There is this show on HG TV called Property Virgins, and we hate it. How unrealistic can you get? How can a couple have money for a $600K home and be a virgin home owner? Sometimes HG TV just annoys us. We worked hard for 8 years to save up before we could afford 10% down on a $100k house. As property virgins, we would have fired the realtor on the HG TV show, like we fired 7 realtors before buying our first house. Our first home ended up being a for sale by owner house and we hired a real-estate attorney to help seal a deal, no realtors involved at all. It was actually more fun to buy the house in coordination with the owners of the property with no middle man to complicate things and create rifts and stress. When we worked with the realtors, and made offers on houses, the realtors would come back and say we were “low balling” the properties, and the offers were rejected. Well we watched those properties that we supposedly “low balled” and they all sold for lower than what we had offered for them, many, many, months later. That means many mortgage payments later for some poor seller who most likely was lead to believe their property was worth X-dollars by some cheese weasel realtor.
One of our realtors stopped showing us homes when we said we had no interest in joining his church. We wanted a house not a new religion is what we told him.
Our words of wisdom to property virgins… Don’t buy if the mortgage plus taxes is more than one weeks salary. So to own a $599K house, one person, or two people need to make at least $3k a week if you have 20% down (That is about $110K) and 6% interest loan. Ouch.
Our father in law told us that one week rule. Who would of thought an in-law would have decent words of wisdom. Grr HG TV grr…
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