✅Work Directly with My Team - www.jebsmith.net/referral ⏩NEVER Buy These Types Of Houses - th-cam.com/video/-Nez9Q16Ui0/w-d-xo.html ⏩How much can you afford? - th-cam.com/video/3Vhqiwabva0/w-d-xo.html
My housing is only unaffordable because my insurance has gone up 30% this year and 26% for renewal next year…and no I’m not in FL this is inland NC , no claims
I feel like I'm right on that line and it made me realize something. The number one thing that I could do with my money to improve my life is to save it, financial stress isn't worth most purchases. Also made a mistake leasing a car, ok deal but it hasn't given me the value to justify it. Would rather bike 😅. Anyways hope everyone is staying afloat.
Scheduled to close on my first home at the end of this month. Had been renting a 600 sq. ft. apartment for $1800. New home is a little over 1800 sq. ft. and my mortgage is estimated to be about $2,100 a month taxes and insurance included. Just got homeowners insurance for $731/yr. I feel really good about it. My housing expenses with the new mortgage will still be about 21% of my net income.
@@JebSmith rural northern Mississippi! I’m moving out of the Memphis area (thank heavens). Final cost was $304,900. My lender qualified me for up to $650,000 but I’m single with no children. That much house was unnecessary.
My wife and i got a steal of a starter home in '21. Under $900 mo payment. Now that were looking to upgrade, it seems like the best option is just to add on to this house. Its not ideal, but the other optons seems wildly expensive.
Closed on my house July 30, 2024. My taxes were $13,010 per year. Got an added assessment of $5,100 for renovations completed in 2020. Waiting to appeal, but not very hopeful. I will most likely list my house by February. This feels like a no win situation. Damned if you buy, damned if you don't.
@@JebSmith Just found out after permits closed in 2020 that the house was assessed to reflected the taxes. Sounds like assessor "spot assessed" me and used the renovations as an excuse. To be continued ...
@@JebSmith Same home 40 years..2024 propety taxes went up 20% because 2023 someone bought house next door at 25% over asking price: assessor felt the comps went up, our house is now worth more; appealed to assessor office 6mos ago, have not seen their response yet
Thats why my real estate agent has had a hard time find me a house because mortage is 4k or over and im not focusing on what amount i qualify for im being realistic on what we can afford each month. I can't imagine the people buying homes paying 4k a month for a home plus all their bills and i imagine theyre just not going out and eating modestly . Wheb we did calculations we didnt even add property taxes, its too expensive here where i live and i live in a small town so im staying put until i find something that we can afford and pay 3k or below, im realistic about our budget
@msjohns128 I've gone through alot of real estate agents because they just want to hurry and make a sale but we are the ones that are going to pay for the home so too bad I'm not getting into a home that I can't afford than later on lose it because I didn't budget correctly luckily I've had enough experiences with real estate agents to know which ones really care and which ones that only care about their commission it's sad to say but I haven't found one that actually cares they get tired and just move on because we can't find an affordable home no surprise it's California it's going to take time and patience
@@susievidal4134 Wow! It’s like we are living the same experience! I don’t want us to get something we can’t afford OR putting strain on our new marriage because of it
@@msjohns128 well I've had home buying experience and loss with my ex husband and after the house foreclosed after our divorce I was forced out if the house by the new owner with all my 5 kids so I don't want that to happen with this husband I mean he's a hard worker but 4k a month leaves us with not much for bills plus food and utilities not to mention an emergency fund and not one real estate agent has mentioned to me that property taxes go up thank goodness we have Jeb to give us good advice so we don't go over our budget . My household has one income and I'm disabled so I can't even work if I wanted to help out I totally understand you and I just pray those house prices go down more. I can't believe my ex husband bought our second home in 2002 and it was brand new and only 254k we won't ever see those prices again atleast not in California , Good luck to you
@JebSmith Haha just talks ATM but it would be from Colorado to NYC (everything is far from here) ... So that probably factors into it. I likely would not be able to purchase anything, even a condo in the areas near that place. I was curious about thoughts/logistics on leaving property with a pm company with intentions to move back someday (~2-5yrs). But that is pretty specific so the general concepts would help.
