watching your material for years now. If people took your advice from the beginning, many of the issues you brought up would minimally impact people with good ethics to saving, investing and planning long term. You’ve done a great job to echo this to the masses for awhile now and I and many others thank you.

[@AMarie_USA]

great advice on sticking to YOUR own budget, NOT what they pre-approve you for, which could be way higher and actually unaffordable. I still stick to the 20% rule- home exp. is no more than 20% of net income.

[@jakewilliams388]

Should have bought in 1992 instead of wasting time in the womb

[@badassdahn654]

😂😂

[@mph5896]

2009-2019 was a great time to buy

[@toxicthesniper8264]

Fr he doesnt have an excuse. At that time he shouldve been in his 20s and buying a house wouldve definitely of been an option ​@mph5896

[@marciamakoviecki3295]

😂

[@Utubeacct]

😂

[@GavinGMoney]

You know we are in a tight spot when the real estate guy tells you not to buy real estate.

[@GrahamStephan]

IF you buy, just run the numbers, understand why you’re buying, and make sure you intend to keep it long term. Renting (in most cities) is a lot cheaper right now in the short term.

[@MikhailFromUSA]

@@GrahamStephanyes that is why the prices should fall 2x at least to make sense of buying again

[@RealSnoob]

@@MikhailFromUSA Or rents will double to keep up with the housing market...

[@AyjayAlleyway]

@@MikhailFromUSA they absolutely won’t fall anywhere near that much. Keep dreaming.

[@reyman011]

@@GrahamStephanI read all your replies in your exaggerated KZbin voice lol

[@jdf9456]

He made this exact same video in 2019, 2020, 2021 etc. Glad I didn't listen during the pandemic when he said prices would fall afterwards.

[@ahhhhhyeah]

Exactly. And prices are NOT going to fall anytime soon so he’s wrong again.

[@Zelielz1]

@@ahhhhhyeah Well there are some price corrections happening right now.

[@ethandinh4367]

Yeah his videos really have gone downhill and clickbaity. I watch clear market tax much better/realistic information

[@michelle56704]

Lol, either live with your parents or buy a home if you can. Do NOT wasting money renting and with a roommate/s.

[@softaco3088]

Yep, all these "gurus" do

[@himeiloveme]

Millienal here just bought a house 2024 and I never been happier. My home price increased 15,000 since i purchased 😄. Also home maintenace and simple home repairs from fixing a leaky toilet, to simple plumbing even installing newoutlets doesn't cost much when you can do it yourself. I remodeled my parents entire restroom myself just from watching DIY youtube videos. Atm I remodeling my own garage from head to toe, new drywall, fixed up electricals, paint, new epoxy floors and diy cabinets and new led light bars, all learned from youtube and so far the total ocst is only $600. Pro tip: when working on electrical please have turn off all power from the main breaker and spend like 50 bucks on a voltage tester before working on it. Also someone quoted me $200 to install a ring camera flood light and i did it myself watching youtube again took me 30 mins. We are in a time of DIY and honeslty it feels so satifying and its super fun.

[@robertbruce8776]

Leave the garage floor coatings to the professionals

[@Charles45Soccer]

Your home price is completely unrealized, it could just as easily go down $15k

[@laneyluneva]

DIY can get you in a lot of trouble my man.

[@geraldt331]

As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[@yeslahykcim]

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@Jadechurch-ql3do]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@lucaswilliams9992]

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one

[@Jadechurch-ql3do]

Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@brianwhitehawker1756]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@sallyprzybil2404]

Great timing Graham! I just closed on a house Monday! It was on the market for months and months. I got a great deal. Nothing wrong with the house. But it’s in a small city where there aren’t a lot of jobs. But then, I’m retired so I don’t care about the job market in the town. It is 20 minutes from another city of a somewhat larger size that has a great job market. I’ll have a lake view and peace and quiet. I’m happy with that.

[@prasannagaikwad2349]

Best wishes!

[@commonsense6967]

Congrats!

[@sallyprzybil2404]

@@commonsense6967 Thanks. I’ve been saving for the down payment for a long time. And have a plan on how to pay the principal off early.

