Hi everyone! Hope this helps anyone out there who is in the homebuying process, going to be soon, or just curious! Here are some additional notes that I didn't mention in today's video: - People should look into an FHA loan (federal housing administration) in some cases you can put down as low as 3.5%. Like I said, you do NOT need 20% down. There are many other options. - If you put down less than 20% you can either pay PMI or pay a higher interest rate (without PMI). This is an option people can look into. - You can include your closing costs in your loan! Time stamps: 0:00 - 1:38 Intro 1:38 - 3:52 What can you afford? 3:52 - 6:12 How much will you need for a down payment? 6:12 - 7:23 Closing costs 7:23 - 8:10 Other things you need 8:10 - 10:11 Monthly costs 10:11 - 12:05 How much do you need to save? 12:05 - 14:37 Budgeting 14:37 - 16:16 How much I saved + outro Hope these additional tips help!
Love this content, keep it up! This year, I'm focusing on paying off my student loans before buying & it's truly a lifestyle and just minimizing you expenses, going out, shopping *cries*
Loved that you talked about closing costs...I lays wondered how much those would be! Hyped for you to go through this process...I can’t wait follow along ❤️
I'm not even buying a house in the near future but looove this type of videos, they're so informative and I feel like a learn a lot and I mean its never to late to even start sooo
Another good thing to clarify is that private mortgage insurance can usually be cancelled once you reach 20% equity in your home, aka once the total amount you’ve paid including the down payment and monthly mortgage adds up to 20% of the home’s original value. I’ve also heard if your house goes up in value, you can get a new appraisal and they’ll drop the PMI if your equity at that point is also at 20%. Just based on my research since I live in Seattle where housing is suuuuper expensive and I’m looking to buy a house in a couple years so that 20% on an average home can easily get into 100k 🙃 but love your video and all the great info, excited for future ones!
YESSSS I needed this video! I really want to buy a house within the next couple of years but the saving process just seems so daunting. Also, I really want to just say how refreshing it is to watch someone on TH-cam who is smart and intentional with the way they spend their money. Thanks so much for this 🤍
yes! I just stopped my retirement fund so that I could focus on paying my student loans to prevent more interest, and to start saving for a future car or house! (I work with financial advisors and they told me this was smart)
I am literally SO excited for this series! It's so interesting to follow along on this journey with you and I feel like a lot of this information is really inaccessible (I have literally no idea what the home buying process is like). Can't wait for more! 💕
It was so hard finding all this info. Honestly, if I didn't have parents who worked in the housing industry, I would be so lost so I really hope this helps you out.
I just want to say Thank you for putting this video together! I have the goal to buy my mom a house because she deserves it. I was stressing out about where to begin and this has helped so much!
Natalie, you need to come work with me.....you are so on point with your information and I say the same things to my first time buyers. They still can't believe the cost of a home inspection or PMI but if you have a good lender working with you and your realtor the process can be so seamless....Love your content, Thank U
This is so so helpful! This is such important info and something you don’t learn in school so I’m so grateful to have this to look back at when the time comes!
Love this series and such valuable content! :) Something I'd add that's important is thinking about furniture costs, along with when the windows were last replaced, roof was last done etc. so that there are no surprises a year down the road and the emerg fund is big enough! Otherwise I think its amazing that you touched upon the importance of not depleting savings to $0!
You are so mature for your age, very wise beyond your years. Very helpful video. Wish I would have had a video and advise like this when I was younger. 👏👏
Thank you for this video! Seriously you have helped me through so much through youtube and your podcast. Really inspiring and makes me want to keep going 💕
I am watching this video late but I live in the UK and when I heard earning$5000 dollars a month, I wanted to pack my bags and move over there. But when I looked at jobs I realised that is not so true.
