When I bought my house, the guy handling my paperwork told me “with what you make, we could get you into a much bigger home”. I told him I didn’t want to be house poor. I regretted not getting the bigger home a little bit at first but I know 3 people who are now loosing their homes who listened to that same crap.

@ShaheedahHill

5 ай бұрын

Smart! @maltpatriot4919 Thanks for watching and sharing

@pokellaa

5 ай бұрын

Exactly. I too went budget wise... Little regrets at first, but now I'm happy I didn't max out for looks! Wow.... Dodged another trap!😮

@rsuriyop

5 ай бұрын

Which is why it's never a smart idea to try to buy as much home as you think you can afford. Me personally, I'm currently looking for something very modest, like in the 900 - 1,000 SF range only. Because it's all I really need.

@3-dreticle826

5 ай бұрын

They push that bigger home bigger resale value BS 🤡. I told them give me the cheapest basic base model.

@Algoo-X

5 ай бұрын

@@3-dreticle826they want those commissions 💰

Live within your means and don't worry about what everybody else has or drives

@ShaheedahHill

5 ай бұрын

@deanvoss7098 Thanks for watching and sharing

@missbell1634

5 ай бұрын

Best comment

@bubbajones4522

5 ай бұрын

People are living within their means but the globalists are pushing people out of home ownership and into rentals by increasing insurance and taxes. This is all part of the "You will own nothing and be happy" globalist plan.

@jared19882

5 ай бұрын

One of the signs I've noticed from people who cares about material stuff way too much are shoe people (think they can tell stuff from the type of shoes someone wears and knows what kind of shoes you wear).

@billyoung8118

5 ай бұрын

THIS! I'm all too happy to drive my car that I bought used, instead of being stuck with a hellacious payment.

My mortgage is about 10% of my income, I have zero debt aside from mortgage and it's amazing how freeing it is! My home isn't the biggest, or the nicest but it's perfect for me as a 30 year old single guy🙏🏼 praise the lord

@ShaheedahHill

4 ай бұрын

@elchavinha14 Thanks for watching and sharing

@nicolemarie3258

4 ай бұрын

Amen! Praise the Lord! God bless you! ❤

@abasoloyazmin

4 ай бұрын

Yes, Glory and Honor to the LORD! For everything we have is HIS.

@theybanthetruth4955

3 ай бұрын

Good for u, pat yourself on the back

@patriciacannon1829

Ай бұрын

U got the memo at a young age😊. Blessings to u.

When I got my home I bought a home based on minimum wage. I said if I lost my career job could pay this house with just minimum wage job. I also paid off student loans and all debts soon after I got my house. I chose a decent neighborhood and bought an older home with no neighborhood fees or association. Looking back I’m glad God gave me wisdom to make that choice.

@ShaheedahHill

4 ай бұрын

@mstk8845 Thanks for watching and sharing

@kimberlymartin459

4 ай бұрын

That is exactly how I figure out my home purchases too.

@BenjiiJackson

4 ай бұрын

Smart🫡💯

@noconsentgiven

4 ай бұрын

Righteous👍.

@treonfoster7370

3 ай бұрын

Exactly what I did

Everyone seems to forget that the bigger home also costs more to heat/cool... more to furnish/decorate.... more expensive for certain maintenence projects like painting/roofing/siding etc.

@ShaheedahHill

4 ай бұрын

@RalphJBater Thanks for watching and sharing

Thank God in heaven my queen & I started buying our house back in 2009 through the 1st time home buyers program...Lord willing we will have it paid off in a year & a half...we will pay off a 30 year mortgage in 16 years 😊

@tomreisinger6220

5 ай бұрын

Congrats, that's awesome, thirty years is too long no matter what the internet rate is.

@ShaheedahHill

5 ай бұрын

@smittyb9418 Thanks for watching and sharing

@Drayonis

4 ай бұрын

Congrats. Paid off mine in 13 years - turned around a few years later renovated it and expanded

@antonib765

4 ай бұрын

It will never be paid off , u still need to pay taxes u will never own that house ur delusional, sorry for the wake up call , oh and pay the insurance too , ur always going to paying for that money pit

@Drayonis

4 ай бұрын

@antonib765 you have to pay taxes on every large item you own. Registration yearly for a car and yes, property tax for a house. When you pay off your house, you're paying off a 3rd party (the bank). In my city, when you hit 65, your property tax drops to $300-$400 a year. Since you believe in renting forever, when do you stop paying rent?

When we bought our home, we used the one income step. If one of us loses a job, the other is able to pay for the mortgage. Unfortunately, now is harder for people to with inflated prices.

@ShaheedahHill

5 ай бұрын

Makes a lot of sense

@Neerdowellofyesteryear

5 ай бұрын

My husband and I did the same. our mortgage is less than 20% of our monthly take home

@arleneaugustahair8393

5 ай бұрын

It is exactly what my husband and I did. I just come behind him and pay extra on the mortgage principal. It’s definitely working.

@shondacheesecake

4 ай бұрын

Smart lady

@Elaine_713

3 ай бұрын

My husband and I did the same years ago! No regrets!

As a Mortgage Loan Originator with 16 years of experience, it's really sad. We qualify people based on Debt to Income ratio but within months, taxes go up insanely on homeowners! That's just crazy.

I’m dealing with this very issue right now. My mortgage has increased over $600 in 2 and a half years. I’m actually regretting buying a home at this point.

