Since you guys aren't tied down to a job, I'd highly think about moving even out of state, to a cheaper area. My wife and I are in our second house and we had two kids before we moved into our first house. We worked our butts off to get the first house but realized we were paying to someone else to raise our kids because we had to work so much. We sold our first house and moved to a cheaper part of the state, and now our mortgage is cheaper than our daycare was before. I hope the best for you guys!
@@geisr8341 it also depends on politics. We moved to a more politically similar area, but we are pretty close to leaving Washington if things change much more.
This video looks like is the last video Brad and Lex ever did because it has been six months without uploading another video to TH-cam. What a shame. This is one of my alltime favorite channels and they have done over 3,200 videos. I hope they come back.
Stay in your home! Interest rates are too high and would cost you big money. Wait until you have a good interest rate. Do not rent! You own the place you are in. Make the mobile home work. My opinion, is that this is a bad market to by a house.
So, are you living in a trailer or a pre-fab modular mobile home? Huge difference. Even though, in Florida they are considered equal, they are not. Prefab modular homes, depending on when they were built, are much safer in hurricanes that "trailers", but they are more expensive to maintain because they are pretty much like a regular home...except they are certainly more prone to hurricane damage. Its all about risk. In Atlantic Florida, near Vero Beach, you can buy a very nice prefab modulare mobile home, with apprx. 1300 sq. feet of living space for $40,00 - $50,00 with hurricane insurance for $1800 a year if you do your due your due dilgience. Now, you do need to know that most pre-fab modular home parks do charge a monthy "land rent fee" which can be $500-900 per month in addition to a mortgage. Our total montly costs are about $1200 for a 1400 sq. feet, 3 bedroom /2 bath home..that's a whole lot less than the normal $1800 for a 1 bedroom/ 1 bath apartment...but the hurricane risks are lower in the apartment for complete destruction than a home. As long as you can get full coverage for replacement costs of all personal belongings like furniture, appliances, electronics, etc. ITS ALL ABOUT RISK. I wish you guys well in your decision as I find both of you really down-to-earth folks and I really like that.
I'm a 52yr old Misfits/Samhain/Danzig fan & I LOVED the way you both reacted to the soundtrack of my formative years. I wish nothing but health, wealth & more power to you all. Peace, love & 100% respect from Belfast, Ireland. 💚
I can tell you that I'm an Escrow Officer in CA and everyone in this business speculates but nobody can say for sure what will happen or when. The time to buy is when you can afford it. When you have the down pymnt needed & when you're sure you can deal with the mtg pymnt, taxes, insurance, and a lot more utility costs in a home vs apartment. Your particular average is a dream compared to where I live. I don't know how young couples are doing it right now. Best of luck ❣
each of you has a real wisdom and it’s hard to describe… brad has a kind of calm, practical wisdom and he’ll drop pragmatic gems and lex has an intuitive, gut-level wisdom and an infectious spirit. there’s a good balance with you two, it’s great to see two good people with such open minds. i hope you guys find a path that leads you to security and happiness for your son
My husband and I have been in real estate for decades. And I'm telling you that between the interest rates in the high prices of housing right now you need to wait a year or two. Wait for the interest rates to come down and wait for all those foreclosures to start hitting the market and bringing the housing down.. I know this will be your first home purchase and I would hate for you guys to get in at the top of the market and drown in it.
I can't believe we're up to 8%+ on a 30yr mortgage right now! Yes, waiting a year might be their best strategy, that and the fact that it's still a seller's market due to low inventory.
you are 100% right about waiting it out for a couple years - the inflated prices from the last few years could leave you drowning in debt and negative equity
Rates aren't going to come down that much. What the rates of been isn't likely to ever happen again. Even the current rates are cheaper than what they usually are if you look at history.
Buy small and upgrade later as the market fluctuates , that's my advice for what it's worth. Moving out of florida to somewhere like rural Oklahoma looks like a better move, buy a plot of land and put your own trailer home on it until you can build your own house. Plus the adventure would be content worthy material for TH-cam videos. I built my own house and own my own home outright mortgage free, I literally bought building materials and the end of every month out of what I earned that month. Hard work pays off.
I've been hearing prices of home insurance in Florida have more than doubled due to insurance companies leaving the state due to so many hurricanes claims. If you decide to buy a house in Florida, check and see what both property tax and insurance would be for that specific home at the time you would be buying it. (Don't go by what the previous owner was paying. In most cases, you would be paying more). Good luck with whatever you decide to do. Some neighborhoods have homeowners association fees.
I'm so disappointed that you guys are not on anymore!!!!! I've been watching your music reactions and I love them so much I miss you 😘 I hope you 3 are doing well. Love peace and happiness to you all mama and brother too
I truly wish you two the best on house-hunting!! I also recently saw the “trolling and haters” video, and I hate that TH-cam or any social media has that aspect. Please don’t let them win and hurt you. You two are great and so much fun!! My advice: There are trolls under every bridge. Cross it dancing!!
@@glassontherocks , and where did you move? Pointless trolling. Sure, turn this into some stupid political bullshit. You are the troll, tell Q and the rest of the cult to f off.
My 2 cents, living in Pinellas Park, is to buy a lot < which may drop in price later, although not as much as a house> and rent until house prices come down and you can custom build. Lex is right about buyiing and refinancing. If the value of the house goes down, no way you'll get to refinance.
@@HurshRoadthey will fall fast in most markets in the first half of 24. Interest rates have not peaked yet, unemployment rate is increasing as companies layoff employees, more importantly the US credit card debt is at an all time high with an average of 10k debt. Student loan payments start again in a couple months too. Wait out the market and save money for a larger down payment!