[@treyjames1205]

I’m happy you closed! I’m closing next month. I also got pretty fortunate. I live in a smaller college town. We’re about an 45 minutes outside of major cities but it’s awesome. I found a seller who was older and moving south to retire. The house was extremely well kept and a lot of items are new. we agreed on a phenomenal price. It can be done. I first got preapproved from a lender and searched for months then withdrew the downpayment from my 401k.

[@ChrisJohnson-pc3pd]

What was your interest rate

[@michaeltoney2277]

Best advice I can give to people buying is look at the satellite view for the neighborhood. You can tell a lot about hoarding issues, area companies, hidden homeless camps.

[@RealHomeRecording]

Street view on Google also is pretty cool.

[@cocostrayer6667]

Also be careful of any undeveloped parcels adjacent to your property of interest. Our peaceful, rural subdivision of large lots is now hemmed in by sardine subdivisions, a shopping center, and other commercial buildings where lovely quiet pastures and forests stood for decades.

[@karenkramer3760]

@@cocostrayer6667 Damn. That's a good point. How far is it from you?

[@Mr.LaMora]

Best advice I could give is don’t buy a house in 2024

[@SuperFlashDriver]

@@Mr.LaMora It's this reason why I'd prefer an underground bunker with a mailbox outside of it rather than a house...But that's just me.

[@Co_ol.extras]

You know inflation’s gone bad when this guy tells you not to buy a house lmao

[@GrahamStephan]

I’ve been looking to buy something since 2022, and the numbers just haven’t penciled out when compared to cashflow / other options

[@SnoopEastwood]

​@@GrahamStephanAt this point the average person will only be able to inherit property

[@Slappysworld85]

​@@GrahamStephanafter all these years we finally agreed on something. 😂

[@gw6667]

We just bought first house. Older millennials, though not your first-house market, 900k. We'll see how it goes

[@hg2blackcat411]

Thats rough ​@gw6667

[@SnoopEastwood]

Should have bought a house in 2012 when i was in middle school

[@lorenzo5687]

😂😂😂

[@robinthestate6548]

Same

[@Donkiko-bz1lv]

Buy now or buy when you’re 60 years old 😂

[@darex0827]

Dude, too old. Should have bought on a zero down 30 year fixed when you were born.

[@rickrobinson8417]

Live and learn

[@brittneygunter8165]

Older millennial here! Got divorced in 2020 and moved to an apartment for a year to take my time looking for a home. Housing prices doubled, inventory plummeted, and interest rates skyrocketed. I was almost priced completely out of the market. I think you touched on nearly every one of my regrets. My plan is to just stay put for a good amount of time and course correct when it makes sense.

[@rangequeen]

Sorry to hear. I hope things turn around. Wishing you the best!

[@dont_trust_any1_even_ur_waifu]

got divorced, yikes sorry for your fail

[@jmarks2k1]

"Rent is the most you'll pay every month" ... ... until your landlord increases your rent next year (and the year after that, and the year after that, etc.)

[@occupytosavetheworld]

The operative phrase there is every month. Of course rent increases occur but the sky is the limit with homeownership on a monthly basis. That's is his point.

[@RockyTopYoullAlwaysBe]

2023 to 2024 my rent went down by $100/mo

[@auggieoutdoors3325]

Homeownership comes with variable input costs of which renting does not.

[@pedro72246]

Move to a cheaper place every year then it goes down down down

[@VgVi13]

@@RockyTopYoullAlwaysBe You are definitely one in a million. Lucky you.

[@TheKad33]

Mine isn’t regret about the home itself , but more about the HOA it’s in.

[@IRLSuperb]

Why would you buy a house with an HOA? I avoid it like a plague

[@nrm3247]

Bad

[@kyle6703]

HOA’s are a RED flag… Avoid HOA’s at all costs if you prefer autonomy and freedom to do what you like with your home and property.

[@Utubeacct]

Same here i am anti-hoa!

[@teacupteddybear6778]

I rent in a effing hoa and they're a god damn head ache I will NEVER buy in a hoa

[@GetIrked]

As a homeowner who's had to replace a few garbage disposals, the "garbage disposals last a few weeks" line nearly made me fall off of my couch laughing! 🤣🤣🤣

[@whichri79]

I've never replaced one

[@twelvenation985]

@@whichri79 some ppl treat as a actual GARBAGE. ive had to yell at ppl for what they wipe off their plate into my sink becuase no one ever taught how to use it or dont understand not everything goes in it

[@badboybootz8]

I make 80k a year and cant buy a house in florida its disgusting

[@spencermoeller2629]

Down payment will get you a house

[@badboybootz8]

@@spencermoeller2629 I dont need down payment I have VA loan

[@beyoutifulglam]

@@badboybootz8 The market is so hot in Florida, most sellers wont even consider VA or FHA loans it really sucksssss! I hope you´re able to find a property you like, thank you for your service.