@mprrx

5 ай бұрын

Call the house insurance people and see if they can lower it"replacement value". Is over done by insurance co.

@ms.t8341

5 ай бұрын

@@mprrx I will look into it. Thank you.

@DallasTX_1122

5 ай бұрын

State Farm told me that they could do that and it would be cheaper; however still don’t fully understand the difference if lowered to replacement value?

@ShaheedahHill

5 ай бұрын

Try your best to think long-term. It will balance out and you shouldn't have these major increases moving forward. But I feel your pain. Thanks for watching. Make sure you are getting all homestead exemptions you qualify for in your state, that can help with property taxes and requote your insurance and see if you can save in that area. If you have a conventional mortgage see if you can get rid of your PMI with your current equity.

@rochelledavis5688

5 ай бұрын

How soon you can get rid of your PMI? I have a conventional loan. Purchased home in 2022.

I didn't know this beforehand, but thankfully, my salary has doubled since purchasing my home 8 years ago, so I've been able to keep up with the increases in taxes and insurance.

@ShaheedahHill

5 ай бұрын

@nikkis.9747 Thank God for Salary Increases 😊

@billyoung8118

5 ай бұрын

Happy for you! That is a nice feeling, isn't it? I've been in my house for almost 3 decades and have definitely a much greater salary than when I bought a new-build back then. Happy to have my house, and payments about half what people nearby who bought recently are stuck with. I refinanced during the low rates to pull money out to do a lot of remodeling & repairs so unfortunately I'm not close to paying it off. But still have a much lower payment than everyone else around me.

@user-sd5ow2lz9o

5 ай бұрын

Good for you, but unfortunately, many people will not get significant raises these days, unless they are lucky enough to be able to land a similar but higher paying job at a new employer every few years. But that is never guaranteed, and I think we all are expecting to get large salary increases annually if we manage to keep our jobs, but that doesn't happen at very many companies, or even government jobs anymore. Plus companies will eventually be forced to start laying people off when the economy starts to falter again, and even people with high salaries could find themselves out of work and unable to find a similar job at a similar salary. The explanations she have about how your various mortgage expenses are figured for the first year, but will change and rise over the years, even if your salary can't cover all your increased expenses anymore, was very well explained! More people need to see this terrific video!!! Planning for your future ability to still be able to pay a mortgage is more difficult than ever!!!

@terencescott3957

5 ай бұрын

I live in hurricane alley. For a while my house note got way out of hand due to insurance. It's still crazy now for a lot of folks around me but I'm doing OK now. Thanks to salary increases, investments and passive income. And I have kept my vehicles for a long time. I bought both new. One is 20 years old and the other is 15. I'm overdue and may treat myself at the end of the year.

@Nature-ep5cu

4 ай бұрын

Being in a house for 3 decades and still not paid off is ridiculous. Comfortable slavery.

I’ve watched family sell their houses and downsize because they couldn’t service their mortgages with the rates increases. My partner and I just bought our first home and bought well below our capacity because I didn’t want to go through the stress of having to sell / buy again. It’s certainly not our dream home, but we are comfortable financially, which was important to me.

@ShaheedahHill

5 ай бұрын

Smart move

@tthatssojazzyy

3 ай бұрын

Exactly! Same here

My sister bought first home (current home) with the thought that either she or her husband can comfortably afford should one of them stop working. Within a year she had to buy a new roof for $15k. That was hard but at least they didn’t have a mortgage that was killing them too. Savings for unforeseen expenses is a MUST.

@ShaheedahHill

5 ай бұрын

@AR-tk3cr Thanks for watching and sharing

Currently renting never owned a house before, people love to talk about the benefits of buying but always neglect to mention stuff like this lol & the repairs alone are risky. I still want to buy in the future just preparing myself fully for this big commitment

@ShaheedahHill

5 ай бұрын

@masterk5066 Thank you for watching

@mostmost1

5 ай бұрын

Repairs, lawn care, water and garbage bills and such. If your handy repairs become rewarding. I never lived in a house before I purchased my home. Always rented apartments and was fine. No rush.

@nuckingfuts3017

4 ай бұрын

That's how I initially felt for years. Bought in Sept 2022. I KNEW I was ready. When you're ready, you'll just KNOW

@Nate-vf2js

4 ай бұрын

For what u pay in rent that’s ur taxes

@MT-yx5cu

3 ай бұрын

​@@Nate-vf2jscan you explain?

As an active agent and recent home buyer in Ga Mrs Shaheeda is preaching truth here guys!

@ShaheedahHill

5 ай бұрын

@dlinder7 Thank you for watching and confirming

@TheeHuntress

4 ай бұрын

❤ I touched down in Atlanta today, with the intent of house hunting in the state for about the next two weeks. I am a veteran, and hope to find a house NOT in ATL or any other bigger cities. This is my first visit to the state of Georgia. Wish me luck, please 🤞🏽

@dlinder7

4 ай бұрын

@@TheeHuntress good luck!!🍀

Most of these tax policies are predatory, you would think people would be in the street fight to abolish some of this.

I’m seeing people in the neighborhood giving their cars back to the banks so they can afford their homes. They probably thought they could afford both, but with everything going up in price, some sacrificed and became a one car family. Times are rough out here.

@ShaheedahHill

5 ай бұрын

@atlhawksfan9330 Thanks for watching and sharing

@rayhill5767

5 ай бұрын

Makes payments on …. The house 2 cars Furniture Vacations Next thing you know you’re buying groceries on a credit card.

