I've missed sit down vids!!! In case you don't watch to the end of the video, I can't say enough how big of a privilege & major goal achieved it is to own a house. Like with anything, I want to try to use my experiences to give you guys insight & advice to hopefully help you, so I hope this video does that!
Your point about renovations/furnishing taking time is so refreshing to hear. We’ve been in our house for almost 3 years now and it’s been slowly becoming more of a home with time. It is so hard at first to have to settle and wait certain projects out!
We bought our home in June 2022 and I couldnt relate to all of this more!! Blindsided by cost/principal/interest, underestimating the serious-ness of certain inspection things (i'm lookin at YOU electric), having to force myself to not feel like I need to buy every aesthetic thing I want right away.. I SO wish I'd had this video back then, but I will totally come back to it if we ever buy again (although I pray that isn't for awhile cause IT WAS A JOURNEY lol)
this was such a nice video Morgan! I love these sit-down style videos and, as a first-time homeowner, I wish I knew some of these pieces of advice as well. I agree that owning a home can be pricey but the sense of comfort when you know you own your place and can come and go as you please is truly priceless. please do more of these types of videos, really enjoyed this one 😊
I think something important to add is property taxes! This is my second time owning a home in CA and the supplemental tax bill that’s due the first year is always something that gets me. It’s important to highlight the importance of saving that money in an account that earns some interest.
Realtor in Canada here, I ALWAYS put myself in the buyers shoes and will make sure I know and share with them the age of the HVAC, plumbing, electrical, etc. so that it's not a surprise at the inspection (because I do not want my clients to pay the 700$+ for inspection and find all these things out and back out from the purchase after paying an inspection) I can't speak to how real estate in California works and the duties of the realtors, but this should've been a minimum shared with you during your experience! 🫢 I loved this video and it was very spot on! Your videos lately have been really well created and incorporating super interesting subjects, keep it up girly!🤍
I love that!! We knew it was an old house (so everything was old), but just didn't quite understand when certain things would need to be replaced (and how soon/expensive it would be haha). You sound like an amazing agent!
Congrats on your new Home! Many blessings on your homeownership journey. My husband and I are preparing to buy a house in the next 1-2 years. we received some advice to open up a high-yield savings and label it as home maintenance so that you feel more prepared for when the unexcepted costs are fixing up your new house but keep this account separate from an Emergency Fund.
If you add some money to each mortgage payment, you save a LOT of money on interest since all the extra just goes to the principle. Look at how extra money on each payment will save you money online if your mortgage provider doesn’t have a calculator for you.
I LOVE this video! Thank you for these tips. We are building our first home right now and getting married in November. I'm working on our registry. Do you have any advice on first time home buyers random items that I can add to the registry???
I’m hoping to be in the housing market in the next few years. I don’t mind renting but also would like my monthly payments to build equity and go towards something. These are awesome tips to be aware of and consider.
Sorry, can you explain the financing home repair part again?How did you get a loan to repair but also that 35000 is invested into a high yield account.Thank you
We could have paid the total upfront, but instead they offered a loan at 0% (for 18 months) through Wells Fargo. This way, the $35K can stay in our HYSA for those 18 months & continue to earn interest over that period. When the 18 months is up, we'll pay off the loan, but we'll now have added $ in our savings due to holding onto the $35K longer vs paying it at the beginning
Solatubes are a great alternative to skylights. We have them everywhere we don’t have natural light, like closets. We also have 3 skylights in the kitchen. We love them both.
Wow, so happy they adjusted the list price since the appraisal was under the sales value! If they didn’t, y’all would have needed to come to the table with that extra money because the bank will only finance what the house is worth. This is also why it is so important to not waive the buyers rights in the contract!! I see this happen so much in bidding wars 😬
We waived that contingency bc we were told that is the bare minimum these days. But we were the only offer. Now I’m terrified for the appraisal bc we don’t have extra cash
Sadly they don’t have to lower to the appraisal price. I’m under contract and the guy refused so we met in the middle and have to pay the difference in cash
I resonate with everything you said in this video. I’m coming up on 2 years of buying this house and it was my goal for so long, but what no one tells you about buying a new build is that your mortgage goes up because of the new property value. 🫠🫠
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I've missed sit down vids!!! In case you don't watch to the end of the video, I can't say enough how big of a privilege & major goal achieved it is to own a house. Like with anything, I want to try to use my experiences to give you guys insight & advice to hopefully help you, so I hope this video does that!
ive been a homeowner for 5 years already but im still sitting here watching this cause i love you 😂
Your point about renovations/furnishing taking time is so refreshing to hear. We’ve been in our house for almost 3 years now and it’s been slowly becoming more of a home with time. It is so hard at first to have to settle and wait certain projects out!