Some advice think about the stairs. As a senior I can tell you that I never thought about it when we bought the house. The steps going down to the basement are so narrow we cannot install a stairlift system there. And the stairs that lead from my driveway to the front porch are 17 steps high and a real pain to climb in my senior years. So keep steps to a minimum because they will matter in the years ahead.
Yes. I watch a guy who built his own small cabin on a piece of property he has. He built a loft and had his bedroom up there. Nowadays he sleeps down in the main floor because climbing up and down the loft ladder is getting difficult now.
Excellent conversation, one of your best videos ever. I agree with several of your other comments that I would look at moving to a more rural area. We live in southeast Tennessee and the costs are like 1/3 of what you are seeing.
Wishing you all the best in life. I genuinely love seeing good people come up. Much love from Georgia. P.S. I'm gonna have to hold that love when the Dawgs play the Gators. 😂😂😂
Move to Abington, Pa. you would love it here! Just an hour and a half drive to the Pocono mountains or an hour and a half to the beach, great state parks, all four seasons, great people, plenty of stores and shops within just a few miles, AND the Eagles and the Phils! Think about it!
Also you guys have brought so much joy to my family doing your reactions !😊 I hope your mom is well Lex and the whole family is healthy brad included ❤️
Take it from an OG person (63 years here), interest rates WILL go down. I remember back in the early 80s when they were up and some people had balloon notes up to 16% interest. Home prices may, or may not... people may be getting into homes that they cannot afford which are then repossessed by the bank and sometimes you can get deals that way. If you can, maybe plan to stay where you are for just a bit, sock your money away for your down payment and just wait it out. Also, we live in Texas which is maybe a bit cheaper as far as home prices go (always has been in the past but home prices have gone up) and moving to another state could be an option if it is something you can do. Best of luck kids!
Location, location, location is the most important thing. Even the worst house in the best neighbourhood is better than the best house in a bad neighbourhood.
If you do ever buy a house, put into your contract, no balloon payments ever. My wife and I are about to pay our house off, its been nice, but we'd prefer to rent. However we're in our 50s. Being young like ya'll, might be a good thing.🙏💛
Buying a house with your newborn is the next logical step. However take your time. Interest rates might go a bit higher but won’t be low like they were for anytime soon. However home prices may come down as the economy slows. As far as the 30 yr or 15 yr mortgage goes you can pay a lot less over time by making two half payments each month instead of one monthly mortgage payment. In other words if you had a $2500 monthly house payment if you paid $1,250 every two weeks you would save thousands and thousands of dollars over the life of the mortgage. Same principle works with credit card bills. Home prices will go down first. Interest rates will go lower but slowly (unless a market/economy crash).
Hey guys, A couple of thing to consider: 1) you can refinance, if interest rates drop; 2) consider duplexes and have the other half rented out, 3) not sure if you can move anywhere, but do consider anywhere in U.S. , 4} be sure the schools are good (helps if you want to sell in the future), 5} I recommend staying with a fixed rate in this market. All the best!
Could take years for rates to drop refinances is a terrible take on top of the absurd interest rates. I am 2.875%. With elite credit today i would be well over 6%. Would spend tens of thousands more than i need to in interest.
Don't restrict yourself to the current location. If you can relocate and still work and earn what you earn now doing the same thing, your dollar will get you more. And it's early, so you can find a place where you can make friends, and where the schools are good, and Jack will have friends to grow up with .
Greetings from a fellow Missourian. Enjoy your content. I came for the reactions and stayed for the life adventure. You probably don't realize it but you absolutely nailed the current US financial/ housing situation AND you are on point with your research and mathematical analysis for what you are thinking about doing. I also think that the 40% ownership claim from 2019 is suspect. Keep in mind when you do purchase a home there will be repairs. Foundation and roof will be the most expensive. The shingles are like tires on your truck. They always wear out. My suggestion, if you plan to stay in FL, would be to stick with the trailer while looking for an affordable rental and save your cash. BTW, even though you may be able to afford a higher payment, don't bite off more than you feel comfortable with considering the unknowns of the future. When the real estate correction comes, it will be coastal states and metropolitan areas around the country first. With some cash in your pocket and renting, you won't be tied down and can make a thoughtful purchase. Wishing you all the best whatever you decide.
Keep making better choices! :-) Trust me. My husband and I are well older than you. We are both from Clearwater, Fl, btw! I think having a house is wonderful but make sure that you have at least 20% down and make sure ALL of your bills are paid off. ALL OF THEM. So, if you have to get out of your current place, make sure you purchase a rental in a good safe area that will fit your budget and allow you have have enough money left over to save. :-). God Bless You guys and You two would IMPROVE a neighborhood because you're good people!
Don't do it! As a former Mortgage Broker and lifelong financial professional, I would personally recommend not buying anything now...real estate is not the great investment most people think. Things are very highly of inflated right now - and the rate environment is godawful! You both sound pretty "financially literate" - so I'm only going to echo what you probably already know/understand.
I bought a house in 2021 and it was crazy with "cash" offers flying in at the last minute offering $25,000+ over asking price. Come to find out, on top of already owning over 80% of the S&P 500, Blackrock, Vanguard, and State Street are now buying up all the single family homes in the US. On the pace they are currently going, they will own 60% of all the single family homes by 2030. It is crazy how they are permitted to control this amount of our economy!!!
I think the reality is that with a child you're going to need something bigger. Once he's crawling/walking it's going to get pretty rough in a confined space. I'd suggest looking at other areas to see your options for buying because if you rent and say the interest rate goes down, you're not guaranteed that your rent will go back down...people who rent out houses never put the rent down no matter what! I wish you guys all the best, just take your time looking and don't rush into anything. It took us 3 years to find the house we're in now and we only got that because it was a bank foreclosure, so we got it for $100grand cheaper than it would normally have been.
