152 – Interview With A Baltimore Area First Time Home Buyer Couple - How They Did It
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 27 December 2022
⏱️ 36 minutes
🧾️ Download transcript
Summary
Is it possible to buy your first home in a very expensive area with just one income? This Baltimore first time home buyer couple did it! Allison and Ephraim found out their rent was going up 30%, and they discovered it was over $10,000 cheaper to break their lease and buy their first home with only ONE of their incomes, and pay on $50 more a month in a mortgage. It helped a lot that Ephraim’s dad was a Realtor and that really helped them set up a unicorn team. But even if you’re not fortunate enough to be related to someone so highly-attuned to your market, you’re going to pick a lot of value from this episode. Tune in for a lot of incredible tips, tricks, and hacks, including how they used the podcast to help them!
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | What do you do if you live in a city like, oh, I don't know, Baltimore, and you find out your |
| 0:04.8 | building got sold, and your rent's going to go up 30%. |
| 0:07.7 | Well, if you're like these two, you figure out that breaking your lease will actually save |
| 0:13.6 | you $10,000. |
| 0:16.1 | So you do that, you find a home to buy, and your monthly payment is 50 bucks more than the rent |
| 0:23.7 | they were going to charge you. Let's hear this story. |
| 0:43.3 | I'm not here. Gang, this is an amazing interview. |
| 0:45.1 | I'm going to give you some of the highlights right now. |
| 0:46.5 | We've got newlyweds. |
| 0:51.1 | We've got one income because he's still in school. |
| 0:56.8 | We've got people who end up paying only $50 more a month than what their rent was going to be since, guess what, their rent's going up 30%. So, gang, it's true. Breaking your |
| 1:02.8 | lease is sometimes the right thing for you to do. There's lots of great information in here, |
| 1:08.0 | talking about how they use the podcast to help them with credit, with budgeting, |
| 1:11.9 | with finding apps to help them figure out how to start their plan and then eventually get the |
| 1:16.9 | place. There's also some really fun couple stuff here so you can see how it works to buy a home |
| 1:22.4 | when one person's researching like crazy and the other person has a dad who works in real estate. That was pretty |
| 1:28.9 | interesting. And listen close because there's also a really good tip here on avoiding wire fraud. |
| 1:35.7 | All right, let's hear from Allison and Ephraim. Okay, everybody, well, let's get right to it. |
| 1:41.7 | Introduce yourself to the world. Say hi to the homies. Who are you? |
| 1:45.2 | Hi, I'm Allison. And I'm Ephraim. Hi, guys. Okay, so we're going to get to know you in just a little |
| 1:52.2 | bit, but people are here because, frankly, they're mad at you because you have a house and they don't. |
| 1:57.6 | So tell them what you guys did. Give us a little one of your tips and tricks. |
... |
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