We are personally having the sellers pay for our closing cost. This is not an abnormal act either, it’s actually very common. Another thing to save for is home inspection and appraisal fees
Not sure if you are already planning on talking about the different types of loans, but it would be good to mention VA home loans as well as FHA, USDA, and conventional.
this was so so helpful! thank you!! for a future video, could you do one on saving for retirement? maybe compare the benefits of a company sponsored 401k vs a roth IRA, etc.
Hey girl! Great video. The advice regarding saving money, I would just like to add that it is fine to put your money in a mutual funds account, which is a mixture of stocks and bonds. Bonds are very safe, won't fluctuate, and is the base of your money. Stocks are what fluctuate and help you grow. You can talk to a financial advisor, and they will help pick what % bonds and what % stocks are best suited for you. Once you have enough, and it's a safe time to pull your money, you can take it out and put it into your savings account. Just putting money into savings is great, but there are ways that you can help grow your money with others' help. Just some food for thought :)
I didn’t even watch the video yet but I know that I will love it because you really really motivated and inspired me to buy a house ❤️❤️❤️ thank you ❤️
I also want to add on, please do not put your short-term savings (if you're planning on using it within less than a year) into stocks or prematurely pulling out of CDs, there will be fees, additional taxes and penalties
Your hair looks extra cute at that length! Mu best friend and her fiance are in the process of buying. They're about 30 days away from getting the keys!
What made you choose to buy a house in Charlotte? Also is there a lot of maintenance you'll have to keep up when renting it out? This is a super helpful video and I hope to do the same in the future!
Great video!! I just did one on my channel about the same thing. I love doing home buying process videos on the channel. People love to see then!! Keep up the good work and hope you are in your home already!!
saving over 2k a month isn't easy for so many people, i do think you appeared a little out of touch in that respect. the video was great but i think your privilege really shows a little in this as you're really talking from a position very unattainable for a lot of Americans
Hi Natalie, thanks for ur advice (to me) on buying a house. You mentioned that it will be needed a 2 income tax returns from the previous couple years. Can i know if it matters to work permanently (with company) or temparaly (with agency) during those tax returns?
this is good but you skipped over some very important things about mortgage insurance, different %s down, first time home owner loads and grants, etc. Although a lot of folks like 20% down, theres a sizable amount of financial advisors who recommend considering less down depending on how MI shakes out. Obviously its just an intro but I would recommend slowing down and spending more time covering JUST downpayment. JUST closing costs, etc.
Hi everyone! Hope this helps anyone out there who is in the homebuying process, going to be soon, or just curious! Here are some additional notes that I didn't mention in today's video:
- People should look into an FHA loan (federal housing administration) in some cases you can put down as low as 3.5%. Like I said, you do NOT need 20% down. There are many other options.
- If you put down less than 20% you can either pay PMI or pay a higher interest rate (without PMI). This is an option people can look into.
- You can include your closing costs in your loan!
Time stamps:
0:00 - 1:38 Intro
1:38 - 3:52 What can you afford?
3:52 - 6:12 How much will you need for a down payment?
6:12 - 7:23 Closing costs
7:23 - 8:10 Other things you need
8:10 - 10:11 Monthly costs
10:11 - 12:05 How much do you need to save?
12:05 - 14:37 Budgeting
14:37 - 16:16 How much I saved + outro
Hope these additional tips help!
this was SO helpful! excited for this series since we’re looking to buy a house within the next couple of years
Ah so excited for you two!!!
IM A BIT LATE BUT I WISH U THE BEST OF LUCKKK!!!
It absolutely blows my mind you are buying a house at 24! IM SO FREAKIN PROUD OF YOU!!! This is so exciting!
I LOVE YOU!!!! Thank you!
Awesome advice. Thank you for the last part about not feeling bad due to age. I'm 45 and just now saving for a house. No shame in it. Thank you.
I'm currently in the home buying process too, so this is super helpful and encouraging to see what your process is like!
Glad it was helpful!
Good luck with your home buying process
@@sabothebooklover1978 thank you!