It’s likely home prices will start to come down soon, because the market has slowed down a lot due to the rate hikes. You also have Airbnb struggling, so a lot of those homes may start hitting the market making it more of a buyers market. Look for rates to start coming down in 2025, but that will likely lead to a flood of buyers. if you find a house at a good price you can always refinance when rates go down. My first house was at a 7.3% but rates went down after 9/11 and I refinanced about a year in to the 3s or low 4s. I can’t remember my exact rate, but they had so many specials at that time I barely even paid any refinance fees. The ever increasing insurance rates in FL may be something to consider though, as it may make owning less financially sound.
Illegal aliens cause high housing prices. ECON 101. Where supply meets demand we find price. Increase demand with the same supply, the new price point is higher. 13,000,000 illegal aliens are living somewhere, which puts upwards pricing pressure on housing.
I've lived in Fort Myers Florida & Gainesville Florida (love the homes here) my whole life. I have prayed for you to have a home for a long time now. It's the largest investment you'll ever make - I know you'll make the right choice.
Your desire buying a new house, especially since you're parents now, is totally understandable With your child growing up as fast as he is, you guys definitely need a bigger place
In my opinion, moving out of Florida is the best move you can make. I lived in Florida (Cocoa Beach area) for over ten years and when I moved to a different state, my quality of life increased 10-fold. Not only am I happier, but I am way more financially stable. All it takes is making the decision. Happier and more stable days are ahead. The financial numbers you guys discussed in this video are terrifying. I am so grateful that I made the decision to get the heck out of dodge.
@@brianne1547 In my opinion, I did mention the state in discussion. The whole point of my comment was to show that you can do a lot better than Florida when it comes to cost of living. It doesn't matter which state as long as you are better off.
And this is a awesome conversation you're putting out there for others to consider as well and you're putting a lot of facts in it which makes it better.
If you want to move into a bigger place, look for a rental home. It is much more expensive to buy a home than to rent the same home right now. If you listen to realtors, don’t believe their two biggest lies: Homes never fall in value or Date the rate, marry the home. Best seasonal time to buy is around the holidays but you’d be much better off waiting at least 18 months for two reasons. The market is going to correct even if it doesn’t crash. Next year the Fed will start to lower the lending rate and mortgage rates will settle in the 5 to 6% range, probably a year from now. Homes are more unaffordable than anytime in history, much higher than the 2008 peak. Please wait. Remember if I’m right as housing values fall at all, you won’t be able to refinance out of that high rate mortgage.
I understand your situation. I live in a 2BR/2BA manufactured home in Orlando area. My lot rent and loan payment together come to $1,100 per month and lot rent goes up each year. It has it’s pros as it is gated and I like the area. However plenty of negatives too, cheap materials, I need to evacuate during hurricanes, I’ve done lots of repairs and replacements. Considering a 1BR/1BA apt where I live is around $1,650 per month I am staying put where I am for the time being. Florida has gotten super expensive and has highest homeowners insurance in country. Plus if you move into a house you will have property tax and HOA fees. Plus repairs are expensive. If you can move away from Florida that might be a good option as you can get a cheaper home elsewhere. Good luck.
Like others have said, buy land and build later. Buying an existing home will leave you financially upside down if the market crashes. There are people in my extended family building their homes now. Yes it is a long process, but at least you won’t come out on the losing end.
You guys definitely need to get a house if you can afford one. Home ownership is the best way to become financially stable and it gives you a stable home life as well. I was career military and I never owned a home until I retired since I was moving every 3-4 years. I bought my home for a great price just 6 years ago, I've made improvements to it, and now it's worth almost double what I paid.
PAUSE 0:03 My daughter (24) and her husband (25) are also looking to buy their first house and have our first grand baby due in March. I told them to pump their brakes and BE PATIENT. The market is on the verge of a big shift. The bubble is really close to popping. The best strategy right now is to just get yourself ready for when it does pop. Right now is NOT a buyer’s market. Popping bubbles equal leverage and leverage equals more options and choices. Okayyyyyyy hitting play 😂
Side note/ example. Advice first. Seriously stack as much cash as you possibly can. And be patient on that trigger. We got LUCKY in 2020. Built our first house in Lebanon Tennessee just east of Nashville for 465k at a 4.75 rate. Refinanced a year later and locked in at 2.50%. They’re now building houses in a new subdivision next to the one I’m in. About 1000 square feet less than my neighborhood on average. Large backyards but really close together. Ours are all custom brick and rock houses. The new ones are brick front and vinyl sides. Those new ones are now being built for almost what we paid PLUS between 7%-8% rates. Those percentages are what folks inadvertently shoot them selves in the foot with.
Side note to my side note 😂. If you work it right. Like I said we got lucky and had perfect timing. We did our refinance in 2021. Grabbed a loan instead of touching the equity in the house, and we installed 38 x 18 in-ground pool. Our payment on the house and the pool combined are less than a LOT of folk’s houses bought recently.
3rd side note 😂😂😂. A little extra advice. Get something CHEAPER than you can afford and that can even be a new construction. The more you have leftover each month opens a LOT of doors down the road. Things like family trips and emergencies are a lot easier to handle.