[@sinamen516]

Relatable smh

[@parker4298]

Same. I am buying a condo this month and my friend is paying half of the mortgage

[@EricAndradeMusic]

I wouldn't say that I regret it, and I'm not sure many others do. But you really need to understand what you're getting yourself into. You're taking on a very large loan for 15 to 30 years. Are you okay with this? Do you understand the responsibility that it comes with? No matter what job you have, what problems you're going through, or what bad luck comes your way, you have to pay that mortgage.

[@ubuntunewb]

Millennial here, 1st house purchase on 2017, we did go with asking price, but asked for half closing cost covered by sellers. We are purchasing a house now, with experience, we are buying in a great neighborhood, under asking price plus closing costs concessions, and additional repairs from inspection. Do not get taken, do proper due diligence!

[@zxdan7370]

I've been watching your content for years and have always loved it and all the financial advice that you give through your content, so thank you.

[@ph1426]

as someone who just wrapped an over budget, over time renovation don't think you got away with going from 25 to 35% over budget.....I heard it, I felt it, I cried.

[@Thrivinglife3835]

Same here, I underestimate the renovation cost… it was a great learning experience.

[@MuneverGoktekin]

FourPrime Token, making everything right in 2024 it seems

[@ky0611]

I better buy that then!

[@PlayboiMaui]

stooop

[@MichaelKennether]

Thanks for sharing FET and AMS89H. 💯

[@SanjayKumar-xf6fe]

Why everyone is talking about AMS89H?

[@shankaryaadav3750]

really good project

[@janakkumargond2111]

AMS89H IS HUGEEEE!!!! 😎

[@ramieshmiddleschool2182]

my friends told me to buy this

[@ChandhuDola]

THis will change the world of cryptocurrency

[@renegomez6679]

I’m 25 have 100k saved and still live with my parents. I really wanna buy a house but I don’t wanna get a bad deal either. Although I’d love to be on my own I’d rather wait things out and keep saving.

[@marcusschloredt3423]

Move out bro Your parents deserve to move onto next phase of their life and you are stalling growth I waited till 24 and regret it

[@NiceGuyDan08]

Man if you have 100k you can easily qualify for a house in the vast vast vast majority of locations. My advice would be to house hack. I wish I would have done that years ago to start out

[@Donkiko-bz1lv]

You have money to move but it seems like you’re afraid to move and face life on your own. Your parents will be gone one day and you will be a weak person to face the real life. Move now Man! At least you will still have your parents for support in case of an emergency.

[@missalicesmiles]

​@@NiceGuyDan08the mortgage, property tax and insurance may not make it feel worth it if they already have a good living situation going

[@NiceGuyDan08]

@@missalicesmiles I'm not necessarily saying they SHOULD do it, I'm just saying that they have more than enough to do it if they want to.

[@GoldGunsandGolf]

First FTX NOW YOTTA!!!!! your recommend online DEBIT CARD has FROZEN OUR FUNDS!!!! they closed shop... THANKS FOR NOTHING,,,, AGAIN!!!!!!!!!!!!

[@juliussigurorsson3509]

Graham! you look good! I had to share this video to large group of renters in my country.... some 100k members, so good information about being renter, landlord and home buyers, great video - thanks!

[@richardpham1707]

Hey Graham, I’ve been watching since 2018 ish, around your credit card reveal video that blew up. I’ve been loving the content recently, the heart to hearts, real estate, investing, etc

[@MablePauls]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[@Stephine-un5zs]

There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist

[@SirBenjamin-oq1wd]

I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders

[@Elizabeth-mh2dj]

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

[@SirBenjamin-oq1wd]

Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.

[@Elizabeth-mh2dj]

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@camyronbrown]

Closing on a home next week. Might as well cry while I watch this.

[@GrahamStephan]

Congratulations!

