Navigating the Turbulent Housing Market in 2023 & 2024
Hi Everyone,
In today's economy, we are seeing neck-snapping interest rates, and low inventory making it one of the most unaffordable housing markets to date.
I'm currently going through the process of buying a home and wanted to share some insights on what I am doing to optimize my position.
Some important points in the podcast are as follows:
1) 20% Down - In the long run paying less per the amortization table
2) 20-30% of after-tax income - ensuring you can comfortably afford payments
3) Don't buy emotionally - life events may make it so we fall into the hype
4) Shop rates at 3-5 different banks
5) Xillion app - https://xillionapp.com/ - Helps compare rent vs buy
6) Get your credit up
7) Reach out to your peers
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