In my experience, owning a house is less stressful than renting. Simply because you don't have to deal with as many "what-ifs". You won't ever be evicted, you don't have to deal with landlords or rules, you control what changes or is modified about your property, and banks tend to be fairly flexible even if you need to miss a monthly payment. My advice: shop around mortgage lenders. I dealt with 4 separate lenders and had 4 completely different experiences. One was able to get me a very good rate, but the customer service was great too. The first lender I reached out to was pretty terrible on both of those fronts, so I'm so happy I didn't settle for the first pick. Do unexpected things happen (like roof damage, flooding, electrical issues, and so forth)? Yes. Are they manageable? Yes! And, sometimes you will still come out on top compared to what it would have cost you in rent. Why? Because of escrow. Banks will love you the moment you start paying down that mortgage, and when terrible things happen, you can dip into that escrow to help coast through. That's not something available to you if you have rent payments. And best of all, the longer you pay down your mortgage and avoid the unexpected, the more it benefits you in the end. It becomes something you can potentially give back to your children once it's paid down.
Best of luck, the housing has gone crazy in FL since the pandemic. I got a condo on Clearwater Beach in 2016 for mid 300s. They are now selling for $679k. Its insane how prices have gone up very quickly.
I stopped in Clearwater once. Gorgeous place. Housing is crazy everywhere. My first house was tiny and came with 15% interest in the early '80s and then I refinanced once or twice. Today I'd look for an elderly landlord who would let you rent to own under a legit contract. They'd be fond of you guys and Jack the Giant. Also, there may still be gummint help for first time home buyers. It saved me money back then.
I agree with a lot of the comments about not being tied to Florida. If that's the case, you can 100% find the perfect set up for the perfect price. We moved from Philly to a very rural part of Arizona. It has only 2000 people in our town, and we live two miles out of town. We were able to get a 5 bedroom on 2 acres that backs up to 10k acres of protected land for 150k. It's now already valued at 100k more than we bought it for. It's a little bit of a change living more rural but it is worth it.
Do not count on interest rates going down, rather up. That way, any future surprise will be positive. And the right time for a nice garden is when the kids are young.
You definitely have to research and shop around. A mobile home can be good if you're in an area that's less hurricane prone such clay county, Fl. You could find a place with an acre. If you have more acreage, you could get a few cows or goats, then claim it as a farm on your taxes.
_thank you_ for looking up the amortization and going into the all-in over-time costs! So many people somehow don't see this. The financing of the loan is almost always the biggest factor. "What if interest rates don't go down" (Brad) is a very solid/safe thought to have.... it's almost definitely not going to be the case, but it's best not to plan thinking about "well things must get better". Best of luck guys!
Buy the house you want/can afford. Don’t be afraid of another 10k. It usually only translates to another $5 a month. I got a single car garage because we were intimidated by an additional 10k cost. In the grand scheme it would have been nothing.
It is a good thing you guys are even discussing this. I am a renter, and can't give the best advise. But I know there are programs out there and financial advisors who can help you reach the best decisions. Look into what you qualify for, or even house building programs.
![ประสบการณ์ จ้าง Developer ที่ผมจะไม่มีวันลืม [ภาค1]](http://i.ytimg.com/vi/bzivN4KDg-k/mqdefault.jpg)
Since you guys aren't tied down to a job, I'd highly think about moving even out of state, to a cheaper area. My wife and I are in our second house and we had two kids before we moved into our first house. We worked our butts off to get the first house but realized we were paying to someone else to raise our kids because we had to work so much. We sold our first house and moved to a cheaper part of the state, and now our mortgage is cheaper than our daycare was before. I hope the best for you guys!
I totally agree with this. You can get a lot more for your money in other places.
Absolutely. Brad and Lexi, why are you guys still in FLA?! Move to Ohio or Michigan. Indiana..? You can buy a sweet ass home for 120-140k.
@@geisr8341 it also depends on politics. We moved to a more politically similar area, but we are pretty close to leaving Washington if things change much more.
I want to buy another house and more land yet NOW is NOT the best time for most. Waiting for housing market to soon crash. Pray,study and patience.
Could just go down to GA, practically right up the road
This video looks like is the last video Brad and Lex ever did because it has been six months without uploading another video to TH-cam. What a shame. This is one of my alltime favorite channels and they have done over 3,200 videos. I hope they come back.
I'm on a third yt account myself and I still come back for the classics, nl! ;-)
Turns out they've been posting this entire time on a new channel bead after dark !!!
@@nevetstrevel4711 But, they are not posting anymore reaction videos.
I miss her sexy azz
@@nevetstrevel4711Brad after dark
Good Luck, take your time. The right house will pop up when lesst expected.
Take your time. Dont rush it. And if you have any doubts don't be afraid to back out and keep looking.
Stay in your home! Interest rates are too high and would cost you big money. Wait until you have a good interest rate. Do not rent! You own the place you are in. Make the mobile home work. My opinion, is that this is a bad market to by a house.
@@rockford2523
So, are you living in a trailer or a pre-fab modular mobile home? Huge difference. Even though, in Florida they are considered equal, they are not. Prefab modular homes, depending on when they were built, are much safer in hurricanes that "trailers", but they are more expensive to maintain because they are pretty much like a regular home...except they are certainly more prone to hurricane damage. Its all about risk. In Atlantic Florida, near Vero Beach, you can buy a very nice prefab modulare mobile home, with apprx. 1300 sq. feet of living space for $40,00 - $50,00 with hurricane insurance for $1800 a year if you do your due your due dilgience. Now, you do need to know that most pre-fab modular home parks do charge a monthy "land rent fee" which can be $500-900 per month in addition to a mortgage. Our total montly costs are about $1200 for a 1400 sq. feet, 3 bedroom /2 bath home..that's a whole lot less than the normal $1800 for a 1 bedroom/ 1 bath apartment...but the hurricane risks are lower in the apartment for complete destruction than a home. As long as you can get full coverage for replacement costs of all personal belongings like furniture, appliances, electronics, etc. ITS ALL ABOUT RISK. I wish you guys well in your decision as I find both of you really down-to-earth folks and I really like that.