[@camyronbrown]

@@GrahamStephan Thank you! Recent subscriber. Love the content.

[@Lazzil]

@@camyronbrown Hey, at least you got your foot in the door. If your inspection shows any kind of wear or deterioration, replace it asap. Taking a more proactive approach to maintenance will reduce overall repair costs and add value to your home.

[@6speed818]

You just made that seller rich. Why can't you people have patience

[@thadlm2698]

@@6speed818FOMO…YOLO…😂

[@tgtongue]

Love the regret portion. I really struggle with this.

[@Gemof2worlds]

Great crash course, Graham Stephan. I took copious notes.✍️🏻

[@unconventionalideas5683]

This is a really serious problem. Most people have no conception of how increasingly volatile the US real estate market has become owing to mismatches between demand and supply in terms of housing types, with too much single family housing out in suburban or rural locations relative to demand and not enough apartments or other multi-family housing, such as town houses, duplexes, triplexes, quadplexes, bungalow courts, dingbat style apartments and probably a lot of others that I have forgotten about or could not include here.

[@royseaberg2214]

Dingbat style apartments and bungalow courts? Those are new ones I haven’t heard . Buying duplexes up to quadplexes is a good idea due to FHA loans as long as you’re willing to live in it for a year. I don’t know a lot about real estate but I heard FHA loans are good but the property has to be owner occupied to get the loan and why you have to live there a year in exchange for loan

[@AutoroTink]

Not related to this video…but is Graham going to give an update on what’s going on over at Yotta?

[@katresealexander1311]

I felt this and turn around the decision asap.

[@wendywarren6178]

Great info as always, thanks Graham!

[@BrittScholler]

Although I have interests in global economics I don't watch the news anymore... I have enough FUD lol. Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. You're right about keeping level headed when investing so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present has enough to know issues going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over 16 btc from day trading with Francine Duguay in few weeks, this is one of the best medium to backup your assets incase it goes bearish.

[@DougDuhart-do6oi]

Thanks for keeping it light and real at the same time. Much needed for us traders in times like these!

[@EvarCristina]

This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.

[@karami84]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@Matt3Levine]

It really helped trading with Francine Duguay analysis and info, even with the market in a downward trend. Definitely riding the market wave is a good perspective..

[@KiraHdez]

I read about her too on the website. That is how I get connected to her. Thanks for putting this down here

[@jimmbear3998]

Can you do a video about what is happening with Yotta Bank?

[@AnggingSaging]

💯about not maxing out your budget for mortgage.

[@subanark]

I bought a house last year. I really didn't have much choice, becoming disabled meant I would need special accommodations, and my current place's rent is way to afford on a disability insurance plan. Fortunately I was able to purchase a duplex from someone who was desperate to sell and I live on one side, and a family member in another (who doesn't have a high paying job). This allows someone to be there if I need assistance, lets me add accommodations to the place. (I paid in full, no mortgage)

[@camere1]

Next Video: Why you should buy a home in 2024

[@ryang1963]

I miss the old Graham. No video sponsors and ads, and providing fresh insight not just spewing out the same stuff every time 😢

[@jayc326]

Great information

[@GrahamSalisbury1111]

Your intro actually makes sense to me!

[@Arc_514]

Can you make a video explaining how to value a home and see if the price makes sense. Like what things do you look at to know if it’s worth it?

[@Helena-ou8ry]

Land my friend, then add building by square footage times by age and what it’s made of. Certainly there is also the consideration of what can be done with it eg. An 800 m2 block may be divided into two properties so a seller of 750 m2 might not get as much. School catchments ect can affect prices.

[@FastSloW-qt8xf]

I grew up on the tracks. Right up from a crossing that requires the horn at all hours. Trains literally shook my parents old house. Can still buy those homes in pa for under 100k move in ready. The trains are kinds nice when your used to it

[@valeriew4833]

Yeah there's a train track right behind my house, 20 years and never get used to it, trucks going over the tracks shake the house, and there's an airport nearby so there's loud helicopters and airplanes flying very low that are very loud. Sigh

[@Navs126]

@@valeriew4833that sounds like absolute fucking torture!

[@rangequeen]

I live right by the airport and you don’t really hear it or it doesn’t bother you when you get used to it.

[@_architeck30]

Great video.

