287 - The "Secret" Downpayment Assistance Program
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 25 November 2024
⏱️ 32 minutes
🧾️ Download transcript
Summary
Think homeownership is out of reach because you're drowning in rent and can't fathom a down payment? Think again! In this special holiday-themed episode, David Sidoni dives deep into the shocking stats on first-time homebuyers and delivers a hilarious and heartfelt pep talk, plus actionable strategies to make your homeownership dreams a reality – even if you think you've got no chance. From begging your family for help (with actual scripts!) to uncovering hidden down payment assistance programs, David's got you covered.
Quote:
"Don't believe the fearful headlines. You can do this." - David Sidoni
Highlights:
- Could you actually buy a home with less than 20% down? (Hint: David reveals the real average down payment for first-time homebuyers.)
- What if your family could help you buy a home without actually giving you any money? (David shares a clever "financial hack" from a past guest.)
- Is it possible to turn your biggest monthly expense (rent) into an appreciating asset? (David breaks down how to make this happen.)
- Could asking your family for help this holiday season be the key to unlocking your homeownership dreams? (David provides you with the exact scripts to use!)
- What if there are hidden down payment assistance programs you don't even know about? (David explores exciting new options.)
- Is it possible to buy a home even if you have no family support? (David shares inspiring stories of those who did it solo.)
Referenced Episodes:
- Episode 19-24
- Episode 58
- Episode 78
- Episode 113
- Episode 119
- Episode 129
- Episode 198
- Episode 216
- Episode 224
- Episode 239
- Episode 249
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!
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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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| 0:00.6 | Welcome to the show, homies. |
| 0:02.1 | Well, the data is in for 2024 for first-time home buyers, and I'm not going to sugarcoat it. |
| 0:07.1 | The data sucks. |
| 0:08.7 | But every year as we head into the holidays, I drop an episode to help first-time homebuyers find ways to beat the system known how difficult it is. |
| 0:16.4 | So let me drop some of the data for you. |
| 0:18.8 | And then I'll get you some of the cool new ways to help you achieve the dream of home ownership, |
| 0:24.5 | even in this tough market. |
| 0:26.0 | Let's go. |
| 0:43.8 | Greetings. Greetings, homies, as in Seasons greetings. I'm David Sidoni, and this is the How to Buy a Home podcast annual down payment assistance episode. |
| 0:49.5 | You know, over the years, a lot of you've told me that you binge this show while you're driving, commuting, |
| 0:54.4 | or traveling for the Thanksgiving break. So let me give you an early Christmas Hanukkah |
| 0:58.9 | Kwanza gift from me to you, since you may need some presents early this year so you can deal with |
| 1:04.8 | your family in a post-election Thanksgiving mental health cornucopia of tension. I just got back |
| 1:10.5 | from a real estate convention |
| 1:11.6 | where one of the points of emphasis was the plight of the first-time home buyer. Now, and the |
| 1:16.7 | speakers were some of the brightest economic analytical minds in the country. And even they were |
| 1:20.8 | shocked at the new data regarding first-time home buyers. 2024 is in. And first-time homebuyers, |
| 1:26.3 | their numbers dropped huge. Now, last year, first-time homebuyers, their numbers dropped huge. |
| 1:28.8 | Last year, first-time home buyers were 32% of all the home sales transactions. |
| 1:33.7 | But in 2024, that number plummeted at 24%. |
| 1:38.2 | The lowest number that NAR has ever seen, the National Association of Realtors since they began collecting this data |
| 1:46.1 | up all the way back to 1981. |
... |
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