Rooting for you guys 🇺🇸
I hope Brad and Lex are doing well. I miss them and their videos.
ditto
me too., where's the new channel? i pray.....even though... these guys deserve a chance
@@philipocallaghan Brad after Dark. Lex is busy being a mother and Brad streams his reactions!
@@HuddyTech She was the best part.
Neighborhood is everything when you have a child. ❤❤❤
I'm a 52yr old Misfits/Samhain/Danzig fan & I LOVED the way you both reacted to the soundtrack of my formative years.
I wish nothing but health, wealth & more power to you all.
Peace, love & 100% respect from Belfast, Ireland. 💚
I think the area has a lot to do with the pricing. Don't limit yourself to the Clearwater / Tampa area.
Gosh, what a beautiful part of Florida that you live in, though. I agree with the lady about Floeida houses being uggo.
@@Gurl-5150 Homeowners insurance, HOA and backdoor taxes are horrible in Florida.
I can tell you that I'm an Escrow Officer in CA and everyone in this business speculates but nobody can say for sure what will happen or when. The time to buy is when you can afford it. When you have the down pymnt needed & when you're sure you can deal with the mtg pymnt, taxes, insurance, and a lot more utility costs in a home vs apartment. Your particular average is a dream compared to where I live. I don't know how young couples are doing it right now. Best of luck ❣
It’s more work than you think it is and
more expensive than you imagine. If Brad is very handy it will be super helpful. Save money all the time. ❤
each of you has a real wisdom and it’s hard to describe… brad has a kind of calm, practical wisdom and he’ll drop pragmatic gems and lex has an intuitive, gut-level wisdom and an infectious spirit. there’s a good balance with you two, it’s great to see two good people with such open minds. i hope you guys find a path that leads you to security and happiness for your son
My husband and I have been in real estate for decades. And I'm telling you that between the interest rates in the high prices of housing right now you need to wait a year or two. Wait for the interest rates to come down and wait for all those foreclosures to start hitting the market and bringing the housing down..
I know this will be your first home purchase and I would hate for you guys to get in at the top of the market and drown in it.
I can't believe we're up to 8%+ on a 30yr mortgage right now! Yes, waiting a year might be their best strategy, that and the fact that it's still a seller's market due to low inventory.
Yeah thats a good heads up.
you are 100% right about waiting it out for a couple years - the inflated prices from the last few years could leave you drowning in debt and negative equity
Rates aren't going to come down that much. What the rates of been isn't likely to ever happen again. Even the current rates are cheaper than what they usually are if you look at history.
Not coming down....
Buy small and upgrade later as the market fluctuates , that's my advice for what it's worth. Moving out of florida to somewhere like rural Oklahoma looks like a better move, buy a plot of land and put your own trailer home on it until you can build your own house. Plus the adventure would be content worthy material for TH-cam videos. I built my own house and own my own home outright mortgage free, I literally bought building materials and the end of every month out of what I earned that month. Hard work pays off.
i think you should wait two years and save but thats up to you. If you want your kid to be rich, you need to make smart decisions.
I've been hearing prices of home insurance in Florida have more than doubled due to insurance companies leaving the state due to so many hurricanes claims. If you decide to buy a house in Florida, check and see what both property tax and insurance would be for that specific home at the time you would be buying it. (Don't go by what the previous owner was paying. In most cases, you would be paying more). Good luck with whatever you decide to do. Some neighborhoods have homeowners association fees.
Also, compare mud district tax rates, too.
I miss you guys. .... Hope you're doing well.
I'm so disappointed that you guys are not on anymore!!!!! I've been watching your music reactions and I love them so much I miss you 😘 I hope you 3 are doing well. Love peace and happiness to you all mama and brother too
I truly wish you two the best on house-hunting!! I also recently saw the “trolling and haters” video, and I hate that TH-cam or any social media has that aspect. Please don’t let them win and hurt you. You two are great and so much fun!! My advice: There are trolls under every bridge. Cross it dancing!!
The Trolls moved out when the Democrats started living under the bridges.
@@glassontherocks , and where did you move? Pointless trolling. Sure, turn this into some stupid political bullshit. You are the troll, tell Q and the rest of the cult to f off.
@@glassontherocks what are you even on about? How many farts in the echo chamber did you huff to come up with that?
This woman is a joy to look at. So beautiful. Brad, your a lucky guy!
Unfortunately, you two will have to wait, sit tight and buy later. Great conversation. Best to you!
My 2 cents, living in Pinellas Park, is to buy a lot < which may drop in price later, although not as much as a house> and rent until house prices come down and you can custom build. Lex is right about buyiing and refinancing. If the value of the house goes down, no way you'll get to refinance.
That is what we are doing. We have been renting in Clermont for 2 years. Currently looking for a lot to build later. Good advice.
That is an Idea buy a piece of land and move their trailer home to it . At least the kids will have more room to play and they can build later on it .
@@cathylee4234 When I was growing up, my friend's parents bought a second trailer and fitted them together.
House prices aren’t coming down.
@@HurshRoadthey will fall fast in most markets in the first half of 24. Interest rates have not peaked yet, unemployment rate is increasing as companies layoff employees, more importantly the US credit card debt is at an all time high with an average of 10k debt. Student loan payments start again in a couple months too. Wait out the market and save money for a larger down payment!
Get a nicer, double wide trailer til things get more affordable. There are really nice prefab and modular homes too.
Some advice think about the stairs. As a senior I can tell you that I never thought about it when we bought the house. The steps going down to the basement are so narrow we cannot install a stairlift system there. And the stairs that lead from my driveway to the front porch are 17 steps high and a real pain to climb in my senior years. So keep steps to a minimum because they will matter in the years ahead.