[@zackleetecksiang7761]

Thanks Graham! Greetings from Singapore. Looking forward toward your next video and if only I can give you more likes!

[@jaggaadaku]

Thanks Graham. I appreciate the video. Can you make a 2025 or 2026 housing market prediction video? Where you share your ideas on what the future looks like

[@benjamindouglass802]

Quick summary of what he will say “Don’t buy, the market is going to crash” just like every other year.

[@flyingwombat4412]

What are odds that ill need to replace garbage disposable by end of video??

[@GrahamStephan]

Extremely high.

[@Triginhil]

It broke during the time it took to leave that comment

[@youngblood23rb]

Only because people use them as a wood chipper or meat grinder

[@6speed818]

It's free in California I don't even know why he brought this up

[@luckysusan678]

Great video!

[@cbaum64]

15:25 - It seems you’re just fundamentally not understanding why regular people want to buy a house, and what it’s like to be a renter in an apartment that costs too much and has issues like water intrusion, limited space, noisy neighbors & sound bleed, etc etc etc. A lot of people are just willing to go into debt to have their own space and peace of mind. It’s not always about the “investment.”

[@nataliasoloviy3617]

This is one of the most important and valuable videos about homeownership. I hope everyone watches before buying a house 🏡. Thank you

[@BucketGetter248]

Hey Graham! Great video! Would love to see a video on your thoughts on Dave Ramsey's Baby Steps compared to the Money Guy's Financial Order of Operations and to get your take on the best order to manage your money. Keep up the amazing work!

[@ECmom]

He has made the video a while ago if you search it

[@Tony_904]

Thanks!

[@seansnyder6421]

I'll comment for the intro effort. Should keep doing it.

[@natemerkle3131]

Much love! You’ve changed my perspective on finance.

[@jesush9940]

Keep in mind that when you rent, YOU STILL PAY FOR THE REPAIRS OF EVERYTHING. It's built into the rent. So! If you own the home, you pay for everything but eventually the home is yours. If you rent, you pay for EVERYTHING and the home is never yours. Also, rents go up. Your mortgage wont. So buying is still king.

[@willowandluka5302]

Yep, renting essentially makes you a modern-day slave. You work for a roof over your head, but you end up with nothing in the end.

[@austingeorge6659]

​@willowandluka5302 except you eventually unalive and you can't enjoy your weekends cause you're doing chores. People just choose the lifestyle they want. I own the stuff I enjoy (bikes, electronics, and outdoor equipment).

[@randylester8274]

Love the GT40 (Fiberglass replica?)

[@AllenMacCannell]

Many also don't consider electrosmog, particle smog, mold, ultraviolet coming through southern directed glass doors

[@buzztrucker]

I've said it to friends, acquaintances, and even strangers. Owning a home is not for everyone. At the end of the day everyone needs a place to live, but how they choose to pay for how they live matters.

[@jarde1989]

I bought a condo last year at a 7% interest-rate No regrets, already worth $30,000 more than I owe on it

[@user-nx5fx5ky6u]

It's just the number. Ther true is Are you really can sell you condo.and make the profit ?? Don't forget agent cost and other cost that you need to pay to sale your condo.

[@bohatybr]

Curious to see how this ages. Must not be in Florida because here condo prices are tanking due to special assessments, HOA, taxes, insurance etc.

[@Donkiko-bz1lv]

Condos take a long time to sell.

[@FastSloW-qt8xf]

​@bohatybr yeah that's a disaster.

[@laerik0520]

LOL Redfin and Zillow has their estimates but doesn’t mean you can sell it at that price. Condos are really hard to sell because most people who are looking for home are looking for houses. Also factoring in the HOA payment every month, it makes it super unattractive. Good luck in selling it in the future. It costs more money to buy a condo than renting it.

[@ZackSeifMusic]

With an average house in my area being 450k and interest rates still 6-7% it's stupid to move right now. There's no light at the end of that tunnel because it will not double in value and keep up with future inflation 15-30 years from now. Something needs to change.

[@johnlegend1360]

Excellent

[@JV4L]

Glad younger generations are realizing homeownership isn’t everything. It’s been so overhyped for so long that everyone stretches to overpay for houses, which contributes to the crisis. If everyone becomes rational about their home buying decisions it will slowly deflate the bubble.

