Ep. 164 – The Basics: 10 Steps to Buying Your First Home

Ep. 164 - The Basics: 10 Steps to Buying Your First Home

Shownotes: Buying a home for the first time can be overwhelming, but having a step-by-step process to follow can make everything clearer, right? WRONG. David Sidoni gets thousands of questions from first-time home buyers asking for a step-by-step list they can follow to buy a home. Unfortunately, everyone is a special snowflake with different starting points and circumstances, so having a one-size-fits-all rulebook isn’t really in the cards. But, since so many folks have asked, David did his best to give you the Chutes and Ladders version of his step-by-step plan.

Here are some topics from today’s discussion:

  • Why every plan is individual
  • Deciding to buy a home is the vital first step
  • Why getting pre-approved is NOT the first step
  • How you can get started on your plan today

Episode Highlights:

[01:51] We All Start From a Different Square

Rolling with the board game analogy, it’s important to know that everyone’s 10 steps start from a different place on the board. You could be in a completely separate spot in life from someone else, which heavily influences your home-buying process. Knowing where you are on the board is the key to using it properly.

[7:11] The First Two Steps to Success

In the 10 steps to buying a home for the first time, there are two steps that are not on the list that might shock you. The first one is getting pre-approved for a loan. The second is finding a realtor. Why?! Because finding a guide in your home-buying process is so so so important for this very reason – it covers both of these steps. DO NOT shop around for pre-approvals and rates first. Look for a realtor first who can talk you through the process. Instead, your first two steps should be:
  • DECIDE to buy a home. Yes, you need to be committed to the idea first.
  • Find a GUIDE. You also need to find someone who cares about you and knows the process to help you navigate these real estate waters. It doesn’t necessarily have to be a realtor, but needs to be someone who knows what’s up.
Market update

[27:24] Sound Byte

[12:08]- [12:32] I say again, home ownership is the best hedge against inflation. When things get rough, rents don’t go away. And, in fact, they don’t go down. They go up. So a nice fixed monthly payment, along with equity and just the stability of knowing that nothing’s going to change maybe when your job is… boy, that feels good.

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Here More Episodes

Single women are the highest and fastest-growing sector of first-time homebuyers. Today, David speaks with Eliza as she shares her journey to becoming a homeowner, finding a unicorn real estate agent, as well as finding the right lender and the right home.

David Sidoni dives into research and data to give you the REAL story behind the bank failures and how this could affect the housing market for this year. Also, he throws it into a handy-dandy cheat sheet to help you understand this mess.

Today’s How-to-Buy-a-Homie interview is with Joelle, a single woman who bought a house on her own. Accomplishing this feat was no easy task, but hard work and dedication led her to her first house in Florida! Now, she has the keys to her first house instead of relying on the unsteady rent market.

I hope you are getting your questions answered about this crazy process. I know there’s not a lot of clear information out there on the internet, so that’s why I started this podcast. To demystify the whole thing and get you first timers the help you deserve!  Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out.  And if you’re not already a regular listener, please subscribe.  If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts. Let’s change the way the real estate industry treats you first time buyers one buyer at a time – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused.  Viva la Unicorn Revolution!

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