just because you’re good at monopoly doesn’t mean you’ve got what it takes to
doesn’t mean you’ve got what it takes to
doesn’t mean you’ve got what it takes to buy your first home without any help hi
buy your first home without any help hi
buy your first home without any help hi i’m rebecca breaking and welcome to
i’m rebecca breaking and welcome to
i’m rebecca breaking and welcome to watchmojo.com and today in part two of
watchmojo.com and today in part two of
watchmojo.com and today in part two of our interview with Sandra D’Amato host
our interview with Sandra D’Amato host
our interview with Sandra D’Amato host of HGTV’s Property Virgins we’ll be
of HGTV’s Property Virgins we’ll be
of HGTV’s Property Virgins we’ll be checking in for a little realty check
checking in for a little realty check
checking in for a little realty check what are some things to consider when
what are some things to consider when
what are some things to consider when buying first home well I think you have
buying first home well I think you have
buying first home well I think you have to consider where you are in your life
to consider where you are in your life
to consider where you are in your life right now so if for example you’re about
right now so if for example you’re about
right now so if for example you’re about to start a family then it’s probably not
to start a family then it’s probably not
to start a family then it’s probably not a good time to buy that one bedroom open
a good time to buy that one bedroom open
a good time to buy that one bedroom open concept urban funky loft conversely you
concept urban funky loft conversely you
concept urban funky loft conversely you don’t necessarily need that three
don’t necessarily need that three
don’t necessarily need that three bedroom family home if you are a single
bedroom family home if you are a single
bedroom family home if you are a single person and you don’t have any intention
person and you don’t have any intention
person and you don’t have any intention on growing your family right now what
on growing your family right now what
on growing your family right now what are some things that first-time
are some things that first-time
are some things that first-time homebuyers underestimate when they go to
homebuyers underestimate when they go to
homebuyers underestimate when they go to my house oh the costs they might
my house oh the costs they might
my house oh the costs they might overestimate what kind of real estate
overestimate what kind of real estate
overestimate what kind of real estate they’re going to get and their their
they’re going to get and their their
they’re going to get and their their perceptions are sort of a little out of
perceptions are sort of a little out of
perceptions are sort of a little out of whack but definitely the finances are
whack but definitely the finances are
whack but definitely the finances are super important I think you absolutely
super important I think you absolutely
super important I think you absolutely have to figure out what you can afford
have to figure out what you can afford
have to figure out what you can afford every month and then don’t underestimate
every month and then don’t underestimate
every month and then don’t underestimate the cost of carrying a home it’s not
the cost of carrying a home it’s not
the cost of carrying a home it’s not just mortgage there are real estate
just mortgage there are real estate
just mortgage there are real estate taxes that have to be paid there are
taxes that have to be paid there are
taxes that have to be paid there are utility bills that have to be paid new
utility bills that have to be paid new
utility bills that have to be paid new roof that needs to be put on a fence
roof that needs to be put on a fence
roof that needs to be put on a fence that needs to be built things like that
that needs to be built things like that
that needs to be built things like that so make sure you factor in those costs
so make sure you factor in those costs
so make sure you factor in those costs into your budget and ask your realtor
into your budget and ask your realtor
into your budget and ask your realtor for help with that but one thing you
for help with that but one thing you
for help with that but one thing you shouldn’t underestimate is if you are
shouldn’t underestimate is if you are
shouldn’t underestimate is if you are buying a house with a partner the two of
buying a house with a partner the two of
buying a house with a partner the two of you need to be on the same page so you
you need to be on the same page so you
you need to be on the same page so you need to have open communication and
need to have open communication and
need to have open communication and really analyze what is important to you
really analyze what is important to you
really analyze what is important to you for real estate you know how are you
for real estate you know how are you
for real estate you know how are you going to use the property and then
going to use the property and then
going to use the property and then tailor it to that how do you decide how
tailor it to that how do you decide how
tailor it to that how do you decide how much you can afford this is a great
much you can afford this is a great
much you can afford this is a great thing to do so you’re thinking about
thing to do so you’re thinking about
thing to do so you’re thinking about buying a house so what you should do for
buying a house so what you should do for
buying a house so what you should do for one month and it’s really hard to do but
one month and it’s really hard to do but
one month and it’s really hard to do but it’s so worth it because everybody
it’s so worth it because everybody
it’s so worth it because everybody that’s done it has been shocked for one
that’s done it has been shocked for one
that’s done it has been shocked for one month track everything you spent at the
month track everything you spent at the
month track everything you spent at the end of the month you’ll have a bunch of
end of the month you’ll have a bunch of
end of the month you’ll have a bunch of data you’ll see what you spent and then
data you’ll see what you spent and then
data you’ll see what you spent and then you put your rent in there your car
you put your rent in there your car
you put your rent in there your car expenses everything that’s static that
expenses everything that’s static that
expenses everything that’s static that doesn’t doesn’t change you add all that
doesn’t doesn’t change you add all that
doesn’t doesn’t change you add all that up and you subtract it from your income
up and you subtract it from your income
up and you subtract it from your income hopefully your income is a bigger number
hopefully your income is a bigger number
hopefully your income is a bigger number if it and if it is you look at that
if it and if it is you look at that
if it and if it is you look at that surplus number and you say okay this is
surplus number and you say okay this is
surplus number and you say okay this is what I’m prepared to spend on
what I’m prepared to spend on
what I’m prepared to spend on ownership take that number to your
ownership take that number to your
ownership take that number to your mortgage consultant and say translate
mortgage consultant and say translate
mortgage consultant and say translate that into a mortgage figure is at three
that into a mortgage figure is at three
that into a mortgage figure is at three hundred thousand dollars is it two
hundred thousand dollars is it two
hundred thousand dollars is it two hundred thousand dollar mortgage what is
hundred thousand dollar mortgage what is
hundred thousand dollar mortgage what is it and then you’ll know how much you can
it and then you’ll know how much you can
it and then you’ll know how much you can afford to spend on a house you’ll know
afford to spend on a house you’ll know
afford to spend on a house you’ll know what you can afford monthly which is far
what you can afford monthly which is far
what you can afford monthly which is far more important than the big number of
more important than the big number of
more important than the big number of two or three hundred thousand dollars
two or three hundred thousand dollars
two or three hundred thousand dollars whatever your mortgage amount is
”
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