Getting approved for a loan at over 40% of your GROSS INCOME is not fiscally responsible. 24% of your GROSS income sure. Yet, here we are with people paying for homes at inflated prices
Hey Jeb....new subscriber here and thanks for the excellent content. I have a question for you. I am 62 and retired due to a disability so no longer working. I have been renting for the last 7 years I in Austin TX. I did very well in stock market and to my surprise, Austin is the number one city in country with biggest decrease in home prices as you know. I can afford to buy a $400,000 cash and will still have $300,000 left in bank for emergencies. I also can do a reverse mortgage if ever needed as I do not have children so not concerned about leaving debt to anyone. Do you think it makes sense to buy a home at this stage in my life especially in Austin TX where I have seen homes drop 25% over past 2 years. This is such a difficult and confusing decision for me so any advice would be appreciated. I should also mention I am a veteran so can get a VA loan with zero down. Does it maker sense to keep the cash for investing and take out a VA loan? Thanks again for any suggestions. You really have a great channel with excellent content. 👍
It's very easy to be house poor regardless of income based on the recent prices of homes, the upkeep and maintenance(contractors, handymen, companies charging ridiculous prices), and last but not least the growing insurance premiums and taxes since I moved in to my home 4 yrs ago.
still somehow cheerleading for housing market 😂I see people who bought their homes 2 years ago are selling with 100k to 200k loss I can give you couple examples from Zillow, they are in Castaic and Santa Clarita California.
I hope you are well. Your recent videos look great but aren't reaching your target audience. No matter how good your video is, without proper SEO, keyword research, and correct titles, descriptions, and tags, you won't stand out from your competitors. This results in losing views, which is a big challenge for your channel. Fixing these issues will help you gain more viewers and subscribers, leading to higher rankings on TH-cam, all organically. If you'd like, we can discuss your channel further and provide a report highlighting the issues with your channel. I believe this will be helpful for you. Thank you!
✅Work Directly with My Team - www.jebsmith.net/referral
⏩NEVER Buy These Types Of Houses - th-cam.com/video/-Nez9Q16Ui0/w-d-xo.html
⏩How much can you afford? - th-cam.com/video/3Vhqiwabva0/w-d-xo.html
I closed on my house December 2022 and I still like watching all your videos
Appreciate you
My housing is only unaffordable because my insurance has gone up 30% this year and 26% for renewal next year…and no I’m not in FL this is inland NC , no claims
Where in NC?
@ Charlotte
Insurance and Tax increases here in Texas have been insane...it's definitely contributing to people struggling with their payments.
But I thought Texas was affordable, especially with the lack of state income tax?
@@mapguy32uh no
Definitely an important topic to discuss-thanks for breaking it down and offering potential solutions!
I don't know what to do if wait or keep looking for a house?...so complicated!
I feel like I'm right on that line and it made me realize something. The number one thing that I could do with my money to improve my life is to save it, financial stress isn't worth most purchases. Also made a mistake leasing a car, ok deal but it hasn't given me the value to justify it. Would rather bike 😅. Anyways hope everyone is staying afloat.
Scheduled to close on my first home at the end of this month. Had been renting a 600 sq. ft. apartment for $1800. New home is a little over 1800 sq. ft. and my mortgage is estimated to be about $2,100 a month taxes and insurance included. Just got homeowners insurance for $731/yr. I feel really good about it. My housing expenses with the new mortgage will still be about 21% of my net income.
That's awesome....where and what price point?
@@JebSmith rural northern Mississippi! I’m moving out of the Memphis area (thank heavens). Final cost was $304,900. My lender qualified me for up to $650,000 but I’m single with no children. That much house was unnecessary.
Wow! That’s amazing! How old are you? You make a lot!
My wife and i got a steal of a starter home in '21. Under $900 mo payment. Now that were looking to upgrade, it seems like the best option is just to add on to this house. Its not ideal, but the other optons seems wildly expensive.
@@BendingPinkSteelI definitely wouldn’t sell or leave your home! Unless you inherit another house, stay put and enjoy the financial freedom!
The increase in insurance has been crushing 😢
Where are you located? How much has it gone up?
Closed on my house July 30, 2024. My taxes were $13,010 per year. Got an added assessment of $5,100 for renovations completed in 2020. Waiting to appeal, but not very hopeful. I will most likely list my house by February. This feels like a no win situation. Damned if you buy, damned if you don't.
So they increased by 50%? That seems off based on renovations alone? Can it be that they didn't reaccess the value since you purchased it?
@@JebSmith Just found out after permits closed in 2020 that the house was assessed to reflected the taxes. Sounds like assessor "spot assessed" me and used the renovations as an excuse. To be continued ...
