I Have Buyer's Remorse With My New House!
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- เผยแพร่เมื่อ 28 ก.ย. 2024
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Take a deep breath. Homeownership is not for people who panic. This is why you have an emergency fund. My grandfather once told me to never waste time worrying about something, until you KNOW there is something to worry about. Most of the time, there simply isn't.
Your grandpa sounds very wise!
, I admire people that can think like this, I can never figure out how
@@ftr911drvr - The way you "figure out how" to do anything is either trial and error, or astute observation. Imagine watching a child learning to ride a bike. You can imagine them falling and getting hurt, over and over again, but the reality, if you observe them, is they learn pretty quickly how to pedal, steer and balance, so that they enjoy the process. You can do the same, with virtually anything that currenly makes you fearful.
I had a broken dishwasher for two years. I used it as a cupboard until I had the money to get a new one. A sink and dish soap are also an option.
True. No one truly « needs » a dishwasher!!
never used it
I've never had a dishwasher.
You don't own a house, a house owns you. The same with a cat 😸
Lol
😂
I’m crying😂😂😂
I need this in cross stitch! ❤
This is the reason why I always say don't get pressure buying a house you not sure of. . Alot of realtor agent put pressure on buyers to get a house 🏠 just to get the commission especially if you have no idea like this young girl. I had a realtor that was very upset with me because I didn't want to pay full price for a house that needed 100k plus worth of work in it. I had to just walk away and find me a good realtor that care about me not just the commission. Please people when you buying a house there's no return back, so take your time before you make decisions. Always make a decision that fit you and not your realtor or people because at the end of the day you will be stuck with this house for years paying for something you don't like.
Realtors work for the seller because they get paid by the seller. Never forget this. They don't care what shape a home is in when u buy it or have any obligation when issues are discovered. One thing u hear over and over again is that the home warranty (usually paid for by the seller) will take care of any problems you encounter the first year. Good luck. Best thing you can do as a buyer is hire an independent home inspector to go over their inspection and be there when it's done. The important thing is to get an assessment of the life span left or the actual age of an appliance. Also they will prioritize and in some cases give you a ball park idea of the costs. A sellers home inspection is basically a check list of does it work or not. It's a little late but getting this done post sale is still a good idea for planning purposes.
She’s not a “young girl”. She’s an adult. We call an adult human female a “woman”. Don’t infantilize her because she’s stressing about homeownership.
I wish there was such a thing as a Home Savings Account. Like an HSA but for homes instead of health. Any money spent on qualified expenses are tax-free. This includes downpayment, points, inspection fee, survey, title, as well as ongoing repairs/replacement of necessities: roof, fridge, washer/dryer, oven, water heater, A/C, fence, etc. Wouldn't include "extras" like landscaping, new deck, stone countertop, etc.
You're joking, right?
There are some tax credits for upgrading your home.
Great call, but thinking of all the appliances not working, I would check if the breaker switch is off at the panel.
Someone should have prepped her for the homeownership process of repair, replace or resolve yourself. This issue is very likely electrical.
In 2020 I bought a single-family house after having an inspection. I knew going in that the roof needed work as well as the sidewalk and electrical service. The house was built in 1945. I prioritized the biggest issues, then tackled the less urgent ones. The heat needed improvement. Living in the Northeast, that had to be addressed next. My plumber replaced some radiator valves and what could have been an an expensive HVAC renovation was corrected for a few hundred dollars. As time goes on, I'll have to replace the air conditioning. Little by little, things are being resolved. It takes time and money, of course. This is part of home of wnership.
I could cry when Dave said "You're house payment is not too high." She is spending a little less than a quarter of her take home. I spend a little over a fifth of mine. I've been worried (to tears) that I've got too much house. I asked my agent about relisting it. It's a fantastic property and location and it's in decent shape. I'm not used to a big monthly payment like this. I just needed someone to tell me I did the right thing (someone that isn't earning commission off of me).
Having that huge payment (probably the biggest payment you've ever had) feels very overwhelming at first. As you pay it every month and see that the world isn't crashing around you, it eventually becomes routine. Once it's routine, the panic subsides. If the monthly payment is 1/5 of your take-home pay, you're okay providing you have financial responsibility with the other 4/5..
I know people with house payments that are at 50% of their pay. Unfortunately, just seems to be a modern fact of life. Rents not that far behind..