@Neerdowellofyesteryear

5 ай бұрын

Yeah. I'm reading people are paying 700+ for a car payment, iPhone which are 1K without tax and monthly payments, people have to have a 300K+ house, they have to live on 1300 apartments, etc. Yes, cost of living is expensive but it really sounds self inflicted. People need to learn to budget and live within their means.

@soulflowerpeace9236

4 ай бұрын

This is what I did...sold my new car and bought used so I wouldn't have a car note so I would he able to afford a mortgage...times are hard.

@FernandoSilva-wf9ly

3 ай бұрын

I did this, sold my car I owed abt 6k still and bought another in cash after. Oh well I got a house now I’ll buy something new later

When we bought our house about 7 years ago, the loan officer encouraged us to spend more and stated we could afford more than the properties we were looking. On paper, it is definitely different than in real life. We got caught in the 2008 loan debacle and had to sell the house we loved because of an unaffordable payment increase (ARM). We went way below what they approved us for and looking back, I'm so glad we learned from past mistakes. Please be careful, and please don't become house-poor.

@ShaheedahHill

5 ай бұрын

Thanks for watching and sharing

@FinessingFinance2024

2 ай бұрын

They WILL encourage you strongly to buy a more expensive house because their commission WILL be a percentage of your higher spend. Those realtors/loan officers are mostly looking out for their bottom line.

Yea, I’ve had this home for 5 years and the property taxes increased every single year. I’m so happy I purchased well below budget. I can’t imagine purchase a home right now with those interest rates.

@ShaheedahHill

5 ай бұрын

Great job!

@The_Thought_Exchange

4 ай бұрын

Same!!

We knew what we wanted and the realtors continued to try to steer us to a bigger better home. We’ve only bought smaller older homes and have been happy.

@ShaheedahHill

2 ай бұрын

@hharrison91 Thanks for watching and sharing

Really good tips. I find people buy too much home because the bank says they can afford it. Always buy based on your own budget. It's great to have a fully funded emergency fund in place before you purchase a home.

@ShaheedahHill

5 ай бұрын

Great insight, thanks for sharing.

I was approved for 400k.i bought my home for 270k & my lender kept telling me you can afford much more then that….no I’m good with my new build 3-2 2 garage 1,200sqft corner lot no hoa .😊

@ShaheedahHill

2 ай бұрын

Thanks for watching and sharing

As a lender, I tell my clients to call the county assessor and ask for an estimated tax amount for your new home. Especially on new construction but also for existing homes. You have to think the last time the taxes were assessed, the value may have been half of what you are paying. Yes seniors get a discount, but investors pay a higher rate. Find out what yours will be with the homestead exemption. Do your due diligence.

@ShaheedahHill

5 ай бұрын

@drcoffee5588 Thanks for watching and sharing

Buyers remorse is real. If you bought in the last two years, you overpaid and will have very little equity when its said and done. New home sales are down 39% in central Texas since 2022.

I bought my first house as a single father for me and my two children. I thought, "Hey, I can afford that a month," and thought that was all there was to it. I learned quickly that that is NOT all there is to it. If you can't afford the mortgage AND the emergencies that occur (water leak, HVAC breaks, roof repairs, random high utilities, etc.) you CAN'T afford that house. It takes a reliable source of income and a significant savings to afford a house.

In July my AC went out - it was $13K to replace. In Nov my plumbing had to be replaced (jackhammers, fix flooring, drywall, paint a HUGE mess) - it was $15K. I bought this home in Feb 2020 with 5% down and remodeled nearly all of it before refinancing Oct 2020 for 30 years at 2.75%. Luckily I bough way below my budget and my home has about 50% equity now (I am in Phoenix and my home has gone up a LOT since 2020). To all you first time buyers - be prepared for AC, plumbing and laundry list of other unknowns because no inspector will find them and they can sink you if you aren't ready for $25K+ in expense in a short period of time.

@fremontpathfinder8463

5 ай бұрын

Fortunately I don't have central air or heat. Not worth it in an older wonder years home built in 1955. I have an air unit in each room and a wall heater that has a fan in the attack which sends heat to all the rooms through vents. I also bought below what I qualified for.

@ShaheedahHill

5 ай бұрын

@abvincent12 Thank you for watching

@NutsNBerries

5 ай бұрын

Insurance can take care of that

@abvincent12

5 ай бұрын

@@NutsNBerries Homeowner's Insurance does not cover when your AC goes out or when your caste iron pipes are crumbling. A home warranty may help but they will only get it back to working condition, not fix the problem. Insurance is not what most people think - when random things stop working in your home your insurance company isn't going to rush in to pay for it.

@billyoung8118

5 ай бұрын

@@NutsNBerries Homeowners insurance does not replace worn out or maintenance issues. Homeowners insurance replaces damaged items that are triggered by a covered event (it would replace those items if they were damaged in a fire, or theft, or lightning strike, etc.) Homeowners does not replace worn out items whatsoever. You have a 25 year old roof that now leaks? That's a maintenance issue and you must replace it and repair all interior damage. A fire destroys your house, including that 25 year old roof? Insurance would rebuild the house including the roof. All policies are different - but these are standard coverages. There are 3rd party coverages for things like broken appliances, A/C or furnace, water supply lines, etc. But even those would have limitations based on the age and initial condition of the item. Your A/C is now 25 years old? That coverage would not buy you a new one when the old A/C dies. I've been a licensed insurance person for more than 20 years.