@@JebSmith Same home 40 years..2024 propety taxes went up 20% because 2023 someone bought house next door at 25% over asking price: assessor felt the comps went up, our house is now worth more; appealed to assessor office 6mos ago, have not seen their response yet
Listing from Minnesota thanks for the notification smashed the thumbs up 👍 good stuff
🙏🏻🙏🏻🙏🏻
Man these realtors lied their asses off and people fell for it. Whew...!
Thats why my real estate agent has had a hard time find me a house because mortage is 4k or over and im not focusing on what amount i qualify for im being realistic on what we can afford each month. I can't imagine the people buying homes paying 4k a month for a home plus all their bills and i imagine theyre just not going out and eating modestly . Wheb we did calculations we didnt even add property taxes, its too expensive here where i live and i live in a small town so im staying put until i find something that we can afford and pay 3k or below, im realistic about our budget
@@susievidal4134 you feel the exact way I do, my husband and I families are pressuring us to just buy a home
@msjohns128 I've gone through alot of real estate agents because they just want to hurry and make a sale but we are the ones that are going to pay for the home so too bad I'm not getting into a home that I can't afford than later on lose it because I didn't budget correctly luckily I've had enough experiences with real estate agents to know which ones really care and which ones that only care about their commission it's sad to say but I haven't found one that actually cares they get tired and just move on because we can't find an affordable home no surprise it's California it's going to take time and patience
@@susievidal4134
Wow! It’s like we are living the same experience! I don’t want us to get something we can’t afford OR putting strain on our new marriage because of it
@@msjohns128 well I've had home buying experience and loss with my ex husband and after the house foreclosed after our divorce I was forced out if the house by the new owner with all my 5 kids so I don't want that to happen with this husband I mean he's a hard worker but 4k a month leaves us with not much for bills plus food and utilities not to mention an emergency fund and not one real estate agent has mentioned to me that property taxes go up thank goodness we have Jeb to give us good advice so we don't go over our budget . My household has one income and I'm disabled so I can't even work if I wanted to help out I totally understand you and I just pray those house prices go down more. I can't believe my ex husband bought our second home in 2002 and it was brand new and only 254k we won't ever see those prices again atleast not in California , Good luck to you
Oh also Jeb, if you are looking for video topics, I am looking for info on what to do with property if you are moving for work.
OK, I can definitely do some content around that. How far are you moving?
@JebSmith Haha just talks ATM but it would be from Colorado to NYC (everything is far from here) ... So that probably factors into it. I likely would not be able to purchase anything, even a condo in the areas near that place. I was curious about thoughts/logistics on leaving property with a pm company with intentions to move back someday (~2-5yrs). But that is pretty specific so the general concepts would help.
Getting approved for a loan at over 40% of your GROSS INCOME is not fiscally responsible.
24% of your GROSS income sure.
Yet, here we are with people paying for homes at inflated prices
Hey Jeb....new subscriber here and thanks for the excellent content. I have a question for you. I am 62 and retired due to a disability so no longer working. I have been renting for the last 7 years I in Austin TX. I did very well in stock market and to my surprise, Austin is the number one city in country with biggest decrease in home prices as you know. I can afford to buy a $400,000 cash and will still have $300,000 left in bank for emergencies. I also can do a reverse mortgage if ever needed as I do not have children so not concerned about leaving debt to anyone. Do you think it makes sense to buy a home at this stage in my life especially in Austin TX where I have seen homes drop 25% over past 2 years. This is such a difficult and confusing decision for me so any advice would be appreciated. I should also mention I am a veteran so can get a VA loan with zero down. Does it maker sense to keep the cash for investing and take out a VA loan? Thanks again for any suggestions. You really have a great channel with excellent content. 👍
It's very easy to be house poor regardless of income based on the recent prices of homes, the upkeep and maintenance(contractors, handymen, companies charging ridiculous prices), and last but not least the growing insurance premiums and taxes since I moved in to my home 4 yrs ago.
still somehow cheerleading for housing market 😂I see people who bought their homes 2 years ago are selling with 100k to 200k loss
I can give you couple examples from Zillow, they are in Castaic and Santa Clarita California.
I hope you are well. Your recent videos look great but aren't reaching your target audience. No matter how good your video is, without proper SEO, keyword research, and correct titles, descriptions, and tags, you won't stand out from your competitors. This results in losing views, which is a big challenge for your channel. Fixing these issues will help you gain more viewers and subscribers, leading to higher rankings on TH-cam, all organically.
If you'd like, we can discuss your channel further and provide a report highlighting the issues with your channel. I believe this will be helpful for you.
Thank you!