236 - Interview with First Time Home Buyer Navigating High Interest Rates + (mini) 2024 Housing Market Update!
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 22 June 2024
⏱️ 32 minutes
🧾️ Download transcript
Summary
From renter to homeowner in weeks, not years: Hawkin shares how he fast-tracked his home-buying journey and beat the rising rates to secure a townhouse in a competitive market with a 2-1 buydown. Follow along with an actual home buyer and learn how they did it with the following topics:
- Hawkin's journey from finding the podcast to connecting with a realtor
- Discussing breaking a lease and the flexibility of landlords
- Realtor's advice to buy sooner and the benefits of low competition
- Hawkin's financial situation and receiving a gift for a down payment
- The home shopping process and finding the right property
- Understanding the 2-1 buydown and its impact on interest rates
- Rent vs. mortgage payments and house hacking
- The fast-paced negotiation and inspection process
- Importance of a lender connected to your realtor
- Time commitment and preparation for the home-buying process
Connect with me to find a trusted realtor in your area or to answer your burning questions!
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This podcast was created for YOU - to cut through the confusion and empower you to buy your first home. Let's change how the real estate industry treats first-timers, one buyer at a time- starting with YOU!
Visit our Resource Center to "Ask David" AND get your FREE Home Buying Starter Kit!
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
Click on a timestamp to play from that location
| 0:00.0 | They told me that it honestly might be a better situation if I bought now instead of waiting until |
| 0:05.8 | the end of the lease. And I was like, oh, I didn't realize we'd be moving through this quickly. |
| 0:09.1 | I thought I was going to kind of go through the end of my lease and then start to look for a place. |
| 0:13.1 | But we got the process moving because rates were high at that point and honestly still are high, |
| 0:19.1 | there was very little competition. And that was kind of the |
| 0:21.5 | reason why we had a lot of free range and choice and flexibility on options and why I made more |
| 0:26.3 | sense for me to pull the trigger earlier than I anticipated. |
| 0:30.6 | Homies, I'm back. And it's time to drop another real life listener success story on you. |
| 0:37.0 | This is Hawken, a killer success story with some insights on how he beat the system by not letting the high mortgage interest rates freak him out. |
| 0:46.3 | In fact, he used it to his advantage. |
| 0:49.1 | Play that music. What is up, my homies? |
| 1:06.0 | We're going to get to Hawkins interview in just a second. |
| 1:08.2 | But for you loyal homies out there, I wanted to give you a |
| 1:11.3 | brief how to buy a home update. Yeah, there's been a bit of a gap between my last episode that was |
| 1:15.8 | posted. So here's what's been going on. I have actually been traveling the country a little bit |
| 1:20.7 | talking to first-time home buyers live and in person instead of just in their ear holes. |
| 1:25.3 | It's kind of funny because many of them who I met live and in person, they listened to me at |
| 1:29.0 | one and a half or two times speed. |
| 1:30.5 | They were super confused to hear me live and in person because they thought I was going to sound |
| 1:34.7 | like a chipmunk. |
| 1:35.3 | Talking really fast and talk like this because that's the way to listen to me every single time. |
| 1:37.7 | It was really awesome meeting all of the homies, Texas, Utah, and it was in Utah where I actually got to meet Hawkin live |
... |
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