Love this content, keep it up! This year, I'm focusing on paying off my student loans before buying & it's truly a lifestyle and just minimizing you expenses, going out, shopping *cries*
Good luck!! ❤️❤️
Loved that you talked about closing costs...I lays wondered how much those would be! Hyped for you to go through this process...I can’t wait follow along ❤️
I'm not even buying a house in the near future but looove this type of videos, they're so informative and I feel like a learn a lot and I mean its never to late to even start sooo
Thank you!! Yes it’s always good just to know
Another good thing to clarify is that private mortgage insurance can usually be cancelled once you reach 20% equity in your home, aka once the total amount you’ve paid including the down payment and monthly mortgage adds up to 20% of the home’s original value. I’ve also heard if your house goes up in value, you can get a new appraisal and they’ll drop the PMI if your equity at that point is also at 20%. Just based on my research since I live in Seattle where housing is suuuuper expensive and I’m looking to buy a house in a couple years so that 20% on an average home can easily get into 100k 🙃 but love your video and all the great info, excited for future ones!
Amazing! Noted!
YESSSS I needed this video! I really want to buy a house within the next couple of years but the saving process just seems so daunting. Also, I really want to just say how refreshing it is to watch someone on TH-cam who is smart and intentional with the way they spend their money. Thanks so much for this 🤍
yes! I just stopped my retirement fund so that I could focus on paying my student loans to prevent more interest, and to start saving for a future car or house! (I work with financial advisors and they told me this was smart)
Good for you! I think its an option and definitely consulting financial advisors for your specific situation is the way to go.
This was so helpful thank you! Can’t wait to check out your budgeting video. Side note- what lens do you use?
I’ve been loving these finance oriented videos!!!! I’m trying to get myself more educated in this and your videos are helping so much
If you have other suggestions lmk!
I work in finance and this was great, spot-on info for people just getting started & saving for a home! Love what you’re doing with your channel. ☺️
Thank you!! I got someone working in mortgage lending to look over it as well :)
Practical, to the point, easy to understand, and good sound quality. Thumbs up
I am literally SO excited for this series! It's so interesting to follow along on this journey with you and I feel like a lot of this information is really inaccessible (I have literally no idea what the home buying process is like). Can't wait for more! 💕
It was so hard finding all this info. Honestly, if I didn't have parents who worked in the housing industry, I would be so lost so I really hope this helps you out.
Natalie Barbu ❤️
I just want to say Thank you for putting this video together! I have the goal to buy my mom a house because she deserves it. I was stressing out about where to begin and this has helped so much!
me: is literally still in highschool
also me: ehhh its never too early
- honeypot films
This is sooo helpful!!! So badass my gal🙌🏽
Thanks Elena!! ❤️
Natalie, you need to come work with me.....you are so on point with your information and I say the same things to my first time buyers. They still can't believe the cost of a home inspection or PMI but if you have a good lender working with you and your realtor the process can be so seamless....Love your content, Thank U
Love this series!! Learning way more about real life things than I did in high school and college 🥴🤯
Girl me too lol I wish I was taught this
So helpful! I also think it's interesting to think about saving for FURNITURE as well! I never hear anyone talk about that part.
Oooh that’s a very good point. I did not think about! I guess everyone is different with bringing stuff, buying secondhand, getting it gifted etc
can i just say how much i LOVE this thumbnail???!!
Thank you!!!
I'm starting my search in buying my first home in new york city! Thanks for sharing this Natalie
This is so so helpful! This is such important info and something you don’t learn in school so I’m so grateful to have this to look back at when the time comes!
Super helpful!! My desire is to buy a house in 3-5 years :) this is good for me to start planning and saving! Also CONGRATS!!
Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.
Love this series and such valuable content! :) Something I'd add that's important is thinking about furniture costs, along with when the windows were last replaced, roof was last done etc. so that there are no surprises a year down the road and the emerg fund is big enough! Otherwise I think its amazing that you touched upon the importance of not depleting savings to $0!
yess this is so helpful !! definitely can’t wait to see more of the series !