I wish Ihad seen this video 2 years ago. My husband and I had a townhome built (new construction) so of course we had no definitive amount as to how much the taxes wld be. The sales lady kept saying, "oh the taxes will not be any more than $3,500. Chile, we got our tax bill it was $7,800! Our mortgage went up $700! Had my husband not made the income he does, we would in no way been able to afford this home!!! So I totally get what she was saying about the tax increase. One homeowner has only been living here a year and she just put her townhome up for sale.

@ShaheedahHill

5 ай бұрын

@covergirl1419 Thanks for watching and sharing

@newbeginnings3603

5 ай бұрын

Yes, you have to be wise and do your research. They will tell you anything to make that sale.

@user-kx1sl8wd1s

4 ай бұрын

I’ve seen many videos about people speaking about this for new construction.

I'm glad I got my house when I did 11/21/2019. Right before prices skyrocketed.

Mrs. Hill, this should be on National News stations to let everyone understand this process. Cudos too you.

@ShaheedahHill

5 ай бұрын

@beekaye1496 Thank you for watching

Thank you for being transparent. All potential homeowners should be told or given these scenarios.

@ShaheedahHill

5 ай бұрын

@nadinestaine2 Thank you for watching

If your 100% disabled veteran like myself you’re property tax exempt which is a blessing plus if your a vet n use the VA loan you don’t pay closing cost in some cases and u are waived laying PMI

@ShaheedahHill

3 ай бұрын

@chrissmith197 Thank you for watching

@FinessingFinance2024

2 ай бұрын

What's PMI?

@K-sd5so

2 ай бұрын

Yep I have 💯 property tax deferment

@shprice88

2 ай бұрын

@@FinessingFinance2024 it’s mortgage insurance they tack on when you don’t put at least 20% down on your home.

@Ariel82137

Ай бұрын

Not every state

Great information! I'm an agent and I pride myself on being transparent like this and I love giving my clients all the details. We're not about to be house poor over here!!

@ShaheedahHill

5 ай бұрын

Amen!

I’ve never owned a home and I kind of understand what you was saying. I live in Noblesville, IN. When I’m ready to get my new home. I’ll need your help and your help alone. I see that you know your stuff. I’ve hit the like button and I’ve just subscribed. You will hear from me… in a year or two when I’m ready to get into a house. Great video!

@ShaheedahHill

2 ай бұрын

@GeneJ77 Thank you for watching

Also, new homeowners need to know, that unlike living in an apartment, if something breaks, it your responsibility to fix it. As this is my second home purchase, I was not ignorant to that fact. However, I was hit with replacing a roof on my home due to the fact the insurance company would not insure it or any damage that happened a result of it until I had it replaced. Even though repairs aren't paid directly through mortgage payments, it still cuts into the finances of the household. Always put something aside for those types of things. Another thing I always heard was before I ever thought of being a homeowner was, don't get a house payment that prohibits you from doing anything else. The term is house poor. That fancy house may look nice but you will only want to look at those wall for so long before you are ready to go outside and spend a little money. It's hard to spend what you don't have.

@ShaheedahHill

5 ай бұрын

@rspen2142 Thanks for watching and sharing

@DallasTX_1122

5 ай бұрын

Truth

@Sunshine4

5 ай бұрын

Truth be told, many apt management folks don't want to pay and pass it on to the tenant anyhow.

@Arienrhod

3 ай бұрын

Something ALWAYS breaks, and usually at the worst time possible. Sometimes I think my appliances collude.

@FinessingFinance2024

2 ай бұрын

​@Arienrhod😮😮😮

This is great information. Thanks so much for sharing. I just sold my first home and purchased my new home on 1/12/24 which is a DR Horton new construction. The loan officer has been highly encouraging me to pay an additional $416 each month towards my escrow because he said exactly what you shared. That my taxes are going to be much higher and my escrow will more than likely be under funded if I don’t put the additional payment towards escrow each month. At first, I was going to just pay the monthly amount minus the additional $416 in an effort to use that money elsewhere. But, this video was further confirmation that I absolutely should begin paying the additional amount towards escrow. Thank you once again for this information. Many Blessings to you.

@ShaheedahHill

5 ай бұрын

@naeemahricketts7192 Thank you for watching and please make sure you make sure the extra does go towards your escrow account.

@reginayfavors

5 ай бұрын

Sometimes it is hard for us to trust when someone is encouraging as in the loan officer. We're so used to folks withholding helpful information that we pull at the purse strings tighter as some kind of trauma bond, but I'm glad that you realized the benefit of paying the extra amount.

@starlakennard6715

5 ай бұрын

Why pay towards escrow and not principal

My favorite real estate person...this woman knowledge is 2nd to none...Black excellence at its finest being displayed.

@ShaheedahHill

5 ай бұрын

So sweet, thank you

@patriciabershak3821

5 ай бұрын

Smart and beautiful!

@malayss397

5 ай бұрын

Mines too she’s fire 🔥 🔥🔥

This is great information! Depending on someone's income is also a major issue for married couples too. You never know what issues may come up with your spouse, especially things that are health related. Also, having children can change a woman's desire to work full-time (or at all). Communication is key at the beginning, so if circumstances change the stress of affording a house and caring for young children does not strain finances or the relationship.

