Thinking about buying your first home? Already in the process? Home buying is a big decision and a massive expense, but there are ways we can enter this process equipped with knowledge to get the best possible deal and make the most of our money. Listen in as Scott and Mindy share from their own research and experience the things we should know as first time home buyers!
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- Surprise! No really, surprise is the sponsor of today’s episode. The surprise that comes with a call from your landlord telling you you have 6 weeks to get out of his duplex. The surprise that comes with being outbid on every single house you put an offer on. And the surprise that your wife has gone under contract with a house you haven’t seen yet. Surprise. It is the spice of life so they say.
Get more about home buying with these other FF episodes!
- Tell us about the strategy behind buying your first home.
- Understand exit options
- Analyze rental opportunities
- Is there anything else you should do before you download the Zillow app and glue yourself to it indefinitely?
- Define a good deal
- Prepare financially
- We recently heard that there are more real estate agents than homes for sale. What are the secrets to choosing a good real estate agent when there are so many?
- Do your research – ‘big sales’ are not necessarily an indicator of being the ‘best’
- Get recommendations – read reviews!
- What are some things about the actual home buying process that first time homebuyers aren’t aware of?
- Costs! It’s not just about the down-payment
BILL OF THE WEEK –
Thank you Scott and Mindy for sharing your bills of the week!
-Mindy: ‘millionnaire’s scratch pad’ – notebook style filled with actual $2 bills
-Scott: internet bill which is reimbursable through wife’s company. yay!
If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill
First home buying experience; was it a lovely memory or nightmare?
- Mindy- First home was a condo – increased HOA fees, BUT overall good experience and sparked excitement about future real estate investing
- Scott- Duplex in Denver, needed to live in it
- Jill- Experience went as flawlessly as could be expected – very pleasantly surprised. Although a LOT more unanticipated costs/fees than I imagined!
- Jen- Kicked out of duplex rental, bought a home…but it’s a good home!
Get more from Scott and Mindy at:
-Get the Book: First Time Home Buyer
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Thanks for listening! See you next week!