Yes. I watch a guy who built his own small cabin on a piece of property he has. He built a loft and had his bedroom up there. Nowadays he sleeps down in the main floor because climbing up and down the loft ladder is getting difficult now.
Duplexes are awesome. You get your own yard and garage generally. And can find lots without HOA.
Excellent conversation, one of your best videos ever. I agree with several of your other comments that I would look at moving to a more rural area. We live in southeast Tennessee and the costs are like 1/3 of what you are seeing.
I hope they're ok, i really enjoyed their reactions
Wishing you all the best in life. I genuinely love seeing good people come up. Much love from Georgia.
P.S.
I'm gonna have to hold that love when the Dawgs play the Gators. 😂😂😂
Move to Abington, Pa. you would love it here! Just an hour and a half drive to the Pocono mountains or an hour and a half to the beach, great state parks, all four seasons, great people, plenty of stores and shops within just a few miles, AND the Eagles and the Phils! Think about it!
The weather would kill them. They like the sun:
@@janiceordal5505 There's plenty of sun here in Philly it's 95 today. Plus Brad is the Sun King Lex likes the cooler weather so it's a win win!
The right realtor will make all the difference 😊❤
They should tell us subscribers what is going. I miss Brad & Lex
@@AKCFTW if you check the community tab on this channel you'll know that is definitely not the case.
If you didn’t already know, insurance rates in Florida are crazy, check before you buy
Also you guys have brought so much joy to my family doing your reactions !😊 I hope your mom is well Lex and the whole family is healthy brad included ❤️
Take it from an OG person (63 years here), interest rates WILL go down. I remember back in the early 80s when they were up and some people had balloon notes up to 16% interest. Home prices may, or may not... people may be getting into homes that they cannot afford which are then repossessed by the bank and sometimes you can get deals that way. If you can, maybe plan to stay where you are for just a bit, sock your money away for your down payment and just wait it out. Also, we live in Texas which is maybe a bit cheaper as far as home prices go (always has been in the past but home prices have gone up) and moving to another state could be an option if it is something you can do. Best of luck kids!
Location, location, location is the most important thing. Even the worst house in the best neighbourhood is better than the best house in a bad neighbourhood.
That is so true.
Absolutely!! Always been my strategy and hasn't let me down!!
Miss you both and your music reactions.
No need to! “ brad after dark” on here + the community section over there
@@bobbyshaftowenttosea5410without Lex tho
@@bobbyshaftowenttosea5410 brother, you know that's not what he meant
Either way I wish you both nothing but the best
If you do ever buy a house, put into your contract, no balloon payments ever. My wife and I are about to pay our house off, its been nice, but we'd prefer to rent. However we're in our 50s. Being young like ya'll, might be a good thing.🙏💛
Buying a house with your newborn is the next logical step. However take your time. Interest rates might go a bit higher but won’t be low like they were for anytime soon. However home prices may come down as the economy slows. As far as the 30 yr or 15 yr mortgage goes you can pay a lot less over time by making two half payments each month instead of one monthly mortgage payment. In other words if you had a $2500 monthly house payment if you paid $1,250 every two weeks you would save thousands and thousands of dollars over the life of the mortgage. Same principle works with credit card bills. Home prices will go down first. Interest rates will go lower but slowly (unless a market/economy crash).
Hey guys, A couple of thing to consider: 1) you can refinance, if interest rates drop; 2) consider duplexes and have the other half rented out, 3) not sure if you can move anywhere, but do consider anywhere in U.S. , 4} be sure the schools are good (helps if you want to sell in the future), 5} I recommend staying with a fixed rate in this market. All the best!
Could take years for rates to drop refinances is a terrible take on top of the absurd interest rates. I am 2.875%. With elite credit today i would be well over 6%. Would spend tens of thousands more than i need to in interest.
Don't restrict yourself to the current location. If you can relocate and still work and earn what you earn now doing the same thing, your dollar will get you more. And it's early, so you can find a place where you can make friends, and where the schools are good, and Jack will have friends to grow up with .
I miss you guys! I hope all is well
House cleaning Brad & Lex home cleaning. Also, window washing, is fast and easy money. Can show you how to start your business.
Greetings from a fellow Missourian. Enjoy your content. I came for the reactions and stayed for the life adventure. You probably don't realize it but you absolutely nailed the current US financial/ housing situation AND you are on point with your research and mathematical analysis for what you are thinking about doing. I also think that the 40% ownership claim from 2019 is suspect. Keep in mind when you do purchase a home there will be repairs. Foundation and roof will be the most expensive. The shingles are like tires on your truck. They always wear out. My suggestion, if you plan to stay in FL, would be to stick with the trailer while looking for an affordable rental and save your cash. BTW, even though you may be able to afford a higher payment, don't bite off more than you feel comfortable with considering the unknowns of the future. When the real estate correction comes, it will be coastal states and metropolitan areas around the country first. With some cash in your pocket and renting, you won't be tied down and can make a thoughtful purchase. Wishing you all the best whatever you decide.
You guys rocked it 😊😊
May God continue to bless yall..
Keep making better choices! :-) Trust me. My husband and I are well older than you. We are both from Clearwater, Fl, btw! I think having a house is wonderful but make sure that you have at least 20% down and make sure ALL of your bills are paid off. ALL OF THEM. So, if you have to get out of your current place, make sure you purchase a rental in a good safe area that will fit your budget and allow you have have enough money left over to save. :-). God Bless You guys and You two would IMPROVE a neighborhood because you're good people!
I'm glad you're back on track with the videos, guys!
Don't do it!
As a former Mortgage Broker and lifelong financial professional, I would personally recommend not buying anything now...real estate is not the great investment most people think.