@ShaheedahHill

5 ай бұрын

@shelah4027 Thanks for watching and sharing

Funny how the market works. Few years ago it was a frenzy to buy. Now, buyers are regretting and wanting to sell.

@DallasTX_1122

5 ай бұрын

Because of the exorbitant expense. It’s cheaper to rent in this day and age than buy. It can work if it’s more then one income in the house hold and you can trust that others income. For example my insurance literally went up 35% just because.

@ShaheedahHill

5 ай бұрын

@pjohnson9436 Thank you for watching

@pjohnson9436

5 ай бұрын

@@ShaheedahHill no problem ma'am... appreciate your work.

@bettysmith4527

5 ай бұрын

It's all relative! It's just as expensive to rent as it is to own, property owners just pass the extra costs onto the tenants! @@DallasTX_1122

@innrpce

2 ай бұрын

U can work with insurance co to lower it. Ask How much are they insuring for? ​@@DallasTX_1122

At first, I rolled my eyes..thinking..people just chasing the dream and not doing their homework..BUT..after listening to your advise...you did more than just give the "what any prudent and responsible" person should already know..you laid down stuff that was truly eye raising, not common knowledge and a must need to know! Thank you so much for making this truly educational video! We as a Black community really need to get educated and get informed about how the "real" world works. All too often we get sold the dream and the socially carved out benefits that are "short term gifts" and then we think this is how the real world works all the time. We are kept ignorant and dependent on these gifts and as result, we are controlled in ways we dont even recognize. Thanks so much for helping to break the cycle of not being in the know.

@ShaheedahHill

5 ай бұрын

Thank you for watching it all the way through. I appreciate the feedback and insight.

Mrs Hill you are a great teacher. I was unexpectedly hit with a higher property tax on year 2. A senior citizen was the prior owner. Ugggh

@ShaheedahHill

5 ай бұрын

😊stick it out. It will all be worth it.

@Laura-ed5kf

5 ай бұрын

Yup. My condo was built in 1974 & the sellers were the original owners. I pulled the Assessor’s data on units sold in the past year to gauge what MY taxes would be!

@TheLazyHOAGardener

5 ай бұрын

That was also a huge issue with new construction, but hopefully, they have corrected this issue.

More people need to hear this! Especially the part about taxes. Our mortgage just increased by 2h per month due to increased insurance and property taxes. It's not the end of the world but it definitely has me thinking much more along the terms of getting mortgage free before taxes put us out on the streets. Thank you for this video.

@ShaheedahHill

5 ай бұрын

@schan9547 Thank you for watching

After a year in home buyers can have homestead on their home to maybe lower taxes a little 👍 and any other exemption like disabled or any other just to help I purchased my home 2022 taxes were 2100 I applied for homestead and my taxes for 2023 went down to 1400 ☺️

@ShaheedahHill

5 ай бұрын

@SoyhijadeDios77 Thank you for watching and sharing

@ruruvarela

5 ай бұрын

How does one apply for homestead?

@KFontLab

5 ай бұрын

I applied for Homestead when right after I moved in.

@ruruvarela

5 ай бұрын

@@KFontLab where do you apply for one?

My escrow shortage was $5,400 one year after purchasing a new construction home, and $2,700 after year two, due to insurance and taxes. If I didn't make those payments, my mortgage would have increased from $2,200 per month to $2,950. But the absolute worst part is I was notified only 45 days before them extra payments were due.

@ShaheedahHill

5 ай бұрын

@headhitter1 Thanks for watching and sharing

I want to buy but damn. There’s so much new information I’m learning about the process I’m like damn.

Avoid any realestate with an HOA attached like the plague, people! 😳

@candelariaw1668

5 ай бұрын

I’m in an HOA and since I chose this route, I’m in until I’m out.

@ShaheedahHill

5 ай бұрын

@alphaomega1351 Thank you for watching

@ShameenYakubu

5 ай бұрын

This is a good general rule of thumb but some condos are still very good investments

@KFontLab

5 ай бұрын

I believe if you are going to rent out your townhouse or condo the HOA fees are definitely important. I don’t love paying mine but they come around to groom and clean everything like clockwork. The HOA fees also cover a few other important things for my home.

@marriejames01

5 ай бұрын

I have HOA and they had to take care of major roofing issues and dry rot. I’m okay with HOA. It helps to be on the board to really know what’s going on.

Bought my house in 2020 with a mortgage of $1k/month taxes have increased it to $1300/month. The rapid increase in house values is unheard of. But I’m glad I started conservative with the price I wanted to pay.

@ShaheedahHill

3 ай бұрын

@darius318 Thank you for watching

On new construction, I always make sure to get the effective tax rate because a lot of times the builder's lender will only estimate the taxes on the land and not the improved property with the land. I rather over budget than under:)

@ShaheedahHill

5 ай бұрын

@Love4puppies Thank you for watching and sharing.

I'm glad you started with taxes. I thought I had done all the work I needed before buying my first home but little did I know the previous owners taxes weren't going to be mine. I'm beyond fortunate and grateful that I didn't bite off more than I could chew🙏

@ShaheedahHill

5 ай бұрын

Thank so much for watching and sharing!

Repairs and upgrades are often a huge expense when purchasing a house. It's rare that inspections catch everything, especially if you are buying an older home and insurance doesn't always cover it.. Make sure to have a good amount of cash in case you need to do repairs/upgrades in those first two years.