[@solologging2488]

Wait until you’re retired and you’re homeowner friends are living their best golden years traveling and golfing because of their PAID FOR HOME! While you spend your retirement days checking receipts at Walmart because your rent is 5,000 a freaking month! Only then you will realize homeownership is more than just a status symbol or a trending thing it’s part of a robust financial plan to ensure that your later years are as stress free as possible

[@JayJayLee]

@@solologging2488 this.

[@steven5096]

@@solologging2488👏🏽👏🏽

[@6speed818]

California everything pending.

[@6speed818]

​@solologging2488 worst time to buy. It's not like houses will be moving up 30 40% again.

[@timmydough]

Graham, Can you make a video discussing what's going on with the Yotta and Synapse situation? Synapse filed for bankruptcy and now all transactions at Yotta have been frozen with no timeline provided.

[@samuelapthorpe8531]

Yes please do

[@Ridingaroundandgettingit]

Yeah forreal wtf happened

[@dsha2006]

Maintenance costs in Phoenix area are very high. Average toilet installed: $900. Painting house (required by HOA after things start peeling): about $5k. New HVAC system: $8k (and this was on the very low end, I was quoted $15 and near $18k. Also don't forget auto repairs. We have a 2014 minivan. Almost every time I go to shop there's $1-$2k of recommended repairs.

[@dynamopro2928]

You got a new HVAC for 8k? Mentor me in all of life.

[@Spoolyboyz]

First time homebuyer millennial here. I’m currently in the process of looking to buy a homes and this video came in the perfect time. The market is saturated with the buyers but not enough inventory. People are willing to pay 15 to 20% over asking price in Connecticut for houses that aren’t worth it.

[@tylerrudd5461]

Worked out for my first home. 2.80% interest rate. The value of the home is up about 80%. Downfalls, property taxes and insurance have almost doubled since purchasing.

[@YourBoiSlifer]

Talk about yotta bank

[@devestator7512]

Garbage disposal do not break ever few weeks unless u r using it wrong its not a black hole to dump anything into

[@Valenzuela_Moses]

Great video Graham! Its also vital to find the right agent for you. Alot of agents here in Central Florida are not taking into account the massive inventory growth we've had. Right now SFH im my market (Orlando/metro), in some price points, are back to 2008 levels, and if youre interested in a condo, almost DOUBLE what it was back in 2008. Make sure you find the right agent who knows their market and doesn't just follow national headline news. Remember that most sales persons dont do any actual research and are here to push to buy or sell. Never forget to do what is right for you and never over extend yourself. If you have any interest in that data, its my latest housing market update.

[@vinjames9334]

I have no regrets selling. Had 250k put into my pocket. Paid off all my family debt, full emergency fund, and beefed up my investments. purchased new house lower than 2008 value. Put aside 100k for renovations. Will have almost half-mill in equity. Once rates eventually, if ever, will cash out refinance that out since my mortgage cost is pretty reasonable for the property.

[@Diana-dl2ft]

"Something will break the moment it goes out of warranty" 💸💸

[@daviddiehl565]

Yes, it's call a house!

[@josedavalos5263]

Should make a video on first time home buying. Explaining the process you use and all the math you do

[@godivakisses89]

Excellent video! My fiancé and I are closing on our first construction home in the next couple of weeks ❤!! We are 35 and 38, respectively. We are elated 🎉!!

[@jaedenwishman3490]

I was just watching your how much home you can afford video from 10 months ago and was hoping you had an updated video. What do you know, you just uploaded a new one an hour later!!!

[@tennamkha1030]

Too late buddy, already just bought… why do you KZbinrs keep flip flopping ? Buy a house now guys! Now it’s don’t buy in 2024. Just be real about it !

[@ProIific]

Market manipulation…he only interested in lining his own pockets. Hopefully congress grows a pair and starts regulating commercial investment in single family homes.

[@topicalstormofficial]

He makes money off making “content.”

[@TzUuup]

​@@ProIificI don't think Graham is one of those. He isn't big enough. Now Barbara from shark tank? As much as I like her, I think she is one of them

[@HH-le1vi]

​@@ProIificthe man literally hasn't brought property in a long time. He doesn't care. He's got rental properties and makes enough from his other sources of income that it doesn't make a difference to him. You cynics can't ever have anything nice without downing someone else

[@kidilantraveler]

You're right in buying, you'll come to know another 10 years. Never mind this idea. Home will save you through your life. I like Graham though.