Things are very highly of inflated right now - and the rate environment is godawful!
You both sound pretty "financially literate" - so I'm only going to echo what you probably already know/understand.
Pray about it first... all will be good.
I bought a house in 2021 and it was crazy with "cash" offers flying in at the last minute offering $25,000+ over asking price. Come to find out, on top of already owning over 80% of the S&P 500, Blackrock, Vanguard, and State Street are now buying up all the single family homes in the US. On the pace they are currently going, they will own 60% of all the single family homes by 2030. It is crazy how they are permitted to control this amount of our economy!!!
Evil.
You did great Brad. This Lex looks like a keeper to me. Hang in there you two.
Definitely wait until interest rates and prices come down
Jack is adorable! Go for it if you're ready!!!😊
I think the reality is that with a child you're going to need something bigger. Once he's crawling/walking it's going to get pretty rough in a confined space. I'd suggest looking at other areas to see your options for buying because if you rent and say the interest rate goes down, you're not guaranteed that your rent will go back down...people who rent out houses never put the rent down no matter what! I wish you guys all the best, just take your time looking and don't rush into anything. It took us 3 years to find the house we're in now and we only got that because it was a bank foreclosure, so we got it for $100grand cheaper than it would normally have been.
Yes!! You deserve it!!! Praying for you to find a beautiful house for your precious family 🙏🏼 God bless your little family 🙏🏼♥️🙏🏼
It’s likely home prices will start to come down soon, because the market has slowed down a lot due to the rate hikes. You also have Airbnb struggling, so a lot of those homes may start hitting the market making it more of a buyers market.
Look for rates to start coming down in 2025, but that will likely lead to a flood of buyers. if you find a house at a good price you can always refinance when rates go down. My first house was at a 7.3% but rates went down after 9/11 and I refinanced about a year in to the 3s or low 4s. I can’t remember my exact rate, but they had so many specials at that time I barely even paid any refinance fees. The ever increasing insurance rates in FL may be something to consider though, as it may make owning less financially sound.
Illegal aliens cause high housing prices.
ECON 101.
Where supply meets demand we find price. Increase demand with the same supply, the new price point is higher.
13,000,000 illegal aliens are living somewhere, which puts upwards pricing pressure on housing.
I've lived in Fort Myers Florida & Gainesville Florida (love the homes here) my whole life. I have prayed for you to have a home for a long time now. It's the largest investment you'll ever make - I know you'll make the right choice.
Your desire buying a new house, especially since you're parents now, is totally understandable
With your child growing up as fast as he is, you guys definitely need a bigger place
Live where you can afford to. And always try your best before asking for assistance from others. Love you guys
In my opinion, moving out of Florida is the best move you can make. I lived in Florida (Cocoa Beach area) for over ten years and when I moved to a different state, my quality of life increased 10-fold. Not only am I happier, but I am way more financially stable. All it takes is making the decision. Happier and more stable days are ahead. The financial numbers you guys discussed in this video are terrifying. I am so grateful that I made the decision to get the heck out of dodge.
not going to mention the state?
@@brianne1547 In my opinion, I did mention the state in discussion. The whole point of my comment was to show that you can do a lot better than Florida when it comes to cost of living. It doesn't matter which state as long as you are better off.
And this is a awesome conversation you're putting out there for others to consider as well and you're putting a lot of facts in it which makes it better.
If you want to move into a bigger place, look for a rental home. It is much more expensive to buy a home than to rent the same home right now.
If you listen to realtors, don’t believe their two biggest lies: Homes never fall in value or Date the rate, marry the home. Best seasonal time to buy is around the holidays but you’d be much better off waiting at least 18 months for two reasons. The market is going to correct even if it doesn’t crash. Next year the Fed will start to lower the lending rate and mortgage rates will settle in the 5 to 6% range, probably a year from now. Homes are more unaffordable than anytime in history, much higher than the 2008 peak. Please wait. Remember if I’m right as housing values fall at all, you won’t be able to refinance out of that high rate mortgage.
I understand your situation. I live in a 2BR/2BA manufactured home in Orlando area. My lot rent and loan payment together come to $1,100 per month and lot rent goes up each year. It has it’s pros as it is gated and I like the area. However plenty of negatives too, cheap materials, I need to evacuate during hurricanes, I’ve done lots of repairs and replacements. Considering a 1BR/1BA apt where I live is around $1,650 per month I am staying put where I am for the time being. Florida has gotten super expensive and has highest homeowners insurance in country. Plus if you move into a house you will have property tax and HOA fees. Plus repairs are expensive. If you can move away from Florida that might be a good option as you can get a cheaper home elsewhere. Good luck.
Like others have said, buy land and build later. Buying an existing home will leave you financially upside down if the market crashes. There are people in my extended family building their homes now. Yes it is a long process, but at least you won’t come out on the losing end.
You guys definitely need to get a house if you can afford one. Home ownership is the best way to become financially stable and it gives you a stable home life as well. I was career military and I never owned a home until I retired since I was moving every 3-4 years. I bought my home for a great price just 6 years ago, I've made improvements to it, and now it's worth almost double what I paid.
my advice is to keep your trailer stack your cash and retire in another country because there`s way too much greed in this country.......
Whatever you choose know that only good can come from it. All the best guys.
PAUSE 0:03 My daughter (24) and her husband (25) are also looking to buy their first house and have our first grand baby due in March.
I told them to pump their brakes and BE PATIENT. The market is on the verge of a big shift. The bubble is really close to popping.
The best strategy right now is to just get yourself ready for when it does pop. Right now is NOT a buyer’s market. Popping bubbles equal leverage and leverage equals more options and choices.
