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

  • @troybond
    @troybond17 күн бұрын

    You guys are the best! humour and wit interspersed.

  • @Cleanasdirt2182
    @Cleanasdirt218225 күн бұрын

    Ted chuckling at the fact of all the divorces. Priceless!

  • @Oldeagle66
    @Oldeagle6618 күн бұрын

    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.

  • @Comicallycanadian
    @Comicallycanadian25 күн бұрын

    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.

  • @julies3490
    @julies349025 күн бұрын

    Came here as my podcast wouldn't load for this episode on Apple weirdly

  • @rockviper66

    @rockviper66

    25 күн бұрын

    Me too!

  • @allanmitchell9342

    @allanmitchell9342

    24 күн бұрын

    Me three. Tried on Spotify and Amazon too. Same thing.

  • @casao17

    @casao17

    23 күн бұрын

    Same here. Even tried downloading the episode (instead of streaming) and even that wasn’t possible.

  • @ernstfischer8976
    @ernstfischer897624 күн бұрын

    Why are they putting on headphones sitting across from each other?

  • @Jacobysin

    @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.

  • @rssmith289
    @rssmith28925 күн бұрын

    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.

  • @daralynx2
    @daralynx219 күн бұрын

    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.