@ShaheedahHill

5 ай бұрын

@sappysuds4545 Thanks for watching and sharing

@cherylhenderson6519

5 ай бұрын

Mine missed a boiler failure. I was going to sue them but they fixed my boiler.

@mostmost1

5 ай бұрын

My inspector flagged damn near everything. I was approved for 15k to fix the roof and other stuff. It was a hassle but I'm glad they were so thorough at the beginning.

I brought my 1st home 7 years ago & back than my budget was 400k so I brought a house with good bones and no updates for 165k. Looking at life now I’m super happy I did that even with taxes & insurance & maintenance owning still is affordable for me

@ShaheedahHill

4 ай бұрын

So smart! @nonamebae Thanks for watching and sharing

This is a good one. I’m one year into ownership in March and consider going back to renting all the time. Haven’t pulled the trigger but I just don’t see the excitement anymore and it’s just me. Real estate isn’t what it was before. I have to say my lender did good estimating taxes. I have over $2,100 left in escrow even after taxes and insurance was taken out. I get text messages every day of people wanting to offer me to purchase my home I just haven’t responded. I wonder are those offers real. I had a good emergency fund at least I thought going into it a year ago but all has just been spent on other needs with rising costs of everything. I have to say it’s hard doing everything when it’s just you, even if you make a good income.

@ShaheedahHill

5 ай бұрын

Hang in there, think 10 years from now 😊

@DallasTX_1122

5 ай бұрын

@@ShaheedahHillI am trying. I am in banking so I just hope to keep my job when I see sooo many layoffs on LinkedIn daily.

@cebrinachandler1708

5 ай бұрын

I see you’re in the DFW area me too. A decent apartment is going to cost you almost as much as a house. You would be better off just hanging in there. Maybe try to refinance or get a second job or rent out a room. Trust me you don’t want to go back to renting.

@DallasTX_1122

5 ай бұрын

@@cebrinachandler1708 ​​⁠ There’s no way it would. My 1 bedroom new apartment was $1,620/month and included a garage. This was only about 8 months ago. My mortgage with escrow is around $2,900. People saying that it’s cheaper to buy than rent are just selling a dream and it isn’t true, at least with a decent house in this day and age around $350k. I refuse to rent out a room as I am not at all a people person. Possibly a second job but it’s sad to have to do that when you make over 6 figures a year but it is what it is. I think all in all I’m just really tired of the high monthly payment honestly and it’s just me. I also am just concerned about the high layoff rate currently as I am in banking. I got a 5.75% rate when I bought so refinancing won’t make sense for a long while likely.

@candelariaw1668

5 ай бұрын

@@DallasTX_1122you need to sit down and write down where all your money is going every month. You may need to reduce excess spending, cut back on some things. I brought a house less than a year ago and at first I was feeling like why did I buy this house, but I got to thinking about how much money I wasted while renting, I rented for 12 years moved 4 times and I just couldn’t do that anymore. So I had to sit down and really evaluate how I was spending my money since I brought the house, once I realized it I am in a better position. You won’t recoup what you spent if you sell before 5 years. So try to hang in there, pray about it and trust God didn’t give you that house to watch you suffer and lose it.

We need a video for those that are in this predicament and the best way to rectify it.

@ShaheedahHill

5 ай бұрын

I'll work on it....

My CS have been a 863 for the past two years. I know how to stay steady. I am proud of myself!

This is so good to know before buying a house. I bought my house over a year ago and this year my payment went up for underpayment of taxes. Now, they added the actual payment and added how much they paid for me, so I have to pay back the underpayment and the new payment.

@ShaheedahHill

5 ай бұрын

@courajessmoney Thank you for watching

Buying a home that is more expensive than what you need. Forgetting that taxes insurance maintenance are part of costs

Wow! 😮 this is good to know, I didn’t know about this, thank you this information is very helpful 👍🏽👍🏽👍🏽

@ShaheedahHill

5 ай бұрын

@marlenegreen5319 Thank you for watching

This was so good!!! Thank you

I just found this out ** not new construction of something knocked down ** but if you leave one wall standing of the old property and renovate the rest you pay the taxes of the old house still not the new renovated property

@ShaheedahHill

5 ай бұрын

@lilamontoya5609 Thank you for watching

@zoop77

5 ай бұрын

DC changed that rule…. If you remove any exterior walls it’s considered new construction… yeah they are attempting to make you sale your property

@kimberlynhughes3658

3 ай бұрын

Wow that’s great information! What state?

I was able to purchase a nice home and 4.95 rural acres of land for only 60k from my uncle im glad too cuz whewww its ppl paying crazy prices here in NC for an apartment I couldn’t do it I’m glad he looked out for me

@ShaheedahHill

5 ай бұрын

@bossup6207 Thanks for watching and sharing

@marcusbennette8454

5 ай бұрын

What part of NC are you in? I just left there a year ago to Florida.

@bossup6207

5 ай бұрын

@@marcusbennette8454 I live in the raeford area not far from Fayetteville

The first 3 are all of the reasons I dropped out of the housing market.The taxes and insurance rates in Florida are thru the roof. And most of the really nice homes are apart of an HOA. It was a no win for me 😔

@ShaheedahHill

5 ай бұрын

Thanks for watching, come to Georgia 😊

@latroyaltaylor8985

5 ай бұрын

@@ShaheedahHill I have really been considering it 😁❤️

This is an excellent and detailed video on what new home buyers need to take in to consideration when purchasing a home. Thank you so much for making this video. I took detailed notes!