Bless Dave for encouraging Tarae to write the list of things needing repairs and writing what she is going to do about it. Hopefully it helps her feel the drama less. Breaking it down one task at a time is a great strategy. Wonderful....
I always make lists, start knocking them out the little easy things, and tackle what I can myself. Then I move to the larger things and learn how to do things myself. I've nearly remodeled my entire house by watching TH-cam videos, buying/renting the tools I need and managed to save 10's of thousands of dollars in the process. I've probably saved $30k compared to hiring a contractor. Just taken me some time.
No choice now since she already bought the home.
She's actually doing the job that the home inspector should have done beforehand.
Agreed! It was such a fatherly approach.
Love this way of thinking. Thank you Dave and Staff. Keeps us from making worse decisions.
?? Keep yourself from making bad decisions.
People overpaid for houses, made offers over asking, waived inspections, and now demand is dead so they can't sell
A forty year old roof would need to be replaced. ANd for insurance purposes too.
I live on a good pension. I have money stashed for emergency. I have no debt, not even a mortgage. Home repair time came up. Needed a new roof, gates and other things. Went to work for a while to save the money. Paid in cash.
I want to be you one day. If I could work 3 full-time jobs to get there I would. Congrats!!!
Wow... I hear, the home inspector told her that she needs a new roof shortly. Dave's perspective... you don't need a new roof... WOW... and we are talking MOLD!!! Really, Dave sounds crazy.
Most of the time just getting new appliances is the way to go. The labor and parts repairing it is usually 2/3rds the cost of a new one.
She should’ve hired an good inspector. $500 bucks well worth it
She says she had two inspections done. Not sure how all this stuff was missed.
Durning bidding wars of 20 and 21 buyers was in desperation to get into home and did whatever it took to please the seller in order to make final close out deal.
She should have walked away from the deal. The house sounds like a money 💰 pit.
In my experience with va inspectors they have been of poor quality.
Besides the roof. Anything else was not a big deal.
Just like buying a used car. Get a pre purchase inspection always. The small cost is always worth it.
You can wash your own dishes, so that could be put on the back burner.
I wonder if her “home inspector” was a friend. An actual licensed inspector would’ve caught all that.
That's what I was thinking. Trying to cut cost. Only thing that makes sense.
One of the first things I learned doing my due diligence.
The loan would have required a licensed inspector.
She is a single woman and was taken advantage of and lied to. The inspector porbably got a kick back from the realtor.
@@ZannaTheGreat exactly! They get kickbacks! The inspector left the attic roof in my garage open. He missed signs of leaking on the ceiling in one of my bathrooms. Also, the garbage disposal and dishwasher outlet under the kitchen sink was mounted to the floor and not the side of the cabinet. So after a few years, I didn't realize that when my disposal started leaking, the water was dripping on the cabinet floor causing the wood to rot and my dishwasher to trip. It was a gd nightmare!! Anyways...single 1st time homeowner who didn't know what to look for right here. I confess...lesson learned!
Oh, yes, the gouging of women is real. I had a friend who used to work for one of those window companies, and in the sales book they trained with it told them that the best people to rip off were essentially old people and single women. As a person over a certain age, I even had a plumber tell me it would cost $2000 to reattach the lines under my sink if I were to replace the sink. What nonsense!
I'm on house #3, and I'm very familiar with these feelings. You're going to have to tuff it out for a few years, but once things are fixed, they generally stay fixed.
Her real estate agent and broker are laughing to the bank.
"Houses only go up in value! Buy now before rates go up higher! Renting is throwing away money!"
Never take advice on buying something from the person trying to sell it to you. They don't care about you, they care about putting money in their pocket.
True
Real Home values go down over time. They are a horrible investment.
Usually one year warranty on appliances when you buy house. Call your real estate agent and check.
If she bought one or the seller agreed to pay for the warranty
Heck, my home is relatively new, and I can't tell you how many things were found behind the walls! She has to be careful...people lie all the time.
She could have a home warranty, all the homes that I've bought have included a 1 year home warranty that's either been paid for me or the sellers.
Those home warranties only cover appliances.
Some words of caution on finding a "good handyman." Make sure they're qualified to perform an evaluation and work, via plenty of references of similar work that has been done by them in the past. In addition, always make sure that individual is fully insured to perform the labor on your residence and check with your local town/city offices to ensure all of the necessary permits have been applied for and granted, (if necessary).