I'm not planning to buy a house yet and I don't even live in the US but I'm still watching 🥰 your hair looks so good in this video!
Thank you ❤️ I’d love to know how it’s different than other countries
Thank you for the summary and simple explanation. You have really motivated me.I just subscribed!
Lol finally ! Props to you for including closing costs . Thanks for the video
You are so mature for your age, very wise beyond your years. Very helpful video. Wish I would have had a video and advise like this when I was younger. 👏👏
Exactly what I need rn!!🏠
Looking to *buy a home* 💵 in Charlotte too and this series is going to be so helpful, thank you thank you!❤💃
Im so glad!
❤️✨ I’ve been so excited for this series!
This was a great video on explaining the topic. Can’t wait for the other videos
… 2,000 a month is what i make working a physically demanding job; and i’m in maryland.
Thats what I was just thinking... and she was basing it off of making 5k a month!! In what world bc im a preschool teacher and i make max 2300 a month
Thank you for this video! Seriously you have helped me through so much through youtube and your podcast. Really inspiring and makes me want to keep going 💕
Me, living off student loans in law school for the next two years, watching this entire video with popcorn hahaha
I'm 12 but my dream is to move to new york with my cousin and play hockey, I didn't understand half the stuff but some of it made sense thanks!
I am watching this video late but I live in the UK and when I heard earning$5000 dollars a month, I wanted to pack my bags and move over there. But when I looked at jobs I realised that is not so true.
Thank you, Natalie! All the numbers you used literally applied to me. It was really encouraging. ❤ Thank you!!
Thank you my fellow romanian, great video!
Wow this information is GOLD!! Thank you SO MUCH, Natalie!!!
so excited for this series and to learn along with you!!!
Yay I’m so glad!
So helpful and motivating! Can’t wait for the rest of this series ☺️
Yay!!!! Can't wait for this series
We are personally having the sellers pay for our closing cost. This is not an abnormal act either, it’s actually very common. Another thing to save for is home inspection and appraisal fees
Thank you for sharing this information and advice! This is so incredibly helpful!
These are great suggestions, and its such an important topic to be discussing right now, I really enjoyed the video!
Glad to see your new style of informative videos... Keep them coming ...❤️❤️❤️
thank you for doing this video! so much to learn and absorb when it comes to buying a home
I just bought a house and all these tips are on point!
Not sure if you are already planning on talking about the different types of loans, but it would be good to mention VA home loans as well as FHA, USDA, and conventional.
I added in a pinned comment!
this was so so helpful! thank you!! for a future video, could you do one on saving for retirement? maybe compare the benefits of a company sponsored 401k vs a roth IRA, etc.
Wow I’ve heard so many great things about movement mortgage. So crazy that it took them that long. I’ll be looking into DHL once we decide to buy
so so helpful! im definitely looking into buying a home wishing the next few years! 💖
Great video, thank you for sharing your journey with us!
definitely watching ♥️ so inspiring for buying a house this young
Interesting video and I can't wait for the whole series :)
Exceptionally mature young woman. Great job.
Hey girl! Great video. The advice regarding saving money, I would just like to add that it is fine to put your money in a mutual funds account, which is a mixture of stocks and bonds. Bonds are very safe, won't fluctuate, and is the base of your money. Stocks are what fluctuate and help you grow. You can talk to a financial advisor, and they will help pick what % bonds and what % stocks are best suited for you. Once you have enough, and it's a safe time to pull your money, you can take it out and put it into your savings account. Just putting money into savings is great, but there are ways that you can help grow your money with others' help. Just some food for thought :)
This is great advice too! I def recommend speaking to a financial advisor!
You and this background are just glowing 😍
This was so helpful! I’m saving to buy a house in Charlotte, hopefully in the summer!
Ah good luck!