@ShaheedahHill

5 ай бұрын

Glad it was helpful!

So true!! Learned the hard way with my first home. It was a townhome in Atlanta. HOA and taxes were the biggest pain. I waived escrow on my current home so that I know what to expect each month

@ShaheedahHill

5 ай бұрын

@janaig8828 Thanks for watching and sharing

@se2664

5 ай бұрын

What is escrow

@Jenvlogs404

5 ай бұрын

Is there an option to waive it?

@nicolesmith9140

5 ай бұрын

You can waive escrow if you put 20% or more down.

I love the info in the videos. hoping to make my purchase soon .

@ShaheedahHill

5 ай бұрын

@angelica7236 Thank you for watching

Thanks for keeping us INFORMED ❤

@ShaheedahHill

5 ай бұрын

@lovelylisa8113 Thank you for watching

Thank you, for sharing this information, it was a lesson learned from this year. ❤😊🙏🏼

@ShaheedahHill

5 ай бұрын

@michelarosier1918 Thank you for watching

Thank you for producing this video. Its something I wish I had seen before I bought my first home.

@ShaheedahHill

5 ай бұрын

Yes, it's one that is particularly important now with prices increasing so quickly. Thanks for watching

Wonderful video all of these points have made me very cautious about buying at this time. I don’t want to put myself in a bad financial situation.

@ShaheedahHill

5 ай бұрын

@corinnelangston3573 Thank you for watching

Thank you I appreciate this video. I’m in the process of transitioning living arrangements and I will take everything said into account!

@ShaheedahHill

5 ай бұрын

@bb9391 Thank you for watching

I’m a new subscriber, but you’re a real one! You come with the stuff most people don’t think of. Love it!

@ShaheedahHill

5 ай бұрын

@catt3911 Thank you for watching

This is very informative. It’s hard not to feel discouraged about the future possibilities of owning a home with all the challenges and potential changes that can push you over the edge to home-owning-poverty even after you think you had everything figured out

@ShaheedahHill

4 ай бұрын

@malcolmhodnett8874 Thank you for watching

This is sorta off topic but you resemble the actress Erika Alexandria from Living Single❤️ Great video as well :)

@ShaheedahHill

5 ай бұрын

I get that a lot😂Maxine Shaw - Attorney at Law @cassiesarchives Thank you for watching

Once again, GREAT information - thank you!

@ShaheedahHill

5 ай бұрын

Thanks for watching!

All the work you put into your industry. Upload after upload. You are on fire.

@ShaheedahHill

5 ай бұрын

Thanks so much

I’m grateful to work at a mortgage company sad stories everyday I plan to be a lot smarter about my purchase when im ready

I’ve done so much research on buying a home and you literally summed up all of the financial worries that I have had into one video- thank you 🙏❤️ you’re amazing for sharing this

@ShaheedahHill

3 ай бұрын

Wow that is great, thank you for watching. @leannapulver3800 Avoid Costly Mistakes by Buying My First Time Homebuyer Masterclass and Digital Confidently Closed Handbook - bit.ly/47s4pT7

Good info!

Very informative. I am a Realtor in CA and would encourage people who are considering to buy a home to take all of what Shaheedah is suggesting in consideration prior to making a home purchase.

@ShaheedahHill

5 ай бұрын

Thank you!

I bought my home, single at 26 years old. New construction that was still being built after i closed. This was in 2010 nov. I dont recall my mortgage increasing much at all in those first few years. Its a 3 bed/ 2 bath and it has never gone over $1100 thank God. I recently called my mortgage company and was advised my payment is going down this upcoming year with an $800 check in mail for overpaying on escrow. Its smart to have mortgage automatic draft, i pay half of it and then the other half two weeks later by 15th with extra on escrow, also extra towards principle. All in all, it was a smart purchase my equity is double what i signed up for. Still single lol, still in the same home i thought by now i would have out grown the home with children, maybe one day. Until then guess im still here. I dont think this market is the best for buying now.

@ShaheedahHill

5 ай бұрын

@Net446 Thanks for watching and sharing

@christopherwangui9988

3 ай бұрын

I am single too and I bought my house 1 year ago and it's not easy to manage it

This is great Video. Thanks for putting this information out there.

@ShaheedahHill

4 ай бұрын

My pleasure! @classiqcoco Thank you for watching

You are so methodical in your approach. We just bought a house last year and ended up buying VERY conservatively. So thankful we did as the cost of life has been so much more than even last year. Thanks for your video. I love the way you teach.

@ShaheedahHill

4 ай бұрын

Thank you so much for the feeback and congratulations on your home purchase.

This was definitely very helpful! Thank you!

@ShaheedahHill

5 ай бұрын

You're so welcome!

Gm Shaheedah thanks for all those info .

@ShaheedahHill

5 ай бұрын

@annettepennant5672 Thank you for watching

Very informative. Thank you. It is refreshing to have this explained in such a relatable, digestive way. I always advise people that a home us much more than a mortgage payment.

@ShaheedahHill

5 ай бұрын

You are so welcome!

Wow, I learned a lot today this is going to help out a lot while we are looking for 🏘.

@ShaheedahHill

5 ай бұрын

@mrs.demetrialewis2730 Thank you for watching

I really wish you would’ve been my realtor. I really went in blind. Thanks for the video.