Handyman is another word for formerly homeless or formerly in jail. Stick with a contractor.
Some of the handyman companies are pretty good, and their people are licensed and bonded.
She must have hired Inspector Gadget.
or Mr. Magoo
If all her appliances are not working maybe the breaker is just off lol
It sounds like an electrical issue.
You can't have all the appliances broken at the same time, unless bought cheap junk. Most likely all the appliances connected on the same breaker.
@@bc_usa Lol most people?
@@Abby_Y_12 Or it could have been flipped off. Having to reset the breaker, does not mean there is an electrical issue.
"Do you have any debt?"
She really said "Apart from these two sources of debt, no."
In a similar situation with our home. House was originally built in 1898. However, we chose to have a home inspector come out (was $385 in 2021). Also we had a foundation inspector come in. We're debating on renovating the house to make it better overall.
This was really helpful to hear. I’ve felt similarly overwhelmed by home repairs; I’ll be starting a list! 👍
The magic of a list!
It’s taking me a year to feel comfortable in my house. The inspector missed so many things, and the previous owners thought they could fix everything with plumbers putty, which of course fell apart the minute I moved in. after searching for a year I finally found a handyman who is honest And told me that I don’t need to replace windows and came up with a plan for other things that didn’t involve thousands of dollars. It’s just incredible. The amount of gouging that the trades are doing now it’s really hard to find somebody who’s honest and won’t tell you that Your windows need to be replaced for $30,000 when the truth is they’re just out of alignment and the handyman put everything back into alignment for $110.
Good luck Tarae 👍🏽 Great advice Dave 🙌🏾
So many people jump into things like homeownership with doing very little study and research then they learn many things the hard way. This is very instructional for people to learn. Learn things thru others not on your own the hard way!!!!!!
Appliances today are such lower quality compared to 20 or so years ago. In my old house, I replaced my fridge during a renovation and gave my old fridge to my sister for her garage. My old fridge last longer with her than the new fridge I purchased.
The salesman at Lowe’s told me that you have about a 50% shot of getting a decent new appliance. He wasn’t kidding. I had to replace a brand new clothes washer within six weeks… Turned out that the drum inside of it was bent and banging on the back wall of the appliance.
Sounds like the breaker is tripped in the kitchen. A home inspector missed all the appliances not working?? Doubt it.
it is called a home inspection, not an appliance inspection.
^^ I found the home inspector. 🤣🤣🤣
George is amazing. Love this man’s personality.
I don't understand dishwashers, we all have hands. Mind you I do my laundry by hand in the sink too. I save by the penny. And I make 80 grand a year it's not like I need to be so cheap. Rich people don't get rich by spending money haha.
Do not get a home inspection recommendation from your realtor - ALWAYS 3rd PARTY
And thats how that is done. Good directions Dave.
Welcome to homeownership. There’s always something that needs repair or replacement. Most home related repairs are things you can do. TH-cam will show you how.
Some homes don't.
This is why you get a qualified home inspector before going in.
In the last 20 years, I’ve had three qualified and certified home inspectors who missed things that should’ve lost them their license to be honest. And they always have an excuse, which is all these things happened between their inspection and the closing. So I guess the previous owners put 30 year old smoke detectors back up on the ceilings, the minute he left??
This sound like major repairs.. if she just got the house within a year, is it covered with a warranty?
Warranty on 1980s home? Tell me more
@@dzfromdetroit2840 American home shield, FHA required it, on my 1960
I've seen cases where the inspector is sued for things like this.
@@dzfromdetroit2840 through a home warranty company. when I bought a house the seller paid it for the first year.
@@dzfromdetroit2840 😂
Welcome to homeownership.
All the things she mentioned should have been caught during the home inspection.
Not sure what her issue really is.
She may be an over-thinker, but she isn't an over-researcher.
Strong independent.......
@@lot2196 You can say that again!! lol ...and hard to take direction!
I bought a hose that was foreclosed. Glad I did since homes now are so expensive!! I am a little ahead at least and it beats renting.
Dave is right and she still in a good situation. I think she made a good choice and happy for her. If she waited, that payment would be higher and rent probably be higher also. It would have definitely been more difficult to get a place. That payment will get cheaper as she keeps getting pay raises.