[@Socal_2498]

I might be the exception. Bought my place thirty-five years ago in San Diego, California for $268,000. I put down $200,000 and payments were around $500.00 a month and paid that loan off in 2011. After 35 years finally getting around to renting out 19.5% of the house for depreciation reasons. It's never ending fixing or replacing drains, cleaning landscapes or replacing fences. As I move into retirement age will keep this going to finance my operating expenses. The reason being don't want to go on Medicare. As a rental making over $14,000 a year will qualify for CoveredCa. Because CoveredCa is less expensive than the governmental Medicare. Then maybe around age 70 years old will collect Social Security if it still exists ~

[@Carter1214]

Fantastic video! INSTANT FOLLOW!

[@thugblaster303]

Hey Graham, a video for current homeowners looking to upgrade would be a helpful video. Many of us feel stuck in starter homes with a low rate. I feel like now’s the time to buy as even if rates are up home prices will raise when they drop rates. Like button pressed!

[@pedro72246]

Sell now and rent. Did you even watch the video?

[@GrahamStephan]

Great suggestion! I’m seeing this become a LOT more common lately.

[@thugblaster303]

@@pedro72246 watching now, got to comment fast for Graham to see. Took the chance. Don’t forget to hit that like button!

[@HomestarCrawler]

Yeah, me too. I regret not buying a house 5-10 years earlier. Better a bit late than never though.

[@marcuse423]

I don’t know. After going from place to place renting I can say I regretted renting at a lot of places and they were luxury buildings. I went into buying a place knowing I wouldn’t get everything I wanted, but it’s close enough compared to places I’ve rented in the past. If one can buy a place they should jump on it, if the conditions you established are met.

[@zaklees.creative]

This video came around at a perfect time for me. Thank you Gram.

[@eliz4463]

I have been trying to buy a house for a while now but it has not worked out because the market keeps moving. I have been getting antsy, so I needed to hear this, lol. Thank you!

[@Donkiko-bz1lv]

Keep saving and buy next year .

[@youngblood23rb]

Keep saving, get out of debt and talk to home owners in the area you want to live, get a clear understanding of property tax and insurance cost

[@6speed818]

Why would you want to buy in this market. Your making the People rich that selling it.

[@youngblood23rb]

@@6speed818 Prices arent coming down and neither is rent

[@huynguyentoantin]

that's why his channel is popular :)) Psycho medicine

[@josephharty5048]

Your opening… “what’s up graham, it’s guys here”

[@christopheralan7600]

That’s how you know it’s bad news.

[@user-bj8nn7os1p]

😂

[@TzUuup]

It's getting pretty annoying. Clearly doing it on purpose

[@KYLE_FROM_THE_FUTURE]

Ok, I was like did nobody catch that 😂

[@jahigains9201]

He does it because people asked him to, so now it’s a thing he does

[@Daniel.rangel]

Graham, could you make a video on how you run the numbers to determine whether it's worth it to purchase a property?

[@americanwomen01]

😂🤣Graham’s opening line😂 What’s up Graham it’s guys🤣🤣🤣

[@hoopandhands3328]

Well lucky for me I can't even buy until 2025. So I'll just take my time.

[@GrahamStephan]

Patience is definitely key in this market

[@Donkiko-bz1lv]

Me too I’m timing it for summer 2025 if I keep saving and working hard I should have 100l for a down payment.

[@toxicthesniper8264]

Time in the market beats timing the market all of the time. I live my life by this

[@austingeorge6659]

Except when you buy at the absolute top and disinflation begins. "Every time" only counts when you can see the future; we can only see the past.

[@stephanpriatka6725]

Also...many buyers skipped home inspections just to get the house ... now those things are breaking

[@joevisone9131]

Great insight, Graham! Maintenance costs are certainly higher given inflation continues to run rampant. Since you also included Property tax in that statistic that also strongly drives those costs up given appreciation has a direct impact on property tax costs. It's not realistic to purchase a home on the brink of your budget. Folks should rent until they can put a substantial amount down on a home that has a monthly expense amounting to more than 30% of their household income.