@ShaheedahHill

5 ай бұрын

Thanks for watching, and now that you have the wisdom of your experience, you can share with others. Be proud of taking the steps you made to become a homeowner.

Videos like this really helped in the home buying process.

@ShaheedahHill

5 ай бұрын

@mybookoflife748 Thank you for watching

Such great info- thanks

@ShaheedahHill

5 ай бұрын

Thanks for watching

Great information I would also recommend mortgage insurance and have the real estate agent go the comps in the area in reference to property taxes.

I absolutely love your channel.

@ShaheedahHill

5 ай бұрын

@charlesclimineda8080 Thank you for for you love and support.

This is so needed. I purchased my first home (a townhome)two years ago and was not told any of this. I was educated on how to purchase my home( income, credit, debt to income ratio) but not some of these other key factors you are speaking on. My HOA fees have increased several time since I’ve purchased my home and are double what they were when I purchased and my taxes have gone up slightly every year. I really wish that these things would be discussed more especially as there is this push to get certain communities into homeownership in attempts to help close the wealth gap. While that’s good and all we need to do a better job in educating on sustainability of owning a home so people can make a well informed decision. Because although closing the gap of wealth is important…. homeownership is just not for everyone and that’s ok. What good is it if we are getting folks to purchase homes that they cannot sustain and then they have to sell it or they lose their homes because they can no longer afford it.

@ShaheedahHill

4 ай бұрын

Great points and thank you so much for sharing!

Thank you for this video. I found it very helpful. Also, many comments I read gave insightful tips. I will have alot of helpful information when I begin to purchase my future home. Thank you. God bless everyone ❤

@ShaheedahHill

4 ай бұрын

You are so welcome!

Thank you for being transparent and informative. Lots of lenders, real estate agents NEVER mention tax increases, or supplemental tax bills. As a nurse l speak a completely different language l don't expect a non-medical person to understand our terminology. I was surprised with a supplemental tax bill soon after l purchased my home. Luckily l was able to afford it, but it was not a good surprise. When l asked both my lender and RE agent what it meant they pretty much said "we don't get involved with taxes"🤦🏻‍♀️ You did an excellent job breaking down how taxes are calculated! I legit wish they'd show your video.

@ShaheedahHill

5 ай бұрын

Thanks for watching and for sharing

A lot of people in America are focusing on being a first time home buyer and I think we have it all backwards. I’m in a group of 1.1 million folks on Facebook that are ditching their mortgage and building tiny homes or off grid cabins in the woods. You can build a tiny home for less than 30K and be mortgage free almost immediately. Folks with huge houses are only buying things to put into rooms they will no longer use in 3-5 years.

@miguelayala935

4 ай бұрын

How do you deal with trash?

@kimberlynhughes3658

3 ай бұрын

I love tiny homes and have researched them but you have to have a place to put them. You have to find loopholes in zoning unless you know someone who is willing to let you put them on their property. If you put them in the woods, can you plumb for water or do you use a rain catchment system (I doubt you can drill a well on public land, plus why would you go to that expense on property that doesn’t belong to you)?

@WillEdmond

3 ай бұрын

@@kimberlynhughes3658 there are many places in most states that have unrestricted land that allow tiny homes and RVs especially in Texas. There’s no loopholes if you search for the right land. It’s actually easy. I know many people that do it. And I do it myself. Buying a traditional home these days are just for bragging rights to show your friends and family that you paid 400K for a house. I’d take a cabin or tiny house in the woods any day. Furthermore, you can still drill wells. A well can cost 7K-10K and you will have free water for the rest of your life. I’m living on land where we have two wells that are still operating with amazing water.

@susanschroeder3512

3 ай бұрын

@@WillEdmond "Bragging Rights" IS more like what you are trying to do. Sorryyyy, we buy traditional homes for our Children to enjoy good schools, neighbors, safety community and stability. Stay by yourself in your box, kudos to you.

Great video. A lot of people have no idea what they are getting into, and it will be 2007 all over again.

@ShaheedahHill

5 ай бұрын

@TheLazyHOAGardener Thank you for watching

Very informational. You got a new subscriber. Sure I would learn more by doing so.

@ShaheedahHill

5 ай бұрын

@robnunez1772 Thank you for watching and Welcome to the channel!

Thank you so much for this information ❤

@ShaheedahHill

5 ай бұрын

Most welcome 😊

Very helpful thank you ❤

@ShaheedahHill

5 ай бұрын

@Tgallager2742 Thank you for watching

I bought new construction and you're right about the property taxes. So many people in my neighborhood fb group have been in a panic because their mortgages are skyrocketing in the second year because that's the first time they're taxed on the full property value. As for me, I calculated my taxes based on the full value, so I'm okay!

@ShaheedahHill

5 ай бұрын

So smart, most lenders know taxes will increase but some give a choice when they initially set up the escrow account. @summertownley4986 Thanks for watching and sharing

Thank you for sharing this much need info.

@ShaheedahHill

2 ай бұрын

Thanks for watching

Very educational and insightful - thank you !

@ShaheedahHill

5 ай бұрын

Glad it was helpful!

I bought my 1st home in 2006. Unfortunately, the housing market crashed in 08. I saw the value of my home plummet. However, my insurance and taxes went down and were cheaper as well. I saved thousands in taxes/ insurance because I lived in an area with several foreclosures nearby.

@ShaheedahHill

5 ай бұрын

@millertoyal Thanks for watching and sharing