I didn’t even watch the video yet but I know that I will love it because you really really motivated and inspired me to buy a house ❤️❤️❤️ thank you ❤️
This was so helpful! I love Dave Ramsey! 💚💚💚
Proud of you perfect time and your having yr first holidays
I also want to add on, please do not put your short-term savings (if you're planning on using it within less than a year) into stocks or prematurely pulling out of CDs, there will be fees, additional taxes and penalties
What about high APY savings accounts or Roth IRA?
Loved this!! A new subscriber :)
Your hair looks extra cute at that length! Mu best friend and her fiance are in the process of buying. They're about 30 days away from getting the keys!
Ah so exciting
I love your videos so much you’re so inspiring love 🥰
Such a great video!! You are so pretty! Super informative, thank you!! 🎉❤️
This was very helpful Natalie! Wish I will be able to buy a house one day too 💕
Good luck ❤️ thank you so much!!
Is house insurance like flood, wind, etc damage separate from the costs you said at around 8:45?
Your videos and tips are always great ✨🌼 very helpful
i JUST got an apartment but this was so great to keep in midn for the future
@@joel0990 I have videos on mine and my friends rent on my channel
Thank you .. this is helpful!
Idk if it’s different in every state but I was wondering if the real estate agent price percentage is included in the 2-5% closing costs?
If you pay PMI you could always refinance when you pay off 20% of the house and the PMI will go away.
Can you do a budgeting video please ? Love your financial videos 💕💕💕
I have done one! Its on my channel!
Well done. This was very helpful. I am just wondering if the seller can the closing costs for you and just add it onto the price of your house?
What made you choose to buy a house in Charlotte? Also is there a lot of maintenance you'll have to keep up when renting it out? This is a super helpful video and I hope to do the same in the future!
Appreciate this !!
Great video!! I just did one on my channel about the same thing. I love doing home buying process videos on the channel. People love to see then!! Keep up the good work and hope you are in your home already!!
saving over 2k a month isn't easy for so many people, i do think you appeared a little out of touch in that respect. the video was great but i think your privilege really shows a little in this as you're really talking from a position very unattainable for a lot of Americans
Well, it depends. My wife and I make combined 80 - 90k and if we didn't have kids, and really focused, we could do it.
@@kbanghart exactly 80-90k which by population standards pits you in the top 10% of citizens. My point still stands
@@jg5520 and mine as well
She did use that as an example. She didn't say we all had to do that
Sounds like someone is butthurt and triggered
Wow girl! Congrats!
thank you!!
Hi Natalie, thanks for ur advice (to me) on buying a house. You mentioned that it will be needed a 2 income tax returns from the previous couple years. Can i know if it matters to work permanently (with company) or temparaly (with agency) during those tax returns?
Great tips!
Hey Nat this was such a helpful video! Do you have any tips or stories on saving towards a house while paying off student loans?
i guess it’s better to focus on one thing at a time. try to pay off your student loans quicker then you can start on your home buy saving
@@marieshan9377 Thanks for the advice!
RIP to everyone else watching this in Summer 2022🙃
This video was very interesting to watch.
This was really helpful!
I am looking to create a home saving account when every month I put money so I can mortgage it I will pay it faster.
Do you still have the template for your budget anywhere?
I heard you could could put your closing costs into your mortgage and still buy the home!
You can! I updated that in a pinned comment :)
Such a great and informative video! Thank you Natalie!
Can you do a video on how you got started in the stock market?
I have other financial videos regarding what I do. I don’t feel comfortable doing a whole video on the stock market though
Are you staying in NC?
this is good but you skipped over some very important things about mortgage insurance, different %s down, first time home owner loads and grants, etc. Although a lot of folks like 20% down, theres a sizable amount of financial advisors who recommend considering less down depending on how MI shakes out. Obviously its just an intro but I would recommend slowing down and spending more time covering JUST downpayment. JUST closing costs, etc.
Genius idea!!