Should I Buy a House or Keep Renting in 2024? Ask MMB
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- เผยแพร่เมื่อ 16 ส.ค. 2024
- “Should I buy or rent?” It’s a question that comes up a lot, but outside of the finances, how do you know if it makes sense? In this “Ask Mind Money Balance” episode, financial therapist Lindsay Bryan-Podvin answers a flight attendant from Atlanta’s question about this exact topic. There are some unique considerations, such as assessing values, determining the why behind short-term renting, and benchmarks to have saved. If you’ve ever wondered whether you should buy or rent, tune in to navigate the emotional and practical steps to achieve your housing goals!
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Chapters
0:00 Intro
0:41 Question
2:17 WHY do you want a home?
3:53 Financial Anxiety
5:15 Values Check
6:58 Do the Numbers
10:19 Short Term Rental
11:25 Emergency Fund - แนวปฏิบัติและการใช้ชีวิต
keeping your housing expenses close to 28% was tough in NY. And now is also tough in GA. Where does that actually work lol?
Great video and analysis, thanks! Curious where one can get 6.25% on a 30 year mortgage now? I've been hearing the avg is around 7% even with excellent credit. Maybe 6.25% is for a 15 year loan?
Great question, and (drumroll) it depends! Shopping around for loan rates is a good idea-rates bounce around, and you're right: The interest rate ranges up to 7-7.5% (I filmed this about a month before I posted it, hence the differentiation in interest rates). Sometimes, a local credit union will have a better rate than a national bank, and sometimes, the opposite is true.
@MindMoneyBalance Makes sense, thanks for responding and for clarifying!