Hidden Costs of Buying a Home - Surprise Home Ownership Expenses
Join Doug and Ted as they uncover the hidden costs of home ownership that often surprise new homeowners. From maintenance and repairs to rising interest rates and potential job loss, they discuss real-life examples and offer practical advice on deciding whether to buy a home, mitigating risks, and estimating unforeseen costs. Plus, they break down the costs of renting versus buying in today's market. Don’t miss this informative discussion on the true cost of owning a home.
Time Stamps:
00:00 Introduction
01:20 Mortgage vs rent payments
03:31 Upfront costs of purchasing a home
04:41 Maintenance costs
16:05 Unexpected costs of home ownership
18:18 Practical advice
27:22 Conclusion
Related Links:
Homeowners Bankruptcy Index: www.hoyes.com/press/homeowner...
Hoyes Michalos Bankruptcy Study: www.hoyes.com/press/joe-debtor/
Renting Vs. Buying: Which One Makes More Sense?: www.hoyes.com/blog/renting-vs...
Why Does Home Ownership Cause Financial Problems?: www.hoyes.com/blog/why-does-h...
How to Avoid Being House Poor - www.hoyes.com/blog/how-to-avo...
Why a House Does Not Guarantee Financial Security: www.hoyes.com/blog/why-a-hous...
How to Get a Mortgage Even After Bankruptcy: www.hoyes.com/blog/how-to-get...
Пікірлер: 12
You guys are the best! humour and wit interspersed.
Ted chuckling at the fact of all the divorces. Priceless!
I was approved based on my credit score and income for a loan to purchase a condo and backed out after doing my research and crunching the numbers. I couldn't really afford it and they really didn't care, and probably knew it. Just a sale for the realtor company. I owned a home in the past and was aware of all the hidden expenses.
great episode. I learned a lot even as a long term hole owner. I'm newly a money nerd and I'm enjoying your content.
Came here as my podcast wouldn't load for this episode on Apple weirdly
@rockviper66
25 күн бұрын
Me too!
@allanmitchell9342
24 күн бұрын
Me three. Tried on Spotify and Amazon too. Same thing.
@casao17
23 күн бұрын
Same here. Even tried downloading the episode (instead of streaming) and even that wasn’t possible.
Why are they putting on headphones sitting across from each other?
@Jacobysin
15 күн бұрын
Because it’s a podcast set up. It’s so they can hear each other and themselves to monitor the sound level of their voices.
I'll be watching your podcasts on KZread, The podcast would not load on Amazon Music. I like this format because I can see the personalities rather just hearing the podcast. I live in the Southern California (USA) and most of the items that have been addressed apply (exception - basement) to our dwellings as well. In the USA our loan terms are generally for 15 years, 25 years, or 30 years.
The real hidden cost is your buyer's agent. Realtors have been forced to tell you they arent free after lying to us for decades. Now when the seller concession is $10k and it either benefits the buyer OR pays their agent, the true cost will no longer be hidden.