Okayyyyyyy hitting play 😂
Side note/ example. Advice first. Seriously stack as much cash as you possibly can. And be patient on that trigger.
We got LUCKY in 2020. Built our first house in Lebanon Tennessee just east of Nashville for 465k at a 4.75 rate. Refinanced a year later and locked in at 2.50%. They’re now building houses in a new subdivision next to the one I’m in. About 1000 square feet less than my neighborhood on average. Large backyards but really close together. Ours are all custom brick and rock houses. The new ones are brick front and vinyl sides. Those new ones are now being built for almost what we paid PLUS between 7%-8% rates.
Those percentages are what folks inadvertently shoot them selves in the foot with.
Side note to my side note 😂. If you work it right. Like I said we got lucky and had perfect timing. We did our refinance in 2021. Grabbed a loan instead of touching the equity in the house, and we installed 38 x 18 in-ground pool. Our payment on the house and the pool combined are less than a LOT of folk’s houses bought recently.
3rd side note 😂😂😂. A little extra advice. Get something CHEAPER than you can afford and that can even be a new construction. The more you have leftover each month opens a LOT of doors down the road. Things like family trips and emergencies are a lot easier to handle.
In my experience, owning a house is less stressful than renting. Simply because you don't have to deal with as many "what-ifs". You won't ever be evicted, you don't have to deal with landlords or rules, you control what changes or is modified about your property, and banks tend to be fairly flexible even if you need to miss a monthly payment.
My advice: shop around mortgage lenders. I dealt with 4 separate lenders and had 4 completely different experiences. One was able to get me a very good rate, but the customer service was great too. The first lender I reached out to was pretty terrible on both of those fronts, so I'm so happy I didn't settle for the first pick.
Do unexpected things happen (like roof damage, flooding, electrical issues, and so forth)? Yes. Are they manageable? Yes! And, sometimes you will still come out on top compared to what it would have cost you in rent.
Why? Because of escrow. Banks will love you the moment you start paying down that mortgage, and when terrible things happen, you can dip into that escrow to help coast through. That's not something available to you if you have rent payments. And best of all, the longer you pay down your mortgage and avoid the unexpected, the more it benefits you in the end. It becomes something you can potentially give back to your children once it's paid down.
On the other hand, if something goes wrong with the house... the landlord has to pay for it. :)
@@Liofa73trust me, you pay for it - and you don't build any equity after everything you pay.
Stay put, now is not a good time to make a major purchase.
what happened to this couple?
Best of luck, the housing has gone crazy in FL since the pandemic. I got a condo on Clearwater Beach in 2016 for mid 300s. They are now selling for $679k. Its insane how prices have gone up very quickly.
start praying we get a fair election
this is such a good debate. it's really hard. I'm dealing with it too. I honestly can't decide. interesting to hear what you're going through.
Buying a good house is always a good idea.
I stopped in Clearwater once. Gorgeous place. Housing is crazy everywhere. My first house was tiny and came with 15% interest in the early '80s and then I refinanced once or twice. Today I'd look for an elderly landlord who would let you rent to own under a legit contract. They'd be fond of you guys and Jack the Giant. Also, there may still be gummint help for first time home buyers. It saved me money back then.
Now is a REALLY bad time to buy a home. Wait till things get better!
I agree with a lot of the comments about not being tied to Florida. If that's the case, you can 100% find the perfect set up for the perfect price. We moved from Philly to a very rural part of Arizona. It has only 2000 people in our town, and we live two miles out of town. We were able to get a 5 bedroom on 2 acres that backs up to 10k acres of protected land for 150k. It's now already valued at 100k more than we bought it for. It's a little bit of a change living more rural but it is worth it.
Welcome to Bidenomics
Man, I love the new direction you're taking the channel in.
Bidenomics at work
Where did you go to college?
You spelled Reaganomics wrong
Do not count on interest rates going down, rather up. That way, any future surprise will be positive. And the right time for a nice garden is when the kids are young.
You definitely have to research and shop around. A mobile home can be good if you're in an area that's less hurricane prone such clay county, Fl. You could find a place with an acre. If you have more acreage, you could get a few cows or goats, then claim it as a farm on your taxes.
Yes, if you have the ability. Buy a lot, put a good mobile home on it. Then save to put a permanent structure on.
Texas Baby! We will always welcome good souls like y'all.
I really love the " welcome to our chanel" intro always reminds me of knowing I'm going to enjoy the video 😊
lots of love you guys....Take your time
We started in a trailer. The day we walked through our front door, that didn't have a rickety staircase, was amazing.
Im rooting for you guys
Best of luck whatever you decide
_thank you_ for looking up the amortization and going into the all-in over-time costs! So many people somehow don't see this. The financing of the loan is almost always the biggest factor. "What if interest rates don't go down" (Brad) is a very solid/safe thought to have.... it's almost definitely not going to be the case, but it's best not to plan thinking about "well things must get better". Best of luck guys!
Buy the house you want/can afford. Don’t be afraid of another 10k. It usually only translates to another $5 a month. I got a single car garage because we were intimidated by an additional 10k cost. In the grand scheme it would have been nothing.
Come to Puerto Rico you can get a house in a gated community for half that all concrete very hurricane proof.
Wishing you all the best.....
Owning AND MAINTAINING a house can get challenging at times, but it's worth it in the long run . . .
Don’t forget upkeep and repairs too
I wish you luck in finding the right home for the family. Hopefully interest rates go down some...
I just hope all the best for you guys. Always enjoy watching you.
Thanks!
It is a good thing you guys are even discussing this. I am a renter, and can't give the best advise. But I know there are programs out there and financial advisors who can help you reach the best decisions. Look into what you qualify for, or even house building programs.