We bought our home in June 2022 and I couldnt relate to all of this more!! Blindsided by cost/principal/interest, underestimating the serious-ness of certain inspection things (i'm lookin at YOU electric), having to force myself to not feel like I need to buy every aesthetic thing I want right away.. I SO wish I'd had this video back then, but I will totally come back to it if we ever buy again (although I pray that isn't for awhile cause IT WAS A JOURNEY lol)
this was such a nice video Morgan! I love these sit-down style videos and, as a first-time homeowner, I wish I knew some of these pieces of advice as well. I agree that owning a home can be pricey but the sense of comfort when you know you own your place and can come and go as you please is truly priceless. please do more of these types of videos, really enjoyed this one 😊
This is so helpful! Thank you for your honesty and advice, can’t wait to one day be a homeowner and rally through the highs and lows 😂
I think something important to add is property taxes! This is my second time owning a home in CA and the supplemental tax bill that’s due the first year is always something that gets me. It’s important to highlight the importance of saving that money in an account that earns some interest.
Realtor in Canada here, I ALWAYS put myself in the buyers shoes and will make sure I know and share with them the age of the HVAC, plumbing, electrical, etc. so that it's not a surprise at the inspection (because I do not want my clients to pay the 700$+ for inspection and find all these things out and back out from the purchase after paying an inspection) I can't speak to how real estate in California works and the duties of the realtors, but this should've been a minimum shared with you during your experience! 🫢
I loved this video and it was very spot on! Your videos lately have been really well created and incorporating super interesting subjects, keep it up girly!🤍
I love that!! We knew it was an old house (so everything was old), but just didn't quite understand when certain things would need to be replaced (and how soon/expensive it would be haha). You sound like an amazing agent!
Congrats on your new Home! Many blessings on your homeownership journey. My husband and I are preparing to buy a house in the next 1-2 years. we received some advice to open up a high-yield savings and label it as home maintenance so that you feel more prepared for when the unexcepted costs are fixing up your new house but keep this account separate from an Emergency Fund.
Owning an home is soooooo expensive. Plus you invest more because it’s yours! We’ve spent so much, hopefully it pays off when we go to sell 🤞🏽
If you add some money to each mortgage payment, you save a LOT of money on interest since all the extra just goes to the principle. Look at how extra money on each payment will save you money online if your mortgage provider doesn’t have a calculator for you.
I LOVE this video! Thank you for these tips. We are building our first home right now and getting married in November. I'm working on our registry. Do you have any advice on first time home buyers random items that I can add to the registry???
I’m hoping to be in the housing market in the next few years. I don’t mind renting but also would like my monthly payments to build equity and go towards something. These are awesome tips to be aware of and consider.
Sorry, can you explain the financing home repair part again?How did you get a loan to repair but also that 35000 is invested into a high yield account.Thank you
We could have paid the total upfront, but instead they offered a loan at 0% (for 18 months) through Wells Fargo. This way, the $35K can stay in our HYSA for those 18 months & continue to earn interest over that period. When the 18 months is up, we'll pay off the loan, but we'll now have added $ in our savings due to holding onto the $35K longer vs paying it at the beginning
Great content! I’ve been a homeowner for about six years and you hit the nail on the head with this video.
Solatubes are a great alternative to skylights. We have them everywhere we don’t have natural light, like closets. We also have 3 skylights in the kitchen. We love them both.
This is so amazing! ❤ great tips for us Canadians as well xx so proud of you for making this step. Such girl bosses!
Saw the video and immediately grabbed my notebook to write everything down!
Wow, so happy they adjusted the list price since the appraisal was under the sales value! If they didn’t, y’all would have needed to come to the table with that extra money because the bank will only finance what the house is worth. This is also why it is so important to not waive the buyers rights in the contract!! I see this happen so much in bidding wars 😬
We waived that contingency bc we were told that is the bare minimum these days. But we were the only offer. Now I’m terrified for the appraisal bc we don’t have extra cash
Sadly they don’t have to lower to the appraisal price. I’m under contract and the guy refused so we met in the middle and have to pay the difference in cash
Hello Morgan 😊
Do you believe that when people own their homes, they become their parents just like in the Progressive commercial?
We had bees swarm in our fireplace and come into our family room. Unexpected $475 expense. 🤦🏻♀️ 🐝
omg BEES I would die
@@MorganYatesVids it was pretty crazy. It’s shocking to see hundreds of bees flying out of your fireplace & into your family room.
I bought in 2021, locked in a 2.7 % interest rate, I will probably live here until I die hahaah
omg I would too LOL that's amazing!!
Buying a house it's cost money
Definitely Not buying in California
I resonate with everything you said in this video. I’m coming up on 2 years of buying this house and it was my goal for so long, but what no one tells you about buying a new build is that your mortgage goes up because of the new property value. 🫠🫠