You don't need a Dishwasher! I'm 41 years old and never owned one, so there I just saved you a couple hundred dlls
I tried to sell a home to someone with a VA financing package- it's not easy and actually was a few inspectors.
Most will be underwater on their mortgage. Many will walk from their mortgages. Especially condos.
*All* the appliances don't work? That sounds either over-dramatic or suspicious. How many of these problems was the realtor aware of and didn't disclose? That needs to be investigated because the realtor, by law, is required to disclose to the potential buyer any and all problems they are aware of with the property. Non-working appliances included.
She bought a used house. Every used house is going to have a list of things "that will eventually need to be done" but that don't need to be done right now all at once. Dave gave good advice. Make a list, prioritize the items, and deal with them one at a time. Owning a house means a never-ending list of "things that will eventually need to be done."
I found out that some states now don’t have disclosure laws. Some states now are basically buyer beware states. When you do the whole contract, there’s no disclosure page. when I asked in this particular state where that was, my realtor said oh well, we don’t do that anymore here. whoever in state govt who made that decision made a really bad call.
@@latsnojokelee6434 Oh, that is majorly scary that someone could pass that legislation with no one noticing. I'm gonna guess that the lawmaker who made that happen has a family member with an interest in having that protection.
Idk about the state she’s in but in California you have to disclose everything or the buyer can sue.
George said??? Have an emergency fund BEFORE you buy. Like it cost $30k to fix and it will not hurt you as much if you had it in an emergency fund.
I am wondering if her take home is actually 7400 or if that is the gross that she makes per month. A lot of people don't get that right and then they figure out that their payment for their mortgage is based on their gross and not after taxes and insurance and such.
It's pretty normal to have buyers remorse with your first home
Sure is! I experienced it too.
I absolutely LOVED my first home. I grieved when we moved. It was built in 2012 and of course had some maintenance needs, as every home does or will. Our second home is 400 square feet smaller and built in 1967 with a laundry list of maintenance needs. I did experience buyers remorse. Making a list does help, and we've been able to tackle a couple of the big things already.
and your 2nd and 3rd and 4th and 5th.....
4:01 we all have a drama queen that lives inside us! 😅
Are all the appliances on the same circuit and blown a fuse or something. Odd they have all failed together
Home services companies like hvac and plumbers these days are highly trained in sales, commissions, and spiffs for selling homeowners MORE! Many home services companies professional advice to the homeowner is highly biased by the commissions. If the average homeowner knew how much sales psychology training an average residential plumber and hvac guy receives they would never allow them in the house.
You are not kidding! They’re all trained on up selling now. I just found out that the company I’ve been using doesn’t even pay their people unless they make a sale/fix something. If I have one more HVAC guy try to sell me the magical lights that will shine on my coils up in the attic and kill mold for only $1500 I will totally scream.
What a great call.
Her house inspector didn’t inform her or she didn’t listen.
My roof was $6500. Small house 24x24.
Make sure you get second if not third opinions!!! One roofer tried to sell me and insurance a new roof, contacted commerical roofer, he looked at it told me what he thought, compared the two and asked him for his opinion on companies, contacted previous owner about who did our roof, they did warranty work!
A new stove can be bought for 800, refrigerator for 800. Many people live without any dishwasher.
Should the company that did her inspection be responsible for some of this.
Good luck holding anybody accountable these days.
Great job Dave…. Tara your okay, get great repair person and plumber on speed dial!
Regardless of inspection “quality” the major things were disclosed yet she still went ahead with the purchase. This is why my realtor wife always negotiates a home warranty into the deal on behalf of her buyers (at seller’s expense). 😉
I Agree with your baby steps , and how you should live on less than you make , and how to Build Wealth but I disagree with you Dave Ramsey $1,865 is alot for a House you don't feel inflation because your Wealthy , Rich and High Educated Your a MultiMillionaire
But he felt it in the 1990s. And his emotions are stuck in the 1990s.
He said her house is not a lot because of her 7400 dollar income a month rule of thumb per his rules are not to go over 25 percent of your net monthly income on a house payment she is right at 25 percent with that income now in the other world ppl say don’t go over 28 percent. The payment is considered higher for a house because right now everything is higher no more 800 and 900 mortgage payments just like it’s no more 700 and 800 rent payments but far as the payment aspect she’s good
When you buy a house look in the attic and look in the basement look at the heater and air conditioner look at the floor turn on everything look at the roof look at the circuit breaker is it old? Don't get emotional buying a house.
