Homebuyer’s remorse: most people who bought a house recently have regrets

[Raw Lyrics]

Lmaooo yeah owning your own home everything all on you.. no calling the landlord or Super to come fix shyt

Plus the first 10 years of home ownership is usually the most stressful.. afterwards you good

fukk that "calling the landlord" every time something significant needs repairs...that shyt is for the birds. Did that shyt all my life and it's horrible having to wait on another man to decide when he's ready to fix shyt.

Sitting there hoping he sends the plumber or electrician in the timely fashion.

So glad I don't have to deal with that shyt now, yea it's a struggle but it's in my hands. I can hire the best tradesmen I can afford and not worry about some damn landlord.

 

[beenz]

Ceilings on my first floor are high as hell at one part

Going to replace the high ass light fixture with a fan, should help lower costs.

ceiling fans and low ceilings significantly increase energy efficiency.

 

[MoveForward]

My bank randomly sent me an e-mail saying that I could be approved for a home loan up to 480k. Why would I buy a house for that much when I know those same homes were selling for 250k two year ago? I honestly feel like if we get one good recession and people get laid off, the housing market will tank big time because they bought these ridiculously expensive ass houses this year. My single homegirl bought a house for 420k, that’s just not wise in my opinion.

 

[Orange cream shake]

this isn’t out of the norm. There is always going to be people who bought at the top of their budget. Always going to be people who feel like they paid too much for their house. Always going to be people who hate the house they bought for various reasons. This is click bait at best. At the end of the day you have to make your on budget and determine what you can afford outside of what the bank approves you for. Don’t settle on location, structure or quality of the home unless you intend on renovating and or moving in a short period of time. My friend bought back in 2018-2019 and they regret buying the house they bought because of age of the home and location.

 

[GatorStaceyAdams]

this isn’t out of the norm. There is always going to be people who bought at the top of their budget. Always going to be people who feel like they paid too much for their house. Always going to be people who hate the house they bought for various reasons. This is click bait at best. At the end of the day you have to make your on budget and determine what you can afford outside of what the bank approves you for. Don’t settle on location, structure or quality of the home unless you intend on renovating and or moving in a short period of time. My friend bought back in 2018-2019 and they regret buying the house they bought because of age of the home and location.

Are you saying that the RE market did not experience a huge FOMO moment over the past two years?

At what point have we ever seen people waiting in line for hours for an open house? Or making offers sight unseen? Or waiving inspection?

I feel that people were much more diligent even before the housing crisis. They were more levered, of course, but waiving inspection is a very new and very dangerous phenomena.

 

[cyndaquil]

Next best time to buy a house? When all these new home owners start to get foreclosed on. It's terrible but profitable

 

[BigMoneyGrip]

fukk that "calling the landlord" every time something significant needs repairs...that shyt is for the birds. Did that shyt all my life and it's horrible having to wait on another man to decide when he's ready to fix shyt.

Sitting there hoping he sends the plumber or electrician in the timely fashion.

So glad I don't have to deal with that shyt now, yea it's a struggle but it's in my hands. I can hire the best tradesmen I can afford and not worry about some damn landlord.

Facts

 

[The Devil's Advocate]

Question, what are some other things to look for during a recession?

Say, someone was looking to purchase a new car. Would shopping during a recession make sense? I'll need a new car within the next two years and shyt is looking bleak

It'd be easier to name things that go up in price. It's a recession because EVERYTHING is going backwards. The problem with waiting on a recession is, will you have a job? Will you be affording your bills? What makes you think you're going to be one of the people who aren't suffering?

That's where you got to bet on yourself/your career. I work for the state gov in a position that cannot go anywhere. In fact, we are getting a few more states' contracts in so we're even more sewn up. So I feel like instead of spending when it's high, I can keep stacking and get something nice cause I won't be hurting (god willing). I could easily get laid off, have to use my savings and be broke quickly.. Same way someone who bought a house can lose their job and their house and be broke quickly....

I'm just trying to be the guy to buy their house... And not the broke one. You'd be looking for the guy who can't afford his car anymore

 

[SadimirPutin]

Also here is the thing

When you buy a house you still gotta spend money to get it to where you want it and where it fits your personal preferences and aesthetics

You begin to find out all the little quirks and annoyances......

That money that your thirsty ass spend overbidding could have gone to those same changes you gonna have to make anyway

 

[Dave24]

@At30wecashout

@Dameon Farrow

@Wink Beaufield

@BEN23

@Booksnrain

@bourgeoisie tall freak

@GatorStaceyAdams

@Originalman

@Gator Reloaded

@tater

@The Devil's Advocate

@Gloxina

@BaldingSoHard

@SadimirPutin

@Orange cream shake

@cyndaquil



I would like to learn more about real estate and home owenership and mortgages in general. What are the best books you would recommend to learn more?

 

[At30wecashout]

Also here is the thing

When you buy a house you still gotta spend money to get it to where you want it and where it fits your personal preferences and aesthetics

You begin to find out all the little quirks and annoyances......

That money that your thirsty ass spend overbidding could have gone to those same changes you gonna have to make anyway

Spend 500k on a home and buy all of your furniture disassembled from Amazon, brehs.

 

[Booker Carver]

@At30wecashout

@Dameon Farrow

@Wink Beaufield

@BEN23

@Booksnrain

@bourgeoisie tall freak

@GatorStaceyAdams

@Originalman

@Gator Reloaded

@tater

@The Devil's Advocate

@Gloxina

@BaldingSoHard

@SadimirPutin

@Orange cream shake

@cyndaquil



I would like to learn more about real estate and home owenership and mortgages in general. What are the best books you would recommend to learn more?

I’m in the mortgage industry. Let me know what questions you have.

 

[Dave24]

I’m in the mortgage industry. Let me know what questions you have.

Thanks. I don't really have any specific questions but want to learn more about home ownership and the real estate/mortgage industry in general. Are there any good books you would recommend that give a very good overview?

 

[Sad Bunny]

@At30wecashout

@Dameon Farrow

@Wink Beaufield

@BEN23

@Booksnrain

@bourgeoisie tall freak

@GatorStaceyAdams

@Originalman

@Gator Reloaded

@tater

@The Devil's Advocate

@Gloxina

@BaldingSoHard

@SadimirPutin

@Orange cream shake

@cyndaquil



I would like to learn more about real estate and home owenership and mortgages in general. What are the best books you would recommend to learn more?

Just use google YouTube Reddit and talk to people.

 

[cyndaquil]

Thanks. I don't really have any specific questions but want to learn more about home ownership and the real estate/mortgage industry in general. Are there any good books you would recommend that give a very good overview?

You don't need books at first just learn about houses.
Learn the types of mortgage loans(conventional, non-conventional etc.). 15 year, 30 year. How interest rates work. Home equity line of credit. Types of mortgage lenders etc.
Once you learn that I'd look into valuation of houses and what homes pass inspections and what don't.

I wouldn't spend money on books until I had a more intermediate level of knowledge and I'd like to learn information that isn't just easily researched facts but strategies and insights by experts with years of experience.