[@patrickbutras5893]

Why regret it? Keep paying your payment and keep it moving…

[@handsomeyoungfella]

“man i really regret taking this job but i’m going to work here for the rest of my life anyway”

[@huynguyentoantin]

@@handsomeyoungfella oh you don't have to stay in your house for the rest of your life

[@DanTheVeterinarian]

I love your content Graham! but the wife and I just closed on your ranch home yesterday and our interest rate jumped from 2.5 to 7...however, we can have our ducks, chickens, goats, and sheep now, so life is good. :)

[@jamesrobinson7381]

One lesson I learned when I bought my 2nd house. Don't settle for something average. Before putting in an offer ask yourself if I had to settle quickly what is so special about this house that would help me unload it fast if I needed too? For instance, location to a park, a school, a great view, water feature, etc.

[@normbograham]

I've done electrical upgrades, in many many homes I've owned, and I do it myself since I often worked for an electrician. Usually, less then $500. This last time, It was closer to $10,000. Inflation hammered small dollar electrical parts.

[@mikeroni]

One counter point I’d offer to this video - with how competitive the market is, it feels like buyers don’t really have the time to thoroughly analyze a home before it’s snatched up by someone else

[@alonzor.2912]

This is exactly what I’m saying. I was just telling some family members over the weekend that at this point you have to bite the bullet and be willing to pay the price houses are being sold at if not they will be snatched up and/or find others at higher prices. It is ultimately a losers game

[@crimsontech0000]

In cases like this, it’s important to know what you want and what you’re willing to pay before you go look at a particular house. That way you will be ready, if the property checks all your “must have” boxes and hopefully a couple of your “nice to have”. I put down a deposit for a new build last month and feel like I rushed, but I knew what I wanted before I even visited the models so I knew the price was competitive and within my budget. I’m going to have to invest some cash to upgrade some of the more “basic” builder grade stuff but I’m ready for that.

[@moe4188]

I just bought my house a week ago, guess I’ll watch this video 🙄

[@GrahamStephan]

Hopefully it’s helpful, even in hindsight!

[@weerobot]

😂

[@pedro72246]

Already $100,000 under water

[@mwiltsey]

Good job buying your home! Our first house had an interest rate of 12% (1980's) and we don't regret buying it in the least. It's the best way for most people to accumulate wealth!! Wait awhile and refinance when mortgage interest rates go back down.

[@DoubleBarrel6969]

@@mwiltseyshut up Boomer, price price-to-income ratio was extremely low back then.

[@stevenknight6756]

Yeah yeah, but "rent is the most you will pay for" only applies until you need to renew your lease, which seems to be in shorter time intervals than the past and the rates keep rising. We got to the point, as renters, that we weren't paying much more for a house at all so we bought a house last year. I'm paying an extra $1000 toward the principal and in 10 years it'll be mine. I've been renting for almost 20 years and that market is just getting worse, too.

[@shawnjackson5623]

This is all true and great tips. I work in the Mortage industry. Honestly, home taxes have increased significantly the past year or so. This is probably one of the most overlooked cost of home ownership. Truly sad to see American dream dying.

[@PivotGuy401]

Why am i watching this i still cant afford a home lmao

[@GrahamStephan]

One day!

[@Donkiko-bz1lv]

You’re here because you’re tired of living in apartments 😂

[@natalieoj3078]

I'm opposed to making the owner rich off of me

[@EndCorporateWelfare]

It's either them or the government and the lender. But the landlord isn't charging you as much

[@daviddiehl565]

Then keeps renting (pissing your money away) or living with mommy!

[@natalieoj3078]

@@EndCorporateWelfare wrong

[@natalieoj3078]

@@daviddiehl565 wrong on every level

[@EndCorporateWelfare]

@@natalieoj3078 which part? I don't think I lied anywhere in my statement

[@nellygv14]

Some things to be aware of with converting a property into a trust - depending on your local property tax laws, some counties may consider any type of ownership change a reason to trigger an appraisal, which may end up in higher property taxes and subsequently having to go through a hearing with the local tax board. I know because we are going through this process ourselves. Also, you'll have to let your insurance know, which can also cause some issues. Finally, you likely CANNOT take out a home equity line of credit on a property in a trust. Make sure you read through all the nuances of converting into a trust before doing so! Yes, it can provide a measure of anonymity and makes estate planning easier, but it is not without its downsides.