Money really needs to be a subject In school
I gotta say, HVAC guys always throw expensive . Also, talk to your realtor, they probably know a good cheep roof guy.
So her buyers remorse is because of a roof that may or may not need repairs and maybe a $500 dishwasher? Ok.
How much the house is worth and how much does she owe
Great advice :)
sounds like the breakers are flipped.
You do not need a dish washer at all. No dishwasher in my house.
house payment of $1865 that is nothing rent is much higher than that
that house probably costs 4000 per month. does your apartment cost that?
Do your homework before you buy. Plan your finances ( regarding the home) for the next 5 to 10 years. What if you lose your job, or become disabled? Can you still afford it?
I wonder if these appliances have extended warranties on them?
Wait houses need maintenance?
Wouldn’t home warranty cover this?
Dave does not recommend home warranty. It's a waste of money
Sounds like everybody inspected the house but her. How do you not know all those appliances etc weren’t working!
There's a drama queen in all of us 😆 lol
bought a single family home... no spouse.
welcome to home ownership. trips to home depot with your spouse.
no spouse, no house.
now you get to do double the labor as your second and third jobs. Dr baloney would ask if you are tired or safe?
learn to get along with other adults.
if you can't adult it, then sell it in a bit. but give yourself a chance. you might learn something. probably not.
the best part about houses is no one complaining about the cats you will be collecting.
Nothing wrong with collecting cats. And she’ll be collecting equity on that house, too!
1865 is more than 25% of 7400
These issues are resolvable, she needs a handyman like Dave said
With that income why didn’t she buy a new home or newer house why buy a house built in 1983? 🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️
Yeah she's way over exaggerating this in her head .
This is why I'm building my own home...
Get new appliances for a few thousand bucks you're good for at least 10 years.
Fix the roof leak.
No need for a call to Dave.
Nope girl, I'm with you on pets.
She’s in Houston hire sone primos they will fix it at half the price.
She did not hire good inspectors.
She seems like one of those people that waved inspection
Call the insurance! They should help you!
Hahaha 😆 😂 😆 😂 😆 😂
LOL, insurance doesn't cover a roof replacement, unless you have a catastrophe like a fire or a tree lands on it.
@Betty Smith hmmm my friend had a leak, and she was able to get it covered less the deductible. it may depend on the insurance.
Just build a new house. There are so many BAD flips it’s disgusting.
What if she said, “I recruit for green energy…” ?
Stressing over a dishwasher, really? Back in the Olden Days™ we put hot water in the sink, rubbed the dishes with a cloth or brush, then put them on the dish drainer. Not an urgent situation by any stretch of the imagination.
The caller is one of those 'it's the worst case scenario!!!' people, just immediately believes any problem that comes up is like the worst it can be. Some will be, but most will not. And things break down, especially older houses (I had a house that was over 100 years old!). Get a grip, and get a few quotes for the work! And stop being a Drama Llama.
Woman: "My roof is leaking."
Dave: "Who told you your roof is leaking?"
Woman: "The home inspector."
Dave: "No it's not. Eat Ramen noodles."
😃🤣🤣🤣
That's not quite how the conversation went. The inspector recommended a roof replacement, but the caller did not confirm that the inspector actually found a leak. A technician later discovered what he thought was a roof leak. Dave was suggesting that a patch might be an alternative to buy some time if there is indeed a leak.
Based
@@batman9512 If I had a home inspection that recommended an immediate roof replacement, no way I'd gone through with the purchase.
@@redfox_84 It depends on how badly I wanted the house. If there's a bidding war and the home is in a desirable area, some might take the deal.
She needs Leon black the “house husband “
A man is needed in this house...
Dave: "You need a new dishwasher"
Me: I've got a dishwasher for you. It's called a rag and Dawn.
Yep exactly! Handwashing is absolutely fine. My oven one time broke down and I guess I changed my style of cooking for a bit as my stove was still working 🤷🏻♀️ my husband was the one who ended up buying the appliances for me. I was telling him we can wait to save up more. It’s just an inconvenience 😂
When I hear what other people's take home pay is, it always seems like their problems are trivial. I'm not complaining or jealous it's just interesting how people have such different perspectives of what they consider financial problems/issues.